HACOLT (Heikin Ashi Candles Oscillator Long Term) is a technical indicator designed by Sylvain Vervoort. It is based on Mr.Vervoort's other indicator, HACO (Heikin-Ashi Candles Oscillator - posted here: tradingview.com/v/UyhY8FuQ/).
Optimized for long-term trading, HACOLT shows three levels: -1, 0 and 1. These levels suggest "an open short position", "no open position", and "an open long position", respectively. Passing from a certain level to another is viewed as a trading signal: - Rising from -1 or 0 to 1 suggests a Long Entry and Short exit; - Falling from 1 to 0 or -1 suggests a Long Exit; - Falling from 1 or 0 to -1 indicates a Short Entry.
Fits in nicely with any trading setup as a confirmation indicator