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A novel relaxation oscillator based on integrating the diode-switched currents and Schmitt trigger is presented. It is derived from a known circuit with operational amplifiers where these active elements were replaced by current conveyors. The circuit employs only grounded resistances and capacitance and is suitable for high frequency square and triangular signal generation. Its frequency can be linearly and accurately controlled by voltage that is applied to a high-impedance input. Computer simulation with a model of a manufactured conveyor prototype verifies theoretic assumptions.