EURUSD 1.1128 USDJPY 119.32 USDCAD 1.3218 EURCZK 27.005 USDCZK 24.284 EURPLN 4.2169 USDPLN 3.7878
EURUSD 1.1128 USDJPY 119.32 USDCAD 1.3218 EURCZK 27.005 USDCZK 24.284 EURPLN 4.2169 USDPLN 3.7878

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The Awesome Oscillator formula combines two moving averages of different time scales in order to generate signals of possible trend reversals

Rule of thumb

The Awesome Oscillator indications can be combined with other technical indicators, in
order to provide more refined signals

The Awesome Oscillator is an indicator in the form of a histogram that compares two moving averages, one of them representing the market dynamics in  the short-term and the other capturing the long-term movements.

 

awesome oscillator, ao, Bill Williams, indicator

 

Below is a description of the typical interpretation of the signals provided by the oscillator. 

 

Buy signals

  • Saucer - this buy signal is generated with three bars, and when the histogram has reversed its direction from downward to upward. It occurs only if the second bar is lower (coloured in red) than the first one, and the third bar (coloured in green) is higher than the second.
  • Nought line crossing - this buy signal is generated with two bars, when the second histogram bar crosses above the “0” (zero) line - called the nought line, while the first one is below the nought line.
  • Two pikes - this buy signal is generated with two pikes visible below the nought line. The signal will be valid only if the second pike is higher than the first one (i.e. is closer to the nought line). Bars between the pikes must also be below the nought line but higher than the pikes. The bars after the second pike should be moved in the direction of the nought line.

 

Sell signals

  • Saucer - this sell signal is generated with three bars, and when the histogram reversed its direction from upward to downward. It occurs only if the second bar is higher (coloured in green) than the first one, and the third bar (coloured in red) is lower than the second.
  • Nought line crossing - this sell signal is generated with two bars, when the second histogram bar crosses below the “0” (zero) line - called the nought line, while the first one is above the nought line.
  • Two pikes - this buy signal is generated with two pikes visible above the nought line. The signal will be valid only if the second pike is lower than the first one (i.e. Is closer to the nought line). Bars between the pikes must also be above the nought line but below the pikes. The bars after the second pike should move in the direction of the nought line.

 

How to use it with MetaTrader 5:

  • Select a chart for which you want the Awesome Oscillator to be presented.
  • Go to: Insert - Indicators - Bill Williams - Awesome Oscillator
  • Awesome Oscillator will be automatically displayed below the chart by MetaTrader 5

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