Awesome Oscillator Technical Analysis and Awesome Oscillator Forex Trading Signals
Awesome Oscillator (AO) is a 34-period simple moving average that is plotted through the middle points of the bars (H+L)/2, and then this is subtracted from the 5-period simple moving average.
Technical Analysis and Generating Signals
A buy signal generated once the oscillator moves above the Zero line.
Another buy signal generated when indicator is above the Zero mark and the color of the bars change from red to green and the green bar is higher than the red bar forming a V or U shape. The signal is confirmed after three green bars are formed.
A sell signal is generated once the oscillator moves below the Zero line.