Awesome Oscillator was designed by Bill Williams. It provides you with the data on current market status.
This indicator has distinguished purchase signals:
- “Saucer” – buying signal that is formed by changing directions from acceleration to deceleration, with the second red bar lower then the first one that is green. This signal appears once the histogram is exceeding the zero level.
- Exceeding the zero line – buying signal that appears once the histogram is exceeding the zero level on the chart. It needs only two bars, one above and one below zero.
- Two peaks – purchase signal that appears once the histogram is located below zero and it is followed by another one that is closer to the zero line. If the histogram between the peaks crosses the zero line, the purchase signal will not be active. Is an additional third bar appears and while the histogram does not cross a zero line, additional purchase signal appears.
