Indicator - Awesome Oscillator
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Calculation Awesome Oscillator
Awesome oscillator is a momentum oscillator. It calculates the difference between a long simple moving average of the median price and a short simple moving average of the median price (default periods: 34 and 5).
Median price of a candle = (High+low)/2.
By default, green is used for rising bars and red is used for falling bars (as compared to the previous value).
Interpretation Awesome Oscillator
Zero line cross : A bullish signal may be indicated when the awesome oscillator crosses over the 0 line. A bearish signal may be indicated when it crosses under the zero line.
Twin peaks : A bullish signal may be indicated if there is a double top below the zero line. A bearish signal may be indicated if there is a double bottom above the zero line.
Saucer : A bullish signal may be indicated if the awesome oscillator is above the zero line and it changes direction from down to up (concave up). A bearish signal may be indicated if the awesome oscillator is below the zero line and changes direction from up to down (concave down).
