Awesome Oscillator

Creator: Bill Williams

Fast period: 14

Slow period: 34

Below the chart for the Awesome Oscillator are the histogram bars and average line.

1 – Green line represents Awesome Oscillator

2 – Red line represents the Average

Awesome oscillator is a momentum indicator that compares recent price movements with historical price movements. A zero line is plotted in the center, along with two different moving averages plotted either side of it.

A bullish zero-line crossover occurs when the awesome oscillator crosses above the zero line, whereas a bearish crossover occurs when it crosses below the zero line.

The indicator table value in TradePoint & RZone also provides you with a list of all values of this indicator for any group of stocks. This will allow you to compare the readings of this indicator across different stocks.

This indicator is also available in the System Builder of RZone & TradePoint for all charting methods. Using the system builder, you can develop various strategies based on the different conditions already present in this indicator. Additionally, it can be used with other indicators or price patterns to develop effective trading strategies. For any group of stocks and market segments, you can scan and backtest stocks based on those strategies.

The indicator is applicable to all types of charting. Calculated based on the number of columns on P&F charts, bricks on Renko charts, lines on Line-break charts, candles on Heikin ashi charts, and lines on Kagi charts. While the formula and reading of the indicators remain the same, they become more dynamic on these charts.