Awesome Oscillator (AO):
Bill Williams's Awesome Oscillator (AO) is a 34-period simple moving average, plotted through the middle points of the bars (H+L)/2, which is subtracted from the 5-period simple moving average, built across the central points of the bars (H+L)/2.
It shows us quite clearly what’s happening to the market driving force at the present moment. (B. Williams: "New Trading Dimensions: How to Profit from Chaos in Stocks, Bonds and Commodities").
Author: MetaQuotes Software Corp.
Forum trading, automatic trading systems and testing trading strategies
iTC , 2014.04.22 13:38
Having ordinary AO indicator, even without seeing the graph, you can know what to do to buy or sell, look at the histogram display. That markup.