AO Patterns
- Indicators
- Version: 1.1
- Updated: 17 November 2021
- Activations: 5
The indicator displays a formed pattern of the AO (Awesome Oscillator) indicator at the signal bar according to the "Profitunity" strategy by Bill Williams. The patterns differ in colors, location and number.
The indicator can notify the user about the appearance of a new pattern.
It is important to remember that you must not use the signals of the "АО" indicator until the appearance of the first buy/sell fractal outside the alligator mouth.
Types and designation of the patterns
Buy 1 - "Saucer":
It is the only signal to buy that comes when the histogram is above the zero line.
Rules for the "Saucer" buy signal:
- The "Saucer" signal is generated when the histogram reversed its direction from the downward to upward.
- For the "Saucer" signal to be generated the histogram should have at least three columns.
- The stop order for buys is placed one minimum change in price higher than the High of the price bar, which corresponds to the first highest one.
- There is no limitation on the number of columns within the "Saucer".
- All columns in the "Saucer" must be above the zero line.
- The signal column must have green color.
- The buy and sell signals can not be generated simultaneously.
- Always read left to right.
Buy 2 - "Zero Line Crossing": Rules for forming the "Zero Line Crossing" buy signal:
- A Buy signal is formed when the histogram moves from negative to positive values. This occurs when the histogram crosses the zero line.
- The stop order for buys must be placed one minimum change in price higher than the High of the price bar, which corresponds to the first histogram column that crossed the zero line.
- For this signal to be generated, only two columns are necessary.
- Simultaneous generation of buy and sell signals is impossible.
- Always read left to right.
Sell 1 - "Saucer":
- This signal is generated when the histogram reversed its direction from the upward to downward.
- For the "Saucer" sell signal to be generated, a minimum of three columns is required.
- The stop order for sells is placed one minimum change in price lower than the Low of the price bar, which corresponds to the first downward column.
- All columns in the "Saucer" must be below the zero line.
- The signal column must have red color.
- Simultaneous generation of buy and sell signals is impossible.
- If your current column is green, there can not be a sell signal.
- Always read left to right.
Sell 2 - "Zero Line Crossing":
- A Sell signal is formed when the histogram moves from positive to negative values. This occurs when the histogram crosses the zero line.
- The stop order for sells must be placed one minimum change in price lower than the Low of the price bar, which corresponds to the first column that crosses the zero line.
- For this signal to be generated, only two columns are necessary.
- During the "АО" indicator operation there can not be a buy and sell signal at the same time.
- Always read left to right.
Indicator parameters
- Up Arrow color - The number color of the buy pattern
- Up Arrow width - The number size of the buy pattern
- Down Arrow color - The number color of the sell pattern
- Down Arrow width - The number size of the sell pattern
- Shift from bar for arrow (in points) - Offset from the price to number (in points)
- Must it use the Push Notification? - use Push-notifications to the MetaQuotes ID?
- true - use (the MetaQuotes ID must be specified in the terminal settings)
- false - do not use
- Must it use the Alert Notification? - use Alert notifications?
- true - use (a message with a sound will be displayed)
- false - do not use
- Must it use the Mail Notification? - use E-Mail notifications?
- true - use (the corresponding field must be filled in the terminal settings)
- false - do not use
- Must it be in background? - Display the numbers in the background
- true - in the background
- false - in the foreground
