I want to know how "Awesome Oscillator" Indicator work in FOREX?
I do forex, and i search and find Awesome Oscillator (AO) , and read about it, but it is not complete and it is useless, if you can please help me.
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Filed under: Forex signals
First of all, if you do Forex you should not rely in technical analysis (if the markets are efficient technical analysis does not work, and if they are not efficient… do you really would want to do Forex? Anyway here is your answer
Awesome Oscillator Technical Indicator (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 what’s happening to the market driving force at the present moment.
Signals to buy:
Saucer, Nought line crossing, Two pikes
Signals to sell are identical to the signals to buy. The saucer signal is reversed and is below zero. Nought line crossing is on the decrease — the first column of it is over the nought, the second one is under it. The two pikes signal is higher than the nought line and is reversed too.
You can read a detailed model at http://www.smrussell.net/papers/StockFramework.pdf