Awesome Oscillator

The Awesome Oscillator (AO) was authored by Bill Williams. This oscillator subtracts a 34 period simple moving average (SMA) from a 5 period SMA. It illustrates what’s happening to the market driving force at the present moment. The AO is displayed as a bi-colored histogram. The user may change the input (midpoint), method (SMA) and period lengths. This indicator’s definition is further expressed in the condensed code given in the calculation below.

How To Trade Using Awesome Oscillator

No trading signals are calculated for this indicator.

How To Access in MotiveWave

Go to the top menu, choose Study>Bill Williams>Awesome Oscillator

or go to the top menu, choose Add Study, start typing in this study name until you see it appear in the list, click on the study name, click OK.

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Calculation

//input =price, user defined, default is midpoint
//method = moving average (ma), user defined, default is SMA
//slowPeriod = user defined, default is 34
//fastPeriod = user defined, default is 5
//index = current bar number

slowMA = ma(method, index, slowPeriod, input);
fastMA = ma(method, index, fastPeriod, input);
PlotHist: ao = fastMA - slowMA;