Awesome Oscillator
Compares short and long averages of median price around a zero line.
Start with the input, not the story.
Momentum through the spread between 5- and 34-period simple averages.
The local panel exactly subtracts a 34-period SMA from a five-period SMA of median price after hidden warm-up. Give every histogram shape a precise rule before you test it; attractive bars alone are not evidence.
Count every qualifying shape and include trading costs. Do not keep only the attractive examples that appear after a good outcome.How traders commonly use Awesome Oscillator
The oscillator can make zero-line state or histogram acceleration explicit inside a separately defined structural context.
Compare short- and long-period averages of median price around a zero line.
Keep this job separate from entry timing, stop placement and position size.
A useful counterexample
Visually named histogram shapes can be found after the event unless every bar and pivot condition is encoded in advance.
Structure for context, AO for momentum, ATR for risk
Each part has a different job. If two tools answer the same question, remove one and compare the result.
Defines direction, location and invalidation.
Describes completed-bar momentum around zero.
Scales price distance and movement.
Follow the same order every time
- Choose one AO observation such as zero-line state or a precisely encoded histogram pattern.
- Wait for the histogram bar and price candle to complete.
- Mark the pre-existing structural location and failure point.
- Measure the invalidation distance in ATR units.
- Count every encoded example, including ambiguous and losing observations.
The indicator is one part of the method
These strategy pages show the market conditions, entry, stop and exit around the indicator.
Trend pullback
Research whether shallow retracements inside an objective trend resume in its direction.
- ENTRY
- After eligibility is true, place a market order at the next H1 open when the signal candle closes beyond the highest high of the previous two pullback bars for a long, or below their lowest low for a short.
- STOP
- Place the stop 0.25 × ATR(14) beyond the pullback extreme. Size so entry-to-stop risk equals 0.50% of demo equity, rounded down to 0.01 lot; never widen the stop.
- EXIT
- Place a fixed target at 2R immediately after entry. If neither stop nor target trades first, exit at market after 24 completed H1 bars.
Volatility-targeted momentum
Scales a simple momentum signal so higher-volatility pairs do not dominate risk.
- ENTRY
- At Monday 00:00 UTC, rebalance selected pairs to inverse-60-day-volatility weights, normalised to 10% ex-ante portfolio volatility and then reduced proportionally to satisfy every cap.
- STOP
- No chart stop. Cut a pair to zero at the next daily open if its one-day loss exceeds 3 × its 60-day daily volatility; suspend all new entries for one week if estimated portfolio volatility exceeds 15%.
- EXIT
- At each weekly rebalance, exit a pair that leaves its top/bottom-two rank, loses the 2% absolute-score threshold or breaches a risk rule; otherwise resize to the new capped target weight.
RSI divergence reversal
Tests whether a mismatch between price and RSI swings adds value after exhaustion.
- ENTRY
- Enter next bar open after price closes beyond the highest high of the five bars ending at the confirmed second low for bullish divergence; mirror below the five-bar low for bearish divergence.
- STOP
- Stop is 0.20 × ATR(14) beyond the second price pivot. Risk 0.50% of equity and round down to 0.01 lot.
- EXIT
- Take profit at 2R. Exit at market after 20 completed H4 bars if neither stop nor target has traded.
Set up Awesome Oscillator on your platform
Match the lesson's period, price input, smoothing and candle timing. Similar names can still produce different values across feeds and platforms.
MT4
Built inAvailable in the standard MT4 indicator library. Names and default settings can differ.
MT4 technical analysisWickAtlas MT4 setup guideMT5
Built inAvailable in the standard MT5 indicator library. Names and default settings can differ.
MT4 and MT5 comparisonWickAtlas MT5 setup guideTradingView
Built inAvailable in the standard TradingView indicator library. Names and default settings can differ.
TradingView indicatorsWickAtlas TradingView guide“Built in” means the standard platform library contains the underlying indicator. It does not mean its defaults or calculation match every third-party version. Compare the platforms.
Plain-language formula
The same indicator can look slightly different across platforms because the price input, smoothing and rounding may change. Note your settings before comparing two charts.
Where it may help
Testing zero-line, twin-peak and acceleration concepts with explicit rules.
Where it struggles
Visual pattern labels that are not objectively encoded.
What to pair it with
Pair it with something that answers a different question, such as volatility or market direction. Try the indicator on its own before adding more tools.
The shortcut to avoid
Renaming histogram shapes without measuring their reproducibility.
Try this on a chart
Encode each proposed pattern and report how many signals remain after costs.