Awesome Oscillator Indicator is known as momentum indicator. It reflects the strength of the trend and trend reversal. You can monitor the current status/strength of the trend time to time on any time frame chart that suits you best. The reason behind the popularity of this indicator is it can be used in a very basic way to spot price action divergences prior to the change in trend direction. This indicator also has an ability to express the possible length of the current momentum.
Awesome Oscillator Indicator Overview
| Time Frame | Currency Pairs | Name of Indicator | Rating |
| Any | Any | Var moving average | 9.5/10 |
After you install this indicator in you metatrader 4 trading platform, you will find the chart like this:
About Awesome Oscillator Indicator
Reading Awesome Oscillator is pretty simple and easy. The parameter at zero means the trend is nutral, above zero indicates a bullish momentum and below zero indicates a bearish momentum. Althoguh, the most important fact is it generates a very strong trend reversal signal through divergence with price action.
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Awesome Oscillator Indicator: Buy Parameters
- Forex pair you are watching should be creating a lower low
- Forex pair should be bouncing back from lower low point
- Awesome oscillator should be creating a higher low at the same time
- Place your long position when all of the above conditions are met
- Place your stop loss below the lower low area of price
- Take your profit when Awesome oscillator starts to turn downwards
Awesome Oscillator Indicator: Sell Parameters
- Forex pair you are watching should be creating a higher high
- Forex pair should be bouncing back from higher high point
- Awesome oscillator should be creating a lower high at the same time
- Place your long position when all of the above conditions are met
- Place your stop loss above the higher high area of price
- Take your profit when Awesome oscillator starts to turn up wards.
