Awesome Oscillator
a.k.a. AO
Bill Williams' momentum histogram: a 5-bar average of midpoints minus a 34-bar average, showing whether…
In plain English
Bill Williams' momentum histogram: a 5-bar average of midpoints minus a 34-bar average, showing whether short-term momentum beats the longer trend.
The Awesome Oscillator takes the middle of each bar (halfway between high and low), averages it over 5 bars and over 34 bars, and plots the difference as bars above or below zero.
Bars above zero: recent momentum is stronger than the longer picture, so buyers have the edge. Crossing below zero: the reverse. It pairs naturally with the alligator, from the same creator. The name is marketing; it is a plain momentum measure.
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