High Accuracy Forex & Stocks Trading with Awesome Oscillator Indicator

Powerful Trading Strategies with the Awesome Oscillator. The Awesome Oscillator, created by Bill Williams, is a highly renowned indicator. Unlike the slow stochastic that ranges between +100 to -100, the Awesome Oscillator has no limits.

It calculates by using two simple moving averages and measures the current market driving forces. It achieves this by comparing the recent market momentum with the overall momentum across a broader time frame.

Now, let’s delve into three of the most popular strategies for day trading with the Awesome Oscillator.

The saucer trading strategy means that the trader is trying to find a specific setup of three consecutive bars on the histogram, in order to detect a bullish or bearish signal.

This strategy searches for quick changes in the momentum of the Awesome Oscillator histogram, all on the same side of the zero line. Consequently, the Awesome Oscillator saucer setup can be identified as follows:

• Awesome Oscillator is above 0.
• There are two consecutive red histograms.
• The second red histogram is shorter than the first.
• The third histogram is blue.
• A trader buys the fourth candlestick on the open.

• Awesome Oscillator is below 0.
• There are two consecutive blue histograms.
• The second blue histogram is shorter than the first.
• The third histogram is red.
• Trader shorts the fourth candlestick on the open.

Without going into too much detail, this sounds like a basic 3 candlestick reversal pattern that continues in the direction of the primary trend.

The Twin Peak strategy is a straightforward approach that seeks a double bottom pattern in the Awesome Oscillator indicator. Twin Peaks involves analyzing the disparities between two peaks on the same side of the Zero Line.

For a Bullish Twin Peaks setup, two peaks should emerge below the Zero Line. The second peak should be higher than the first peak and followed by a blue bar. Importantly, the trough between the peaks must consistently remain below the Zero Line.

For a Bearish Twin Peaks setup, two peaks should appear above the Zero Line. The second peak must be lower than the first peak and followed by a red bar. Throughout the setup, the trough between the peaks should consistently remain above the Zero Line.

This strategy aims to keep us away from volatile markets and enables us to capture profits before waiting for confirmation from a break of the 0 line.

The Awesome Oscillator Trend line Cross setup can be identified as follows:

• Look for two swing highs on the Awesome Oscillator above the 0 line.
• Connect these two swing highs with a downward trend line passing through the 0 line.
• Buy when the trend line is broken.

• Identify two swing lows on the Awesome Oscillator below the 0 line.
• Connect these two swing lows with an upward trend line passing through the 0 line.
• Sell short when the trend line is broken.

• Download “TraderVersity-OwesomeOscillatorSystem” (Zip/RAR File).
• Copy mq4 and ex4 files to your Metatrader Directory …/experts/indicators/
• Copy the “TraderVersity-OwesomeOscillatorSystem.tpl” file (template) to your Metatrader Directory …/templates /
• Start or restart your Metatrader Client.
• Select Chart and Time frame where you want to test your forex system.
• Right-click on your trading chart and hover on “Template”.
• Move right to select “TraderVersity-OwesomeOscillatorSystem” trading system and strategy.
• You will see the “TraderVersity-OwesomeOscillatorSystem” is available on your Chart.

The Awesome Oscillator holds significant importance for traders as it provides valuable and in-depth market insights. It effectively identifies the prevailing market momentum, making it a unique and valuable tool.

Regardless of the strategy you employ, it is crucial to set up your Stop Loss orders and safeguard your profits.

We highly recommend combining this indicator with Price Action patterns or other indicators to generate more precise trading signals.Remember, these trading setups can be applied across various time frames and markets.

However, it’s essential to conduct your own backtesting to determine which pairs are most suitable for these strategies.

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