Archive for February 2nd, 2011:
New AO Forex Divergence Indicator
Awesome Oscillator Forex Divergence Indicator
Bill Williams’ Awesome Oscillator (AO) is designed to show current market momentum and is displayed as a histogram. The Awesome Oscillator is created using the difference between the 34-period and 5-period simple moving averages of the bar’s midpoints (H+L)/2.
Each bar of the histogram that is higher than the preceding bar is green. Each bar that is lower than the preceding bar is red.
This indicator is intended to show what’s happening to the market for the current period (compared to the momentum of a longer period), and some traders use its signals for buying and selling decisions.
Forex Divergence Awesome Oscillator shows divergence areas on indicator and arrows on chart.
Learn more about Forex Divergence Indicators
BJF Trading Group inc.
http://iticsoftware.com
