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Free $50 To Start Trading Instantly! (Withdrawable Profit).Recommended Forex MetaTrader 4 Trading Platform The Extended Awesome Oscillator is simply an improved version of the Awesome Oscillator which provides signals and alerts.Įxtended Awesome Oscillator for MT4 is a Metatrader 4 (MT4) indicator and the essence of this technical indicator is to transform the accumulated history data.Įxtended Awesome Oscillator for MT4 provides for an opportunity to detect various peculiarities and patterns in price dynamics which are invisible to the naked eye.īased on this information, traders can assume further price movement and adjust their strategy accordingly. The Awesome Oscillator is one of the most popular technical indicators because it is an effective tool which traders actually use. Set the stop loss above the entry candle.Ĭlose the trade as soon as the bars become green. In a downtrend, open a sell order as soon as the bars cross below the signal line. Set the stop loss below the entry candle.Ĭlose the trade as soon as the bars become red. In an uptrend, open a buy order as soon as the bars cross above the signal line. The crossing of the bars over zero would indicate a long-term trend reversal, while the crossing of the signal line and zero would indicate a short-term trend reversal. Traders can use this indicator as a trend direction filter as the bars typically stay above zero during an uptrend, and below zero during a downtrend.īoth signals can also be used as a reversal entry signal. This indicator can provide alerts for signals based on the crossing over of the bars and the signal line, as well as the crossing of the bars over zero. This can be modified on the “SignalShift” variable. This indicator also allows the signal line to be shifted forward or back. “Signal” refers to the number of periods of the moving average line used to plot the signal line. “Fast” and “Slow” refers to the number of periods in which the underlying pair of SMAs are based on. This indicator has several variables that can be modified within its settings. How to use the Extended Awesome Oscillator for MT4 The signal line is simply a moving average of the bars which is preset at 5 periods. Green indicates that the value is higher, while red indicates that the value is lower. The color of the bars is based on the value of the current bar is higher than that of the previous bar. The difference between the two are plotted as histogram bars. These SMAs are typically preset as a 5 SMA and 34 SMA line. This indicator computes for the difference between two Simple Moving Averages (SMA) which are based on the midpoint of each bar.
How the Extended Awesome Oscillator Works? It also provides alerts that would notify traders on a probable reversal signal. Negative red bars indicate a strengthening bearish trend, while negative green bars indicate a weakening bearish trend.Īside from the bars, the Extended Awesome Oscillator also adds a signal line on its oscillator window. Positive green bars indicate a strengthening bullish trend, while positive red bars indicate a weakening bullish trend. The color of the bars also changes depending on the direction of the short-term momentum. Positive bars indicate an uptrend, while negative bars indicate a downtrend. This indicator plots histogram bars which oscillate around a midpoint which is zero. It detects trend and momentum direction, trend strength, as well as potential trend and momentum reversals. The Extended Awesome Oscillator indicator is a trend following technical indicator which is a modification of the classic Awesome Oscillator (AO).
What is the Extended Awesome Oscillator Indicator? Let us look into the Extended Awesome Oscillator which is an improved version of the Awesome Oscillator. The Awesome Oscillator is one of the most popular trend-following indicators that traders use. Introduction to the Extended Awesome Oscillator Indicator
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