OPEN-SOURCE SCRIPT

Awesome Oscillator and MACD Histogram

This is a quick script that combines two standard indicators, the Awesome Oscillator and MACD histogram, to highlight the beginnings of periods of fast price movement (divergence between the two). Since MACD's EMA responds more quickly than AO's SMA, look for periods of green over gold as a bullish signal, and red under blue as a bearish signal.

Of course both indicators are lagging in nature, but the presence of this divergence often leads larger, continued movement in the same direction.

Bullish Signals
  • Change from red to green below 0 with either blue or gold above 0 (strengthened on second green bar):
    snapshot
  • Rising green above 0 with gold below 0:
    snapshot


Bearish Signals
  • Change from green to red above 0 with either blue or gold below 0 (strengthened on second red bar):
    snapshot
  • Deepening red below 0 with blue above 0:
    snapshot
Awesome Oscillator (AO)Bill Williams IndicatorsCentered OscillatorsconfigurableDivergencepredictiveTrend Analysis

Script open-source

Dans le plus pur esprit TradingView, l'auteur de ce script l'a publié en open-source, afin que les traders puissent le comprendre et le vérifier. Bravo à l'auteur! Vous pouvez l'utiliser gratuitement, mais la réutilisation de ce code dans une publication est régie par nos Règles. Vous pouvez le mettre en favori pour l'utiliser sur un graphique.

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