This is a customized version of the default TradingView Awesome Oscillator indicator. I've followed what Bill Williams describes in his YouTube lecture (1) and book Trading Chaos (2).
The histogram is a 5 bar SMA subtracted by a 34 bar SMA and the line is the 5 bar SMA of the histogram.
Please comment to report bugs or to suggest improvements.
I love the default TradingView "Williams Fractal" indicator but I wanted want more flexibility to customize the style of the fractals like the wonderful indicator by @miyako.pro (1).
After noticing a missing fractal, I was intrigued to create a new indicator inspired by how Bill Williams describes fractals in his book Trading Chaos (2).
Please comment to report...
Hit rate greater than Setup 9.1
However, the stop of this setup becomes more expensive in certain situations.
1 - Paper comes in a bullish trend in the operational term to be operated.
2 - Exponential moving average of 9 upward periods.
3 - Wait for a candle to make the largest closing (candle reference).
4 - If the next candle CLOSES below the...
This indicator plots the oscillator as a histogram where blue denotes
periods suited for buying and red . for selling. If the current value
of AO (Awesome Oscillator) is above previous, the period is considered
suited for buying and the period is marked blue. If the AO value is not
above previous, the period is considered suited for selling...