OPEN-SOURCE SCRIPT
AwAc Oscillator
This indicator combines the Awesome Oscillator and the Accelerator Oscillator, allowing you to select either of them. It can be particularly useful when you want to utilize both oscillators along with the Parabolic SAR to develop a powerful trading strategy.
Strategy Overview
In the strategy described below, the Parabolic SAR should be added to the main chart.
Short Trade Criteria
The Awesome Oscillator turns red.
The Accelerator Oscillator turns red.
The Parabolic SAR is above the current candle.
All conditions for a short trade must be met below the 200 EMA.
Action: Go short at the opening of the next candle.
Long Trade Criteria
The Awesome Oscillator turns green.
The Accelerator Oscillator turns green.
The Parabolic SAR is below the current candle.
All conditions for a long trade must be met above the 200 EMA.
Action: Go long at the opening of the next candle.
Strategy Overview
In the strategy described below, the Parabolic SAR should be added to the main chart.
Short Trade Criteria
The Awesome Oscillator turns red.
The Accelerator Oscillator turns red.
The Parabolic SAR is above the current candle.
All conditions for a short trade must be met below the 200 EMA.
Action: Go short at the opening of the next candle.
Long Trade Criteria
The Awesome Oscillator turns green.
The Accelerator Oscillator turns green.
The Parabolic SAR is below the current candle.
All conditions for a long trade must be met above the 200 EMA.
Action: Go long at the opening of the next candle.
Open-source script
In true TradingView spirit, the author of this script has published it open-source, so traders can understand and verify it. Cheers to the author! You may use it for free, but reuse of this code in publications is governed by House rules. You can favorite it to use it on a chart.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.