FRAMA Awesome Oscillator (FAO)

FRAMA Awesome Oscillator (FAO) is an indicator that is non-limiting oscillator, providing insight into the weakness or the strength of a security. The Oscillator is used to measure market momentum and to affirm trends or to anticipate possible reversals. It does this by effectively comparing the recent market momentum, with the general momentum over a wider frame of reference.

FRAMA stands for

The Oscillator in the script is calculated using FRAMA of length 55
which is segmented by EVWMA [Elastic Volume weighted moving average] of FRAMA

AO = (Difference of FRAMA and eVWMA basis of FRAMA ) or diff
Represented by green and red columns

The black segmenting line is an eVWMA line of diff and is of length 21

This indicator may be useful in finding divergences and can be traded as we trade awesome oscillator in general

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 a publication is governed by House Rules. You can favorite it to use it on a chart.

Want to use this script on a chart?
Masters in Quantitative Finance,
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Algorithmic Trading Certifications
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