Strategy Bill Williams. Awesome Oscillator (AO)

This indicator is based on Bill Williams` recommendations from his book
"New Trading Dimensions". We recommend this book to you as most useful reading.
The wisdom, technical expertise, and skillful teaching style of Williams make
it a truly revolutionary-level source. A must-have new book for stock and
The 1st 2 chapters are somewhat of ramble where the author describes the
"metaphysics" of trading. Still some good ideas are offered. The book references
chaos theory, and leaves it up to the reader to believe whether "supercomputers"
were used in formulating the various trading methods (the author wants to come across
as an applied mathemetician, but he sure looks like a stock trader). There isn't any
obvious connection with Chaos Theory - despite of the weak link between the title and
content, the trading methodologies do work. Most readers think the author's systems to
be a perfect filter and trigger for a short term trading system. He states a goal of
10%/month, but when these filters & axioms are correctly combined with a good momentum
system, much more is a probable result.
There's better written & more informative books out there for less money, but this author
does have the "Holy Grail" of stock trading. A set of filters, axioms, and methods which are
the "missing link" for any trading system which is based upon conventional indicators.
This indicator plots the oscillator as a histogram where periods fit for buying are marked
as blue, and periods fit for selling as red. If the current value of AC (Awesome Oscillator)
is over the previous, the period is deemed fit for buying and the indicator is marked blue.
If the AC values is not over the previous, the period is deemed fir for selling and the indicator
is marked red.

오픈 소스 스크립트

이 스크립트의 오써는 참된 트레이딩뷰의 스피릿으로 이 스크립트를 오픈소스로 퍼블리쉬하여 트레이더들로 하여금 이해 및 검증할 수 있도록 하였습니다. 오써를 응원합니다! 스크립트를 무료로 쓸 수 있지만, 다른 퍼블리케이션에서 이 코드를 재사용하는 것은 하우스룰을 따릅니다. 님은 즐겨찾기로 이 스크립트를 차트에서 쓸 수 있습니다.

면책사항

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차트에 이 스크립트를 사용하시겠습니까?
////////////////////////////////////////////////////////////
//  Copyright by HPotter v1.0 15/04/2014
//    This indicator is based on Bill Williams` recommendations from his book
//    "New Trading Dimensions". We recommend this book to you as most useful reading.
//    The wisdom, technical expertise, and skillful teaching style of Williams make
//    it a truly revolutionary-level source. A must-have new book for stock and
//    The 1st 2 chapters are somewhat of ramble where the author describes the
//    "metaphysics" of trading. Still some good ideas are offered. The book references
//    chaos theory, and leaves it up to the reader to believe whether "supercomputers"
//    were used in formulating the various trading methods (the author wants to come across
//    as an applied mathemetician, but he sure looks like a stock trader). There isn't any
//    obvious connection with Chaos Theory - despite of the weak link between the title and
//    content, the trading methodologies do work. Most readers think the author's systems to
//    be a perfect filter and trigger for a short term trading system. He states a goal of
//    10%/month, but when these filters & axioms are correctly combined with a good momentum
//    system, much more is a probable result.
//    There's better written & more informative books out there for less money, but this author
//    does have the "Holy Grail" of stock trading. A set of filters, axioms, and methods which are
//    the "missing link" for any trading system which is based upon conventional indicators.
//    This indicator plots the oscillator as a histogram where periods fit for buying are marked
//    as blue, and periods fit for selling as red. If the current value of AC (Awesome Oscillator)
//    is over the previous, the period is deemed fit for buying and the indicator is marked blue.
//    If the AC values is not over the previous, the period is deemed fir for selling and the indicator
//    is marked red.
////////////////////////////////////////////////////////////
study("Bill Williams. Awesome Oscillator (AO)")
nLengthSlow = input(34, minval=1, title="Length Slow")
nLengthFast = input(5, minval=1, title="Length Fast")
xSMA1_hl2 = sma(hl2, nLengthFast)
xSMA2_hl2 = sma(hl2, nLengthSlow)
xSMA1_SMA2 = xSMA1_hl2 - xSMA2_hl2
cClr = xSMA1_SMA2 > xSMA1_SMA2[1] ? blue : red
pos = iff(xSMA1_SMA2 > xSMA1_SMA2[1], 1,
iff(xSMA1_SMA2 < xSMA1_SMA2[1], -1, nz(pos[1], 0)))
barcolor(pos == -1 ? red: pos == 1 ? green : blue )
plot(xSMA1_SMA2, style=histogram, linewidth=1, color=cClr)