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Elliott Wave Analysis - Awesome Oscillator
A description of the set up and use of the Awesome Oscillator, in Elliot Wave analysis.
The Awesome Oscillator is a form of MACD?
5, 34, 5
What are the variables for the AO? In other words the AO is a ___/___ histogram oscillator, with a ___ bar simple moving average signal line.
Wave ___ in Elliot Wave theory is found by finding the strongest peak on the AO? (unless wave 5 is extended)
For the AO: you need to set up the chart to show a histogram of ____ bars to a maximum of 140 bars on the screen. (you want to have a 5 wave sequence on screen)
Because oscillators are laggings indicators, the AO will identifiy the top or bottom of wave 3, and is seen as the greatest price, 1-5 bars on the oscillator prior to the peak in the oscillator.
The AO signals when minimum requirements have been met for the end of wave 4, when the histogram comes back and crosses the signal line.
When we see divergence between wave 3 peak and wave 5 peak, we look for a potential _______ of the direction of the trend.
A typical set up on the screen would be a 4 hour chart zoomed to a level that shows approximately ____ trading days on the screen.
The general idea with the signal line is to buy when it is above the zero line and ____ when it is below the zero line. (after taking into account your other indicators and wave counts)