Superior Awesome

This is a classic indicator remade by ninZa.co. Awesome oscillator by Bill Williams is a well-known indicator with special signals for both trend following and trend fading. Its formula is simple: the Awesome plot value is equal to the difference between a fast MA and a slow MA.

Our NinjaTrader Awesome oscillator lets you configure and smooth the slow & fast moving averages separately, each can be selected from 10 popular MA types.

A popular signal of Awesome indicator is twin peaks, which helps identify possible trend reversals. This kind of signal is most reliable when you observe a clear divergence between Awesome oscillator and price action:

• Bullish reversal: This happens when there are 2 consecutive negative peaks and the later peak is higher than the former.
• Bearish reversal: This happens when there are 2 consecutive positive peaks and the later peak is lower than the former.

Another useful signal for trend followers is a saucer, whose shape looks like a disk placed beneath a coffee cup. Despite its simplicity, saucers are wonderful signals for traders who wish to join a trend. Details about twin peaks & saucer → https://www.tradingview.com/wiki/Awesome_Oscillator_(AO)

Key features:

• Plot Awesome oscillator
• Allow independently configuring fast MA, slow MA with
  11 popular moving averages
• Allow independently smoothing fast MA, slow MA with
  11 popular moving averages
• Allow specifying neighborhood (the number of bars to the left & right of a swing point)
• Colorize the plot in 4 different colors: positive increase, positive decrease, negative increase, negative decrease
• Trigger alerts on twin peaks & saucer appearance
• Print markers on twin peaks & saucer appearance
• Be NinjaScript ready for advanced usage, only restricted by your imagination
• Expose dedicated NinjaScript signals

Dedicated NinjaScript signals:

• Signal_TwinPeaks: 1 = bullish twin peaks, -1 = bearish twin peaks, 0 = no twin peaks
• Signal_Saucer: 1 = bullish saucer, -1 = bearish saucer, 0 = no saucer