Forex and Stocks “AWESOME OSCILLATOR” Trading with RSI-EMA Filter

The Awesome Oscillator stands out as a widely recognized indicator created by Bill Williams.

Unlike the slow stochastic, which fluctuates within the range of +100 to -100, the Awesome Oscillator doesn’t have set boundaries.

It’s a straightforward calculation based on two simple moving averages, providing insights into the current market forces. This involves comparing the recent market momentum to the overall momentum observed over a broader time frame.

This is the best filter that will enhance the accuracy of the three Awesome Oscillator signals we discussed earlier.

This trading strategy aims to identify trading signals with the right trend and momentum. If we enter the market with the right signal, follow the correct short-term trend, and have the right momentum, it makes sense that your probability of winning becomes very high.

Alright, now let’s discuss the trading rules that must be met in this strategy.

• Download “ForexWOT-AwesomeRSIEMA” (Zip/RAR File).
• Copy mq4 and ex4 files to your Metatrader Directory …/experts/indicators/
• Copy the “ForexWOT-AwesomeRSIEMA.tpl” file (template) to your Metatrader Directory …/templates /
• Start or restart your Metatrader Client.
• Select Chart and Timeframe where you want to test your forex system.
• Right-click on your trading chart and hover on “Template”.
• Move right to select “ForexWOT-AwesomeRSIEMA” trading system and strategy.
• You will see the “ForexWOT-AwesomeRSIEMA” is available on your Chart.

• The price is above the EMA line. If the price is moving above the EMA line, the current market trend is bullish.
• The Awesome Oscillator shows a BUY signal by ;
  • strategy number 1 (Awesome Oscillator Trend Line Cross),
  • number 2 (Bill Williams’ Twin Peak Strategy),
  • or number 3 (Saucer Strategy).
• RSI line is above the level of 50 and trending upward.

• The price is below the EMA line. If the price is moving below the EMA line, the current market trend is bearish.
• The Awesome Oscillator shows a SELL signal by ;
  • strategy number 1 (Awesome Oscillator Trend Line Cross),
  • number 2 (Bill Williams’ Twin Peak Strategy),
  • or number 3 (Saucer Strategy).
• RSI line is below the level of 50 and trending downward.

If you are a momentum trader, then this Bill William’s Awesome OScillator strategy is just for you. No matter which strategy you use, don’t forget to place your Stop Loss and protect your profits.