Create a Powerful trading system with Awesome Oscillator on Deriv

In the world of trading, It is very important to find and use high-quality trend Indicators and one of the most popular trading indicators among traders these days is the Awesome Oscillator. Awesome Oscillator is known for its simplicity and effectiveness. This indicator is very easy to use. However, In this article, I will show you how you can make this indicator even more effective and place high-quality trades.

What is an Awesome Oscillator?

Awesome Oscillator is one of the most popular technical tools developed by Bill Williams. This indicator is made from the composition of simple moving averages and histogram lines. This indicator consists of two moving averages: a 34-period SMA and 5 period SMA. This indicator has a histogram line that oscillates around a zero line which is obtained by subtracting the 34-period SMA from the 5-period SMA.

How to find and set Awesome Oscillator on Deriv?

 

How to find and set Awesome Oscillator on Deriv?

In order to find and set Awesome Oscillator on Deriv follow the steps given below:

Step 1: Log in to your Deriv chart. In case you don’t have one click here

Step 2: Set the Candlestick chart as the default chart. just click on the chart button.

Step 3: Select the desired currency you want to trade on from the asset button at the top of chart.

Step 4: Lastly, click on the indicator button and search for Awesome Oscillator in the list.

 

Find buying and selling opportunities with Awesome Oscillator on Deriv

 

 

You can find buying and selling opportunities with Awesome Oscillator on Deriv using the histogram colour changes in the histogram bar. when the histogram line colour changes from red to green it signals a bullish trend and you can place a buy trade here. vice versa, when the histogram line colour changes from green to red it signals a bearish trend and you can place a sell trade here.

How to use Awesome Oscillator on Deriv

You can Awesome Oscillator on Deriv in multiple ways such as

 

Trend confirmation: You can use the Awesome Oscillator to confirm the direction of the trend. When the histogram lines are constantly above line zero it signals a strong bullish trend. opposite When the histogram lines are constantly below line zero it signals a strong bearish trend.

 

 

Trend Reversal: You can even use this indicator to find possible trend reversals. when combined with other trend indicators like Support and Resistance you can find much more accurate signals for entry and exit.

 

Suppose, You have found a bullish signal with Awesome Oscillator and the price is near the support level it signals a possible upcoming bullish trend reversal and vice versa You have found a bearish signal with Awesome Oscillator plus it is near the resistance level it signals a possible upcoming bearish trend reversal.

 

 

 

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