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Asymmetrical RSI is an indicator that computes a custom relative strength index from the rate of change of a user-selected source. It plots the resulting ARSI line in a separate pane with color coding that turns green above the overbought level and red below t
Indicator · Pine Script v5 · Own pane
Awesome Oscillator
This indicator plots the Awesome Oscillator in a separate pane.
GitHub stars37on the repository
Pine versionv5runs as is
Lines of code9
Settings0inputs
LicenceMIT
Last update3 years ago10 Feb 2023
Add It to Your TradingView Chart
- 1Copy the scriptPress Copy script above, or the copy button on the code below.
- 2Open the Pine EditorOpen a TradingView chart and choose Pine Editor at the bottom of the screen.
- 3Paste over the templateCreate a new indicator, select all of the template text and paste. Press Save and give it a name.
- 4Add it to the chartPress Add to chart, then adjust the settings with the gear icon next to its name.
Source Code
9 lines of Pine Script v5 from Technical-Indicators/Technical Indicators are Here🤩/Awesome-Oscillator.pine, published under MIT. Keep the author's credit and licence lines when you reuse it.
//@version=5
indicator(title="Awesome Oscillator", shorttitle="AO", timeframe="", timeframe_gaps=true)
ao = ta.sma(hl2,5) - ta.sma(hl2,34)
diff = ao - ao[1]
plot(ao, color = diff <= 0 ? #F44336 : #009688, style=plot.style_columns)
changeToGreen = ta.crossover(diff, 0)
changeToRed = ta.crossunder(diff, 0)
alertcondition(changeToGreen, title = "AO color changed to green", message = "Awesome Oscillator's color has changed to green")
alertcondition(changeToRed, title = "AO color changed to red", message = "Awesome Oscillator's color has changed to red")
Overview
Awesome Oscillator subtracts a 34-period simple moving average of the high-low midpoint from a 5-period simple moving average of the same midpoint. Rising bars are drawn as teal columns and falling bars as red columns. Alerts fire when the column color changes from red to green or from green to red. There are no user inputs, and the script does not place trades or set stops.
- AO as SMA(hl2,5) minus SMA(hl2,34)
- Colored histogram columns
- Alerts on color change to green or red
- Separate pane display
Details
Published by
TWODS-CAPITAL on GitHub
Type
Indicator, Pine Script v5
Draws
Separate pane below the chart
Category
Oscillators & momentum
Markets
Any symbol
Timeframes
Any timeframe
Risk Notes
No repainting, lookahead or stacked entries were found in its code or README. That says nothing about how well it works: test it first.
Third-party code. ForexR did not write, test or endorse this script, and the summary above was generated automatically from its code and README. Indicators describe the past, and a strategy's backtest can look better than live trading, especially when a script repaints. Check it in the Strategy Tester and on a demo account before you rely on it.
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