AO Indicator Trending Higher For Ultra Russell 2000 Proshares (UWM)
The Awesome Oscillator for Ultra Russell 2000 Proshares (UWM) is showing a five day consistent uptrend, signaling building market momentum for the shares. Author and trader Bill Williams created The Awesome Oscillator Indicator (AO) and outlined the theory and calculation in his book “New Trading Dimensions”. The indicator shows the difference between two simple moving averages that can help define moving strength of the market. Bill Williams developed this indicator on the basis of earlier existed MACD and made a number of changes. The Awesome Oscillator subtracts a 34 period simple moving average (SMA) from a 5 period SMA. It illustrates what’s happening to the market driving force at the present moment. The interpretation is similar to MACD including buying when the oscillator cros ...