The Awesome Oscillator provides us with the keys to the kindom.The AO measures the immediate momentum of the past 5 price bars, compared to the momentum of the last 34 bars.
It is a 34 bar simple moving average of the bar's midpoints (H-L)/2 substracted from a 5 bar simple moving average of the midpoints (H-L)/2 plotted in a histogram form.
The AO tells us exactly what is happening with the current momentum.
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