FRAMA Awesome Oscillator (FAO)

FRAMA Awesome Oscillator (FAO) is an indicator that is non-limiting oscillator, providing insight into the weakness or the strength of a security. The Oscillator is used to measure market momentum and to affirm trends or to anticipate possible reversals. It does this by effectively comparing the recent market momentum, with the general momentum over a wider frame of reference.

FRAMA stands for [Fractal Adaptive Moving Average]

The Oscillator in the script is calculated using FRAMA of length 55
which is segmented by EVWMA [Elastic Volume weighted moving average] of FRAMA

Calculations:
AO = (Difference of FRAMA and eVWMA basis of FRAMA) or diff
Represented by green and red columns

The black segmenting line is an eVWMA line of diff and is of length 21


This indicator may be useful in finding divergences and can be traded as we trade awesome oscillator in general