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Technical indicators
Awesome Oscillator and Gator Oscillator: Bill Williams Momentum Tools
The awesome oscillator is a momentum histogram attributed to Bill Williams. It is the 5-period simple moving average of the median price, (high + low) / 2, minus the 34-period simple moving average of the same price. Positive bars mean the short average is above the long one. It describes past bars and makes no forecast.
In brief
What is the awesome oscillator?
The awesome oscillator is one subtraction of two averages of median price. Here is its formula, a worked example from assumed averages, how the zero-line and saucer readings are described, and how the Gator Oscillator is built from the Alligator lines.
Key takeaways
- The awesome oscillator is the 5-period simple moving average of the median price minus the 34-period simple moving average of the same price. The median price of a bar is (high + low) / 2.
- The Gator Oscillator is two histograms of absolute differences between the Alligator lines. It shows how far apart the lines are, not which way they point.
- Zero-line crosses, saucers and twin peaks are shape conventions. They describe a sequence of bars and do not prove what price will do next.
- The indicator reads past and current bars. No RTX5 release record confirms an awesome oscillator or Gator feature. This guide explains the indicator in general.
Awesome oscillator meaning: what the histogram measures
The awesome oscillator compares two simple moving averages of the same input, the median price of each bar. The MetaTrader 5 help and the TradingView support article both attribute it to Bill Williams; neither gives a publication year. Both cited references describe the same two averages. Because the inputs are midpoints, each bar's high and low affect the reading, not only its close.
A positive value means the 5-period average is above the 34-period average. A value of zero means the two averages are equal. The indicator does not show how far price will move, or whether an instrument is cheap or expensive. For a separate momentum indicator, see what is MACD.
Awesome oscillator formula and the median price input
- Median price: (high + low) / 2 for each bar.
- Short average: the 5-period simple moving average (SMA) of the median price.
- Long average: the 34-period SMA of the median price.
- Awesome oscillator: the 5-period SMA minus the 34-period SMA. Written as a formula: AO = SMA(median price, 5) minus SMA(median price, 34).
Both cited sources use simple averages of midpoints, not closes. The periods count bars, so the timeframe changes the time span each reading covers.
Awesome oscillator worked example with given averages
This example uses assumed values, not market data, and starts from the two averages.
Example, median price: a bar with a high of 102.00 and a low of 99.00 has a median price of (102.00 + 99.00) / 2, which is 100.50.
| Bar | 5-period SMA | 34-period SMA | Awesome oscillator | Bar colour |
|---|---|---|---|---|
| 1 | 101.40 | 99.85 | 1.55 | No earlier bar to compare with |
| 2 | 101.10 | 99.90 | 1.20 | Lower than 1.55: amber in the diagram, red on TradingView |
| 3 | 99.90 | 100.00 | -0.10 | Lower than 1.20, below zero: amber in the diagram, red on TradingView |
| 4 | 100.20 | 100.00 | 0.20 | Green: higher than -0.10, above zero |
Example only. Each oscillator value is the 5-period SMA minus the 34-period SMA: 101.40 - 99.85 = 1.55; 101.10 - 99.90 = 1.20; 99.90 - 100.00 = -0.10; 100.20 - 100.00 = 0.20.
Bar 3 is the first bar below zero, so the cross falls between bars 2 and 3, and bar 4 crosses back above zero. Each cross only records how the 5-period average moved relative to the 34-period average. It says nothing about the next bar.
Zero-line crosses, saucers and twin peaks as the sources describe them
The MetaTrader 5 help and TradingView both describe a zero-line cross, a saucer and twin peaks, and each gives buy-side and sell-side forms. The saucer and twin-peak rules differ between them, so each source has its own row. The last column is this page's reading, not a source claim.
| Reading | Description in the cited sources | What it does not prove |
|---|---|---|
| Zero-line cross | MetaTrader 5, buy: two columns are enough, the first below zero and the second crossing it. Sell: the first column is over zero and the second is under it. TradingView: the AO crosses above or below the zero line. | That the price will rise or that the move will last. A cross shows only that the 5-period average moved above or below the 34-period average. |
| Saucer, MetaTrader 5 | Buy: all columns above zero. The second column is lower than the first and red, and the third is higher than the second and green. At least three columns are needed. Sell: the saucer signal is reversed and below zero. | That a move will follow, or that the pattern will hold after the bar closes. |
| Saucer, TradingView | Bullish, with the AO above zero: two consecutive red bars, the second lower than the first, followed by a green bar. Bearish, with the AO below zero: two consecutive green bars, the second higher than the first, followed by a red bar. | As for the MetaTrader 5 saucer. |
| Twin peaks, MetaTrader 5 | Buy: can form below zero. The bar chart stays below zero between the two peaks, and each new peak is higher, closer to zero, than the one before. If the bar chart crosses zero between the peaks, the buy signal does not function. Sell: the signal is above zero and reversed. | That the second trough marks the low of a move. Two troughs can line up while price keeps falling. |
| Twin peaks, TradingView | Bullish, with the AO below zero: two peaks below zero, the second higher than the first and followed by a green bar, and the trough between them stays below zero. Bearish, with the AO above zero: two peaks above zero, the second lower than the first and followed by a red bar, and the trough between them stays above zero. | That the second peak marks the end of a move. Two peaks can line up while price keeps moving the same way. |
Sources: MetaTrader 5 Awesome Oscillator help and TradingView support article, both checked 10 November 2026. The saucer and twin-peak rules differ between the two sources, so read the exact definition in your platform.
Where the cited sources agree and where they differ
Both cited sources give the same periods and price basis. Only TradingView states a general bar-colour rule. The table sets them side by side.
| Element | MetaTrader 5 help | TradingView support | This page |
|---|---|---|---|
| Price basis | Median price, (high + low) / 2 | Midpoints, (high + low) / 2 | Median price, (high + low) / 2 |
| Periods | 5 and 34 | 5 and 34 | 5 and 34 |
| Average type | Simple moving average | Simple moving average | Simple moving average |
| Bar colour | Colours given only in the saucer example: a lower bar coloured red, then a higher bar coloured green | Green when higher than the previous bar, red when lower | TradingView's general rule |
| Gator histograms | Absolute differences between Alligator lines | Not covered in the cited article | Construction only, in the Gator section |
Verified on 10 November 2026. Platforms that calculate the awesome oscillator from closing prices, or use other periods, are outside these two sources, and their readings will differ.
Gator Oscillator construction from the Alligator lines
The Gator Oscillator is two histograms built from three lines of the Alligator indicator: the Jaw, the Teeth and the Lips, as the MetaTrader 5 help names them. The Alligator periods and shifts are listed on the MetaTrader 5 Alligator page. This section describes the calculation, not a setup or a trading rule.
- Jaw (blue): a smoothed moving average (SMMA) of the median price, period 13, shifted forward 8 bars.
- Teeth (red): an SMMA of the median price, period 8, shifted forward 5 bars.
- Lips (green): an SMMA of the median price, period 5, shifted forward 3 bars.
- Upper histogram: the absolute difference between the Jaw and the Teeth.
- Lower histogram: the absolute difference between the Teeth and the Lips, drawn below the zero line.
The lower histogram is drawn with a minus sign because the chart is drawn top-down. Both histograms use absolute values, so the Gator shows distance between the lines, not direction.
Example, construction only: assume the Jaw is 100.00, the Teeth 99.20 and the Lips 98.70, all aligned to one bar. The upper histogram is |100.00 - 99.20|, which is 0.80. The lower is |99.20 - 98.70|, which is 0.50, drawn as -0.50.
How to check an awesome oscillator reading on your chart
- 01
Confirm the price basis
The input should be the median price, (high + low) / 2, not the close. A close-based chart shows different values.
- 02
Confirm the periods
Check the 5 and 34 settings, or the values you set yourself, and note the timeframe.
- 03
Compare the colour
On TradingView's rule, a bar should be green when it is higher than the bar before it and red when it is lower. A mismatch can come from a different setting, input or colour rule.
What the awesome oscillator cannot tell you
- It is built from past bars. Both averages use bars that have already formed, so a cross shows what happened, not what comes next.
- Slow averages arrive late. A 34-period average reacts slowly, so a zero-line cross can come well after a turn in price.
- Ranges produce repeated crosses. In a sideways market the 5-period and 34-period averages can cross many times, and the bars can alternate colour.
- The periods are conventions. Both cited sources use 5 and 34. Other periods give other readings, so compare like with like.
- Shape names describe shapes. Saucers and twin peaks describe a sequence of bars. They do not prove that price will follow.
A momentum reading is easier to judge alongside price and volume. See volume in trading and what is price action trading.
Risk disclosure
- The awesome oscillator and the Gator Oscillator are calculated from past prices. A zero-line cross or a saucer describes a past sequence of bars and does not predict the next one.
- Averages react with a delay, so a reading can change after price has already moved. In a range, it can flip back and forth.
- Shape conventions such as saucers and twin peaks differ across sources, so a reading may not match a chart you have seen elsewhere.
- This page is educational and is not personal financial advice. Trading can lose money, including positions opened on an indicator reading. Position size and a stop-loss plan are separate decisions, covered in the learn guide on stop-loss orders.
RTX5 status
This guide explains the awesome oscillator in general and does not describe an RTX5 feature. No RTX5 release record confirms which indicators, chart types or alerts the product includes. Its Windows desktop client is in preview, and the web and mobile clients are planned. A Google Play listing for Android is published, but the mobile client has no approved release record yet; check the product-availability record before relying on any RTX5 feature.
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Primary references
Sources were checked on 10 November 2026. They explain market rules and concepts; they do not certify RTX5 or provide individual financial advice.
MetaTrader 5 help: Awesome OscillatorChecked 10 November 2026. Gives the AO as the 5-period SMA minus the 34-period SMA of the median price, with the median price defined as (high + low) / 2. Calls it Bill Williams's Awesome Oscillator Technical Indicator. Gives bar colours only in the saucer example (a lower red bar, then a higher green bar) and describes the zero-line cross, saucer and twin peaks. Gives no publication year.MetaTrader 5 help: Gator OscillatorChecked 10 November 2026. Defines the upper histogram as the absolute difference between the Jaw and Teeth lines and the lower histogram as the absolute difference between the Teeth and Lips lines, shown with a minus sign because the chart is drawn top-down. The page sits under Bill Williams' Indicators. Does not describe a trading setup, and this page does not use one.MetaTrader 5 help: AlligatorChecked 10 November 2026. Lists the Jaw as an SMMA of the median price, period 13, shift 8; the Teeth, period 8, shift 5; and the Lips, period 5, shift 3. Used only for the line definitions behind the Gator construction.TradingView support: Awesome OscillatorChecked 10 November 2026. Describes the AO as the difference of 34- and 5-period simple moving averages of bar midpoints, (high + low) / 2. States that Bill Williams created it, gives the bar colour rule, and describes the zero-line cross, saucer and twin peaks in its own wording. Used as the second reference for the definition and as the source of the general green/red colour rule.RTX5 product availabilityRTX5 status record. Use it to check which RTX5 products and clients are live before relying on any feature.
Questions readers ask
What does the awesome oscillator mean?
The awesome oscillator is a momentum histogram attributed to Bill Williams. It shows the difference between a 5-period and a 34-period simple moving average of the median price of each bar. A positive value means the short average is above the long average. It describes past bars and forecasts nothing.
What are the default settings for the awesome oscillator?
The MetaTrader 5 help and the TradingView support article both use a 5-period and a 34-period simple moving average of the median price, (high + low) / 2. A platform that uses a different input or different periods will show different values, so check the settings before comparing charts.
What is the difference between the awesome oscillator and the Gator Oscillator?
The awesome oscillator is one histogram of two averages of the median price. The Gator Oscillator is two histograms built from the Alligator lines: the upper one is the absolute difference between the Jaw and the Teeth, and the lower one is the absolute difference between the Teeth and the Lips. The Gator shows distance between the lines, not their direction.
Does a zero-line cross mean I should buy or sell?
No. This page explains how a zero-line cross is described and does not give trading advice. A cross shows that the 5-period average moved above or below the 34-period average. The TradingView article uses bullish and bearish wording, but neither source shows that price will follow. Entry, exit and position size belong in a plan built around your own risk.
Is the awesome oscillator the same as MACD?
No. The awesome oscillator uses simple averages of the median price over 5 and 34 periods. MACD has its own inputs and construction, so the two readings should not be compared bar for bar.
Keep learning
What is MACD?The MACD formula, its signal line and histogram, and where the indicator lags.Fractals indicatorHow Bill Williams fractals are defined as five-bar patterns and how they are read.Volume in tradingHow trading volume is counted and why it is often read alongside momentum tools.What is price action trading?How traders read price moves and candles directly.What is trading?The basics of trading instruments, orders and risk.