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Strategies / Momentum / Falling Awesome Oscillator Rebound

Falling Awesome Oscillator Rebound

Buys after the Awesome Oscillator has fallen for 5 consecutive values, calculated from 5 and 34 period averages of the median price. Closes the long when the earlier fall ends, or when the close drops below 0.98 times the entry close.

MomentumLong onlySwingNasdaq 1004 hours
n/aProfit factor
12,166Net profit EUR
47.76%Win rate
1,918Trades
-5,728Max drawdown
6.34Avg trade

Best run of 11. Nasdaq 100, 4 hours, spread 3, from run sweeps:2026-10-03-NAS100-4h-opt.tsv:59.

Entry rules, long

  2. The Awesome Oscillator also fell over bars 2 to 4 back, making 5 consecutive falling values.

Exit rules

  2. While long, the Awesome Oscillator falls over the last three bars but not over bars 2 to 4, closing the long.

Test conditions

PeriodUp to 2026-10-03
InstrumentNasdaq 100, 4 hours
Spread3 points
Starting capital1,000,000
CostsSpread only. Commissions and overnight financing are not included.
BarsUp to 200,000 bars, fewer where the instrument has less history
Last tested2026-10-04

Every run

Markets and timeframes tested

MarketTimeframePFTradesWin %NetMax DD
Nasdaq 100Best run4 hoursn/a 1,91847.7612,166 EUR-5,728
SilverDailyn/a 91837.0420,746 USD-17,013
Nasdaq 100Dailyn/a 86841.7118,097 EUR-6,454
Dow Jones4 hoursn/a 61747.8117,685 EUR-9,569
Dow JonesDailyn/a 1,04846.0915,453 EUR-10,102
DAX 404 hoursn/a 1,83449.3510,323 EUR-5,939
DAX 40Dailyn/a 1,13839.986,571 EUR-5,087
S&P 500Dailyn/a 1,10445.023,325 EUR-1,532
Gold4 hoursn/a 1,82849.512,478 EUR-863
S&P 5004 hoursn/a 1,88549.712,171 EUR-1,767
GoldDailyn/a 95743.161,891 EUR-1,244

Charts

Results by run

Top 10 of 11 runs. The full list is in the table above.

Net profitMax drawdown

The code

ProBuilder code, as tested

// ==============================================================
// Falling Awesome Oscillator Rebound
// ProRealAlgos Strategy Library  |  prorealalgos.com
// Type: Momentum
// Direction: Long only
// Timeframe tested: 4 hours
// ==============================================================

DEFPARAM CumulateOrders = false

ONCE openprice = 0

ao = Average[5](MedianPrice) - Average[34](MedianPrice)

16 more lines: the entry and exit rules.

Setup

How to load it

  1. Copy the code with the copy button on the code block.
  2. In ProRealTime, open a chart of the instrument and timeframe you want to test, then open ProOrder > New trading system and choose "Create with programming".
  3. Paste the code, give the system a name and save it.
  4. Click "Backtest", set your own spread and position size, and run it before you consider trading it live.

Indicators used

Awesome OscillatorSMA
Read this firstKnown weaknesses2 points
  • No profit factor is available, because only sweep results exist for this strategy.
  • The code sets no stop loss, so a losing trade stays open until an exit signal arrives.

Questions

About this strategy

Can I run Falling Awesome Oscillator Rebound in ProOrder?

Yes. The code is ProBuilder and runs as an automated ProOrder system. Backtest it on your own account with your own spread and position size before trading it live.

Which markets was it tested on?

It was tested on 11 market and timeframe combinations. The best run by trade count was Nasdaq 100, 4 hours, with 1,918 trades.

How large was the drawdown?

The best run had a maximum drawdown of 5,728 EUR at the tested position size, against a net result of 12,166 EUR.

Does it trade long, short or both?

It only takes long trades.

Related

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Past backtest results do not guarantee future results. This is not financial advice. Curated and maintained by ProRealAlgos. ProRealTime™ is a trademark of ProRealTime SAS. prorealalgos.comStatsDocs