Far-out

Does the word "far-out" mean "great" or "fantastic"??
For example,
That's a far-out movie.
Does it mean "That's a good movie." ?

Or, does "far-out" sometimes mean "strange" or something like that?
I can understand this word is often used with positive comments, but it's not clear to me.
Could you help me with this word?
With some examples, please!!

Thanks for your help in advance.

Candy

Thanks Maj, I got it.
It generally means strange.
I know it's often up to the context, but sometimes very confusing for me.
Thanks for your help again.

Far-out
exclamation OLD-FASHIONED SLANG
excellent:
You got the job? Far-out!

far-out (STRANGE)
adjective SLANG
strange and unusual:
I've seen the video - it's pretty far-out.

(from Cambridge Advanced Learner's Dictionary)

Far-out has two different meaning...though one could argue they are related.

1. strange, futuristic, unusual
Example:
a)Do you think people can actually live on Mars? 
b)Hmmm, I don't know, but it sure is a far-out idea.

2. excellent, cool (slang)
Example:
a)Check out my brand new car.  It's a hybrid.  It runs on gas and electricity and gives me a great mileage. 
b)Wow, that's far-out man!