MQL5 - Language of trade strategies built-in the MetaTrader 5 client terminal

Source code library - Expert Advisors, Indicators and Scripts

Buy Latest Technical Indicators in MetaTrader Market
To post a new code, please log in or register

Interesting script?
So post a link to it -
let others appraise it

You liked the script? Try it in the MetaTrader 5 terminal

2014.01.31 07:32
Smoothed Awesome indicator

Smoothed Awesome indicator - indicator for MetaTrader 4

| English Spanish Portuguese

Views:
6083
Rating:
votes: 3
Files:

Description:

This indicator is a modification of classical Awesome indicator.

It computes the smoothed rate of change of two smoothed moving averages. More precisely, the indicator has 3 inputs: shortmean and longmean stand for two smoothed moving averages (by default 5 and 34, respectively). The last input, meanAO, indicate the smoothed moving average for the rate of change between the shortmean-longmean.

In the followng image you can show this indicator in a daily chart of EURAUD with inputs 5 and 34 for the exponential means and 7 for the mean of the rate of change. You can compare the indicator with the classical Awesome indicator which has as inputs for the exponential averages 5 and 34 in the following image.

Image:

Remark:

I attached an improved version of AwesomeMod indicator as well as a new version, AwesomeMod_EA, useful for EA's. Here you can show a chart with both versions:

The only difference is that there is just one buffer for the indicator, so if you use it in an EA you have to define:

        double AOModCurrent = iCustom(NULL,0,"AwesomeMod_EA",short_mean,long_mean,meanAO,0,0);

        double AOModPrevious = iCustom(NULL,0,"AwesomeMod_EA",short_mean,long_mean,meanAO,0,1);