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.
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);
The Acceleration/Deceleration Indicator (AC) measures acceleration and deceleration of the current driving force.Average Directional Movement Index (ADX)
The Average Directional Movement Index Indicator (ADX) helps to determine if there is a price trend.