AO Alert mt5
- Indicators
- Aleksei Vorontsov
- Version: 1.10
- Activations: 10
AO-Alert mt5 — Professional Signal Indicator Based on Awesome Oscillator
AO-Alert mt5 is an auxiliary tool for MetaTrader 4 based on the analysis of the Awesome Oscillator (AO, by Bill Williams — a visual modification of the classic MACD, included in MT5 by default). The indicator is designed to identify key moments of trend emergence and development, making it ideal for scalping, intraday, and swing trading. AO-Alert mt5 helps you catch critical shifts in market dynamics and speeds up your decision-making process.
Indicator Features
AO-Alert mt5 generates three types of trading signals:
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Zero Line Cross ("AO crosses zero upwards/downwards")
This is not an independent trading signal but highlights the potential start of a new trend. -
"1 BUY" / "1 SELL"
Formed on the first correction of the histogram after crossing the zero line. The signal appears after the second bar of the opposite color closes (after a bullish cross, two red bars; after a bearish cross, two green bars). This is an optimal point to search for entries into a new trend. It is recommended to use pending orders (BUY/SELL Stop) to break the respective extreme. Note: having “space to the left” (no recent price action at the signal level) is a key condition for signal validity. -
"BUY" / "SELL"
These occur during ongoing trends, after each subsequent correction. The logic is similar to "1 BUY"/"1 SELL" but does not require the zero line to be crossed. Allows you to join an established trend on confirmed signals. Again, “space to the left” is recommended.
Benefits
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Saves Time: AO-Alert mt5 minimizes manual chart-watching, drawing your attention only to key moments via sound and visual notifications.
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Reduces Emotional Load: Respond only to signals, helping to reduce subjectivity and fatigue.
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Versatile: Suitable for most currency pairs and timeframes from M5 and higher.
Usage Recommendations
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Timeframes: M5 and above.
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Instruments: Best suited for highly volatile pairs (e.g., XAUUSD, USDJPY).
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Filtering: For greater accuracy, combine AO-Alert mt5 signals with technical levels, candlestick patterns, and additional indicators.
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Entry Tactics: Use pending orders to break the extreme after the signal. Delete pending orders if AO crosses the zero line in the opposite direction.
Installation Instructions
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Copy the indicator file to the MQL5\Indicators folder.
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Restart MetaTrader 5.
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Attach AO-Alert mt5 to your chosen chart.
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Adjust the parameters to fit your trading style.
AO-Alert mt5 Indicator — Parameters Description
OnZeroCross
Enables/disables alerts when the AO histogram crosses the zero level (true/false).
OnBarsChange
Enables/disables alerts on the first directional change of the AO histogram after crossing zero (true/false).
OnBarsChange1
Enables/disables alerts for subsequent AO directional changes (true/false).
ZeroCrossDaviation
AO deviation required to trigger the "Zero Line Cross" signal. Helps filter out false signals caused by minor fluctuations near the zero line.
ZeroCrossDaviation1
The minimum AO value (in absolute terms) required to generate BUY or SELL signals.
OnSendEMail
Enables sending signal notifications to your e-mail. (E-mail configuration in MetaTrader is required.)
ArrowOffsetPoints
Offset (in points) for all signal arrows relative to the High/Low of the signal bar:
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For SELL signals and "AO Zero Cross Down," arrows are drawn above the High of the signal bar.
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For BUY signals and "AO Zero Cross Up," arrows are drawn below the Low of the signal bar.
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For “1 BUY” and “1 SELL” signals, the offset is doubled so the arrows don’t overlap.
Example:
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ArrowOffsetPoints = 10 (default):
For XAUUSD, the arrow will be drawn 0.10 above the High or below the Low of the signal bar. For 5-digit Forex symbols — by 0.0010.
Trading Ideas
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"AO crosses zero": Use to confirm the start of a new impulse.
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"1 BUY/1 SELL": Optimal entry points after the initial impulse in a new trend (always check “space to the left”).
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"BUY/SELL": Entry opportunities after corrections within the current trend.
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Order Management: Enter using pending orders at the extreme shown by AO-Alert mt5, and remove pending orders if AO returns across the zero line.
AO-Alert mt5 — Signal Arrow Logic
Each time a signal is generated, AO-Alert mt5 draws a colored arrow on the chart at the bar where the signal occurred.
The type, color, and position of the arrow help you instantly recognize the trading situation:
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AO Zero Line Cross Down:
A red downward arrow (▼) appears above the High of the signal bar. -
AO Zero Line Cross Up:
A green upward arrow (▲) appears below the Low of the signal bar. -
First SELL signal:
An orange downward arrow (▼) appears above the High of the signal bar (with a double offset for clear separation). -
First BUY signal:
An aqua upward arrow (▲) appears below the Low of the signal bar (with a double offset for clear separation). -
Subsequent SELL signals:
A magenta downward arrow (▼) appears above the High of the signal bar. -
Subsequent BUY signals:
A blue upward arrow (▲) appears below the Low of the signal bar.
The arrow offset (in points) is adjustable in the indicator settings. This ensures all arrows are clearly visible and do not overlap, even if multiple signals occur on the same bar.
This logic provides instant visual feedback on the AO signal history directly on the chart — both in live trading and during visual backtesting.
