awesome oscillator trader
Info
The awesome oscillator trader is a Expert Advisor for MetaTrader 4 that this ea uses a modified awesome oscillator (ao) indicator. a buy signal is generated when a negative ao green bar appears after consecutive negative red bars.
Usage
This tool is typically used for automated trading on major forex pairs and gold.
Platform
This Expert Advisor works exclusively on MetaTrader 4 (both build 600+ and newer versions).
Setup
Place the downloaded file in MQL4/Experts folder via File ? Open Data Folder in MetaTrader 4.
How to Install and Use awesome oscillator trader
1. Installation: Open the "File" menu, select "Open Data Folder," navigate to MQL/Experts, paste your file, and restart the terminal.
2. Activation: Drag the EA from the Navigator onto a chart, ensure "Allow live trading" is checked in the Common tab, and verify the AutoTrading button is green.
3. Optimization: Right-click your chart, choose "Expert List," click "Properties" to adjust inputs, and save your preferred setup as a set file for future use.
4. Maintenance: Regularly check the "Experts" tab in the terminal window to monitor trade logs and potential execution errors.
Frequently Asked Questions
Q: Why is my EA not opening trades? A: Check the "AutoTrading" button, ensure "Allow live trading" is enabled, and verify your broker allows automated trading on your account type.
Q: Can I run multiple EAs on one chart? A: No, each chart can only host one active EA; however, you can open multiple charts for different currency pairs to run several EAs.
Q: What does the "smiley face" icon mean? A: A smiley face in the top-right corner of the chart indicates the EA is successfully running; a frowny face means it is disabled.
What this tool does
this ea uses a modified awesome oscillator (ao) indicator.
Typical Use Case
This Expert Advisor excels in automated trading and technical analysis on MetaTrader 4.
Compatible Platform & Setup
This Expert Advisor works on MetaTrader 4. Place the file in the MQL4/Experts folder and restart the terminal.
Description & Settings
Related: awesome oscillator trader 2 - continuation of modification - another powerful expert for MetaTrader 4 traders.
this ea uses a modified awesome oscillator (ao) indicator. a buy signal is generated when a negative ao green bar appears after consecutive negative red bars. a sell signal is generated when a positive ao red bar appears after consecutive positive green bars. stochastics and bollinger bands are also used as trade entry filters. an open trade can be closed based on an ao bar color reversal. the red/green (up/down) indicator buffers and the fast/slow ao periods are accessed in the ea using the icustom() function. awesomev2.mq4 should be placed in the indicators folder. this ea uses the h4 eurusd chart and is tested from jan 2010 thru april 2019.
Also recommended: Automated Order Closure Tool for MT4/MT5 - similar expert with strong performance on MetaTrader 4.
You may also like: after effects - excellent alternative for expert users on MetaTrader 4.
Source Code
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⚠ Limitations & Risk Warning
- This tool is provided for educational and testing purposes only.
- Past performance does not guarantee future results.
- Trading involves substantial risk of loss. Use on a demo account first.
- Results may vary depending on market conditions, broker, and settings.
- We recommend thorough backtesting and forward testing before using with real funds.