awesome oc
Info
The awesome oc is a Indicator for MetaTrader 4 that modification of the standard awesome oscillator by bill williams. recommended timeframe - М15.
Usage
This tool is typically used for enhancing chart analysis and decision making.
Platform
This Indicator works exclusively on MetaTrader 4 (both build 600+ and newer versions).
Setup
Place the downloaded file in MQL4/Indicators folder via File ? Open Data Folder in MetaTrader 4.
How to Install and Use awesome oc
1. Installation: Place your file in the MQL/Indicators folder via "Open Data Folder" and restart your terminal.
2. Loading: Find the indicator in the Navigator, drag it onto your chart, and configure the input parameters in the popup window.
3. Customization: Press Ctrl+I to open the indicator list, select your tool, and click "Properties" to change colors, levels, or visual styles.
4. Updating: Replace the old file in the Indicators folder with the new version and restart the platform to apply changes.
Frequently Asked Questions
Q: Why is my indicator not showing? A: Verify the file is in the MQL/Indicators folder, or try right-clicking the "Indicators" tree in the Navigator and clicking "Refresh."
Q: Do custom indicators slow down the platform? A: Too many complex indicators can impact performance; remove unused ones via the "Indicator List" (Ctrl+I).
Q: Can I use MT4 indicators on MT5? A: No, MQL4 and MQL5 are distinct languages; ensure the indicator is compiled specifically for your platform version.
What this tool does
modification of the standard awesome oscillator by bill williams.
Typical Use Case
This Indicator excels in automated trading and technical analysis on MetaTrader 4.
Compatible Platform & Setup
This Indicator works on MetaTrader 4. Place the file in the MQL4/Indicators folder and restart the terminal.
Description & Settings
Related: awesome signal - enhanced trading indicator - another powerful indicator for MetaTrader 4 traders.
modification of the standard awesome oscillator by bill williams. recommended timeframe - М15.
Also recommended: Awesome Bar Counter - similar indicator with strong performance on MetaTrader 4.
it is more suitable for capturing small movements (abouts 100 points) on volatile pairs.upper indicator — modified, lower — standard
the addition lies in consideration of the current and the
previous
median average price. as it can be seen from the figure, consideration of two periods resulted in a more smoothed indicator graph, of course, except the nervous markets. during flats, it often clearly shows the opposite signal. that is, if, for example, entry was made during flat and indicator shows a buy signal, then it is worth considering selling.
You may also like: Smoothed Awesome Indicator - excellent alternative for indicator users on MetaTrader 4.
Source Code
#property copyright "robotfx"
#property link "https://robotfx.org"
#property description "this code is educational. feel free to use, modify and upgrade as you wish. visit robotfx.org for professional trading tools"
#property strict
#property indicator_separate_window
#property indicator_buffers 3
#property indicator_color1 black
#property indicator_color2 bisque
#property indicator_color3 tomato
double extaobuffer[];.......
⚠ 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.