Awesome OC
This software component for MetaTrader 4 is built to enhance the capabilities of your trading environment. This technical indicator acts as a specialized analysis tool designed to visualize market data. It helps traders identify emerging trends, momentum shifts, and key support or resistance levels by plotting statistical calculations directly onto price charts.
How to Setup 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.
Description & Settings
Modification of the standard Awesome Oscillator by Bill Williams. Recommended timeframe - М15.
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.
