Smoothed Awesome Indicator
Info
The Smoothed Awesome Indicator is a Indicator for MetaTrader 4 that description: this indicator is a modification of the classical awesome indicator. It computes the smoothed rate of change of two smoothed moving averages.
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 Smoothed Awesome Indicator
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
Description: this indicator is a modification of the classical awesome indicator.
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.
Description: this indicator is a modification of the 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, indicates the smoothed moving average for the rate of change between the shortmean-longmean. In the following image you can see 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. Remark: I attached an improved version of awesomemod indicator as well as a new version, awesomemod_ea, useful for ea's. Here you can see 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);Also recommended: Smoothed RSI Inverse Fisher Transform Indicator - similar indicator with strong performance on MetaTrader 4.
You may also like: Awesome Bar Counter - excellent alternative for indicator users on MetaTrader 4.
Source Code
#property copyright "robotfx"
#property link "https://robotfx.org"
#property indicator_separate_window
#property indicator_buffers 3
#property indicator_color1 green
#property indicator_color2 red
extern int short_mean = 5;
extern int long_mean = 34;
extern int meanao = 7;
double upbuffer[];.......
⚠ 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.