Awesome Modified
This software component for MetaTrader 5 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 Modified
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
This indicator is a modification of classical .
It computes the smoothed rate of change of two . More precisely, the indicator has 5 inputs: shortmean, mediummean and longmean stand for three exponential averages (by default 18, 40 and 200, respectively). The last two inputs indicate the exponential average for the rate of change between the shortmean-mediummean and mediummean-longmean.
In the followng image you can show this indicator in a hourly chart of USDJPY with inputs 5, 34 and 200 for the exponential means and 12 and 18 for the means of the rates of change. You can compare the indicator with the classical Awesome indicator which has as inputs for the exponential averages 5 and 34.
Awesome Modified indicator
