AwesomeOC - MetaTrader 4 Script | Forex Indicators Download - MT4/MT5 Resources
Bill Williams' modification of the standard momentum oscillator. Recommended time frame - М15.
It is better suited to capture small moves (around 100 pips) in volatile currency pairs.
Upper indicator - modified, lower - standard
The additions take into account current and previous average median prices. As can be seen from the figure, considering two periods results in a smoother indicator chart, except of course in tight markets. During flat periods it will often clearly show the opposite signal. That is, for example, if you enter a trade during a sideways period and the indicator shows a buy signal, it is worth considering selling.
Attachment download
📎 awesomeoc.mq4 (3.68 KB)
Source: MQL5 #15902
AwesomeOC - MetaTrader 4 script | Forex indicator download - MT4/MT5 resource usage and screening suggestions
AwesomeOC - MetaTrader 4 Script | Foreign Exchange Indicator Download - MT4/MT5 resources are foreign exchange indicator related resources. Before downloading or referencing, it is recommended to confirm the platform version, transaction type, time period, whether DLL is required, whether source code is included, parameter description and historical update records.
Both automated trading tools and foreign exchange indicators should first undergo backtesting, simulated account observation, and small capital verification. Pay special attention to spreads, slippages, maximum drawdowns, position opening frequency, stop loss methods, trading periods and broker rules, and avoid direct real-time execution based only on titles or short-term profit descriptions.
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