AwesomeModPips - MetaTrader 5 Script | Forex Indicators Download - MT4/MT5 Resources

This indicator is a modification of the classic indicator Awesome Oscillator Indicator. It calculates the smoothed difference of two exponential moving averages.

This indicator has 3 inputs: shortmean and longmean representing the periods of the two exponential moving averages (defaults are 30 and 60 respectively). The last input, meanAO, represents the period of the smoothed moving average of the difference (in points) between the short mean-long mean EMA.

This code essentially has three buffers:

ExtAOBuffer[i]=(ExtFastBuffer[i]-ExtSlowBuffer[i])/_Point/10;

Finally, use "include ”, we calculate the smoothed moving average of the last array ( external AO buffer ) to get the indicator.

In the image below, you can display this indicator on the USDJPY daily chart, where the inputs 5 and 34 represent the average of the index, and 7 represents the average of the differences between them.

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.

Here you can display the image using default parameters (30-60-30):

Attachment download

📎 awesomemodpips.mq5 (5.21 KB)

Source: MQL5 #11675