Smoothed Awesome Indicator - MetaTrader 4 Script - MT4/MT5 Resources

This indicator is a modification of the classic indicator Awesome indicator .

It calculates the smooth rate of change of two smoothed moving averages . More precisely, the indicator has 3 inputs: shortmean and longmean representing two smoothed moving averages (5 and 34 respectively by default). The last input, meanAO, represents the smoothed moving average of the rate of change between the short mean and the long mean.

In the image below you can display the indicator on the EURAUD daily chart, where the inputs 5 and 34 represent the index average and 7 represents the rate of change average. You can compare this indicator with the classic Awesome indicator, which takes as input the index averages 5 and 34 in the image below.

I have attached the improved version of the AwesomeMod indicator as well as the new version AwesomeMod_EA, useful for EAs. You can display two versions of the chart here:

The only difference is that this indicator has only one buffer, so if you use it in an EA you must define:

 Double AOMod current = custom ( void ,0, "Awesome Mod_EA" ,short mean,long mean,meanAO, 0 , 0 );

double AOMod previous = custom ( void , 0 , "Awesome Mod_EA" , short mean, long mean, meanAO, 0 , 1 );

Attachment download

📎 AwesomeMod.mq4 (3.35 KB)

📎 AwesomeMod_EA.mq4 (2.71 KB)

Source: MQL5 #11106