4 Color АО Indicator - MetaTrader 5 Script | Forex Indicator Download - MT4/MT5 Resources
The Momentum Oscillator displays the difference between two moving averages - a fast moving average and a slow moving average - in the form of a histogram. One way to apply this indicator is described in the book "Trading Chaos 2" by Bill M. Williams and Justin Gregory-Williams. The author recommends using moving averages with 5 and 34 parameters. The calculation method of the moving average is a simple moving average, and the price used in the calculation is the average price (highest price + lowest price)/2.
The ytg_Awesome indicator has the same drawing algorithm as the Awesome Oscillator indicator and also has four colors for its display and output settings for the moving average period, moving average method and used price settings.
Attachment download
📎ytg_awesome.mq5 (5.31 KB)
📎ytg_awesome_v2.mq5 (5.38 KB)
Source: MQL5 #1401
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