Description:
The Smoothed Awesome Indicator is a refined version of the classic Awesome Indicator, tailored for traders looking to enhance their analysis on MetaTrader 4.
This indicator calculates the smoothed rate of change between two smoothed moving averages. Specifically, you’ll find three main inputs: shortmean and longmean, which represent the two smoothed moving averages (default settings are 5 and 34), and the meanAO, which indicates the smoothed moving average for the rate of change between these two averages.
Check out the image below showcasing the Smoothed Awesome Indicator applied to a daily chart of EURAUD, using inputs of 5 and 34 for the exponential means and 7 for the mean of the rate of change. You can also see how it stacks up against the traditional Awesome Indicator using the same exponential averages.
Note:
I've included an enhanced version of the AwesomeMod indicator along with a new variant, AwesomeMod_EA, designed specifically for use in Expert Advisors. Below is a chart featuring both versions:
The primary distinction is that the AwesomeMod_EA features a single buffer. If you’re incorporating this into an EA, you’ll need to define your code as follows:
double AOModCurrent = iCustom(NULL,0,"AwesomeMod_EA",short_mean,long_mean,meanAO,0,0); double AOModPrevious = iCustom(NULL,0,"AwesomeMod_EA",short_mean,long_mean,meanAO,0,1);
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