AwesomeFxTradera
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This script functions as a specialized visual tool designed to help traders identify momentum and trend direction in the financial markets. Rather than just showing raw price data, it translates complex movements into a clear, color-coded histogram that highlights whether the market's "energy" is shifting upward or downward.
Core Logic and Behavior
The underlying logic operates in three distinct stages:
1. Momentum Calculation The tool begins by analyzing two different "moving averages"—which are essentially smoothed versions of the market price. By calculating the difference between a fast-moving average (representing recent price action) and a slower-moving average (representing the broader trend), the script determines the current momentum. If the fast average is significantly higher than the slow average, it indicates bullish pressure; if it is lower, it suggests bearish pressure.
2. Trend Tracking The script doesn't just look at the value of the momentum at a single moment; it compares the current momentum to the value from the previous period. This allows the tool to recognize whether the momentum is accelerating, decelerating, or reversing. It tracks these transitions in real-time to decide which direction the "force" of the market is heading.
3. Visual Representation (The Histogram) To make this data easy for a human to read at a glance, the script converts these calculations into a visual histogram:
- Green Bars: These appear when the momentum is trending upward. They represent positive growth and are used to visualize "bullish" strength.
- Red Bars: These appear when the momentum is trending downward. They represent a loss in strength and are used to visualize "bearish" pressure.
Summary for the User
Instead of forcing you to interpret raw numbers, this script simplifies the market's behavior into a visual "tug-of-war." It identifies the speed and direction of price movement, highlighting with colors where the momentum is gaining strength and where it is beginning to fade, allowing for quicker identification of potential trend shifts.
//+------------------------------------------------------------------+
//| Awesome.mq4 |
//| Copyright © 2005, MetaQuotes Software Corp. |
//| http://www.metaquotes.net/ |
//+------------------------------------------------------------------+
#property copyright "Copyright © 2005, MetaQuotes Software Corp."
#property link "http://www.metaquotes.net/"
//---- indicator settings
#property indicator_separate_window
#property indicator_buffers 3
#property indicator_color1 Black
#property indicator_color2 Green
#property indicator_color3 Red
extern int Per_1=8;
extern int Per_2=13;
//---- indicator buffers
double ExtBuffer0[];
double ExtBuffer1[];
double ExtBuffer2[];
//+------------------------------------------------------------------+
//| Custom indicator initialization function |
//+------------------------------------------------------------------+
int init()
{
//---- drawing settings
SetIndexStyle(0,DRAW_NONE);
SetIndexStyle(1,DRAW_HISTOGRAM);
SetIndexStyle(2,DRAW_HISTOGRAM);
IndicatorDigits(Digits+1);
SetIndexDrawBegin(0,34);
SetIndexDrawBegin(1,34);
SetIndexDrawBegin(2,34);
//---- 3 indicator buffers mapping
SetIndexBuffer(0,ExtBuffer0);
SetIndexBuffer(1,ExtBuffer1);
SetIndexBuffer(2,ExtBuffer2);
//---- name for DataWindow and indicator subwindow label
IndicatorShortName("AO");
SetIndexLabel(1,NULL);
SetIndexLabel(2,NULL);
//---- initialization done
return(0);
}
//+------------------------------------------------------------------+
//| Awesome Oscillator |
//+------------------------------------------------------------------+
int start()
{
int limit;
int counted_bars=IndicatorCounted();
double prev,current;
//---- last counted bar will be recounted
if(counted_bars>0) counted_bars--;
limit=Bars-counted_bars;
//---- macd
for(int i=0; i<50; i++)
ExtBuffer0[i]=iMA(NULL,0,Per_1,0,MODE_EMA,PRICE_OPEN,i)-iMA(NULL,0,Per_2,0,MODE_EMA,PRICE_OPEN,i);
//---- dispatch values between 2 buffers
bool up=true;
for(i=limit-1; i>=0; i--)
{
current=ExtBuffer0[i];
prev=ExtBuffer0[i+1];
if(current>prev) up=true;
if(current<prev) up=false;
if(!up)
{
ExtBuffer2[i]=current;
ExtBuffer1[i]=0.0;
}
else
{
ExtBuffer1[i]=current;
ExtBuffer2[i]=0.0;
}
}
//---- done
return(0);
}
//+------------------------------------------------------------------+
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