Awesome oscillator – extended – indicator for MetaTrader 5

  • Platform: Metatrader5
  • Currency pairs: Any pairs, indices and metals
  • Trading Time: Around the clock
  • Recommended broker: icmarkets, XM
  • Awesome oscillator exists as an indicator in MetaTrader 5 already .


    This version adds some options and extra functionality.

    You can use 4 types of averages for calculation:

    • simple moving average (default — by definition this is what awesome oscillator uses)
    • exponential moving average
    • smoothed moving average
    • linear weighted moving average

    Extended set of prices. Among the prices you can use heiken ashi prices which, implicitly, makes it the same as if you would use the indicator on an offline heiken ashi chart.

    The indicator has usual set of alerts added (alerts on opened or closed bar, messages, sounds, emails, push notifications) and it is made multi time frame.

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    PS: as usual awesome oscillator is very similar to MACD(MACD, by definition uses exponential moving average for calculations) and can be used in a very similar way (momentum, divergence and similar). To make this version flexible, unlike the original awesome oscillator (which uses periods 5 and 34 and can not be changed), this version allows to use any period for calculation.

  • How to install MT5 indicator?
  • 1. On the desktop, double-click to open the MT45 trading platform software you installed.
  • 2. Click on “File” in the upper left corner – “Open Data Folder”, double-click the MQL5 folder, and double-click the Indicators folder
  • 3. Copy the metrics you need to install to the Indicators folder
  • 4. Open MT5, find “Navigator” in the display menu, then click “Technical Indicators” of “Navigator” and right click to refresh, you will see the indicator just copied.
  • 5. In the “Technical Indicators” of “Navigator”, find the indicator file just installed, double click or click manually to the chart window
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