There is a very good indicator: Awesome

This indicator is a very good momentum type indicator. Please could somebody will make this indicator even better by extending the functionality with alert system. It is necessary to add two types of alerts into this indicator to make it really very powerful:

1) Signal line alert (both message and sound than can be switched on/off)

2) Zero line crossover alert ( both message and sound than can be switched on/off )

Attached Files

Awesome_Signal.mq4 (3.3 KB, 23 views)

if you search , you can find something in MACD INDICATOR thread.

http://www.forex-tsd.com/296072-post292.html
i think macd-on-chart is suit indicator.

MACD indicator

MACD is a trend indicator, awesome is a momentum indicator. If you compare MACD and AO then the AO is much more accurate. I think that AO is the best momentum idnicator.

why AO is a momentum indicator?

AO's formulation is based on the difference between two moving averages : 5SMA , 35SMA .

Bill Williams has noted that he reached it by experience .

and MACD histogram's colomns is the difference two moving average 12EMA, 26EMA .

if you change the period of moving averages to 5,35 and also kind of them to SMA , and put the 9SMA in MACD in 1period , you earn the same , which called AO.

Attached Images

eur.gif (19.7 KB, 5 views)

Hello

Thank you for your attention. macd&rsi you are right, MACD and Awesome Oscillator are very similar in nature. There are only a minor differences.

Your linked MACD_colored_mladen.mq4 is very similar what I need. This indicator has all alerts systems etc. Even a different types of MACD calculations but it is not exact AO. I'm unable to modify it make it eact AO. I need AO because I am using Chaos trading system by Bill Williams.

Please could somebody modify this MACD_colored_mladen.mq4 to make it exact AO.

Awesome Oscillator - Bill Williams - Technical Indicators - Technical Analysis
AO is a 34-period simple moving average, plotted through the central points of the bars (H+L)/2, and subtracted from the 5-period simple moving average, graphed across the central points of the bars (H+L)/2.


MEDIAN PRICE = (HIGH+LOW)/2
AO = SMA(MEDIAN PRICE, 5)-SMA(MEDIAN PRICE, 34)

Attached Files

	MACD_colored_mladen.mq4 (8.4 KB, 10 views)
	MACD-on-chart.mq4 (2.8 KB, 9 views)

I forgot to mention in the previou spost that also the zero line crossover alert is needed.

Try this one. I set it to work on not closed bar BUT alert only once per bar per specified signal (buy/sell zeroline/signal)

Attached Files

Awesome_Signal_Alert.mq4 (4.1 KB, 29 views)

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Thank you very much . You have done everything I proposed. I'm live testing the indicator now.