The Awesome Oscillator Indicator is a popular free tool used by Forex traders to help identify market momentum. It is a great tool for helping traders to identify the best entry and exit points for their trades. The Awesome Oscillator Indicator is available for free on the popular MetaTrader 4 (MT4) trading platform. The Awesome Oscillator Indicator works by measuring the difference between a 34-period and a 5-period simple moving average of the bar’s midpoints. When the 34-period SMA is higher than the 5-period SMA, the bars are colored green. When the 5-period SMA is higher than the 34-period SMA, the bars are colored red. The Awesome Oscillator Indicator is a useful tool for traders looking to identify trends in the Forex market.
The Awesome Oscillator is a popular and useful Forex indicator for MT4. The indicator uses the difference between two moving averages to measure momentum and generate buy and sell signals. The Awesome Oscillator can be used to identify potential areas of support and resistance, which can help traders make informed decisions about when to enter and exit a trade. The Awesome Oscillator is a great tool for any trader looking to maximize their profits in the Forex market.
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How to Install
How install MT4/5 indicator in the terminal?
To install an MT4/5 indicator in the terminal, follow these steps:
Download the indicator file (.ex4 or .mq4/.ex5 or .mq5) to your computer.
Open the MT4/5 terminal and click on “File” in the top left corner.
Select “Open Data Folder” from the dropdown menu.
In the window that opens, double-click on the “MQL4/5” folder.
Double-click on the “Indicators” folder.
Drag and drop the indicator file from your computer into the “Indicators” folder.
Close the data folder window and restart the MT4/5 terminal.
The indicator should now be available in the “Navigator” window on the left-hand side of the terminal. Simply double-click on the indicator to add it to a chart.
Note: If the indicator is in a .zip file, you will need to extract it first before following the above steps.
And if asks to confirm DLL?
If the indicator you are installing requires access to external Dynamic Link Libraries (DLLs), you may see a pop-up message asking you to confirm the use of DLLs.
DLLs are external libraries that contain code that can be used by other programs. In the case of MT4/5 indicators, they are often used to perform complex calculations or connect to external data sources.
If you trust the source of the indicator and want to use it, click “Yes” to confirm the use of DLLs. If you are not sure or do not trust the source, click “No” to cancel the installation.
It’s worth noting that some indicators may not work properly without access to their required DLLs. If you choose not to allow access to DLLs and the indicator does not work as expected, you may need to reinstall the indicator and confirm the use of DLLs to get it to work properly.