The Awesome Oscillator is a useful forex indicator designed for the MetaTrader 5 (MT5) platform. It is a popular tool among traders due to its ability to identify market momentum and potential reversals. This indicator is available for free and can be easily downloaded and installed on your MT5 platform. The Awesome Oscillator works by calculating the difference between a 34-period and a 5-period Simple Moving Average (SMA) on the price chart. It then presents this information in a histogram format, making it easy to visually interpret the momentum of the market. Traders can use the Awesome Oscillator to confirm trends, spot potential buy or sell signals, and determine the strength of a trend. By utilizing this indicator, traders can gain valuable insights into market movements and make more informed trading decisions.
MT5
Awesome Oscillator
Awesome Oscillator Indicator for MT5 is a popular and useful forex indicator that is available for free. It works by displaying the difference between a 34-period and a 5-period simple moving average on a chart. Traders can use it to identify trends and potential reversal points in the market. To use the indicator, simply add it to your MT5 platform and interpret the signals it provides.
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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.
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