The 4-color ΠΠ indicator – indicator MetaTrader 5
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The Awesome Oscillator indicator displays the difference of two Moving Averages – fast and slow in the form of the histogram. One way of applying of the indicator is described in book by Bill M. Williams and Justin Gregory-Williams: “Trading Chaos 2”. The author recommends to use 5 and 34 parameters of Moving Averages, where the method of calculation of Moving Average is a simple Moving Average and the price used for calculation is the average price (high+low)/2.
The ytg_Awesome indicator has the same algorithm of drawing as the Awesome Oscillator indicator, and also four color coloring of its display and output setting of the Moving Averages periods, the Moving Averages method and used price setting.
Description of the ytg_Awesome indicator settings:
Period_Fast – The period of averaging for calculation of fast Moving Average.
Period_Slow – The period of averaging for calculation of slow Moving Average.
ma_method – The method of averaging. It can have any values ββof the Moving Average method (Moving Average). 0 – (SMA) Simple Moving Average. 1 – (EMA) Exponential Moving Average. SMMA 2 – (SMMA) Smoothed Moving Average. LWMA 3 – (LWMA) Linear weighed Moving Average.
applied_price – Used price. It can be any of the price constants.
0 – (CLOSE) Close price. 1 – (OPEN) Open price. 2 – (HIGH) The maximum price. 3 – (LOW) The minimum price. 4 – (MEDIAN) The average price, (high+low)/2. 5 – (TYPICAL) Typical price, (high+low+close)/3. 6 – (WEIGHTED) Weighed close price, (high+low+close+close)/4.
