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Thread: Awesome Indicator for MT4 Time Lapse Test

      
  1. #1
    Administrator Mike's Avatar
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    Video Awesome Indicator for MT4 Time Lapse Test



    This is one I actually think I must have wanted to try because of its name rather than seeing it here on the forum first. I literally must have had this for years and it has been sitting in my old MT4 waiting for me to come along and test it.

    It's literally called the "AWESOME OSCILLATOR" indicator for MT4, this is not the name I gave it or think it is "awesome" myself, but if you test it enough you see how on certain time frames this can help you understand when a reversal is likely, not all the time though so please keep that in mind.

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    Administrator Mike's Avatar
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    Default Re: Awesome Indicator for MT4 Time Lapse Test

    Watching the video again, please keep in mind those arrows are ridiculous, they came with this template I believe and am not even sure their name because I removed them from my charts at some point, look at them repaint constantly, just terrible.

    As for the rest of the set up, I drew two trend lines creating this expanding down trend channel and since we are so near to the top of that channel in the beggining of the video, coupled with the fact the awesome indicator not only showed weakness but went below zero expressing increasing weakness. And as far as I can tell the awesome indicator does not repaint more than 1 bar back on any of the time frames (except 1 minute which I did not try it on yet).

    My main point being we're near the top of a down trend channel, we see strength totally disappear and weakness increase, so it becomes a higher probability that this trade will be likely to succeed to the downside since we are so far away from the bottom of the channel, strength is gone, and we are so near to the top of the channel which if we were wrong about it being a short trade, we would exit directly at risking only a few pips while trying to gain many more in that move to the bottom of the channel.

  3. #3
    Pippier Than Thou! Johnni's Avatar
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    Default Re: Awesome Indicator for MT4 Time Lapse Test

    Quote Originally Posted by Mike View Post


    This is one I actually think I must have wanted to try because of its name rather than seeing it here on the forum first. I literally must have had this for years and it has been sitting in my old MT4 waiting for me to come along and test it.

    It's literally called the "AWESOME OSCILLATOR" indicator for MT4, this is not the name I gave it or think it is "awesome" myself, but if you test it enough you see how on certain time frames this can help you understand when a reversal is likely, not all the time though so please keep that in mind.
    The name is right. It is awesome.

  4. #4
    Hindsight Hero! DickP's Avatar
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    Default Re: Awesome Indicator for MT4 Time Lapse Test

    Another indicator great in hindsight but probably repaints in real time, so let's knock this one down too if possible

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    Administrator Mike's Avatar
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    Default Re: Awesome Indicator for MT4 Time Lapse Test


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    Default Re: Awesome Indicator for MT4 Time Lapse Test


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    Administrator Mike's Avatar
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    Default Re: Awesome Indicator for MT4 Time Lapse Test


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    Pips Are My Game Sel's Avatar
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    Default Re: Awesome Indicator for MT4 Time Lapse Test

    This is a great indicator, it looks like it.

  9. #9
    Show Me The Money! Johnston's Avatar
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    Default Re: Awesome Indicator for MT4 Time Lapse Test

    How awesome is this indicator really?


  10. #10
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    Default Re: Awesome Indicator for MT4 Time Lapse Test

    nice tool!

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