This tool is designed to enhance your trading experience by providing automated visual and notification cues based on the Awesome Oscillator (AO), a popular momentum indicator used to identify trend strength and reversals. Instead of requiring you to constantly watch the charts for subtle shifts, this script acts as an intelligent monitor that alerts you when specific market conditions are met.
Core Functionality
The script performs three main tasks: calculating momentum trends, identifying visual shifts in data, and delivering real-time notifications (Pop-ups and Emails).
1. Trend Identification & Visualization
The tool analyzes the relationship between two different moving averages to determine the current "speed" of price movement. It then translates this data into a clear visual format:
- Momentum Tracking: It calculates whether the market is gaining or losing strength.
- Color-Coded Histogram: The script automatically separates these movements into distinct visual bars (Histograms). This makes it much easier to see at a glance whether momentum is currently driving upward or downward.
- Signal Line Smoothing: It creates a secondary "Signal Line" based on the main data. This line acts as a baseline, helping traders filter out minor market noise to focus on more significant trend changes.
2. Automated Alert System
The primary purpose of this script is to notify you immediately when specific "crossover" events occur. You can customize which of these alerts you want to receive:
- Signal Line Crossovers: The tool monitors the main momentum data against its own signal line. When the momentum crosses over this line, it indicates a potential change in direction (a "Buy" or "Sell" opportunity).
- Zero-Line Crossovers: It watches for the moment momentum shifts from positive to negative (or vice versa) relative to the zero midpoint. This is often used to identify the transition between a bullish and a bearish market phase.
3. Multi-Channel Notifications
To ensure you never miss a potential trade, the script provides two layers of communication:
- On-Screen Alerts: Immediate pop-up notifications appear directly on your trading platform to grab your attention.
- Email Integration: If enabled, the tool will automatically send an email to your registered account. This allows you to stay informed about market movements even when you are away from your computer.
Summary for the Trader
Essentially, this script transforms a standard momentum indicator into a proactive assistant. It monitors the "heartbeat" of the market 24/7 and pings you specifically when the data suggests a trend reversal or a significant shift in momentum, allowing for faster reaction times and more consistent monitoring.
Indicators Used
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AO_Email Alerted
//+------------------------------------------------------------------+
//| AO_Email Alerted.mq4 |
//| Copyright © 2005, MetaQuotes Software Corp. |
//| DW Trading/Oromek Programming |
//| |
//+------------------------------------------------------------------+
#property copyright "DW Trading & Oromek Programming"
#property link "Your Welcome"
//---- indicator settings
#property indicator_separate_window
#property indicator_buffers 4
#property indicator_color1 Black
#property indicator_color2 MediumBlue
#property indicator_width2 4
#property indicator_color3 Crimson
#property indicator_width3 4
#property indicator_color4 CLR_NONE
extern int Fast = 5;
extern int Slow = 34;
extern int Signal=5;
extern int SignalShift=0;
extern bool EnableSignalLineAlert = false;
extern bool EnableZeroLineCrossoverAlert = true;
extern bool EMail_Signals=true;
//---- indicator buffers
double ExtBuffer0[];
double ExtBuffer1[];
double ExtBuffer2[];
double SignalBuffer[];
int a=0,b=0,c=0,d=0;
//+------------------------------------------------------------------+
//| Custom indicator initialization function |
//+------------------------------------------------------------------+
int init()
{
//---- drawing settings
SetIndexStyle(0,DRAW_NONE);
SetIndexStyle(1,DRAW_HISTOGRAM);
SetIndexStyle(2,DRAW_HISTOGRAM);
SetIndexStyle(3,DRAW_LINE,STYLE_SOLID);
SetIndexShift( 3, SignalShift);
IndicatorDigits(Digits+1);
SetIndexDrawBegin(0,34);
SetIndexDrawBegin(1,34);
SetIndexDrawBegin(2,34);
SetIndexDrawBegin(3,34);
//---- 3 indicator buffers mapping
SetIndexBuffer(0,ExtBuffer0);
SetIndexBuffer(1,ExtBuffer1);
SetIndexBuffer(2,ExtBuffer2);
SetIndexBuffer(3,SignalBuffer);
//---- name for DataWindow and indicator subwindow label
IndicatorShortName("Email Alerted AO");
SetIndexLabel(1,NULL);
SetIndexLabel(2,NULL);
//---- initialization done
return(0);
}
//+------------------------------------------------------------------+
//| Awesome Oscillator |
//+------------------------------------------------------------------+
int start()
{
int limit;
int counted_bars=IndicatorCounted();
double prev,current;
//---- last counted bar will be recounted
if(counted_bars>0) counted_bars--;
limit=Bars-counted_bars;
//---- macd
for(int i=0; i<limit; i++)
ExtBuffer0[i]=iMA(NULL,0,Fast,0,MODE_SMA,PRICE_MEDIAN,i)-iMA(NULL,0,Slow,0,MODE_SMA,PRICE_MEDIAN,i);
//---- dispatch values between 2 buffers
bool up=true;
for(i=limit-1; i>=0; i--)
{
current=ExtBuffer0[i];
prev=ExtBuffer0[i+1];
if(current>prev) up=true;
if(current<prev) up=false;
if(!up)
{
ExtBuffer2[i]=current;
ExtBuffer1[i]=0.0;
}
else
{
ExtBuffer1[i]=current;
ExtBuffer2[i]=0.0;
}
}
// ----- Draw signal
for(i=0; i<limit; i++)
SignalBuffer[i]=iMAOnArray(ExtBuffer0,Bars,Signal,0,MODE_SMA,i);
if(EnableSignalLineAlert)
{
if(ExtBuffer0[0]<SignalBuffer[0] && ExtBuffer0[1]>=SignalBuffer[1] && Bars>a)
{
Alert(Symbol()+" Period "+Period()+" AO CROSSED Signal (SELL)");
if (EMail_Signals) SendMail(Symbol()+": AO CROSSED Signal (SELL)",Symbol()+" Period "+Period()+" AO CROSSED Signal (SELL)");
a = Bars;
}
if(ExtBuffer0[0]>SignalBuffer[0] && ExtBuffer0[1]<=SignalBuffer[1] && Bars>b)
{
Alert(Symbol()+" Period "+Period()+" AO CROSSED Signal (BUY)");
if (EMail_Signals) SendMail(Symbol()+": AO CROSSED Signal (BUY)",Symbol()+" Period "+Period()+" AO CROSSED Signal (BUY)");
b = Bars;
}
}
if(EnableZeroLineCrossoverAlert)
{
if(ExtBuffer0[0]<0 && ExtBuffer0[1]>=0 && Bars>c)
{
Alert(Symbol()+" Period "+Period()+" AO CROSSED ZERO LINE (SELL)");
if (EMail_Signals) SendMail(Symbol()+": AO CROSSED Signal (SELL)",Symbol()+" Period "+Period()+" AO CROSSED Signal (SELL)");
c = Bars;
}
if(ExtBuffer0[0]>0 && ExtBuffer0[1]<=0 && Bars>d)
{
Alert(Symbol()+" Period "+Period()+" AO CROSSED ZERO LINE (BUY)");
if (EMail_Signals) SendMail(Symbol()+": AO CROSSED Signal (BUY)",Symbol()+" Period "+Period()+" AO CROSSED Signal (BUY)");
d = Bars;
}
}
//---- done
return(0);
}
//+------------------------------------------------------------------+
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