AFStar
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This script is a technical analysis tool designed to identify potential trading opportunities by analyzing price movements, trend momentum, and volatility. It functions by scanning historical price data to find specific "confluence" points—moments where different mathematical conditions align to suggest a high-probability entry signal.
The logic operates through three primary layers of filtering:
1. Trend Intersection Analysis
The tool first examines the relationship between multiple moving averages. It doesn't just look at one indicator; it performs a comprehensive scan across a range of fast and slow speeds simultaneously. It looks for "crossovers," which occur when a short-term average moves across a long-term average.
- Buy Signal: Identified when a faster trend crosses upward over a slower trend.
- Sell Signal: Identified when a faster trend crosses downward under a slower trend.
2. Volatility and Momentum Filtering
To ensure the signals aren't just "noise" in a flat market, the script applies a secondary layer of scrutiny based on price range and momentum:
- Range Calculation: It measures the average size of recent candles to establish a baseline for current market volatility.
- Price Gap Detection: It looks for specific significant gaps or sudden movements relative to that average range.
- Williams %R Integration: The script utilizes a momentum oscillator (Williams %R) to determine if the price is currently overextended. It adjusts its internal calculation based on the "Risk" parameters provided by the user to decide which percentage threshold to prioritize.
3. Confirmation and Execution Logic
The final stage of the logic acts as a safety filter. A signal is only generated on the chart if both the Trend Intersection (Layer 1) and the Volatility/Momentum conditions (Layer 2) occur in close proximity to one another.
Specifically, the script looks for:
- A trend crossover happening at the same time as a momentum confirmation.
- Or, a trend crossover happening immediately adjacent to a momentum confirmation (within one bar of each other).
If both conditions are met simultaneously for the same direction (e.g., both suggesting a "Buy"), the script places a visual marker on the chart. If the data suggests conflicting directions—such as a buy signal and a sell signal appearing at once—the script intelligently ignores both to prevent contradictory trades.
Indicators Used
Miscellaneous
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AFStar
//+------------------------------------------------------------------+
//| AFStar.mq4 |
//| Copyright © 2005, Forex-Experts |
//| http://www.forex-experts.com |
//+------------------------------------------------------------------+
#property copyright "Copyright © 2005, Forex-Experts"
#property link "http://www.forex-experts.com"
#property indicator_chart_window
#property indicator_buffers 2
#property indicator_color1 Magenta
#property indicator_color2 Aqua
//---- input parameters
extern double StartFast=3;
extern double EndFast=3.5;
extern double StartSlow=8;
extern double EndSlow=9;
extern double StepPeriod=0.2;
extern double StartRisk=1;
extern double EndRisk=2.8;
extern double StepRisk=0.5;
extern int AllBars=500;
int shift=0,RiskCnt=0, EndScan1=0, EndScan2=0;
double iMaSlowPrevious=0, iMaSlowCurrent=0, iMaFastPrevious=0, iMaFastCurrent=0;
double FastCnt=0, SlowCnt=0;
double Buy1[1000], Sell1[1000];
double Buy2[1000], Sell2[1000];
double Buy=0, Sell=0;
//---- buffers
double val1[];
double val2[];
//+------------------------------------------------------------------+
//| Custom indicator initialization function |
//+------------------------------------------------------------------+
int init()
{
//---- indicator line
IndicatorBuffers(2);
SetIndexStyle(0,DRAW_ARROW);
SetIndexArrow(0,226);
SetIndexStyle(1,DRAW_ARROW);
SetIndexArrow(1,225);
SetIndexBuffer(0,val1);
SetIndexBuffer(1,val2);
//----
return(0);
}
//+------------------------------------------------------------------+
//| Custor indicator deinitialization function |
//+------------------------------------------------------------------+
int deinit()
{
//---- TODO: add your code here
//----
return(0);
}
//+------------------------------------------------------------------+
//| Custom indicator iteration function |
//+------------------------------------------------------------------+
int start()
{
if (AllBars>=1000) AllBars=1000;
SetIndexDrawBegin(0,Bars-AllBars+11+1);
SetIndexDrawBegin(1,Bars-AllBars+11+1);
int i,shift,counted_bars=IndicatorCounted();
int Counter,i1,value10,value11;
double value1,x1,x2;
double value2,value3;
double TrueCount,Range,AvgRange,MRO1,MRO2;
double Table_value2[1000];
//----
if(Bars<=11+1) return(0);
//---- initial zero
if(counted_bars<11+1)
{
for(i=1;i<=0;i++) val1[AllBars-i]=0.0;
for(i=1;i<=0;i++) val2[AllBars-i]=0.0;
}
//---- TODO: add your code here
//for (shift=(AllBars-11-1); shift<=0; shift--)
//{
shift=AllBars-11-1;
while(shift>=0)
{
Sell1[shift]=0;
Buy1[shift]=0;
EndScan1=0;
SlowCnt=StartSlow;
while (SlowCnt<=EndSlow)
{
if (EndScan1==1) break;
FastCnt=StartFast;
while (FastCnt<=EndFast)
{
if (EndScan1==1) break;
//Scan Parameters
iMaSlowPrevious = iMA(NULL,0,SlowCnt,0,MODE_EMA, PRICE_CLOSE, shift-1);
iMaSlowCurrent = iMA(NULL,0,SlowCnt,0,MODE_EMA, PRICE_CLOSE, shift);
iMaFastPrevious = iMA(NULL,0,FastCnt,0, MODE_EMA, PRICE_CLOSE, shift-1);
iMaFastCurrent = iMA(NULL,0,FastCnt,0, MODE_EMA, PRICE_CLOSE, shift);
if (iMaFastPrevious<iMaSlowPrevious && iMaFastCurrent>iMaSlowCurrent) { EndScan1=1; Sell1[shift]=1;}
if (iMaFastPrevious>iMaSlowPrevious && iMaFastCurrent<iMaSlowCurrent) { EndScan1=1; Buy1[shift]=1;}
FastCnt=FastCnt+StepPeriod;
}
SlowCnt=SlowCnt+StepPeriod;
}
EndScan2=0;
Sell2[shift]=0;
Buy2[shift]=0;
RiskCnt=StartRisk;
// while (RiskCnt<=EndRisk)
if (RiskCnt<=EndRisk)
{
if (EndScan2!=1) {
value10=3+RiskCnt*2;
x1=67+RiskCnt;
x2=33-RiskCnt;
value11=value10;
//----
// shift=AllBars-11-1;
// while(shift>=0)
// {
Counter=shift;
Range=0.0;
AvgRange=0.0;
for (Counter=shift; Counter<=shift+9; Counter++) AvgRange=AvgRange+MathAbs(High[Counter]-Low[Counter]);
Range=AvgRange/10;
Counter=shift;
TrueCount=0;
while (Counter<shift+9 && TrueCount<1)
{if (MathAbs(Open[Counter]-Close[Counter+1])>=Range*2.0) TrueCount=TrueCount+1;
Counter=Counter+1;
}
if (TrueCount>=1) {MRO1=Counter;} else {MRO1=-1;}
Counter=shift;
TrueCount=0;
while (Counter<shift+6 && TrueCount<1)
{if (MathAbs(Close[Counter+3]-Close[Counter])>=Range*4.6) TrueCount=TrueCount+1;
Counter=Counter+1;
}
if (TrueCount>=1) {MRO2=Counter;} else {MRO2=-1;}
if (MRO1>-1) {value11=3;} else {value11=value10;}
if (MRO2>-1) {value11=4;} else {value11=value10;}
value2=100-MathAbs(iWPR(NULL,0,value11,shift)); // PercentR(value11=9)
Table_value2[shift]=value2;
val1[shift]=0;
val2[shift]=0;
value3=0;
if (value2<x2)
{i1=1;
while (Table_value2[shift+i1]>=x2 && Table_value2[shift+i1]<=x1){i1++;}
if (Table_value2[shift+i1]>x1)
{
value3=High[shift]+Range*0.5;
Sell2[shift]=value3;
// val1[shift]=value3;
}
}
if (value2>x1)
{i1=1;
while (Table_value2[shift+i1]>=x2 && Table_value2[shift+i1]<=x1){i1++;}
if (Table_value2[shift+i1]<x2)
{
value3=Low[shift]-Range*0.5;
Buy2[shift]=value3;
// val2[shift]=value3;
}
}
}
if (Buy2[shift]>0 || Sell2[shift]>0) {EndScan2=1;}
RiskCnt=RiskCnt+StepRisk;
}
//Main decision module
Buy=0; Sell=0;
if ((Buy1[shift]>0 && Buy2[shift]>0) || (Buy1[shift]>0 && Buy2[shift+1]>0) || (Buy1[shift+1]>0 && Buy2[shift]>0)) Buy=Low[shift]-1*Point;
if ((Sell1[shift]>0 && Sell2[shift]>0) || (Sell1[shift]>0 && Sell2[shift+1]>0) || (Sell1[shift+1]>0 && Sell2[shift]>0)) Sell=High[shift]+1*Point;
//Ignore if we have two signals
if (Buy!=0 && Sell!=0)
{
Buy=0; Sell=0;
}
val1[shift]=Sell;
val2[shift]=Buy;
shift--;
}
//----
return(0);
}
//+------------------------------------------------------------------+
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