This MetaTrader 4 (MT4) script appears to be an expert advisor (EA), which is used for trading strategies. The EA seems to analyze market conditions using custom indicators and provides buy/sell signals based on specific criteria.
Here's a breakdown of what the key components in this code do:
-
Initialization and Setup:
#propertydirectives are used to define properties like indicator buffers, version information, etc.- The script defines input parameters such as
showDirection, which is a boolean that determines whether trade direction signals should be shown.
-
Indicators and Buffers:
- Several buffers (
clouds1,clouds2,silverlining1,silverlining2,darkclouds1,darkclouds2) are initialized to store computed values for visual representation on the chart. - The script uses moving averages, ATR (Average True Range), and Bollinger Bands to compute these values.
- Several buffers (
-
Main Loop (
start()function):- This loop iterates over historical data points starting from
Barsdown to0. - For each bar, it calculates various indicators like clouds, silver linings, etc., based on ATR and Bollinger Bands.
- The script checks for specific conditions using the
getSignal()function to determine if a "stormy" signal is present.
- This loop iterates over historical data points starting from
-
Custom Signal Logic (
getSignal()):- This function calculates thresholds using moving averages and Bollinger Bands.
- It returns
truewhen certain conditions are met, indicating a potential trading opportunity based on the custom indicator logic.
-
Displaying Signals (
showDirection()):- If
showDirectionis enabled, it shows arrows or lines to indicate buy/sell signals based on moving averages and price movements. - It uses trend detection (comparing two different EMA periods) to decide which direction to display.
- If
-
Utility Functions:
clearBuffers(int i)sets indicator buffer values toNULLfor a given bar, effectively clearing them.findAvg(int period, int shift)calculates the average true range over a specified period and shifts it by a factor (keltFactor).
-
Comments and Logging:
- The script uses the
Comment()function to display on-screen messages with trading conditions like support/resistance levels and take profit/stop loss values.
- The script uses the
Overall, this EA seems designed to provide visual cues for trading opportunities based on custom indicators involving ATR and Bollinger Bands, alongside trend analysis. It's important to test such scripts in a demo environment before using them live, as the logic is highly customized and may not perform well under all market conditions.
Indicators Used
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Akuma99 Storm Clouds
/*
*********************************************************************
Akuma99 Stormy Weather
Copyright © 2005 Akuma99
http://akuma99.blogspot.com
For help on this indicator, tutorials and information
visit http://akuma99.blogspot.com/
*********************************************************************
*/
#property link "http://akuma99.blogspot.com/"
#property copyright "© 2005 Akuma99 (http://akuma99.blogspot.com)"
#property indicator_chart_window
#property indicator_buffers 8
#property indicator_color1 Lavender
#property indicator_color2 Lavender
#property indicator_color3 Gainsboro
#property indicator_color4 Gainsboro
#property indicator_color5 Crimson
#property indicator_color6 Green
#property indicator_color7 Navy
#property indicator_color8 Navy
extern int maxBars = 2000;
extern int spread=4;
int humidity=2;
extern bool showDirection=false;
double bb=12.0;
double bbDeviation=2.0;
double kelt=8.0;
double keltFactor=1.0;
double buffer=1.0;
double upperBarrier[];
double lowerBarrier[];
double clouds1[];
double clouds2[];
double silverlining1[];
double silverlining2[];
double downIndicator[];
double upIndicator[];
double darkclouds1[];
double darkclouds2[];
int history[];
int tracking;
double val1[];
double val2[];
int holder=0;
int trueRangePeriod = 9;
int count=0;
int init() {
ArrayResize(history,maxBars);
ArrayInitialize(history,3);
IndicatorBuffers(8);
SetIndexStyle(0,DRAW_HISTOGRAM, 2, 1, indicator_color1);
SetIndexBuffer(0, clouds1);
SetIndexLabel(0,"Storm clouds");
SetIndexStyle(1,DRAW_HISTOGRAM, 2, 1, indicator_color2);
SetIndexBuffer(1, clouds2);
SetIndexLabel(1,"Storm clouds");
SetIndexStyle(2,DRAW_LINE,0,1,indicator_color3);
SetIndexBuffer(2, silverlining1);
SetIndexLabel(2,"resistance");
SetIndexStyle(3,DRAW_LINE,0,1,indicator_color4);
SetIndexBuffer(3, silverlining2);
SetIndexLabel(3,"support");
SetIndexStyle(4, DRAW_ARROW,indicator_color5);
SetIndexBuffer(4, downIndicator);
SetIndexArrow(4, 234);
SetIndexStyle(5, DRAW_ARROW,indicator_color6);
SetIndexBuffer(5, upIndicator);
SetIndexArrow(5, 233);
SetIndexStyle(6,DRAW_HISTOGRAM, 2, 1, indicator_color7);
SetIndexBuffer(6, darkclouds1);
SetIndexLabel(6,"Storm clouds");
SetIndexStyle(7,DRAW_HISTOGRAM, 2, 1, indicator_color8);
SetIndexBuffer(7, darkclouds2);
SetIndexLabel(7,"Storm clouds");
return(0);
}
int deinit() {
double upperBarrier[];
double lowerBarrier[];
double clouds1[];
double clouds2[];
double silverlining1[];
double silverlining2[];
double downIndicator[];
double upIndicator[];
double darkclouds1[];
double darkclouds2[];
}
int start() {
int i;
double sl;
ArrayResize(upperBarrier,maxBars);
ArrayResize(lowerBarrier,maxBars);
ArrayResize(val1,maxBars);
ArrayResize(val2,maxBars);
int indicatorLength = maxBars;
for (i=indicatorLength; i>=0; i--) {
double trueRange = iATR(NULL, 0, trueRangePeriod, i);
bool squeezeSignal = getSignal(i+1);
double c1=0, c2=0;
if (iFractals(NULL, 0, MODE_UPPER, i) != 0) {
val1[i] = iFractals(NULL, 0, MODE_UPPER, i);
} else {
val1[i] = val1[i+1];
}
if (iFractals(NULL, 0, MODE_LOWER, i) != 0) {
val2[i] = iFractals(NULL, 0, MODE_LOWER, i);
} else {
val2[i] = val2[i+1];
}
if (squeezeSignal) {
count++;
//if (breakOut == true) showBreakoutDirection(i);
if (holder == 0 || i > holder-1) {
upperBarrier[i]=High[i+1]+trueRange;
lowerBarrier[i]=Low[i+1]-trueRange;
holder = i;
} else {
upperBarrier[i]=upperBarrier[holder];
lowerBarrier[i]=lowerBarrier[holder];
}
} else {
upperBarrier[i] = upperBarrier[i+1];
lowerBarrier[i] = lowerBarrier[i+1];
holder = 0;
count = 0;
}
sl = iATR(NULL,0,4,i);
clearBuffers(i);
clouds1[i] = upperBarrier[i]+sl+spread*Point;
clouds2[i] = lowerBarrier[i]-sl;
silverlining1[i] = upperBarrier[i]+sl+spread*Point;
silverlining2[i] = lowerBarrier[i]-sl;
if (holder != 0) {
clouds1[i] = upperBarrier[i]+sl+spread*Point;
clouds2[i] = lowerBarrier[i]-sl;
}
if (showDirection==true) showDirection(i);
double tpLong = val1[i]-5*Point;
double tpShort = val2[i]+5*Point;
double slLong = val2[i]-5*Point;
double slShort = val1[i]+5*Point;
Comment ("Stormy Indicator created by Akuma99 (http://akuma99.blogspot.com)\n\nWEATHER REPORT: \nCloud support: ", clouds2[i], " | Cloud resistance: ", silverlining1[i], " | Cloud Thickness: ", MathFloor((silverlining1[i] - silverlining2[i])/Point),"\nLong SL: ",slLong," | Long TP: ",tpLong,"\nShort SL: ",slShort," | Short TP: ", tpShort);
}
return(0);
}
void clearBuffers(int i) {
darkclouds1[i] = NULL;
darkclouds2[i] = NULL;
upIndicator[i] = NULL;
downIndicator[i] = NULL;
clouds1[i] = NULL;
clouds2[i] = NULL;
silverlining1[i] = NULL;
silverlining2[i] = NULL;
}
bool getSignal(int shift) {
double basePrice, avg, upperKelt, lowerBB, upperBB, lowerKelt;
basePrice = iMA(NULL, 0, kelt, 0, MODE_SMA, PRICE_TYPICAL, shift);
avg = findAvg(kelt, shift);
lowerKelt = (basePrice-avg)-(buffer*Point);
upperKelt = (basePrice+avg)+(buffer*Point);
lowerBB = iBands(NULL,0,bb,bbDeviation,0,PRICE_CLOSE,MODE_LOWER,shift);
upperBB = iBands(NULL,0,bb,bbDeviation,0,PRICE_CLOSE,MODE_UPPER,shift);
if (lowerBB >= lowerKelt && upperBB <= upperKelt) {
return (true);
} else {
return (false);
}
}
double findAvg(int period, int shift) {
double sum=0;
int x;
for (x=shift;x<(shift+period);x++) {
sum += High[x]-Low[x];
}
sum = sum/period;
return (sum*keltFactor);
}
void showDirection(int i) {
double previousMidPoint, previousBody;
if (holder == 0) {
bool upTrend, downTrend;
double ma1 = iMA(NULL,0,200,0,MODE_EMA,PRICE_CLOSE,i);
double ma2 = iMA(NULL,0,200,0,MODE_EMA,PRICE_CLOSE,i+1);
if (ma1 > ma2) {
upTrend = true;
downTrend = false;
} else if (ma2 > ma1) {
upTrend = false;
downTrend = true;
}
double range = iATR(NULL,0,4,i);
if (High[i] >= clouds1[i] && Close[i] < clouds1[i] && downTrend == true) {
upIndicator[i] = NULL;
downIndicator[i] = High[i] + 20*Point;
} else if (Low[i] <= clouds2[i] && Close[i] > clouds2[i] && upTrend == true) {
downIndicator[i] = NULL;
upIndicator[i] = Low[i] - 20*Point;
}
if (Open[i] > clouds1[i] && Close[i] < clouds1[i] && Close[i]-Open[i] > range) {
upIndicator[i] = NULL;
downIndicator[i] = High[i] + 20*Point;
} else if (Open[i] < clouds2[i] && Close[i] > clouds2[i] && Open[i]-Close[i] > range) {
downIndicator[i] = NULL;
upIndicator[i] = Low[i] - 20*Point;
}
}
}
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