BB_MACD_funcs

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Author: Paladin 80
BB_MACD_funcs

This script is a custom technical analysis library designed for the MetaTrader platform. It provides two primary tools used to analyze market trends and volatility: an enhanced Bollinger Band calculator and a customizable MACD (Moving Average Convergence Divergence) calculator.

Enhanced Bollinger Bands Logic

Standard Bollinger Bands are often limited by fixed settings, but this script offers a more flexible way to calculate them. Here is how the logic flows:

  • Customizable Moving Averages: Instead of being restricted to a simple average, the script allows for various types of moving averages to serve as the "middle line" (the baseline) of the band.
  • Dynamic Deviation Calculation: The script calculates the distance between the current price and the middle line across a specific timeframe. It squares these differences, averages them, and then takes the square root to determine volatility.
  • Flexible Price Inputs: The logic can pull data from various price points, such as the opening price, closing price, high, low, or even a weighted average of these prices.
  • Dual-Line Output: Based on the user's selection, the script can return either the upper or lower band of the volatility range.

Custom MACD Logic

The MACD is a momentum indicator that shows the relationship between two different moving averages. This script provides a precise way to calculate these values:

  • Independent Moving Averages: The logic first calculates two separate moving averages based on "Fast" and "Slow" periods provided by the user.
  • Main Line Calculation: It subtracts the slow average from the fast average to create the MACD "Main Line," which helps identify the direction and strength of a trend.
  • Signal Line Generation: The script then takes that resulting MACD value and runs it through a third moving average calculation to create a "Signal Line."
  • Switchable Outputs: Users can choose whether they want the script to provide the raw MACD value (the Main Line) or the smoothed Signal Line.

Summary for Traders

Essentially, this script acts as a high-precision toolkit. Rather than relying on the "out-of-the-box" settings of your trading platform, it allows you to manually define exactly how prices are averaged and interpreted, providing more granular control over volatility measurements and momentum tracking.

Price Data Components
Series array that contains close prices for each barSeries array that contains the highest prices of each barSeries array that contains the lowest prices of each bar
Indicators Used
Moving average indicatorMoving average indicator
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BB_MACD_funcs 
//+------------------------------------------------------------------+
//|                                                BB_MACD_funcs.mq4 |
//|                                         Author:  Paladin80       |
//|                                         E-mail:  forevex@mail.ru |
//+------------------------------------------------------------------+
#property copyright "Paladin 80"
#property link      "forevex@mail.ru"
#property library
//--------------------------------------------- iBandsfunc() - start ---------------------------------------------------------
//+----------------------------------------------------------------------------+
//| Input parameters:                                                          |
//|   Sy - Symbol.                                                             |
//|   Tf - Timeframe.                                                          |
//|   BBper - Averaging period to calculate the main line.                     |
//|   BBdev - Deviation from the main line.                                    |
//|   BBshift - The indicator shift relative to the chart.                     |
//|   Applied_price - Applied price.                                           |
//|   Mode_ind - Indicator line index.                                         |
//|   MA_mode - Applied MA method.                                             |
//|   Shift - Index of the value taken from the indicator buffer.              |
//+----------------------------------------------------------------------------+
//|   In contrast to standard function iBands the function iBandsfunc          |
//}   calculates Bollinger Bands with deviation as a double value              |
//|   and with all moving averages, not only on SMA.                           |
//+----------------------------------------------------------------------------+
double iBandsfunc(string Sy,int Tf,int BBper,double BBdev,int BBshift,int Applied_price,int Mode_ind,int MA_mode,int Shift)
{  
   double ML, sum=0.0, a; int coef;
   if (Sy=="" || Sy=="0") Sy=Symbol();
   
   ML=iMA(Sy,Tf,BBper,BBshift,MA_mode,Applied_price,Shift);
   for (int i=Shift; i<=BBper-1+Shift; i++)
   {  switch(Applied_price)   
      {  case PRICE_CLOSE:    a=iClose(Sy,Tf,i+BBshift)-ML; break;
         case PRICE_OPEN:     a=iOpen (Sy,Tf,i+BBshift)-ML; break;
         case PRICE_HIGH:     a=iHigh (Sy,Tf,i+BBshift)-ML; break;
         case PRICE_LOW:      a=iLow  (Sy,Tf,i+BBshift)-ML; break;
         case PRICE_MEDIAN:   a=(iHigh(Sy,Tf,i+BBshift)+iLow(Sy,Tf,i+BBshift))/2.0-ML; break;
         case PRICE_TYPICAL:  a=(iHigh(Sy,Tf,i+BBshift)+iLow(Sy,Tf,i+BBshift)+iClose(Sy,Tf,i+BBshift))/3.0-ML; break;
         case PRICE_WEIGHTED: a=(iHigh(Sy,Tf,i+BBshift)+iLow(Sy,Tf,i+BBshift)+2*iClose(Sy,Tf,i+BBshift))/4.0-ML; break;
         default: a=0.0;
      }
      sum+=a*a;
   }
   double semi_res=BBdev*MathSqrt(sum/BBper);   
      switch (Mode_ind)
      {  case 1:  coef=1;   break;
         case 2:  coef=-1;  break;
         default: coef=0;
      }
   return (ML+coef*semi_res);
}
//--------------------------------------------- iBandsfunc() - end ----------------------------------------------------------

//--------------------------------------------- iMACDfunc() - start ---------------------------------------------------------
//+----------------------------------------------------------------------------+
//| Input parameters:                                                          |
//|   Sy - Symbol.                                                             |
//|   Tf - Timeframe.                                                          |
//|   Fast_period - Number of periods for fast moving average calculation.     |
//|   Slow_period - Number of periods for slow moving average calculation.     |
//|   MACD_MA_mode - MA method for MACD calculation.                           |
//|   Signal_period - Number of periods for signal moving average calculation. |
//|   Signal_MA_mode - MA method for signal line calculation.                  |
//|   Applied_price - Applied price.                                           |
//|   Mode_ind - Indicator line index.                                         |
//|   Shift - Index of the value taken from the indicator buffer.              |
//+----------------------------------------------------------------------------+---------------+
//|   Formulas for calculation of MACD (http://codebase.mql4.com/258)                          |
//|   MACD = MACD_MA_mode(Applied_price, Fast_period)-MACD_MA_mode(Applied_price, Slow_period) |
//|   SIGNAL = Signal_MA_mode(MACD, Signal_period)                                             |
//+--------------------------------------------------------------------------------------------+
double iMACDfunc(string Sy,int Tf,int Fast_period,int Slow_period,int MACD_MA_mode,
                 int Signal_period,int Signal_MA_mode,int Applied_price,int Mode_ind,int Shift)
{
   double MacdBuffer[], Signal, result;
   if (Sy=="" || Sy=="0") Sy=Symbol();
   
   int limit=MathMax(MathMax(Fast_period,Slow_period),Signal_period)-1+Shift;      
   ArrayResize(MacdBuffer,limit);
      for (int i=0; i<=limit; i++)
      {
      MacdBuffer[i]=iMA(Sy,Tf,Fast_period,0,MACD_MA_mode,Applied_price,i)-iMA(Sy,Tf,Slow_period,0,MACD_MA_mode,Applied_price,i);
      }
   ArraySetAsSeries(MacdBuffer,true);
   Signal=iMAOnArray(MacdBuffer,0,Signal_period,0,Signal_MA_mode,Shift);
      switch(Mode_ind)
      {  case MODE_MAIN:   result=MacdBuffer[Shift]; break;
         case MODE_SIGNAL: result=Signal;            break;
      }
   return(result);
}
//--------------------------------------------- iMACDfunc() - end ----------------------------------------------------------

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