BtTrendTrigger-T-S

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Author: Paul Y. Shimada
BtTrendTrigger-T-S

This script is designed as a technical analysis tool to help traders identify momentum and trend shifts in financial markets. It functions by measuring the "strength" of buying versus selling pressure over specific periods and translating that data into a visual format on a trading chart.

Core Logic and Calculation

The indicator operates by comparing historical price highs and lows to determine market sentiment. Here is the step-by-step breakdown of its logic:

1. Momentum Measurement The tool looks at two distinct windows of time. It identifies the highest high and lowest low in a "recent" period and compares them against the highs and lows of an "older" period. By calculating the difference between these points, the script determines the Buy Power (upward momentum) and Sell Power (downward momentum).

2. Trend Factor Calculation Once the Buy and Sell powers are established, the script calculates a percentage-based "Trend Factor." This value tells you which side of the market is currently dominant. A positive value suggests bullish momentum, while a negative value suggests bearish momentum.

3. Smoothing and Filtering Raw market data can be erratic and "noisy," which can lead to false signals. To prevent this, the script applies several layers of mathematical smoothing. It uses a weighted calculation (similar to moving averages) to refine the Trend Factor multiple times. This ensures that the final output represents a sustained trend rather than a momentary price spike.

Visual Signals and Alerts

The primary purpose of this script is to provide clear visual cues on the chart to assist with decision-making:

  • Trend Mapping: The indicator plots lines that reflect the smoothed Trend Factor, helping you see the overall direction of the market at a glance.
  • Trigger Arrows: The script identifies specific "crossover" moments where the momentum shifts significantly. When these conditions are met, it automatically places arrows on the chart:
    • Gold Arrows: These typically appear when the momentum crosses specific thresholds or switches polarity (moving from positive to negative or vice versa), marking a potential change in trend.
    • Lime Arrows: These appear under specific conditions where the Trend Factor moves aggressively past defined limits, signaling a stronger confirmation of a move in a specific direction.

Summary for the User

In simple terms, this tool acts as a momentum radar. It filters out the "noise" of minor price fluctuations to show you the underlying strength of the market. It identifies when buying pressure is overwhelming selling pressure (and vice versa) and highlights those transition points with visual markers, allowing you to see potential trend reversals or confirmations more clearly.

Miscellaneous
Implements a curve of type %1It issuies visual alerts to the screen
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BtTrendTrigger-T-S 
//+------------------------------------------------------------------------+
//| MQL to MQ4 by Maloma                              BtTrendTrigger-T.mq4 |
//| Modified version of Trend Trigger Factor by Tartan                     |
//| Technical Analysis of Stocks and Commodities, Dec. 2004,p.28. M.H. Pee |
//+------------------------------------------------------------------------+
#property copyright "Paul Y. Shimada"
#property  link     "PaulYShimada@Y..."

#property indicator_separate_window
#property indicator_buffers 2
#property indicator_color1 Gold
#property indicator_color2 Red
#include <stdlib.mqh>
#include <stderror.mqh>

//---- indicator parameters
extern int    TTFbars=15; //15=default number of bars for computation.
extern int    t3_period=5;
extern double b=0.7;
extern int    ppor=50;
extern int    mpor=-50;
extern int    barBegin=1000; //<1000 recommended for faster speed, 0=All bars computed & plotted.
//---- indicator buffers
double Buffer1[];
double Buffer2[];

// Variable Specific:
string IndicatorName="py.TTF";
string Version="S01(MQL4 by maloma)";
double HighestHighRecent=0, HighestHighOlder=0, LowestLowRecent=0, LowestLowOlder=0;
double BuyPower=0, SellPower=0, TTF=0, ks = 0, kb = 0, kss = 0, ksb = 0;
double t3=0, e1=0, e2=0, e3=0, e4=0, e5=0, e6=0, c1=0, c2=0, c3=0, c4=0, r=0, w1=0, w2=0, b2=0, b3=0;
double ATTF[];
int    m = 0;
// Variable Generic, mostly for module flow control:
int    shift=0, count=0;
bool   is_First=True;
int    loopBegin=0, prevBars=0, PrevTime=0, tick=0, prevShift=99999, firstPlotBar=0, badPlotBars=0; //Discarded first (old) bars with bad computed values
double CheckSum=0, CheckSumPrev=0;
string Msg="";

int init()
  {
//---- indicator buffers mapping  
    SetIndexBuffer(0,Buffer1);
    SetIndexBuffer(1,Buffer2);   
//---- drawing settings
    SetIndexStyle(0,DRAW_LINE,EMPTY,2);
    SetIndexArrow(0,217);
    SetIndexStyle(1,DRAW_LINE,EMPTY,2);
    SetIndexArrow(1,218);
//----
    SetIndexEmptyValue(0,0.0);
    SetIndexEmptyValue(1,0.0);
//---- name for DataWindow
    SetIndexLabel(0,"BTT1");
    SetIndexLabel(1,"BTT2");
//---- initialization done   
    IndicatorShortName("BtTrendTrigger");
    
    ArrayResize(ATTF,barBegin);
   return(0);
  }

void SetArrow(datetime ArrowTime, double Price, double ArrowCode, color ArrowColor)
{
 int err;
 string ArrowName = DoubleToStr(ArrowTime,0);
   if (ObjectFind(ArrowName) != -1) ObjectDelete(ArrowName);
   if(!ObjectCreate(ArrowName, OBJ_ARROW, 0, ArrowTime, Price))
    {
      err=GetLastError();
      Print("error: can't create Arrow! code #",err," ",ErrorDescription(err));
      return;
    }
   else
   {
     ObjectSet(ArrowName, OBJPROP_ARROWCODE, ArrowCode);
     ObjectSet(ArrowName, OBJPROP_COLOR , ArrowColor);
     ObjectsRedraw();
   }
}

int start()
{
 b2 = b * b;
 b3 = b2 * b;
 c1 = (-b3);
 c2 = (3 * (b2 + b3));
 c3 = (-3) * (2 * b2 + b + b3);
 c4 = (1 + 3 * b + b3 + 3 * b2);
 
 r = t3_period;
 
 if (r < 1) r = 1;
 r = 1 + 0.5 * (r - 1);
 w1 = 2 / (r + 1);
 w2 = 1 - w1;

 /*======================*/
 /* Begin Pre-Loop Setup */
 /*======================*/
 //Check for additional bars loading or total reloadng.
 if (Bars < prevBars || Bars - prevBars > 1) is_First = True;
 prevBars = Bars;

 //Have any Inputs changed?
 CheckSum = TTF + barBegin;   
 
 if (CheckSum != CheckSumPrev) is_First = True;
 CheckSumPrev = CheckSum;
 //--------------------------------------------------------------------

 if (is_First)
  {/*This block executes ONLY First Time for each Attachment-To-Chart. If MT is closed or another Profile is selected, 
   the values & parameters for this module are saved, and when MT or this Profile is restarted, it would not be the First  
   Time Attachment-To-Chart. So this block would not execute unless the value of "Bars" has changed. */
   int SetLoopCount=0;
   
   /*==============*/
   /* Check Inputs */
   /*==============*/
   if (0 > TTFbars || TTFbars > 299)
    { 
     Msg = IndicatorName + " **Input Error** :" + " TTFbars must be between 0 and 300. Cannot=" + TTFbars;
     Alert(Msg);
     return(0);
    }
    
   //BarIndexNumber=shift=Bars-1..0
   if (barBegin > 0 && barBegin < Bars - 1) {loopBegin = barBegin;} else {loopBegin = Bars - 1;} 
   
   /*===================================*/
   /* Specific for particular indicator */
   /*===================================*/
   loopBegin = loopBegin - TTFbars; //Cannot compute early bars
  	/* end Specific */
   
   is_First = False;
  }	
   
 /*======================*/
 /* end Pre-Loop Setup   */
 /*======================*/
 loopBegin = loopBegin + 1; //Replot previous bar
 for (shift = loopBegin; shift>=0; shift--)
  {
   /*=================================*/
   /* Standard Specific Computations */
   /*=================================*/
/*   HighestHighRecent = High[Highest(Symbol(),0,MODE_HIGH,TTFbars,shift)]; 
   HighestHighOlder = High[Highest(Symbol(),0,MODE_HIGH,TTFbars,shift + TTFbars)];
   LowestLowRecent = Low [Lowest(Symbol(),0,MODE_LOW,TTFbars,shift)];
   LowestLowOlder = Low [Lowest(Symbol(),0,MODE_LOW,TTFbars,shift+TTFbars)];*/
   HighestHighRecent = High[Highest(Symbol(),0,MODE_HIGH,TTFbars,shift-TTFbars+1)]; 
   HighestHighOlder = High[Highest(Symbol(),0,MODE_HIGH,TTFbars,shift+1)];
   LowestLowRecent = Low [Lowest(Symbol(),0,MODE_LOW,TTFbars,shift-TTFbars+1)];
   LowestLowOlder = Low [Lowest(Symbol(),0,MODE_LOW,TTFbars,shift+1)];
   BuyPower = HighestHighRecent - LowestLowOlder;
   SellPower = HighestHighOlder - LowestLowRecent;
   TTF = (BuyPower - SellPower) / (0.5 * (BuyPower + SellPower)) * 100;
   e1 = w1 * TTF + w2 * e1;
   e2 = w1 * e1 + w2 * e2;
   e3 = w1 * e2 + w2 * e3;
   e4 = w1 * e3 + w2 * e4;
   e5 = w1 * e4 + w2 * e5;
   e6 = w1 * e5 + w2 * e6;
   
   TTF = c1 * e6 + c2 * e5 + c3 * e4 + c4 * e3;
   Buffer1[shift]=TTF;
   
 	ATTF[m]=TTF;
   if( (ATTF[m-1]<ATTF[m] && ATTF[m]<ppor && ATTF[m-1]>0) ) kb=0; 
   if( (ATTF[m-1]>ATTF[m] && ATTF[m]>mpor && ATTF[m-1]<0) ) ks=0;
   if( (ATTF[m-1]<0 && ATTF[m]>0) ) ksb=0;
   if( (ATTF[m-1]>0 && ATTF[m]<0) ) kss=0;

   if( ATTF[m-1]<mpor && ATTF[m]>mpor && kb == 0 ) { kb=1;SetArrow(Time[shift],Low[shift]-6*Point,241,Gold);} 
	if( ((ATTF[m-1]>ppor && ATTF[m]<ppor) || (ATTF[m-1]>0 && ATTF[m]<0)) && ksb == 0 ) { 
	     ksb=1;SetArrow(Time[shift],High[shift],159,Gold);} 
	if( ATTF[m-1]>ppor && ATTF[m]<ppor && ks == 0 ) { ks=1;SetArrow(Time[shift],High[shift]+6*Point,242,Lime);} 
	if( ((ATTF[m-1]<mpor && ATTF[m]>mpor) || (ATTF[m-1]<0 && ATTF[m]>0)) && kss == 0 ) { 
	     kss=1;SetArrow(Time[shift],Low[shift],159,Lime);} 
   
   //Dual value trigger +/-100
   if (TTF >= 0) {Buffer2[shift]=ppor;} else {Buffer2[shift]=mpor;}
  }
  
 return(0);
}

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