EldersSafeZone_v2

/*-----------------------------+
|			       |
| Shared by www.Aptrafx.com    |
|			       |
+------------------------------*/

//+------------------------------------------------------------------+
//|                                             Elders Safe Zone.mq4 |
//|                                                        Cubesteak |
//|                                                www.cubesteak.net |
//+------------------------------------------------------------------+
#property copyright "Cubesteak"
#property link      "www.cubesteak.net"

#property  indicator_buffers 1
#property indicator_color1 Aquamarine

#property indicator_chart_window

extern int LookBack = 10;
extern int StopFactor = 3;
extern int EMALength = 13;
extern color LineColor = Aquamarine;

double ExtBuffer[]; 

//+------------------------------------------------------------------+
//| Custom indicator initialization function                         |
//+------------------------------------------------------------------+
int init()
  {
//---- indicators
   
   SetIndexBuffer(0,ExtBuffer);
   SetIndexStyle(0,DRAW_LINE,2,1,LineColor);

//----
   return(0);
  }
//+------------------------------------------------------------------+
//| Custom indicator deinitialization function                       |
//+------------------------------------------------------------------+
int deinit()
  {
//----
   
//----
   return(0);
  }
//+------------------------------------------------------------------+
//| Custom indicator iteration function                              |
//+------------------------------------------------------------------+
int start()
  {
   double SafeStop=0;
   int    counted_bars=IndicatorCounted();
   int limit = Bars - LookBack - 3;
   
   for (int shift = limit;shift>=0;shift--)
   {
   
      double EMA0 = iMA(Symbol(),0,EMALength,0,MODE_EMA,0,shift);
      double EMA1 = iMA(Symbol(),0,EMALength,0,MODE_EMA,0,shift+1);
      double EMA2 = iMA(Symbol(),0,EMALength,0,MODE_EMA,0,shift+2);
      double PreSafeStop = ExtBuffer[shift+1];
      double Pen = 0;
      int Counter = 0;
   
      if (EMA0 > EMA1)
      {
         for (int value1 = 0;value1<=LookBack; value1++)
         {
            if (Low[shift+value1] < Low[shift+value1+1])
            {
               Pen = Low[shift+value1+1] - Low[shift+value1] + Pen;
               Counter = Counter + 1; 
            }
         }
         if (Counter != 0) SafeStop = Close[shift] - (StopFactor * (Pen/Counter));
         else SafeStop = Close[shift] - (StopFactor * Pen);
         if ((SafeStop < PreSafeStop) && (EMA1 > EMA2)) SafeStop = PreSafeStop;
      }

      if (EMA0 < EMA1)
      {
         for (value1 = 0;value1<=LookBack; value1++)
         {
            if (High[shift+value1] > High[shift+value1+1])
            {
               Pen = High[shift+value1] - High[shift+value1+1] + Pen;
               Counter = Counter + 1;
            }
         }
         if (Counter != 0) SafeStop = Close[shift] + (StopFactor * (Pen/Counter));
	      else SafeStop = Close[shift] + (StopFactor * Pen);
	      if ((SafeStop > PreSafeStop) && (EMA1 < EMA2)) SafeStop = PreSafeStop;
      }
      PreSafeStop = SafeStop;
   	ExtBuffer[shift] = SafeStop;
   }
//----
   
//----
   return(0);
  }
//+------------------------------------------------------------------+