Execute Line
Download script
This tool is designed to help traders visualize market momentum by identifying and highlighting specific trends on a price chart. Rather than simply showing a standard moving average, this script uses a multi-layered mathematical approach to filter out "noise" and clearly distinguish between upward and downward movements.
How the Logic Works
1. Smoothing the Data (The Foundation) The script begins by taking the raw market data and processing it through a weighted average. By using a weighted method, it ensures that recent price actions carry more significance than older data, allowing the indicator to react promptly to new information while remaining stable enough to avoid erratic jumps.
2. Calculating Momentum (The Vector) Instead of looking at price in isolation, the logic calculates a "vector." It compares two different average periods—specifically, it takes twice the value of a shorter-term average and subtracts a longer-term average from it. This calculation helps reveal the velocity and direction of the market's current movement.
3. Trend Mapping (The Smoothing Layer) To make the information even cleaner for the trader, the script applies a secondary mathematical operation on that momentum vector. By taking the square root of the user-defined period, it creates a refined "Map." This acts as a stabilizer, smoothing out minor fluctuations so that only significant, sustained shifts in price direction are captured.
4. Dynamic Trend Detection (Visual Output) Finally, the script analyzes this refined map to determine the current trend direction:
- Uptrend Identification: If the mapped values are rising, the script identifies an upward trend and plots a yellow line on your chart.
- Downtrend Identification: If the mapped values are falling, it identifies a downward trend and plots a magenta line.
Key Visual Features
- Trend Switching: The logic is designed to detect "cross-overs." When the market shifts from up to down (or vice versa), the script marks the transition point by highlighting the last known value of the previous trend before switching colors.
- Clean Visualization: By using specific buffers for "Up" and "Down" trends, the tool ensures that your chart isn't cluttered with overlapping lines. It only displays the active trend line, providing a clear, uncluttered view of whether the current market sentiment is bullish or bearish.
//+------------------------------------------------------------------+
//| HMA.mq4
//| Copyright © 2006 WizardSerg <wizardserg@mail.ru>, ?? ??????? ForexMagazine #104
//| wizardserg@mail.ru
//| Revised by IgorAD,igorad2003@yahoo.co.uk |
//|
//| Personalized by iGoR AKA FXiGoR for the Trend Slope Trading method (T_S_T)
//| Link:
//| contact: thefuturemaster@hotmail.com
//+------------------------------------------------------------------+
#property copyright "MT4 release WizardSerg <wizardserg@mail.ru>, ?? ??????? ForexMagazine #104"
#property link "wizardserg@mail.ru"
#property indicator_chart_window
#property indicator_buffers 2
#property indicator_color1 Yellow
#property indicator_color2 Magenta
//---- input parameters
extern int period=5;
extern int method=3; // MODE_SMA
extern int price=0; // PRICE_CLOSE
//---- buffers
double Uptrend[];
double Dntrend[];
double ExtMapBuffer[];
//+------------------------------------------------------------------+
//| Custom indicator initialization function |
//+------------------------------------------------------------------+
int init()
{
IndicatorBuffers(3);
SetIndexBuffer(0, Uptrend);
//ArraySetAsSeries(Uptrend, true);
SetIndexBuffer(1, Dntrend);
//ArraySetAsSeries(Dntrend, true);
SetIndexBuffer(2, ExtMapBuffer);
ArraySetAsSeries(ExtMapBuffer, true);
SetIndexStyle(0,DRAW_LINE,STYLE_SOLID,2);
SetIndexStyle(1,DRAW_LINE,STYLE_SOLID,2);
IndicatorShortName("Execute Line("+period+")");
return(0);
}
//+------------------------------------------------------------------+
//| Custor indicator deinitialization function |
//+------------------------------------------------------------------+
int deinit()
{
// ???? ????? ?????? ??????
return(0);
}
//+------------------------------------------------------------------+
//| ?????????? ??????? |
//+------------------------------------------------------------------+
double WMA(int x, int p)
{
return(iMA(NULL, 0, p, 0, method, price, x));
}
//+------------------------------------------------------------------+
//| Custom indicator iteration function |
//+------------------------------------------------------------------+
int start()
{
int counted_bars = IndicatorCounted();
if(counted_bars < 0)
return(-1);
int x = 0;
int p = MathSqrt(period);
int e = Bars - counted_bars + period + 1;
double vect[], trend[];
if(e > Bars)
e = Bars;
ArrayResize(vect, e);
ArraySetAsSeries(vect, true);
ArrayResize(trend, e);
ArraySetAsSeries(trend, true);
for(x = 0; x < e; x++)
{
vect[x] = 2*WMA(x, period/2) - WMA(x, period);
// Print("Bar date/time: ", TimeToStr(Time[x]), " close: ", Close[x], " vect[", x, "] = ", vect[x], " 2*WMA(p/2) = ", 2*WMA(x, period/2), " WMA(p) = ", WMA(x, period));
}
for(x = 0; x < e-period; x++)
ExtMapBuffer[x] = iMAOnArray(vect, 0, p, 0, method, x);
for(x = e-period; x >= 0; x--)
{
trend[x] = trend[x+1];
if (ExtMapBuffer[x]> ExtMapBuffer[x+1]) trend[x] =1;
if (ExtMapBuffer[x]< ExtMapBuffer[x+1]) trend[x] =-1;
if (trend[x]>0)
{ Uptrend[x] = ExtMapBuffer[x];
if (trend[x+1]<0) Uptrend[x+1]=ExtMapBuffer[x+1];
Dntrend[x] = EMPTY_VALUE;
}
else
if (trend[x]<0)
{
Dntrend[x] = ExtMapBuffer[x];
if (trend[x+1]>0) Dntrend[x+1]=ExtMapBuffer[x+1];
Uptrend[x] = EMPTY_VALUE;
}
//Print( " trend=",trend[x]);
}
return(0);
}
//+------------------------------------------------------------------+
Comments