ForexOFFTrend4(2)_v1
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The SilverTrend script is a technical analysis tool designed to help traders visualize potential price boundaries and identify market sentiment on a trading chart. By analyzing historical price action, the tool calculates specific "high" and "low" zones to help users anticipate where the market might react or reverse.
Core Functionality
The logic operates by scanning a specific number of recent price bars (adjustable by the user) to determine the extremes of the current price movement. It identifies the highest point (peak) and the lowest point (valley) within that timeframe to establish a range of volatility.
How it Works
- Range Calculation: Once the script finds the highest and lowest prices in the look-back period, it calculates two distinct boundary levels based on percentage-based "K" factors. These factors determine how far inland from the absolute peak or valley the indicator should project its lines.
- Visual Mapping: The tool plots two primary lines on your chart—traditionally represented in Red and Blue. These lines act as dynamic boundaries that follow the price action, shifting as new highs and lows are formed.
- Trend Sentiment: By comparing the relationship between these two calculated levels (determining which is higher or lower), the script provides a visual cue regarding the current "Buy" or "Sell" zones.
User Interface & Feedback
To provide real-time data beyond just the visual lines, the script includes a dynamic comment feature on the trading chart. This section lists out the specific numerical values for these Buy and Sell levels across several preceding bars. This allows traders to see a snapshot of the calculated boundaries at a glance, helping them monitor the transition between different price phases more accurately.
Summary for Traders
Essentially, SilverTrend serves as a trend-tracking guide. It smooths out market noise by focusing on significant highs and lows, projecting specific boundary lines that help traders identify potential support and resistance areas based on previous price volatility.
/*-----------------------------+
| |
| Shared by www.Aptrafx.com |
| |
+------------------------------*/
//+------------------------------------------------------------------+
//| SilverTrend .mq4 |
//| SilverTrend rewritten by CrazyChart |
//| http://viac.ru/ |
//+------------------------------------------------------------------+
#property copyright "SilverTrend rewritten by CrazyChart"
#property link "http://viac.ru/ "
#property indicator_chart_window
#property indicator_buffers 2
#property indicator_color1 Red
#property indicator_color2 Blue
//---- input parameters
extern int CountBars=300;
extern int SSP=7;
extern int Decimals=4;
extern double Kmin=1.6;
extern double Kmax=50.6; //24 21.6 21.6
//---- buffers
double ExtMapBuffer1[];
double ExtMapBuffer2[];
//+------------------------------------------------------------------+
//| Custom indicator initialization function |
//+------------------------------------------------------------------+
int init()
{
//---- indicators
IndicatorBuffers(2);
SetIndexStyle(0,DRAW_LINE,0,2,Red);
SetIndexBuffer(0,ExtMapBuffer1);
SetIndexStyle(1,DRAW_LINE,0,2,Blue);
SetIndexBuffer(1,ExtMapBuffer2);
//----
return(0);
}
//+------------------------------------------------------------------+
//| Custor indicator deinitialization function |
//+------------------------------------------------------------------+
int deinit()
{
return(0);
}
//+------------------------------------------------------------------+
//| Custom indicator iteration function |
//+------------------------------------------------------------------+
int start()
{
if (CountBars>=Bars) CountBars=Bars;
SetIndexDrawBegin(0,Bars-CountBars+SSP);
SetIndexDrawBegin(1,Bars-CountBars+SSP);
int i, i2,loopbegin,counted_bars=IndicatorCounted();
double SsMax, SsMin, K, val1, val2, smin, smax, price;
if(Bars<=SSP+1) return(0);
//---- initial zero
//K=33-RISK;
/*
if (firstTime==true) {
loopbegin = CountBars;
if (loopbegin>(Bars-2*SSP+1)) loopbegin=Bars-2*SSP+1;
firstTime=False;
}; ðóäèìåíò ñòàðîé ïðîãðàììû
*/
if(Bars<=SSP+1) return(0);
//---- initial zero
//+++++++
if(counted_bars<SSP+1)
{
for(i=1;i<=SSP;i++) ExtMapBuffer1[CountBars-i]=0.0;
for(i=1;i<=SSP;i++) ExtMapBuffer2[CountBars-i]=0.0;
}
//+++++++-SSP
for(i=CountBars-SSP;i>=0;i--) {
SsMax = High[Highest(NULL,0,MODE_HIGH,SSP,i-SSP+1)];
SsMin = Low[Lowest(NULL,0,MODE_LOW,SSP,i-SSP+1)];
smin = SsMin-(SsMax-SsMin)*Kmin/100;
smax = SsMax-(SsMax-SsMin)*Kmax/100;
ExtMapBuffer1[i-SSP+6]=NormalizeDouble(smax,Decimals);
ExtMapBuffer2[i-SSP-1]=NormalizeDouble(smax,Decimals);
val1 = ExtMapBuffer1[0];
val2 = ExtMapBuffer2[0];
if (val1 > val2) {
Comment( "\nBuy 0 ",ExtMapBuffer1[0], " Sell 0 ",ExtMapBuffer2[0],
"\nBuy 1 ",ExtMapBuffer1[1], " Sell 1 ",ExtMapBuffer2[1],
"\nBuy 2 ",ExtMapBuffer1[2], " Sell 2 ",ExtMapBuffer2[2],
"\nBuy 3 ",ExtMapBuffer1[3], " Sell 3 ",ExtMapBuffer2[3],
"\nBuy 4 ",ExtMapBuffer1[4], " Sell 4 ",ExtMapBuffer2[4],
"\nBuy 5 ",ExtMapBuffer1[5], " Sell 5 ",ExtMapBuffer2[5],
"\nBuy 6 ",ExtMapBuffer1[6], " Sell 6 ",ExtMapBuffer2[6]);
/*Comment( "\nBuy 0 ",ExtMapBuffer1[0], " Sell 0 ",NormalizeDouble(smax,Decimals));*/
}
if (val1 < val2) {
Comment( "\nSell 0 ",ExtMapBuffer2[0]," Buy 0 ",ExtMapBuffer1[0],
"\nSell 1 ",ExtMapBuffer2[1]," Buy 1 ",ExtMapBuffer1[1],
"\nSell 2 ",ExtMapBuffer2[2]," Buy 2 ",ExtMapBuffer1[2],
"\nSell 3 ",ExtMapBuffer2[3]," Buy 3 ",ExtMapBuffer1[3],
"\nSell 4 ",ExtMapBuffer2[4]," Buy 4 ",ExtMapBuffer1[4],
"\nSell 5 ",ExtMapBuffer2[5]," Buy 5 ",ExtMapBuffer1[5],
"\nSell 6 ",ExtMapBuffer2[6]," Buy 6 ",ExtMapBuffer1[6]);
}
}
//----
return(0);
}
//+------------------------------------------------------------------+
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