Heiken_Ashi_v1_SWAlert
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This tool is designed for traders who use the Heiken Ashi charting method to identify market trends. Rather than just displaying a standard price chart, this script processes price data to create a simplified visual representation of momentum, specifically focusing on whether the market is currently in an "Up" or "Down" trend.
Core Logic and Functionality
1. Trend Calculation (Heiken Ashi Modeling) The script works by calculating "Heiken Ashi" values. Unlike standard candles which show raw prices, Heikin Ashi prices are averaged to smooth out market noise. The tool looks at the relationship between these smoothed opening and closing prices:
- If the calculated opening price is lower than the closing price, it identifies an Upward Trend.
- If the calculated opening price is higher than the closing price, it identifies a Downward Trend.
2. Visual Representation The script displays its findings in a separate window on your platform. It uses a histogram format to clearly distinguish between different market states. By tracking these trends bar-by-bar, it provides a continuous visual flow of the market's direction, making it easier for a trader to see where momentum is shifting without getting distracted by minor price fluctuations.
3. Automated Alert System One of the primary features of this script is its ability to notify the trader automatically when the trend flips. The logic follows these steps:
- Trend Detection: It constantly monitors the transition between a negative trend (Down) and a positive trend (Up), or vice versa.
- Verification: To ensure the signal is significant, the script checks if there is active trading volume present at the moment of the shift.
- Notifications: If a reversal is confirmed, the script can trigger several types of notifications depending on your settings:
- Pop-up Alerts: A text message appears on your screen indicating a "Signal for BUY" or a "Signal for SELL."
- Audio Warnings: The script can play a specific sound file to grab your attention immediately when the trend changes.
Summary for the User
Essentially, this tool acts as an automated "trend scout." It filters out market noise using Heiken Ashi logic, visualizes the current trend direction in a dedicated window, and proactively alerts you the moment the market switches from a buying trend to a selling trend (or vice versa), helping you react more quickly to significant price movements.
//+------------------------------------------------------------------+
//| Heiken Ashi_SWAlert.mq4 |
//| Copyright © 2004, MetaQuotes Software Corp. |
//| http://www.metaquotes.net |
//| Modififed by Igorad for display in separate window |
//| "http://www.forex-tsd.com/"|
//+------------------------------------------------------------------+
//| For Heiken Ashi we recommend next chart settings ( press F8 or |
//| select on menu 'Charts'->'Properties...'): |
//| - On 'Color' Tab select 'Black' for 'Line Graph' |
//| - On 'Common' Tab disable 'Chart on Foreground' checkbox and |
//| select 'Line Chart' radiobutton |
//+------------------------------------------------------------------+
#property copyright "Copyright © 2004, MetaQuotes Software Corp."
#property link "http://www.metaquotes.net"
#property indicator_separate_window
#property indicator_buffers 2
#property indicator_color1 Red
#property indicator_width1 3
#property indicator_color2 White
#property indicator_width2 3
#property indicator_maximum 1.05
#property indicator_minimum -0.05
//#property indicator_color3 Red/
//#property indicator_color4 White
//---- buffers
extern int AlertMode = 0;
extern int WarningMode = 0;
double ExtMapBuffer1[];
double ExtMapBuffer2[];
double ExtMapBuffer3[];
double ExtMapBuffer4[];
double trend[];
//----
int ExtCountedBars=0;
bool UpTrendAlert=false, DownTrendAlert=false;
//+------------------------------------------------------------------+
//| Custom indicator initialization function |
//|------------------------------------------------------------------|
int init()
{
//---- indicators
IndicatorBuffers(5);
SetIndexStyle(0,DRAW_HISTOGRAM);
SetIndexBuffer(0, ExtMapBuffer1);
SetIndexStyle(1,DRAW_HISTOGRAM);
SetIndexBuffer(1, ExtMapBuffer2);
// SetIndexStyle(2,DRAW_HISTOGRAM, 0, 3, Red);
SetIndexBuffer(2, ExtMapBuffer3);
// SetIndexStyle(3,DRAW_HISTOGRAM, 0, 3, White);
SetIndexBuffer(3, ExtMapBuffer4);
SetIndexBuffer(4,trend);
//----
SetIndexDrawBegin(0,10);
SetIndexDrawBegin(1,10);
//SetIndexDrawBegin(2,10);
//SetIndexDrawBegin(3,10);
//---- indicator buffers mapping
//SetIndexBuffer(0,ExtMapBuffer1);
//SetIndexBuffer(1,ExtMapBuffer2);
//SetIndexBuffer(2,ExtMapBuffer3);
//SetIndexBuffer(3,ExtMapBuffer4);
//---- initialization done
return(0);
}
//+------------------------------------------------------------------+
//| Custor indicator deinitialization function |
//+------------------------------------------------------------------+
int deinit()
{
//---- TODO: add your code here
//----
return(0);
}
//+------------------------------------------------------------------+
//| Custom indicator iteration function |
//+------------------------------------------------------------------+
int start()
{
double haOpen, haHigh, haLow, haClose;
if(Bars<=10) return(0);
ExtCountedBars=IndicatorCounted();
//---- check for possible errors
if (ExtCountedBars<0) return(-1);
//---- last counted bar will be recounted
if (ExtCountedBars>0) ExtCountedBars--;
int pos=Bars-ExtCountedBars-1;
while(pos>=0)
{
haOpen=(ExtMapBuffer3[pos+1]+ExtMapBuffer4[pos+1])/2;
haClose=(Open[pos]+High[pos]+Low[pos]+Close[pos])/4;
haHigh=MathMax(High[pos], MathMax(haOpen, haClose));
haLow=MathMin(Low[pos], MathMin(haOpen, haClose));
trend[pos]=trend[pos+1];
if (haOpen<haClose)
{
trend[pos]=1;
ExtMapBuffer1[pos]=0;
ExtMapBuffer2[pos]=1;
if (WarningMode>0 && pos==0 && trend[1]<0) PlaySound("alert2.wav");
}
else
{
trend[pos]=-1;
ExtMapBuffer1[pos]=1;
ExtMapBuffer2[pos]=0;
if (WarningMode>0 && pos==0 && trend[1]>0) PlaySound("alert2.wav");
}
ExtMapBuffer3[pos]=haOpen;
ExtMapBuffer4[pos]=haClose;
pos--;
}
//----------
string Message;
if ( trend[2]<0 && trend[1]>0 && Volume[0]>1 && !UpTrendAlert)
{
Message = " "+Symbol()+" M"+Period()+": Signal for BUY";
if ( AlertMode>0 ) Alert (Message);
UpTrendAlert=true; DownTrendAlert=false;
}
if ( trend[2]>0 && trend[1]<0 && Volume[0]>1 && !DownTrendAlert)
{
Message = " "+Symbol()+" M"+Period()+": Signal for SELL";
if ( AlertMode>0 ) Alert (Message);
DownTrendAlert=true; UpTrendAlert=false;
}
//----
return(0);
}
//+------------------------------------------------------------------+
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