HL_v2
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Overview
This technical script is designed to analyze price action on a trading chart by identifying and smoothing out specific price movements. Rather than simply following the raw, jagged fluctuations of the market, the logic focuses on identifying "peaks" and "valleys" (local highs and lows) and connecting them with straight linear paths. The goal is to filter out minor market noise to reveal the underlying trend of the price data.
Core Logic & Functionality
The script operates by processing four distinct data streams simultaneously:
- Highest Prices: Capturing the upper bounds of price movement.
- Lowest Prices: Capturing the lower bounds of price movement.
- Mid-Point Values (Set A): Calculating the average between the opening and closing prices.
- Mid-Point Values (Set B): Also calculating the average between the opening and closing prices to provide a secondary layer of confirmation.
How it Processes Data
The script performs three main actions to translate raw data into visual information:
- Trend Identification: The logic scans through historical price bars to detect changes in direction. It looks for specific points where the price stops descending and begins to ascend (for highs), or where it stops ascending and begins to descend (for lows).
- Point Selection: Once a change in direction is detected, the script identifies the "pivot" points—the exact coordinates where these turns occur. It handles instances of flat movement (where the price remains unchanged) by grouping those periods together to ensure the lines remain accurate.
- Linear Interpolation (Smoothing): This is the most critical part of the logic. Instead of drawing a jagged line from one point to another, the script uses mathematical interpolation. When it identifies two consecutive significant peaks or valleys, it draws a perfectly straight line between them. This effectively "bridges" the gap, creating a cleaner visual representation of the price's trajectory.
Visual Representation
The resulting output on the chart consists of four distinct lines:
- Blue Lines: These represent the smoothed paths of the high and low price points. They provide a clearer view of the overall "corridor" in which the market is moving.
- Yellow Lines: These represent the smoothed paths of the average prices (mid-points). These are typically used to identify the "heart" of the price action, helping traders see the equilibrium between buying and selling pressure.
Summary for the User
By using this logic, the script strips away the "jitter" of real-time trading. It creates a simplified map of the market's movement, allowing you to see the primary trends—the significant highs and lows—as continuous, connected paths rather than scattered, disconnected price points.
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HL_v2
//+------------------------------------------------------------------+
//| H_L.mq4 |
//| Copyright © 2004, MetaQuotes Software Corp. |
//| http://www.metaquotes.net |
//+------------------------------------------------------------------+
#property copyright "Copyright © 2004, MetaQuotes Software Corp."
#property link "http://www.metaquotes.net"
//----
#property indicator_chart_window
#property indicator_buffers 4
#property indicator_color1 Blue
#property indicator_color2 Blue
#property indicator_color3 Yellow
#property indicator_color4 Yellow
//---- input parameters
extern int S=4;
//---- buffers
double ID_0[];
double ID_1[];
double ID_2[];
double ID_3[];
//+------------------------------------------------------------------+
//| Custom indicator initialization function |
//+------------------------------------------------------------------+
int init()
{
IndicatorBuffers(4);
SetIndexBuffer(0,ID_0);
SetIndexBuffer(1,ID_1);
SetIndexBuffer(2,ID_2);
SetIndexBuffer(3,ID_3);
//---- indicators
SetIndexStyle(0,DRAW_LINE);
SetIndexStyle(1,DRAW_LINE);
SetIndexStyle(2,DRAW_LINE);
SetIndexStyle(3,DRAW_LINE);
//----//
return(0);
}
//+------------------------------------------------------------------+
//| Custom indicator deinitialization function |
//+------------------------------------------------------------------+
int deinit()
{
//---- TODO: add your code here
//----
return(0);
}
//+------------------------------------------------------------------+
//| Custom indicator iteration function |
//+------------------------------------------------------------------+
int start()
{
int limit;
int counted_bars=IndicatorCounted();
if (counted_bars<0) return(-1);
if (counted_bars>0) counted_bars--;
limit=Bars-counted_bars;
int A1=0;int A1d=0;
int A2=0;int A2d=0;
int V1=0;int V1d=0;
int V2=0;int V2d=0;
int AX=0;int AXd=0;
int BX=0;int BXd=0;
int CX=0;int CXd=0;
int DX=0;int DXd=0;
//----
for(int cnt1=0; cnt1<limit; cnt1++)
{
ID_0[cnt1]=High[cnt1];
ID_1[cnt1]=Low[cnt1];
ID_2[cnt1]=(Open[cnt1]+Close[cnt1])/2;
ID_3[cnt1]=(Open[cnt1]+Close[cnt1])/2;
}
for(int cnt2=0;cnt2<S;cnt2++)
{
AX=0;BX=0;CX=0;DX=0;A1=0;A2=0;V1=0;V2=0;
AXd=0;BXd=0;CXd=0;DXd=0;A1d=0;A2d=0;V1d=0;V2d=0;
//----
for(int cnt3=limit-1;cnt3>=0;cnt3--)
{
//---------------------------------------------------
if (cnt3>0 && ID_0[cnt3]<ID_0[cnt3-1])
{
AX=cnt3-1;
BX=AX;
}
if (cnt3>0 && ID_0[cnt3]==ID_0[cnt3-1] && AX>0)
{
BX=cnt3-1;
}
if (cnt3>0 && ID_0[cnt3]>ID_0[cnt3-1] && AX>0) //
{
if (A1==0)
{
A1=(AX+BX)/2;
}
if (A1>0)
{
A2=(AX+BX)/2;
}
if (A1>0 && A2>0)
{
for(int cnt4=1;cnt4<=A1-A2;cnt4++)
{
ID_0[A2+cnt4]=ID_0[A2]+(((ID_0[A1]-ID_0[A2])*cnt4)/(A1-A2));
}
A1=A2;
A2=0;
}
}
//-----------------------------------------------
if (cnt3>0 && ID_1[cnt3]>ID_1[cnt3-1])
{
CX=cnt3-1;
DX=CX;
}
if (cnt3>0 && ID_1[cnt3]==ID_1[cnt3-1] && CX>0)
{
DX=cnt3-1;
}
if (cnt3>0 && ID_1[cnt3]<ID_1[cnt3-1] && CX>0)
{
if (V1==0)
{
V1=(CX+DX)/2;
}
if (V1>0)
{
V2=(CX+DX)/2;
}
if (V1>0 && V2>0)
{
for(int cnt5=1;cnt5<=V1-V2;cnt5++)
{
ID_1[V2+cnt5]=ID_1[V2]+(((ID_1[V1]-ID_1[V2])*cnt5)/(V1-V2));
}
V1=V2;
V2=0;
}
}
//---------------------------------------------------
if (cnt3>0 && ID_2[cnt3]<ID_2[cnt3-1])
{
AXd=cnt3-1;
BXd=AXd;
}
if (cnt3>0 && ID_2[cnt3]==ID_2[cnt3-1] && AXd>0)
{
BXd=cnt3-1;
}
if (cnt3>0 && ID_2[cnt3]>ID_2[cnt3-1] && AXd>0)
{
if (A1d==0)
{
A1d=(AXd+BXd)/2;
}
if (A1d>0)
{
A2d=(AXd+BXd)/2;
}
if (A1d>0 && A2d>0)
{
for(int cnt41=1;cnt41<=A1d-A2d;cnt41++)
{
ID_2[A2d+cnt41]=ID_2[A2d]+(((ID_2[A1d]-ID_2[A2d])*cnt41)/(A1d-A2d));
}
A1d=A2d;
A2d=0;
}
}
//-----------------------------------------------
if (cnt3>0 && ID_3[cnt3]>ID_3[cnt3-1])
{
CXd=cnt3-1;
DXd=CXd;
}
if (cnt3>0 && ID_3[cnt3]==ID_3[cnt3-1] && CXd>0)
{
DXd=cnt3-1;
}
if (cnt3>0 && ID_3[cnt3]<ID_3[cnt3-1] && CXd>0)
{
if (V1d==0)
{
V1d=(CXd+DXd)/2;
}
if (V1d>0)
{
V2d=(CXd+DXd)/2;
}
if (V1d>0 && V2d>0)
{
for(int cnt51=1;cnt51<=V1d-V2d;cnt51++)
{
ID_3[V2d+cnt51]=ID_3[V2d]+(((ID_3[V1d]-ID_3[V2d])*cnt51)/(V1d-V2d));
}
V1d=V2d;
V2d=0;
}
}
}
//-----------------------------------------------------
}
return(0);
}
//+------------------------------------------------------------------+
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