iCCI_M1+H1+D1
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This custom trading indicator is designed to provide a multi-dimensional view of market momentum by combining data from three distinct timeframes simultaneously. Instead of relying on just the current chart's timeframe, it captures a "big picture" perspective by looking at short-term, medium-term, and long-term trends at once.
How the Logic Works
The tool operates by calculating a specific technical metric known as the Commodity Channel Index (CCI) across three different market scales:
- 1-Minute Chart (Short-Term): Captures immediate, high-frequency price fluctuations and rapid movements.
- 1-Hour Chart (Medium-Term): Provides context on the current day's trend and hourly price direction.
- Daily Chart (Long-Term): Shows the overarching direction of the market over several days.
Visual Representation
The indicator tracks these three different scales and displays them as three separate lines in a dedicated window below your main price chart. Each timeframe is assigned a unique color:
- Red: Represents the 1-Minute data.
- Green: Represents the 1-Hour data.
- Blue: Represents the Daily data.
Key Features and Performance
- Synchronized Analysis: By looking at all three timeframes simultaneously, the indicator allows you to see if short-term momentum is moving in harmony with long-term trends or if it is diverging.
- Customizable Lookback: Users can adjust how many historical bars are processed and the sensitivity period of the calculation to fit their specific trading style.
- Efficiency: The script is optimized to only process a set amount of recent data (as defined by the user), ensuring that the platform remains responsive while providing necessary trend information.
In essence, this tool acts as a "trend compass," helping traders identify whether the current immediate price action aligns with the broader market direction across multiple layers of time.
//+------------------------------------------------------------------+
//| iCCI_M1+H1+D1.mq4 |
//| Yuriy Tokman |
//| yuriytokman@gmail.com |
//+------------------------------------------------------------------+
#property copyright "Yuriy Tokman"
#property link "yuriytokman@gmail.com"
#property indicator_separate_window
#property indicator_buffers 3
#property indicator_color1 Red
#property indicator_color2 Green
#property indicator_color3 Blue
//---- input parameters
extern int barsToProcess=30;
extern int period=14;
//---- buffers
double ExtMapBuffer1[];
double ExtMapBuffer2[];
double ExtMapBuffer3[];
//+------------------------------------------------------------------+
//| Custom indicator initialization function |
//+------------------------------------------------------------------+
int init()
{
//---- indicators
SetIndexBuffer(0,ExtMapBuffer1); SetIndexStyle(0,DRAW_LINE,STYLE_SOLID,1);
SetIndexBuffer(1,ExtMapBuffer2); SetIndexStyle(1,DRAW_LINE,STYLE_SOLID,1);
SetIndexBuffer(2,ExtMapBuffer3); SetIndexStyle(2,DRAW_LINE,STYLE_SOLID,1);
//----
return(0);
}
//+------------------------------------------------------------------+
//| Custom indicator deinitialization function |
//+------------------------------------------------------------------+
int deinit()
{
//----
//----
return(0);
}
//+------------------------------------------------------------------+
//| Custom indicator iteration function |
//+------------------------------------------------------------------+
int start()
{
int counted_bars=IndicatorCounted(),
//----
limit;
if(counted_bars>0)
counted_bars--;
limit=Bars-counted_bars;
if(limit>barsToProcess)
limit=barsToProcess;
for(int i=0;i<limit;i++)
{
ExtMapBuffer1[i]=iCCI(NULL,PERIOD_M1,period,PRICE_OPEN,i);
ExtMapBuffer2[i]=iCCI(NULL,PERIOD_H1,period,PRICE_OPEN,i);
ExtMapBuffer3[i]=iCCI(NULL,PERIOD_D1,period,PRICE_OPEN,i);
}
//----
return(0);
}
//+------------------------------------------------------------------+
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