iMAX3alert1
Download script
This script is a technical analysis tool designed to identify and alert traders when the market trend changes direction. It uses sophisticated mathematical filters to separate actual market trends from "noise" (minor, insignificant price fluctuations), providing different levels of sensitivity depending on the user's trading style.
Core Logic & Functionality
The script operates based on three distinct "Modes," each offering a different balance between speed and stability:
- iMAX Mode: This is the most stable and adaptive setting. It is designed to be less reactive to sudden, sharp price spikes. While it may take slightly longer to confirm a trend change compared to other modes, it is highly reliable for volatile markets where you want to avoid "fake-outs."
- iMAXhp Mode: This serves as a middle ground. It is faster at detecting trend changes than the standard iMAX mode but remains more stable than the fastest option. It filters out some price noise while still providing relatively quick notifications.
- iMAXhpx Mode: This is the most aggressive and fastest detection method. It follows price action very closely, making it ideal for identifying rapid shifts. However, because it is so sensitive, it can trigger frequently in choppy markets, making it best suited for higher timeframes where trend movements are more significant.
Key Features
1. Smart Trend Detection (Phase Crossings) The tool monitors "phases" (visualized as lines on the chart). When the price crosses over these phases, it signals a potential trend shift. The script calculates whether these crossings represent a meaningful change in direction or just a temporary fluctuation.
2. Intelligent Alert System To prevent traders from being overwhelmed by constant notifications, the script features an "Early Warning" logic:
- Instant Notification: Alerts are triggered as soon as a trend crossing occurs on a new price bar. This gives the trader the fastest possible heads-up.
- Anti-Spam Filtering: To avoid repetitive alerts caused by price "wobbling" back and forth across a line, the script will only send one alert per bar. It won't trigger again until a new candle begins, providing a balanced approach between speed and usability.
3. Visual Aids If enabled, the script provides visual confirmation on the chart:
- Arrows: It plots upward and downward arrows at the exact moment a trend change is confirmed.
- Phase Lines: Users can choose to display the underlying calculation lines (the "phases") directly on the price chart to see how the indicator is perceiving the current market flow.
4. Automated Asset Calibration The script includes built-in intelligence for different types of currency pairs. It recognizes high-value pairs like the Japanese Yen (JPY) and Mexican Peso (MXN) and automatically adjusts its mathematical "amplitude" (the distance it looks for a trend change). This ensures the indicator performs accurately whether you are trading major currencies, volatile pairs, or commodities.
5. Safety & Compatibility If a user selects a high-sensitivity mode (hp or hpx) on a currency pair that isn't specifically calibrated for those settings, the script will automatically default to "iMAX Mode" to ensure the data remains reliable and consistent.
Miscellaneous
11
Views
0
Downloads
0
Favorites
iMAX3alert1
/*+-------------------------------------------------------------------+
| iMAX3alert.mq4 |
| Based upon the iMAX3 indicator. |
| |
| In this alert version only one of the three modes available can |
| selected at a time in order to generate optional display arrows |
| and alerts on a phase crossing/fast trend change. |
| |
| The iMAX mode is the most adaptive, but the least responsive in |
| terms of speed of detection of a trend change of the three modes. |
| However, it is a good all around choice, especially in highly |
| volatile markets. |
| |
| The iMAXhp mode is a faster trend detector, adaptive, but less |
| immune to spikes in prices than the iMAX mode (More easily |
| whipsawed by price action). It is a good compromise between trend |
| detection speed/filtering. |
| |
| The iMAXhpx mode is the fastest trend detector, but because it |
| follows price action so closely, it will change trends very |
| rapidly at times... even in less volatile markets. So it is |
| probably not a good choice for alerts, in the lower time frames...|
| under almost any circumstances, but might work out in higher time |
| frames... so, it is available. |
| |
| It is up to the user to select an appropriate mode for the |
| desired speed of detection and price action filtering, for the |
| security and time frame that alerts are to be generated for. | |
| |
| Alerts and arrows are generated on the open bar... that means |
| they can change as price changes on that bar. Once the bar |
| closes, the arrow becomes fixed. Alerts are generated on the |
| first alert event on the open bar, giving the earliest possible |
| warning of a possible trend change, but thereafter may not be |
| triggered again until bar closing... this is done to strike a |
| compromise in favor of an early alert. Price can move back and |
| forth over a phase crossing on an open bar generating repititious |
| alerts, that most traders find irritating. However, an alert |
| generated on a closed bar may come to late to do any good for a |
| trader... So, the compromise is to alert the trader to the first |
| crossing event on the open bar... and then they know to watch |
| what happens after that, on that bar, because until a new bar |
| forms, there may not be another alert generated. This is a |
| "heads up" alert system. |
| |
| Twenty currency pairs have been checked for compantibility with |
| the preset amplitude settings for the hp modes. In that group, |
| two currencies, the Mexican Peso, and the Japanese Yen are |
| treated as exceptions, with unique settings provided for in |
| those cases. So, this version of the iMAX indicator is a good |
| example of how to handle programming the amplitude phase shifts |
| for the hp trend detection modes. |
| |
| iMAX mode 0 will automatically handle any security or commodity |
| pair detected that hp modes are not programmed for. |
| |
| This version is liberally commented to help in fully understanding|
| the iMAX indicator in practical usage. |
| |
| "Modified Optimum Elliptic Filter" ref: | |
| Source of calculations; |
| Stocks & Commodities vol 18:7 p20-29 |
| Optimal Detrending by John F. Ehlers |
| |
| Crafted by Wylie |
| Copyright © 2009 |
| dazzle.html@live.com |
+-------------------------------------------------------------------+*/
#property copyright "Copyright © 2009, Wylie"
#property link "dazzle.html@live.com"
#property indicator_chart_window
#property indicator_buffers 8
#property indicator_color1 Lime
#property indicator_width1 1
#property indicator_color2 HotPink
#property indicator_width2 1
#property indicator_color3 White
#property indicator_width3 1
#property indicator_color4 Orange
#property indicator_width4 1
#property indicator_color5 Aqua
#property indicator_width5 1
#property indicator_color6 Red
#property indicator_width6 1
#property indicator_color7 Aqua
#property indicator_width7 1
#property indicator_color8 Red
#property indicator_width8 1
/*+-------------------------------------------------------------------+
| iMAX3alert Parameters |
+-------------------------------------------------------------------+*/
extern string _0 = "";
bool EnableAlerts = false;
bool EnableArrows = false;
int ArrowUPsize = 1;
int ArrowDNsize = 1;
color ArrowUPcolor = Aqua;
color ArrowDNcolor = Red;
string _1 = "";
string _2 = "Select Mode";
string _3 = "iMAX mode = 0";
string _4 = "hp mode = 1";
string _5 = "hpx mode = 2";
int Mode_user = 1;
string _6 = "";
string _7 = "Display phases on chart";
bool ChartPhases = true;
string _8 = "";
string _9 = "Amplitude shift for hp modes.";
string _10 = "0.0 = Use internal presets.";
double Ph1stepHPmodes = 0.0;
string _11 = "";
color hpxPh1color = Lime;
color hpxPh2color = HotPink;
string _12 = "";
color hpPh1color = White;
color hpPh2color = Orange;
string _13 = "";
color iMAXph1color = Aqua;
color iMAXph2color = Red;
bool ModeFault = false, // Used to flag an incorrect mode selection by the user.
Mode; // Used to switch over to mode 0, if hp modes are not programmed to handle a security pair.
// indicator buffers
double iMAX0[10000],iMAX1[10000],hp0[],hp1[],hpx0[],hpx1[],CrossUp[10000],CrossDn[10000],
Clearance, // Used to set clearance distance for arrows above or below price on the chart.
Ph1step, // Phase 1 amplitude modulation value for hp modes.
x, // Available for use as a temporary variable.
xhp0,xhp1, // Used to compensate for 180 degree phase difference between iMAX and hp mode.
b0,b1,r0,r1; // Used to interface phases to arrow and alert logic.
int MinBars,limit,countedBars,
AST, // Alert stop time. Time filter period to prevent repetitious alerts from occurring.
c, // Integer variable used for counting.
sym, // Integer identifying either JPY, MXN, or all other securities (states 1 thru 3).
NumSym; // Number of authorized securities.
string SymList[20], // Array containing authorized security pairs.
symStr, // Truncated symbol string to identify one security from the symbol pair.
Chart; // Used by alert function to identify the chart reporting the alert.
static datetime AlertX[3]; // Array used ot store alert event time flags.
/*+-------------------------------------------------------------------+
| iMAX3alert Initialization |
+-------------------------------------------------------------------+*/
int init()
{
SymList[0] = "AUDCAD"; // Symbols this indicator has been checked to function with.
SymList[1] = "AUDNZD"; // Other symbols can be added or substituted here if the
SymList[2] = "AUDJPY"; // securities pose no problems for the Ph1step amplitude
SymList[3] = "AUDUSD"; // settings for the hp modes. That can be modified too, if necessatry.
SymList[4] = "CADJPY";
SymList[5] = "CHFJPY";
SymList[6] = "EURAUD";
SymList[7] = "EURCAD";
SymList[8] = "EURCHF";
SymList[9] = "EURGBP";
SymList[10] = "EURJPY";
SymList[11] = "EURUSD";
SymList[12] = "GBPCHF";
SymList[13] = "GBPJPY";
SymList[14] = "GBPUSD";
SymList[15] = "NZDUSD";
SymList[16] = "USDCAD";
SymList[17] = "USDCHF";
SymList[18] = "USDMXN";
SymList[19] = "USDJPY";
SymList[20] = "USDTRY";NumSym = 20;
if(ModeFault)
{Mode_user = 0;Mode = 0;ModeFault = false;}
if((Mode_user == 1 || Mode_user == 2) && !GoSym())
{sendAlert(3,("iMAX3alert: HP modes not programmed to function with this Symbol. Switching to mode 0."));
Mode = 0;}
else
{Mode = Mode_user;}
IndicatorBuffers(8);
if(Mode == 2) // Not initializing these buffers unless hpxMode mode is selected.
{SetIndexBuffer(0,hpx0);
SetIndexBuffer(1,hpx1);
if(ChartPhases) // Display phases in chart price area
{SetIndexStyle(0,DRAW_LINE,STYLE_SOLID,1,hpxPh1color);
SetIndexStyle(1,DRAW_LINE,STYLE_SOLID,1,hpxPh2color);}
else // Do not Display phases in chart price area
{SetIndexStyle(0,DRAW_NONE);
SetIndexStyle(1,DRAW_NONE);}}
if(Mode == 1) // Not initializing these buffers unless hpMode mode is selected.
{SetIndexBuffer(2,hp0);
SetIndexBuffer(3,hp1);
if(ChartPhases) // Display phases in chart price area
{SetIndexStyle(2,DRAW_LINE,STYLE_SOLID,1,hpPh1color);
SetIndexStyle(3,DRAW_LINE,STYLE_SOLID,1,hpPh2color);}
else // Do not Display phases in chart price area
{SetIndexStyle(2,DRAW_NONE);
SetIndexStyle(3,DRAW_NONE);}}
SetIndexBuffer(4,iMAX0);
SetIndexBuffer(5,iMAX1);
if(Mode == 0 && ChartPhases) // Display phases in chart price area
{SetIndexStyle(4,DRAW_LINE,STYLE_SOLID,1,iMAXph1color);
SetIndexStyle(5,DRAW_LINE,STYLE_SOLID,1,iMAXph2color);}
else // Do not Display phases in chart price area
{SetIndexStyle(4,DRAW_NONE);
SetIndexStyle(5,DRAW_NONE);}
if(EnableArrows) // Not initializing these buffers unless arrows generation is selected.
{SetIndexBuffer(6,CrossUp);
SetIndexStyle(6,DRAW_ARROW,STYLE_SOLID,ArrowUPsize,ArrowUPcolor);
SetIndexArrow(6,221);
SetIndexBuffer(7,CrossDn);
SetIndexStyle(7,DRAW_ARROW,STYLE_SOLID,ArrowDNsize,ArrowDNcolor);
SetIndexArrow(7,222);}
symStr = StringSubstr(Symbol(),3,3); // Extract the portion of the symbol string that may contain
// references to JPY or MXN securities.
sym = 0; // Set an integer to identify JPY, MXN, or other securities.
if(symStr == "MXN"){sym = 1;}
if(symStr == "JPY"){sym = 2;}
if(Mode == 1 || Mode == 2) // Set phase amplitude values if an hp mode is selected.
{if(Ph1stepHPmodes == 0.0) // If no external amplitude is specified...
{switch(sym) // Select values for JPY, MXN, or all other securites.
{case 0: // Securities other than JPY or MXN
switch(Period()) // Phase 1 amplitude values for each time frame for security pairs other than JPY and MXN.
{case 1: Ph1step = 0.0001; Clearance = 0.0003; break;
case 5: Ph1step = 0.00015; Clearance = 0.0005; break;
case 15: Ph1step = 0.0003; Clearance = 0.0009; break;
case 30: Ph1step = 0.0005; Clearance = 0.0015; break;
case 60: Ph1step = 0.00075; Clearance = 0.0025; break;
case 240: Ph1step = 0.0015; Clearance = 0.004; break;
case 1440: Ph1step = 0.003; Clearance = 0.007; break;
case 10080: Ph1step = 0.005; Clearance = 0.014; break;
case 43200: Ph1step = 0.01; Clearance = 0.026; break;}break;
case 1: // MXN securities
switch(Period()) // Phase 1 amplitude values for each time frame of MXN paired securities.
{case 1: Ph1step = 0.001; Clearance = 0.003; break;
case 5: Ph1step = 0.0015; Clearance = 0.005; break;
case 15: Ph1step = 0.003; Clearance = 0.009; break;
case 30: Ph1step = 0.005; Clearance = 0.015; break;
case 60: Ph1step = 0.0075; Clearance = 0.025; break;
case 240: Ph1step = 0.015; Clearance = 0.04; break;
case 1440: Ph1step = 0.03; Clearance = 0.07; break;
case 10080: Ph1step = 0.05; Clearance = 0.14; break;
case 43200: Ph1step = 0.1; Clearance = 0.26; break;}break;
case 2: // JPY securities
switch(Period()) // Phase 1 amplitude values for each time frame of JPY paired securities.
{case 1: Ph1step = 0.01; Clearance = 0.03; break;
case 5: Ph1step = 0.015; Clearance = 0.05; break;
case 15: Ph1step = 0.03; Clearance = 0.09; break;
case 30: Ph1step = 0.05; Clearance = 0.15; break;
case 60: Ph1step = 0.075; Clearance = 0.25; break;
case 240: Ph1step = 0.15; Clearance = 0.4; break;
case 1440: Ph1step = 0.3; Clearance = 0.7; break;
case 10080: Ph1step = 0.5; Clearance = 1.4; break;
case 43200: Ph1step = 1.0; Clearance = 2.6; break;}break;}}
else // Set amplitude via external parameter.
{Ph1step = Ph1stepHPmodes;}}
if(Mode == 0) // Set chart arrow clearances for mode 0
{switch(Period())
{case 1: Clearance = 0.0003; break;
case 5: Clearance = 0.0005; break;
case 15: Clearance = 0.0009; break;
case 30: Clearance = 0.0015; break;
case 60: Clearance = 0.0025; break;
case 240: Clearance = 0.004; break;
case 1440: Clearance = 0.007; break;
case 10080: Clearance = 0.014; break;
case 43200: Clearance = 0.026; break;}}
if(Mode == 0 && symStr == "MXN") // Set chart arrow clearances for mode 0 Mexican Peso
{switch(Period())
{case 1: Clearance = 0.003; break;
case 5: Clearance = 0.005; break;
case 15: Clearance = 0.009; break;
case 30: Clearance = 0.015; break;
case 60: Clearance = 0.025; break;
case 240: Clearance = 0.04; break;
case 1440: Clearance = 0.07; break;
case 10080: Clearance = 0.14; break;
case 43200: Clearance = 0.26; break;}}
if(Mode == 0 && symStr == "JPY") // Set chart arrow clearances for mode 0 Japanese Yen
{switch(Period())
{case 1: Clearance = 0.03; break;
case 5: Clearance = 0.05; break;
case 15: Clearance = 0.09; break;
case 30: Clearance = 0.15; break;
case 60: Clearance = 0.25; break;
case 240: Clearance = 0.4; break;
case 1440: Clearance = 0.7; break;
case 10080: Clearance = 1.4; break;
case 43200: Clearance = 2.6; break;}}
switch(Period()) // Set general time frame related settings. Chart is used in Alert text, and Alert Stop Time varies by bar time.
{case 1: Chart = "M1"; AST = 59; break;
case 5: Chart = "M5"; AST = 259; break;
case 15: Chart = "M15"; AST = 899; break;
case 30: Chart = "M30"; AST = 1799; break;
case 60: Chart = "H1"; AST = 3599; break;
case 240: Chart = "H4"; AST = 14399; break;
case 1440: Chart = "D1"; AST = 86399; break;
case 10080: Chart = "W1"; AST = 604799; break;
case 43200: Chart = "MN1"; AST = 2591999; break;}
MinBars = 20;
IndicatorShortName("iMAX3alert");
return (0);
} // int init()
/*+-------------------------------------------------------------------+
| iMAX3alert Main cycle |
+-------------------------------------------------------------------+*/
int start()
{
if(Bars <= MinBars)
{Alert("iMAX3alert: Not enough bars on the chart.");return (0);}
if(Mode < 0 || Mode > 2)
{if(!ModeFault)
{ModeFault = true;
Alert("iMAX3alert: User selected an invalid mode... switched to iMAX mode 0.");init();}}
else
{ModeFault = false;}
countedBars = IndicatorCounted();
if(countedBars < 0){return (-1);}
if(countedBars > 0){countedBars--;}
limit = Bars - countedBars - 1;
x = 0.5;
c = limit;
while(c >= 0)
{
// Perform Wylie's modified Ehlers' calculation when hpx mode is selected.
// Results are loaded into indicator buffers hpx0[] (phase 1) and hpx1[] (phase 2)
// Result is also phase compensated to agree with iMAX mode.
if(Mode == 2)
{hpx1[c] = (0.13785 * (2 * ((High[c] + Low[c]) * x) - ((High[c+1] + Low[c+1]) * x)))
+ (0.0007 * (2 * ((High[c+1] + Low[c+1]) * x) - ((High[c+2] + Low[c+2]) * x)))
+ (0.13785 * (2 * ((High[c+2] + Low[c+2]) * x) - ((High[c+3] + Low[c+3]) * x)))
+ (1.2103 * hpx0[c + 1] - 0.4867 * hpx0[c + 2]);
if(Close[c] > hpx1[c])
{hpx0[c] = hpx1[c] + Ph1step;}
if(Close[c] < hpx1[c])
{hpx0[c] = hpx1[c] - Ph1step;}
b0 = hpx0[c];b1 = hpx0[c+1];r0 = hpx1[c];r1 = hpx1[c+1];} // Copy phase values to arrow and alert interface variables.
// Perform Ehlers calculation when iMAXmode or hp mode is selected.
// Results are loaded into indicator buffers iMAX0[] (phase 1) and iMAX1[] (phase 2)
if(Mode == 0 || Mode == 1)
{iMAX0[c] = (0.13785 * (2 * ((High[c] + Low[c]) * x) - ((High[c+1] + Low[c+1]) * x)))
+ (0.0007 * (2 * ((High[c+1] + Low[c+1]) * x) - ((High[c+2] + Low[c+2]) * x)))
+ (0.13785 * (2 * ((High[c+2] + Low[c+2]) * x) - ((High[c+3] + Low[c+3]) * x)))
+ (1.2103 * iMAX0[c + 1] - 0.4867 * iMAX0[c + 2]);
xhp0 = iMAX0[c]; // Set this variable in case hp mode is selected.
// In hp mode the xhp0 variable is used to synthesize hp phases.
iMAX1[c] = iMAX0[c+1]; // Basic iMAX single bar phase shift.
b0 = iMAX0[c];b1 = iMAX0[c+1];r0 = iMAX1[c];r1 = iMAX1[c+1];} // Copy phase values to arrow and alert interface variables.
// Synthesize hp phases from iMAX0 phase 1 signal when hp mode is selected.
// Results are loaded into indicator buffers hp0[] (phase 1) and hp1[] (phase 2)
if(Mode == 1)
{if(Close[c] > iMAX0[c])
{xhp1 = iMAX0[c] + Ph1step;}
if(Close[c] < iMAX0[c])
{xhp1 = iMAX0[c] - Ph1step;}
hp0[c] = xhp1; // Phase compensate 180 degrees (So iMAX mode and hp mode agrees about up and down).
hp1[c] = xhp0;
b0 = hp0[c];b1 = hp0[c+1];r0 = hp1[c];r1 = hp1[c+1];} // Copy phase values to arrow and alert interface variables.
if(EnableArrows)
{if(b0 > r0 && b1 < r1)
{CrossUp[c] = r0 - Clearance;}else{CrossUp[c] = EMPTY_VALUE;}
if(b0 < r0 && b1 > r1)
{CrossDn[c] = r0 + Clearance;}else{CrossDn[c] = EMPTY_VALUE;}}
c--;
} // while(c >= 0)
if(EnableAlerts)
{if(b0 > r0 && b1 < r1)
{sendAlert(0,(StringConcatenate(getDateTime()," ",Symbol()," ",Chart," iMAX3alert signals up trend crossing.")));}
if(b0 < r0 && b1 > r1)
{sendAlert(1,(StringConcatenate(getDateTime()," ",Symbol()," ",Chart," iMAX3alert signals down trend crossing.")));}}
return (0);
} // int start()
/*+-------------------------------------------------------------------+
| End iMAX3alert Main cycle |
+-------------------------------------------------------------------+*/
/*+-------------------------------------------------------------------+
| iMAX3alert support functions |
+-------------------------------------------------------------------+*/
/*+-------------------------------------------------------------------+
| *** Alert processing function |
+-------------------------------------------------------------------+*/
void sendAlert(int AlertNum,string AlertText)
{
if(TimeCurrent() > AlertX[AlertNum] + AST)
{AlertX[AlertNum] = TimeCurrent();
/* Add a sound file here if you want another form of alert...
The sound file must be located in the MT4 "sounds" file folder
and must be a .wav format file. Also remove the // characters before
the PlaySound instruction. The Alert command and semicolon can
be removed if the user wishes to remove the alert entirely, if favor
of a sound file... or it can be "commented out" just add // before
the alert instruction. */
// PlaySound("YourFavoriteAlertSound.wav");
// Print(AlertText); // If using just the PlaySound alert print a copy of the alert message to the journal.
Alert(AlertText);
} // if(TimeCurrent() > AlertX[AlertNum] + AST)
return(0);
} // void sendAlert(int AlertNum,string AlertText)
/*+-------------------------------------------------------------------+
| *** Date/Time display function |
+-------------------------------------------------------------------+*/
string getDateTime()
{
string dsplyDateTime = TimeToStr(TimeCurrent(),TIME_DATE|TIME_SECONDS);
return(dsplyDateTime);
} // string getDateTime()
/*+-------------------------------------------------------------------+
| *** Symbol check function |
+-------------------------------------------------------------------+*/
bool GoSym()
{
bool Go = false;
for(c = 0;c <= NumSym;c++)
{if(Symbol() == SymList[c]){Go = true;}}
return(Go);
}
/*+-------------------------------------------------------------------+
| End iMAX3alert support functions |
+-------------------------------------------------------------------+*/
Comments