This script is a specialized trading tool designed to analyze market trends and provide visual entry signals by combining multiple timeframes and price action methodologies. It primarily utilizes the Heiken Ashi charting technique, which filters out "market noise" to provide a smoother representation of price movement compared to standard Japanese Candlesticks.
Here is a breakdown of the logic used by this script:
Multi-Timeframe Analysis
The core intelligence of this tool lies in its ability to look at different time horizons simultaneously. It monitors data from several periods (such as 5-minute, 1-hour, and 4-hour charts) to ensure that a trade signal is consistent across different perspectives. Instead of looking at the current price in isolation, it validates the "big picture" trend before suggesting a move.
Trend Detection Logic
The script determines the overall market direction using two main layers:
- The Macro Trend (4-Hour): The tool checks the 4-hour Heiken Ashi data to identify if the long-term momentum is currently bullish (up) or bearish (down). This acts as a filter; for example, it generally prefers looking for buy opportunities only when the macro trend allows for it.
- The Micro Trend (1-Hour & 5-Minute): While the 4-hour chart provides the "map," the 1-hour and 5-minute charts provide the "navigation." The script looks for specific price crossovers on these smaller timeframes to identify precise moments where the price is reacting to new information.
Signal Generation (Buy/Sell)
The script identifies entry points based on a sequence of logical conditions:
- Buy Signals: Triggered when the 4-hour trend is upward, and the 5-minute price closes below a specific 1-hour "opening" level while the 1-hour Heiken Ashi candles show a bullish transition.
- Sell Signals: Triggered when the 4-hour trend is downward, and the 5-minute price closes above a specific 1-hour "opening" level while the 1-hour Heiken Ashi candles show a bearish transition.
Dynamic Visual Feedback
To make these complex calculations easy for a user to read, the script translates its logic into visual elements on the chart:
- Trend Lines & Arrows: When a signal is confirmed, the script draws physical lines and arrows (Green for buys, Red for sells) directly on the chart.
- Auto-Updating Labels: It includes a header that identifies the user profile and maintains clear visibility of the current analysis.
- Exit Logic: The script also includes "Close" logic. If the price moves too far in the opposite direction—specifically breaking past the high or low boundaries of the 4-hour Heiken Ashi candles—the active signal is neutralized, notifying the user that the momentum has shifted.
News Integration & Alerts
Beyond just price analysis, the script contains a sophisticated engine for monitoring global news. It can:
- Fetch and display upcoming economic events from the internet.
- Filter news by specific currencies (like USD, EUR, GBP, etc.).
- Provide visual alerts on the chart with different color coding based on the "importance" of the news event (High, Medium, or Low).
- Trigger audio alerts to warn the trader before a significant news release occurs.
Price Data Components
Miscellaneous
4
Views
0
Downloads
0
Favorites
JoeChalhoub_HeikenAshiSwingSignal
//+------------------------------------------------------------------+
//| JoeChalhoub_HeikenAshiSwingSignal.mq4 |
//| www.Rpchost.com |
//| webmaster@rpchost.com |
//+------------------------------------------------------------------+
#property copyright "Copyright © 2009, JoeChalhoub_HeikenAshiSwingSignal"
#property link "webmaster@rpchost.com"
//----
#property indicator_chart_window
#property indicator_buffers 10
#property indicator_color1 LimeGreen
#property indicator_color2 FireBrick
#property indicator_color3 Green
#property indicator_color4 Red
#include <WinUser32.mqh>
#import "wininet.dll"
extern string Symbol1 = "";
extern string Symbol2 = "";
extern int TimeFrame=0;
extern int HzShift =0;
extern int mtfHzShift=0;
extern int VrtShift =0;
extern int maxbars =2000;
int ticket;
extern string TimeFrames = "M1;5,15,30,60H1;240H4;1440D1;10080W1;43200MN|0-CurrentTF";
double ExtMapBuffer1[];
double ExtMapBuffer2[];
double ExtMapBuffer3[];
double ExtMapBuffer4[];
double HeikenLowH1, HeikenHighH1,HeikenOpenH1,HeikenCloseH1;
double HeikenLowM5, HeikenHighM5,HeikenOpenM5,HeikenCloseM5;
double HeikenCloseH4_1,HeikenCloseH4_0;
double HeikenOpenH4_1,HeikenOpenH4_0;
double HeikenLowH1shift, HeikenHighH1shift,HeikenOpenH1shift,HeikenCloseH1shift;
double HeikenLowH4shift, HeikenHighH4shift;
double HeikenLowM5shift, HeikenHighM5shift,HeikenOpenM5shift,HeikenCloseM5shift;
double HeikenCloseH4_1shift,HeikenCloseH4_0shift;
double HeikenOpenH4_1shift,HeikenOpenH4_0shift;
string CurrShift;
//---- input parameters
extern string separator1 = "*** OSMA Settings ***";
extern int fastEMA = 12;
extern int slowEMA = 26;
extern int signal = 9;
extern string separator2 = "*** Indicator Settings ***";
extern bool drawDivergenceLines = true;
extern bool displayAlert = true;
//---- buffers
extern int period=10;
extern int price=0; // 0 or other = (H+L)/2
extern bool Mode_Fast= False;
extern bool Signals= False;
extern int MA1period=9, MA2period=45;
extern string TypeHelp="SMA- 0, EMA - 1, SMMA - 2, LWMA- 3";
extern string TypeHelp2="John Hyden settings TypeMA1=0, TypeMA2=3";
extern int TypeMA1=0;
extern int TypeMA2=3;
static int cc,cc1;
static string strH4Trend;
//+------------------------------------------------------------------+
//| Custom indicator initialization function |
//+------------------------------------------------------------------+
//---- buffers
double upOsMA[500];
double downOsMA[500];
double bullishDivergence[500];
double bearishDivergence[500];
double bullishDiverg[500];
double bearishDiverg[500];
static bool isBuy = false;
static bool isSell = false;
bool isBuySet, isSellSet;
double OsMA[500];
double upMA[500];
double downMA[500];
double bullishDivergenceMA[500];
double bearishDivergenceMA[500];
double point;
double bullishDivergenceMADeviation[500];
double bearishDivergenceMADeviation[500];
double MA[500];
double SLShort,SLLong, strTargetLong,strTargetShort,C0,C1,C2;
string Target,ask,SL,bid , strSell,strBuy;
extern bool Debug = false;
#define CHART_CMD_UPDATE_DATA 33324
//+------------------------------------------------------------------+
//| Custom indicator initialization function |
//+------------------------------------------------------------------+
int InternetAttemptConnect (int x);
int InternetOpenA(string sAgent, int lAccessType,
string sProxyName = "", string sProxyBypass = "",
int lFlags = 0);
int InternetOpenUrlA(int hInternetSession, string sUrl,
string sHeaders = "", int lHeadersLength = 0,
int lFlags = 0, int lContext = 0);
int InternetReadFile(int hFile, int& sBuffer[], int lNumBytesToRead,
int& lNumberOfBytesRead[]);
int InternetCloseHandle(int hInet);
#import
extern bool lines = true; // ïîêàçûâàòü âåðòèêàëüíûå ëèíèè â ìîìåíòû âûõîäà íîâîñòåé
extern bool texts = true; // ïîêàçûâàòü òåêñòîâûå íàäïèñè ñ îïèñàíèÿìè íîâîñòåé
extern bool comments = true; // ïîêàçûâàòü ñïèñîê áëèæàéøèõ áóäóùèõ è ïðîøåäøèõ íîâîñòåé
extern int total_in_list = 10; // êîëè÷åñòâî íîâîñòåé â ñïèñêå
extern bool high = true; // ïîêàçûâàòü âàæíûå íîâîñòè
extern bool medium = true; // ïîêàçûâàòü íîâîñòè ñðåäíåé âàæíîñòè
extern bool low = true; // ïîêàçûâàòü íîâîñòè ìàëîé âàæíîñòè
extern int update = 15; // îáíîâëÿòü ñïèñîê íîâîñòåé êàæäûå 15 ìèíóò
extern bool auto = true; // àâòî-âûáîð íîâîñòåé, ïîäõîäÿùèõ äëÿ âàëþòíîé ïàðû ãðàôèêà
extern bool eur = true; // ïîêàçûâàòü íîâîñòè äëÿ îïðåäåëåííûõ âàëþò
extern bool usd = true;
extern bool jpy = true;
extern bool gbp = true;
extern bool chf = true;
extern bool cad = true;
extern bool aud = true;
extern bool nzd = true;
extern color high_color = Maroon; // öâåò âàæíûõ íîâîñòåé
extern color medium_color = Sienna; // öâåò îáû÷íûõ íîâîñòåé
extern color low_color = DarkSlateGray; // öâåò íåçíà÷èòåëüíûõ íîâîñòåé
extern bool russian = true; // èñïîëüçîâàòü ôàéë ïåðåâîäà äëÿ ðóññèôèêàöèè íîâîñòåé
extern int server_timezone = 2; // ÷àñîâîé ïîÿñ ñåðâåðà (Alpary - GMT+2)
extern int show_timezone = 4; // ïîêàçûâàòü âðåìÿ äëÿ ÷àñîâîãî ïîÿñà (Ìîñêâà - GMT+4)
extern bool alerts = true; // ïðåäóïðåæäàòü î âûõîäå íîâîñòåé çâóêîâûìè ñèãíàëàìè
extern int alert_before = 5; // ïðåäóïðåæäàòü çà 5 ìèíóò äî âûõîäà íîâîñòåé
extern int alert_every = 30; // çâóêîâûå ñèãíàëû êàæäûå 30 ñåêóíä
datetime NextTime;
datetime TTime[1000];
// -----------------------------------------------------------------------------------------------------------------------------
int TotalNews = 0;
string News[1000][10];
datetime LastUpdate = 0;
int NextNewsLine = 0;
int LastAlert = 0;
string Translate[1000][2];
int TotalTranslate = 0;
static string str;
string Filter1 = "";
string Filter2 = "";
static datetime time;
static bool resume = false;
double LPeak, LTrough;
// -----------------------------------------------------------------------------------------------------------------------------
int init()
{
//---- indicators
// SetIndexStyle(0, DRAW_HISTOGRAM, STYLE_SOLID, 2);
// SetIndexStyle(1, DRAW_HISTOGRAM, STYLE_SOLID, 2);
SetIndexStyle(2, DRAW_ARROW);
SetIndexStyle(3, DRAW_ARROW);
SetIndexStyle(4, DRAW_NONE);
SetIndexStyle(5, DRAW_ARROW);
SetIndexStyle(6, DRAW_ARROW);
SetIndexStyle(7, DRAW_NONE);
// SetIndexStyle(8, DRAW_ARROW);
// SetIndexStyle(9, DRAW_ARROW);
//---- SetIndexStyle(3, DRAW_LINE, EMPTY, 2, Violet);
//SetIndexBuffer(0, upMA);
//SetIndexBuffer(1, downMA);
SetIndexBuffer(2, bullishDivergenceMA);
SetIndexBuffer(3, bearishDivergenceMA);
SetIndexBuffer(4, MA);
SetIndexBuffer(5, bullishDivergence);
SetIndexBuffer(6, bearishDivergence);
//SetIndexBuffer(7, OsMA);
// SetIndexBuffer(8, SELLMA);
// SetIndexBuffer(9, BUYMA);
//----
SetIndexArrow(0, 233);
SetIndexArrow(1, 234);
SetIndexArrow(5, 233);
SetIndexArrow(6, 234);
SetIndexArrow(8, 233);
SetIndexArrow(9, 234);
SetIndexArrow(10, 233);
SetIndexArrow(11, 234);
SetIndexArrow(15, 233);
SetIndexArrow(16, 234);
ObjectCreate("Symbol1",OBJ_LABEL,0,0,0,0,0);
ObjectCreate("Symbol2",OBJ_LABEL,0,0,0,0,0);
//----
//---- indicators
return(0);
}
//+------------------------------------------------------------------+
//| Custom indicator deinitialization function |
//+------------------------------------------------------------------+
int deinit()
{
for(int i = ObjectsTotal() - 1; i >= 0; i--)
{
string label = ObjectName(i);
if(StringSubstr(label, 0, 14) != "DivergenceLine")
continue;
ObjectDelete(label);
}
return(0);
}
//+------------------------------------------------------------------+
//| Custom indicator iteration function |
//+------------------------------------------------------------------+
int start()
{
string Symbol_1 = " ";
string Symbol_2 = "JOE CHALHOUB - Rpchost.com";
ObjectSetText("Symbol1",Symbol_1,"7","Arial Black",Lime);
ObjectSet("Symbol1",OBJPROP_XDISTANCE,3);
ObjectSet("Symbol1",OBJPROP_YDISTANCE,30);
ObjectSet("Symbol1",OBJPROP_COLOR,Blue);
ObjectSet("Symbol1",OBJPROP_CORNER,"111");
ObjectSetText("Symbol2",Symbol_2,"7","Arial Black",Lime);
ObjectSet("Symbol2",OBJPROP_XDISTANCE,3);
ObjectSet("Symbol2",OBJPROP_YDISTANCE,50);
ObjectSet("Symbol2",OBJPROP_COLOR,Red);
ObjectSet("Symbol2",OBJPROP_CORNER,"111");
if(Symbol() == "GBPUSD" || Symbol() == "EURUSD")
point = 0.0001;
if(Symbol() == "USDJPY")
point = 0.01;
int countedBars = IndicatorCounted();
if(countedBars < 0)
countedBars = 0;
countedBars = IndicatorCounted();
CalculateIndicator(countedBars);
//----
return(0);
}
//+------------------------------------------------------------------+
//| |
//+------------------------------------------------------------------+
//+------------------------------------------------------------------+
//| M5 Indicator |
//+------------------------------------------------------------------+
void CalculateIndicator(int countedBars)
{
for(int i = 2000; i >= 0; i--)
{
setSignals(i);
}
}
void setSignals(int shift)
{
//SSSS
if (shift < 2000)
{
setHeiken();
int iH0 = iBarShift(Symbol(),PERIOD_H1,iTime(Symbol(),PERIOD_M5,shift),false);
int iH1 = iBarShift(Symbol(),PERIOD_H1,iTime(Symbol(),PERIOD_M5,shift),false)+1;
int iH4 = iBarShift(Symbol(),PERIOD_H4,iTime(Symbol(),PERIOD_M5,shift),false);
HeikenCloseH1 = iCustom(NULL,PERIOD_H1,"Heiken Ashi",3,1);
HeikenOpenH1 = iCustom(NULL,PERIOD_H1,"Heiken Ashi",2,1);
HeikenCloseM5 = iCustom(NULL,PERIOD_H1,"Heiken Ashi",3,0);
HeikenOpenM5 = iCustom(NULL,PERIOD_H1,"Heiken Ashi",2,0);
HeikenCloseH4_0 = iCustom(NULL,PERIOD_H4,"Heiken Ashi",3,0);
HeikenOpenH4_0 = iCustom(NULL,PERIOD_H4,"Heiken Ashi",2,0);
HeikenCloseH1shift = iCustom(NULL,PERIOD_H1,"Heiken Ashi",3,iH1);
HeikenOpenH1shift = iCustom(NULL,PERIOD_H1,"Heiken Ashi",2,iH1);
HeikenCloseM5shift = iCustom(NULL,PERIOD_H1,"Heiken Ashi",3,iH0);
HeikenOpenM5shift = iCustom(NULL,PERIOD_H1,"Heiken Ashi",2,iH0);
HeikenCloseH4_0shift = iCustom(NULL,PERIOD_H4,"Heiken Ashi",3,iH4);
HeikenOpenH4_0shift = iCustom(NULL,PERIOD_H4,"Heiken Ashi",2,iH4);
HeikenCloseH4_1shift = iCustom(NULL,PERIOD_H4,"Heiken Ashi",3,iH4+1);
HeikenOpenH4_1shift = iCustom(NULL,PERIOD_H4,"Heiken Ashi",2,iH4+1);
if(HeikenCloseH1shift < HeikenOpenH1shift)
{
HeikenLowH1shift = iCustom(NULL,PERIOD_H1,"Heiken Ashi",1,iH1);
HeikenHighH1shift = iCustom(NULL,PERIOD_H1,"Heiken Ashi",0,iH1);
}
if(HeikenCloseH1shift > HeikenOpenH1shift)
{
HeikenLowH1shift = iCustom(NULL,PERIOD_H1,"Heiken Ashi",0,iH1);
HeikenHighH1shift = iCustom(NULL,PERIOD_H1,"Heiken Ashi",1,iH1);
}
if(HeikenCloseH4_1shift < HeikenOpenH4_1shift)
{
HeikenLowH4shift = iCustom(NULL,PERIOD_H4,"Heiken Ashi",1,iH4+1);
HeikenHighH4shift = iCustom(NULL,PERIOD_H4,"Heiken Ashi",0,iH4+1);
}
if(HeikenCloseH4_1shift > HeikenOpenH4_1shift)
{
HeikenLowH4shift = iCustom(NULL,PERIOD_H4,"Heiken Ashi",0,iH4+1);
HeikenHighH4shift = iCustom(NULL,PERIOD_H4,"Heiken Ashi",1,iH4+1);
}
if(isBuy == true && shift > 1)
{
DrawPriceTrendLine(Time[shift], Time[shift], Low[shift],High[shift], Green, STYLE_SOLID);
}
if((isBuy == true) && shift <= 1)
{
DrawPriceTrendLine(Time[1], Time[1], Low[1],High[1], Green, STYLE_SOLID);
DrawPriceTrendLine(Time[0], Time[0], Low[0],High[0], Green, STYLE_SOLID);
}
if(isSell == true && shift > 1 )
{
DrawPriceTrendLine(Time[shift], Time[shift], High[shift], High[shift], Red, STYLE_SOLID);
}
if((isSell == true) && shift <= 1 )
{
DrawPriceTrendLine(Time[1], Time[1], High[1], High[1], Red, STYLE_SOLID);
DrawPriceTrendLine(Time[0], Time[0], High[0], High[0], Red, STYLE_SOLID);
}
}
//CLOSE BUY
if(iClose(Symbol(),PERIOD_M5,shift+1) < HeikenLowH4shift)
{
isBuy = false;
}
//CLOSE SELL
if(iClose(Symbol(),PERIOD_M5,shift+1) > HeikenHighH4shift)
{
isSell = false;
}
H4Trend(shift);
//BUY
if( strH4Trend == "up" && iClose(Symbol(),PERIOD_M5,shift+1) < HeikenOpenH1shift && HeikenCloseH1shift > HeikenOpenH1shift)
{
isBuy = true;
isSell = false;
DrawPriceTrendLine(Time[shift+1], Time[shift+1], Low[shift+1],High[shift+1], Green, STYLE_SOLID);
}
//SELL
if(isBuy == false && strH4Trend == "down" && iClose(Symbol(),PERIOD_M5,shift+1) > HeikenOpenH1shift && HeikenCloseH1shift < HeikenOpenH1shift)
{
isBuy = false;
isSell = true;
DrawPriceTrendLine(Time[shift+1], Time[shift+1], High[shift+1], High[shift+1], Red, STYLE_DASHDOTDOT);
}
}
void DrawPriceTrendLine(datetime x1, datetime x2, double y1,
double y2, color lineColor, double style)
{
string label = "DivergenceLine2.1# " + DoubleToStr(x1, 0);
//ObjectDelete(label);
ObjectCreate(label, OBJ_ARROW, 0, x2, y1, x1, y2, 0, 0);
ObjectSet(label,OBJPROP_COLOR,lineColor);
ObjectSet(label,OBJPROP_SCALE,500);
ObjectSet(label,OBJPROP_RAY, true);
ObjectSet(label,OBJPROP_WIDTH,2);
if(lineColor == Red)
ObjectSet(label,OBJPROP_ARROWCODE,234);
if(lineColor == Green)
ObjectSet(label,OBJPROP_ARROWCODE,233);
}
void H4Trend(int shift)
{
int iH0 = iBarShift(Symbol(),PERIOD_H4,iTime(Symbol(),PERIOD_M5,shift),false);
HeikenCloseH4_1 = iCustom(NULL,PERIOD_H4,"Heiken Ashi",3,iH0+1);
HeikenOpenH4_1 = iCustom(NULL,PERIOD_H4,"Heiken Ashi",2,iH0+1);
HeikenCloseH4_0 = iCustom(NULL,PERIOD_H4,"Heiken Ashi",3,iH0);
HeikenOpenH4_0 = iCustom(NULL,PERIOD_H4,"Heiken Ashi",2,iH0);
if(iClose(Symbol(),PERIOD_M5,shift+1) < HeikenLowH4shift)
{
strH4Trend = "down";
}
else if(iClose(Symbol(),PERIOD_M5,shift+1) > HeikenHighH4shift)
{
strH4Trend = "up";
}
}
void setHeiken()
{
datetime TimeArray[];
ArrayCopySeries(TimeArray,MODE_TIME,Symbol(),TimeFrame);
int i, limit,y=0,counted_bars=IndicatorCounted();
if(counted_bars<0) return(-1);
if(counted_bars>0) counted_bars--;
limit= Bars-counted_bars;
limit= MathMax(limit,TimeFrame/Period());
limit=MathMin(limit,maxbars);
for(i=0,y=0;i<limit;i++)
{
if (Time[i]<TimeArray[y]) y++;
/***********************************************************
Add your main indicator loop below. You can add the full
indicator code or you can just reference an existing
indicator with its iValue or iCustom.
Rule 1: Add extern inputs above for all neccesary values
Rule 2: Use 'TimeFrame' for the indicator time frame
Rule 3: Use 'y' for your indicator's shift value
**********************************************************/
ExtMapBuffer1[i]=iCustom(NULL,TimeFrame,"Heiken Ashi",0,y)+VrtShift*Point;
ExtMapBuffer2[i]=iCustom(NULL,TimeFrame,"Heiken Ashi",1,y)+VrtShift*Point;
ExtMapBuffer3[i]=iCustom(NULL,TimeFrame,"Heiken Ashi",2,y)+VrtShift*Point;
ExtMapBuffer4[i]=iCustom(NULL,TimeFrame,"Heiken Ashi",3,y)+VrtShift*Point;
}
}
Comments