JuiceDelta
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The Juice indicator is a specialized technical analysis tool designed to help traders visualize momentum and volatility shifts in the financial markets. It operates in its own separate window below the main price chart, providing a clear visual representation of market "velocity" through a dual-colored histogram.
How the Logic Works
At its core, the indicator calculates the difference in market volatility over a specific set of timeframes (defined by the Period setting). Rather than looking at the raw price, it analyzes the change between consecutive standard deviation values—a measure of how much the market is fluctuating compared to its average.
1. Calculating Market Momentum The script looks at the current volatility and subtracts the previous period's volatility. This gives us a "net movement" value:
- If the result is positive, it indicates upward momentum or an increase in active volatility.
- If the result is negative, it indicates downward momentum or a decrease in active volatility.
2. The Visual Histogram The logic then splits these results into two distinct visual categories to make reading the chart easier:
- Lime Green Histograms: These appear when the calculated momentum is positive. They represent instances where the market's "energy" is moving upward or expanding in a bullish direction.
- FireBrick Histograms: These appear when the momentum is negative, representing bearish pressure or a downward contraction in market movement.
Dynamic Adjustments
To ensure accuracy across different financial instruments, the indicator includes "smart" logic that automatically adjusts its sensitivity based on the currency pair being traded. For example, it recognizes specific pairs like USDJPY, EURJPY, and GBPJPY and automatically recalibrates its internal thresholds to match the unique price behavior of those markets.
Summary for Traders
By observing the Juice indicator, traders can quickly identify whether the current market sentiment is leaning bullish (Green) or bearish (Red). Because it focuses on the change in volatility rather than just the price itself, it helps highlight the underlying strength or weakness of a trend before it becomes obvious on a standard price chart.
//+------------------------------------------------------------------+
//| Juice.mq4 |
//| Perky_z |
//| http://fxovereasy.atspace.com/index |
//+------------------------------------------------------------------+
#property copyright "perky"
#property link "http://fxovereasy.atspace.com/index"
//---- indicator settings
#property indicator_separate_window
#property indicator_buffers 2
#property indicator_color1 LimeGreen
#property indicator_color2 FireBrick
//---- indicator parameters
extern int Periyod=7;
extern double Level=0.0007;
//---- indicator buffers
double OsMAUpBuffer[];
double OsMADownBuffer[];
double OsMABuffer[];
double MACDBuffer[];
double SignalBuffer[];
//+------------------------------------------------------------------+
//| Custom indicator initialization function |
//+------------------------------------------------------------------+
int init()
{
//---- 2 additional buffers are used for counting.
IndicatorBuffers(5);
//---- drawing settings
SetIndexStyle(0,DRAW_HISTOGRAM,STYLE_SOLID,2);
SetIndexStyle(1,DRAW_HISTOGRAM,STYLE_SOLID,1);
SetIndexDrawBegin(0,Level);
IndicatorDigits(MarketInfo(Symbol(),MODE_DIGITS)+2);
//---- 3 indicator buffers mapping
if(!SetIndexBuffer(0,OsMAUpBuffer) &&
!SetIndexBuffer(1,OsMADownBuffer) &&
!SetIndexBuffer(2,OsMABuffer) &&
!SetIndexBuffer(3,MACDBuffer) &&
!SetIndexBuffer(4,SignalBuffer))
Print("cannot set indicator buffers!");
//---- name for DataWindow and indicator subwindow label
IndicatorShortName("Juice("+Periyod+","+Level+")");
//---- initialization done
return(0);
}
//+------------------------------------------------------------------+
//| Moving Average of Oscillator |
//+------------------------------------------------------------------+
int start()
{
//if ( Period != 15) Alert ("Juice Is Recommended for 15 Min Chart only!!");
if (Symbol()=="USDJPY") Level=0.040;
if (Symbol()=="EURJPY") Level=0.040;
if (Symbol()=="GBPJPY") Level=0.040;
int limit,i;
int counted_bars=IndicatorCounted();
//---- check for possible errors
if(counted_bars<0) return(-1);
//---- last counted bar will be recounted
if(counted_bars>0) counted_bars--;
limit=Bars-counted_bars;
if (Level== 0.0004 && Period()==5 ) Level=0.0002;
//---- main loop
for(i=0; i<limit; i++){
OsMABuffer[i]=(iStdDev (NULL,0,Periyod,MODE_EMA,0,PRICE_CLOSE,i))-(iStdDev (NULL,0,Periyod,MODE_EMA,0,PRICE_CLOSE,i+1));
if(OsMABuffer[i]>0){
OsMAUpBuffer[i]=OsMABuffer[i];
OsMADownBuffer[i]=0;
}else if(OsMABuffer[i]<0){
OsMADownBuffer[i]=OsMABuffer[i];
OsMAUpBuffer[i]=0;
}else{
OsMAUpBuffer[i]=0;
OsMADownBuffer[i]=0;
}
}
//---- done
return(0);
}
//+------------------------------------------------------------------+
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