MA in Color_34
Download script
This script is designed to provide a visual trend analysis for traders by creating a dynamic, color-coded Moving Average (MA) line on a trading chart. Unlike standard moving averages that appear as a single solid color, this tool uses color shifts to give you an immediate visual cue regarding the direction of price momentum.
Core Functionality
The primary goal of the script is to monitor the "flow" of a moving average. It calculates the position of the moving average based on your preferred settings—such as the period (the lookback timeframe) and the specific type of calculation (Simple, Exponential, Smoothed, Linear Weighted, or Least Squares).
How the Logic Works
The script operates by constantly comparing the current value of the moving average against its previous value. By analyzing these two points in time, it determines the direction of the trend and updates the chart accordingly:
- Trend Identification: The script looks at whether the current average price is higher or lower than the price immediately preceding it.
- Dynamic Color Coding:
- When the moving average moves upward (indicating a bullish trend), the script activates a specific color to highlight this growth.
- When the moving average moves downward (indicating a bearish trend), the script switches the display to a different color to signal the decline.
- If the moving average remains flat or neutral, it minimizes the visual output to avoid cluttering the chart with unnecessary data.
Key Features for the User
- Customizable Calculations: You can choose between several different mathematical models for the moving average (SMA, EMA, SMMA, LWMA, and LSMA) to suit different trading styles.
- Visual Clarity: By using color as a primary indicator, the script reduces the need for constant manual interpretation of price action. It allows you to see at a glance whether the trend is gaining or losing momentum without needing to perform complex calculations yourself.
- Seamless Integration: The tool is designed to plot directly on your main chart window, ensuring that the trend data is always visible alongside the live price candles.
Indicators Used
Miscellaneous
14
Views
0
Downloads
0
Favorites
MA in Color_34
//+------------------------------------------------------------------+
//| MA_In_Color.mq4 |
//| Copyright © 2004, MetaQuotes Software Corp. |
//| Modified from LSMA_In_Color to use any MA by Robert Hill |
//+------------------------------------------------------------------+
#property copyright "Copyright © 2006, FX Sniper and Robert Hill"
#property link "http://www.metaquotes.net/"
//---- indicator settings
#property indicator_chart_window
#property indicator_buffers 3
#property indicator_color1 Yellow
#property indicator_color2 Green
#property indicator_color3 Red
extern int MAPeriod=34;
extern int MAType=1;
//---- buffers
double ExtMapBuffer1[];
double ExtMapBuffer2[];
double ExtMapBuffer3[];
//---- variables
int MAMode;
string strMAType;
//+------------------------------------------------------------------+
//| Custom indicator initialization function |
//+------------------------------------------------------------------+
int init()
{
IndicatorBuffers(3);
//---- drawing settings
SetIndexBuffer(2,ExtMapBuffer1);
SetIndexBuffer(1,ExtMapBuffer2);
SetIndexBuffer(0,ExtMapBuffer3);
SetIndexStyle(2,DRAW_LINE,STYLE_SOLID,2);
SetIndexStyle(1,DRAW_LINE,STYLE_SOLID,2);
SetIndexStyle(0,DRAW_LINE,STYLE_SOLID,2);
switch (MAType)
{
case 1: strMAType="EMA"; MAMode=MODE_EMA; break;
case 2: strMAType="SMMA"; MAMode=MODE_SMMA; break;
case 3: strMAType="LWMA"; MAMode=MODE_LWMA; break;
case 4: strMAType="LSMA"; break;
default: strMAType="SMA"; MAMode=MODE_SMA; break;
}
IndicatorShortName( strMAType+ " (" +MAPeriod + ") ");
//---- initialization done
return(0);
}
double LSMA(int Rperiod, int shift)
{
int i;
double sum;
int length;
double lengthvar;
double tmp;
double wt;
length = Rperiod;
sum = 0;
for(i = length; i >= 1 ; i--)
{
lengthvar = length + 1;
lengthvar /= 3;
tmp = 0;
tmp = ( i - lengthvar)*Close[length-i+shift];
sum+=tmp;
}
wt = sum*6/(length*(length+1));
return(wt);
}
int start()
{
double MA_Cur, MA_Prev;
int limit;
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;
for(int i=limit; i>=0; i--)
{
if (MAType == 4)
{
MA_Cur = LSMA(MAPeriod,i);
MA_Prev = LSMA(MAPeriod,i+1);
}
else
{
MA_Cur = iMA(NULL,0,MAPeriod,0,MAMode,PRICE_CLOSE,i);
MA_Prev = iMA(NULL,0,MAPeriod,0,MAMode,PRICE_CLOSE,i+1);
}
//========== COLOR CODING ===========================================
ExtMapBuffer3[i] = MA_Cur; //red
ExtMapBuffer2[i] = MA_Cur; //green
ExtMapBuffer1[i] = MA_Cur; //yellow
if (MA_Prev > MA_Cur)
{
ExtMapBuffer2[i] = EMPTY_VALUE;
}
else if (MA_Prev < MA_Cur)
{
ExtMapBuffer1[i] = EMPTY_VALUE; //-1 red/greem tight
}
else
{
ExtMapBuffer1[i]=EMPTY_VALUE;//EMPTY_VALUE;
ExtMapBuffer2[i]=EMPTY_VALUE;//EMPTY_VALUE;
}
}
return(0);
}
//+------------------------------------------------------------------+
Comments