MA in Color_v3
Download script
This tool is a visual trading indicator designed to help traders identify momentum shifts by adding dynamic color coding to Moving Averages (MA) on a price chart. Instead of just providing a static line, it uses color changes to highlight the direction of the trend in real-time.
Core Functionality
The primary purpose of this script is to make it easier for a trader to see whether a trend is moving upward or downward at a single glance. It achieves this by analyzing two consecutive data points of a chosen Moving Average and assigning specific colors based on their relationship:
- Green: Indicates that the current value is higher than the previous value, signaling an upward price movement or bullish momentum.
- Red: Indicates that the current value is lower than the previous value, signaling a downward price movement or bearish momentum.
- Yellow: Acts as a secondary visual layer to help define the transition between these movements.
Customization Options
The script allows users to tailor the technical behavior of the indicator through several customizable settings:
- Moving Average Type: You can choose between different mathematical methods to calculate the average price, including Simple (SMA), Exponential (EMA), Smoothed (SMMA), Linear Weighted (LWMA), and Least Squares (LSMA).
- Time Period: Users can define the "Period," which determines how many past candles are used to calculate the average. A higher number makes the line smoother but slower to react, while a lower number makes it more sensitive to recent price fluctuations.
How It Works Internally
When the chart loads, the script scans the price history and performs a step-by-step calculation for every candle:
- Calculation: It determines the value of the Moving Average for the current moment and compares it to the value from the immediately preceding moment.
- Comparison Logic:
- If the current average is higher than the previous one, the script "turns on" the green visual line.
- If the current average is lower than the previous one, it "turns on" the red visual line.
- If there is no change between the two values, the colors are suppressed to prevent confusing visual noise.
- Dynamic Rendering: Because the script updates with every new price tick, the colors on the chart change dynamically as the market moves, providing a live "heat map" of the current trend direction.
Indicators Used
Miscellaneous
13
Views
0
Downloads
0
Favorites
MA in Color_v3
//+------------------------------------------------------------------+
//| 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=14;
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