This script is a custom technical analysis tool designed for the MetaTrader trading platform. Its primary purpose is to visualize price trends by plotting a Moving Average (MA) on a chart that dynamically changes color based on the direction of the market movement.
Core Functionality
The indicator calculates various types of Moving Averages—such as Simple (SMA), Exponential (EMA), Smooth (SMMA), Linear Weighted (LWMA), and Linear Regression (LSMA). By using these averages, the tool helps traders smooth out "market noise" to see the underlying trend more clearly.
Key Features
- Customizable Smoothing Methods: Users can choose between different mathematical models to calculate the average price. Each method reacts differently to price volatility, allowing for a balance between responsiveness and stability.
- Flexible Price Input: The script allows you to decide which specific price data point is used for the calculation. You can base the moving average on the closing price, opening price, highs, lows, or even various averages of these values (such as the median or typical price).
- Dynamic Color Coding: This is the visual hallmark of the script. Instead of a single static line, the indicator uses color to signal trend shifts:
- When the moving average is trending upward, the chart reflects a specific color (Green).
- When the moving average is trending downward, it switches to another color (Red).
- When the movement is flat or neutral, the secondary colors are hidden to maintain clarity.
How It Works for the User
The script continuously monitors the current price relative to its historical average over a user-defined period. As each new price candle forms, the tool compares the current moving average value to the previous one. If the current value is higher than the previous, it signals an upward momentum; if lower, it signals downward momentum.
By transforming a standard line into a color-changing visual aid, this script allows traders to identify trend reversals and market direction at a glance without having to manually interpret complex numerical data.
Indicators Used
Miscellaneous
13
Views
0
Downloads
0
Favorites
MA in Color_wAppliedPrice_v1
/*-----------------------------+
| |
| Shared by www.Aptrafx.com |
| |
+------------------------------*/
//+------------------------------------------------------------------+
//| MA_In_Color_wAppliedPrice.mq4 |
//| Copyright © 2004, MetaQuotes Software Corp. |
//| Modified from LSMA_In_Color to use any MA by Robert Hill |
//| Added use of Applied Price 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;
extern int MAAppliedPrice = 0;//0=close, 1=open, 2=high, 3=low, 4=median(high+low)/2, 5=typical(high+low+close)/3, 6=weighted(high+low+close+close)/4
//---- 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);
}
//+------------------------------------------------------------------+
//| LSMA with PriceMode |
//| PrMode 0=close, 1=open, 2=high, 3=low, 4=median(high+low)/2, |
//| 5=typical(high+low+close)/3, 6=weighted(high+low+close+close)/4 |
//+------------------------------------------------------------------+
double LSMA(int Rperiod, int prMode, int shift)
{
int i;
double sum, pr;
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;
switch (prMode)
{
case 0: pr = Close[length-i+shift];break;
case 1: pr = Open[length-i+shift];break;
case 2: pr = High[length-i+shift];break;
case 3: pr = Low[length-i+shift];break;
case 4: pr = (High[length-i+shift] + Low[length-i+shift])/2;break;
case 5: pr = (High[length-i+shift] + Low[length-i+shift] + Close[length-i+shift])/3;break;
case 6: pr = (High[length-i+shift] + Low[length-i+shift] + Close[length-i+shift] + Close[length-i+shift])/4;break;
}
tmp = ( i - lengthvar)*pr;
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, MAAppliedPrice,i);
MA_Prev = LSMA(MAPeriod, MAAppliedPrice,i+1);
}
else
{
MA_Cur = iMA(NULL,0,MAPeriod,0,MAMode, MAAppliedPrice,i);
MA_Prev = iMA(NULL,0,MAPeriod,0,MAMode, MAAppliedPrice,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