MaksiGen_Range_MoveAlert
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Overview of the Range Move Alert System
The Range Move Alert is a technical analysis tool designed to help traders identify specific market structures and potential breakout points. It works by monitoring price fluctuations over two different time horizons (short-term and long-term) to detect moments where the market creates a consistent, repeating range. When these conditions are met, the tool automatically calculates potential entry levels and provides real-time notifications.
How the Logic Works
1. Multi-Horizon Scanning The script constantly scans the price history using two different settings: a "Fast" lookback period and a "Slow" lookback period. By comparing these two windows, the tool can distinguish between immediate price noise and more established market structures.
2. Range Identification and Consistency Check The core intelligence of this script lies in its ability to identify symmetry. It calculates the height of the price range for both the Fast and Slow periods. The tool is specifically looking for a "consistent expansion":
- If the price range of the short-term window is equal to the price range of the long-term window, the logic considers this a significant structural signal.
3. Dynamic Projection (Breakout Levels) Once the script identifies this consistent range, it calculates potential "Buy Stop" and "Sell Stop" levels. It takes the current short-term high and low points and projects them outward based on a user-defined multiplier (the Range Open).
- Buy Projections: Calculated above the current high.
- Sell Projections: Calculated below the current low.
4. Visual Mapping To help the trader visualize these calculations in real-time, the script draws several dynamic elements on the chart:
- Reference Lines: Horizontal lines mark the highs and lows of both the fast and slow periods.
- Vertical Markers: These identify exactly where the "Fast" and "Slow" data windows begin, allowing you to see the timeframe being analyzed at a glance.
- Trend Lines: The script connects the highs and lows of the two different periods to show the current trajectory of the price action.
- Target Levels: It draws specific Red (Sell) and Blue (Buy) lines at the calculated breakout points.
5. Real-Time Alerts The script is designed to keep the trader informed without constant manual monitoring. It tracks the movement of the calculated Buy and Sell levels. Whenever these levels shift or update due to new price data, the tool can trigger a sound or pop-up alert (depending on your settings). This ensures you are notified immediately when the market structure shifts or a new potential entry point is established.
Summary for the Trader
Essentially, this tool filters out minor market movements to find moments of structural symmetry. When it finds a "matching" range between short-term and long-term price action, it draws you a map of where the next major breakout is likely to occur and alerts you the moment those target levels are updated.
//+------------------------------------------------------------------+
//| aksiGen_Range_MoveAlert.mq4 |
//| MaksiGen - MT3 by OlegVS ( olegvs2003@yahoo.com ) |
//| |
//+------------------------------------------------------------------+
#property copyright "MaksiGen - MT3 by OlegVS ( olegvs2003@yahoo.com )"
#property link ""
#property indicator_chart_window
//---- input parameters
extern int Pfast=5;
extern int Pslow=8;
extern double K_RangeOpen=1.4;
extern int SoundAlertMode=0;
double hi1,lo1,hi2,lo2,Range,BuyStop,SellStop,BuyStopprev,SellStopprev;
//+------------------------------------------------------------------+
//| Custom indicator initialization function |
//+------------------------------------------------------------------+
int init()
{
//---- Object
ObjectCreate("hi1",OBJ_HLINE,0,0,0,0,0,0,0); ObjectSet("hi1",OBJPROP_COLOR,Silver); ObjectSet("hi1",OBJPROP_STYLE,STYLE_DOT);
ObjectCreate("lo1",OBJ_HLINE,0,0,0,0,0,0,0); ObjectSet("lo1",OBJPROP_COLOR,Silver); ObjectSet("lo1",OBJPROP_STYLE,STYLE_DOT);
ObjectCreate("hi2",OBJ_HLINE,0,0,0,0,0,0,0); ObjectSet("hi2",OBJPROP_COLOR,Silver); ObjectSet("hi2",OBJPROP_STYLE,STYLE_DASH);
ObjectCreate("lo2",OBJ_HLINE,0,0,0,0,0,0,0); ObjectSet("lo2",OBJPROP_COLOR,Silver); ObjectSet("lo2",OBJPROP_STYLE,STYLE_DASH);
ObjectCreate("Bar#1", OBJ_VLINE,0,0,0,0,0,0,0); ObjectSet("Bar#1", OBJPROP_COLOR,OliveDrab); ObjectSet("Bar#1", OBJPROP_STYLE,STYLE_DOT);
ObjectCreate("Bar#Pfast",OBJ_VLINE,0,0,0,0,0,0,0); ObjectSet("Bar#Pfast",OBJPROP_COLOR,LightSkyBlue); ObjectSet("Bar#Pfast",OBJPROP_STYLE,STYLE_DOT);
ObjectCreate("Bar#Pslow",OBJ_VLINE,0,0,0,0,0,0,0); ObjectSet("Bar#Pslow",OBJPROP_COLOR,Blue); ObjectSet("Bar#Pslow",OBJPROP_STYLE,STYLE_DOT);
ObjectCreate("TrendHIGH",OBJ_TREND,0,0,0,0,0,0); ObjectSet("TrendHIGH",OBJPROP_COLOR,Gold); ObjectSet("TrendHIGH",OBJPROP_STYLE,STYLE_SOLID);
ObjectCreate("Trend_LOW",OBJ_TREND,0,0,0,0,0,0); ObjectSet("Trend_LOW",OBJPROP_COLOR,Gold); ObjectSet("Trend_LOW",OBJPROP_STYLE,STYLE_SOLID);
ObjectCreate("SELLSTOP",OBJ_HLINE,0,0,0,0,0,0,0); ObjectSet("SELLSTOP",OBJPROP_COLOR,Red); ObjectSet("SELLSTOP",OBJPROP_STYLE,STYLE_DOT);
ObjectCreate("BUY_STOP",OBJ_HLINE,0,0,0,0,0,0,0); ObjectSet("BUY_STOP",OBJPROP_COLOR,Blue); ObjectSet("BUY_STOP",OBJPROP_STYLE,STYLE_DOT);
//----
return(0);
}
//+------------------------------------------------------------------+
//| Custor indicator deinitialization function |
//+------------------------------------------------------------------+
int deinit()
{
//----
ObjectDelete("hi1"); ObjectDelete("lo1");
ObjectDelete("hi2"); ObjectDelete("lo2");
ObjectDelete("Bar#1"); ObjectDelete("Bar#Pfast"); ObjectDelete("Bar#Pslow");
ObjectDelete("TrendHIGH"); ObjectDelete("Trend_LOW");
ObjectDelete("SELLSTOP"); ObjectDelete("BUY_STOP");
//----
return(0);
}
//+------------------------------------------------------------------+
//| Custom indicator iteration function |
//+------------------------------------------------------------------+
int start()
{
//----
hi1=High[Highest(Symbol(),0,MODE_HIGH,Pfast,1)];
lo1=Low[Lowest(Symbol(),0,MODE_LOW,Pfast,1)];
hi2=High[Highest(Symbol(),0,MODE_HIGH,Pslow,1)];
lo2=Low[Lowest(Symbol(),0,MODE_LOW,Pslow,1)];
//---- horizontal lines
ObjectMove("hi1",0,Time[Pfast-1],hi1);
ObjectMove("lo1",0,Time[Pfast-1],lo1);
ObjectMove("hi2",0,Time[Pslow-1],hi2);
ObjectMove("lo2",0,Time[Pslow-1],lo2);
//---- vertical lines
ObjectMove("Bar#1", 0,Time[1], High[1]);
ObjectMove("Bar#Pfast",0,Time[Pfast],High[1]);
ObjectMove("Bar#Pslow",0,Time[Pslow],High[1]);
//---- trend lines
ObjectSet("TrendHIGH",OBJPROP_TIME1,Time[Pslow]); ObjectSet("TrendHIGH",OBJPROP_PRICE1,hi2);
ObjectSet("TrendHIGH",OBJPROP_TIME2,Time[Pfast]); ObjectSet("TrendHIGH",OBJPROP_PRICE2,hi1);
ObjectSet("Trend_LOW",OBJPROP_TIME1,Time[Pslow]); ObjectSet("Trend_LOW",OBJPROP_PRICE1,lo2);
ObjectSet("Trend_LOW",OBJPROP_TIME2,Time[Pfast]); ObjectSet("Trend_LOW",OBJPROP_PRICE2,lo1);
BuyStop =BuyStopprev;
SellStop=SellStopprev;
if (hi1-lo1==hi2-lo2)
{
Range=(hi1-lo1)*K_RangeOpen;
double BuyStop = hi1+Range;
double SellStop = lo1-Range;
ObjectMove("SELLSTOP",0,Time[Pfast-1],SellStop);
ObjectMove("BUY_STOP",0,Time[Pfast-1],BuyStop);
ObjectSet("TrendHIGH",OBJPROP_TIME1,Time[Pslow-1]); ObjectSet("TrendHIGH",OBJPROP_PRICE1,hi2);
ObjectSet("TrendHIGH",OBJPROP_TIME2,Time[Pfast-1]); ObjectSet("TrendHIGH",OBJPROP_PRICE2,hi1);
ObjectSet("Trend_LOW",OBJPROP_TIME1,Time[Pslow]-1); ObjectSet("Trend_LOW",OBJPROP_PRICE1,lo2);
ObjectSet("Trend_LOW",OBJPROP_TIME2,Time[Pfast]-1); ObjectSet("Trend_LOW",OBJPROP_PRICE2,lo1);
}
ObjectsRedraw();
//Print (" BuySTOP=",BuyStop," BuyStopprev=",BuyStopprev);
//Print (" SellStop=",SellStop," SellStopprev=",SellStopprev);
if ( BuyStopprev != BuyStop )
{
string Message = " "+Symbol()+" M"+Period()+": BUYSTOP is changed";
if ( SoundAlertMode>0 ) Alert (Message);
}
if ( SellStopprev != SellStop)
{
Message = " "+Symbol()+" M"+Period()+": SELLSTOP is changed";
if ( SoundAlertMode>0 ) Alert (Message);
}
BuyStopprev =BuyStop;
SellStopprev=SellStop;
return(0);
}
//+------------------------------------------------------------------+
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