mikahekin-v1.1
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The "mikahekin" script is a technical analysis tool designed to provide visual cues on a trading chart by identifying specific price movements and trends. It works by analyzing historical price data—specifically the opening, closing, high, and low prices—over predetermined periods to generate signals that help traders understand market momentum.
How the Logic Works
The script operates through three distinct phases of calculation to determine what it displays on your screen:
1. Identification of Extremes (Highs and Lows) The tool first scans the price history to establish "boundaries." It looks back at a specific number of previous candles to identify the absolute highest price reached and the absolute lowest price reached during those windows. By capturing these extremes, the script creates a framework of the market's range rather than just looking at individual candle movements.
2. Multi-Point Averaging Once the highs and lows are established, the script calculates the average values for four key components over a slightly longer period:
- Average Open Prices
- Average Closing Prices
- Average Highs (based on the extremes found in step one)
- Average Lows (based on the extremes found in step one)
By using averages rather than raw prices, the tool smooths out "market noise," allowing the trader to see the underlying trend more clearly.
3. Signal Generation and Visualization The final logic determines what symbols appear on your chart based on the relationship between the Average Open and the Average Close:
- Bearish Sentiment: If the average opening price is higher than the average closing price, the script recognizes a downward movement. It then plots a specific marker (a red arrow) at the "High" average level.
- Bullish Sentiment: If the average opening price is lower than the average closing price, it recognizes an upward movement and plots a different marker (a blue arrow) at the "Low" average level.
- Neutrality: If there is no significant difference between the open and close averages, the script remains silent and does not produce an arrow.
Summary for the Trader
In simple terms, this tool looks for periods where the market is consistently moving in one direction over time. When it detects a trend, it places an arrow on the chart to highlight the "floor" or "ceiling" of that move. This helps traders visualize whether the current momentum is pushing prices higher or lower based on smoothed historical averages.
/*-----------------------------+
| |
| Shared by www.Aptrafx.com |
| |
+------------------------------*/
//+------------------------------------------------------------------+
//| mikahekin.mq4 |
//| Copyright 2004, MetaQuotes Software Corp. |
//| http://www.sasara |
//| Modified by: Ronald Verwer/ROVERCOM |
//| version 1.0.2 |
//+------------------------------------------------------------------+
#property copyright "Copyright 2004, MetaQuotes Software Corp."
#property link "http://www.metaquotes.net"
#property indicator_chart_window
#property indicator_buffers 4
#property indicator_color1 Silver//Violet
#property indicator_color2 Yellow//LawnGreen
#property indicator_color3 Red//Magenta
#property indicator_color4 Blue
#property indicator_width1 3
#property indicator_width2 3
#property indicator_width3 2
#property indicator_width4 2
//---- input parameters
extern int KPeriod=3;
extern int DPeriod=3;
extern int JPeriod=7;
double ind_buffer1[],
ind_buffer2[],
ind_buffer3[],
ind_buffer4[],
HighesBuffer[],
LowesBuffer[];
//+------------------------------------------------------------------+
//| expert initialization function |
//+------------------------------------------------------------------+
int init()
{
string short_name;
IndicatorBuffers(6);
SetIndexStyle(0,DRAW_HISTOGRAM, 0, 3);
SetIndexStyle(1,DRAW_HISTOGRAM, 0, 3);
SetIndexStyle(2,DRAW_ARROW, 0, 2);
SetIndexStyle(3,DRAW_ARROW, 0, 2);
SetIndexArrow(2,159);
SetIndexArrow(3,159);
//----
SetIndexDrawBegin(0,10);
SetIndexDrawBegin(1,10);
SetIndexDrawBegin(2,10);
SetIndexDrawBegin(3,10);
SetIndexDrawBegin(4,10);
SetIndexDrawBegin(5,10);
//---- indicator buffers mapping
SetIndexBuffer(0,ind_buffer1);
SetIndexBuffer(1,ind_buffer2);
SetIndexBuffer(2,ind_buffer3);
SetIndexBuffer(3,ind_buffer4);
SetIndexBuffer(4, HighesBuffer);
SetIndexBuffer(5, LowesBuffer);
//---- name for DataWindow and indicator subwindow label
IndicatorShortName("mikahekin");
SetIndexLabel(0,"Open");
SetIndexLabel(1,"Close");
SetIndexLabel(2,"High");
SetIndexLabel(3,"Low");
//----
return(0);
}
//+------------------------------------------------------------------+
//| expert deinitialization function |
//+------------------------------------------------------------------+
int start()
{
int i,k,j;
int counted_bars=IndicatorCounted();
double price;
//----
if(Bars<=10) return(0);
//---- initial zero
if(counted_bars<0) return (-1);
//---- minimums counting
i=Bars-KPeriod;
if(counted_bars>KPeriod) i=Bars-counted_bars-1;
while(i>=0)
{
double min=1000000;
k=i+KPeriod-1;
while(k>=i)
{
price=Low[k];
if(min>price) min=price;
k--;
}
LowesBuffer[i]=min;
i--;
}
//---- maximums counting
i=Bars-DPeriod;
if(counted_bars>DPeriod) i=Bars-counted_bars-1;
while(i>=0)
{
double max=-100000;
j=i+DPeriod-1;
while(j>=i)
{
price=High[j];
if(price>max) max=price;
j--;
}
HighesBuffer[i]=max;
i--;
}
//---- mikahekin calcaulation
i=Bars-JPeriod;
if(counted_bars>JPeriod) i=Bars-counted_bars-1;
while(i>=0)
{
double sumlow=0,
sumhigh=0,
sumopen=0,
sumclose=0,
close=0,
open=0,
high=0,
low=0;
for(k=(i+JPeriod-1);k>=i;k--)
{
sumclose+=Close[k];
sumlow+= LowesBuffer[k];
sumopen+=Open[k];
sumhigh+=HighesBuffer[k];
}
close=sumclose/JPeriod;
low= sumlow/JPeriod;
open=sumopen/JPeriod;
high=sumhigh/JPeriod;
ind_buffer1[i]=open;
ind_buffer2[i]=close;
if(open>close)
{
ind_buffer3[i]=high;
ind_buffer4[i]=EMPTY_VALUE;
}
else
{
if(open<close)
{
ind_buffer4[i]=low;
ind_buffer3[i]=EMPTY_VALUE;
}
else
{
ind_buffer3[i]=EMPTY_VALUE;
ind_buffer4[i]=EMPTY_VALUE;
}
}
i--;
}
//----
return(0);
}
//+------------------------------------------------------------------+
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