MTF_MARSI_v0.20_001
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This script is a Multi-Timeframe (MTF) technical analysis tool designed for the MetaTrader 4 platform. It provides traders with a comprehensive "at-a-glance" view of market momentum across six different timeframes simultaneously, without requiring the user to switch between separate charts.
Core Functionality
The indicator operates by calculating two primary types of data for each of the following timeframes: 1 Minute, 5 Minutes, 15 Minutes, 30 Minutes, 1 Hour (H1), and 4 Hours (H4).
- RSI (Relative Strength Index): It tracks the standard momentum of the price to identify overbought or oversold conditions.
- MARSI (Moving Average of RSI): It applies a "Smoothing" layer over the RSI data (using either a Simple or Exponential Moving Average). This helps filter out market noise and identifies the underlying trend of the momentum itself.
Visual Representation and Data Display
Rather than cluttering the main price chart, this script creates its own dedicated window at the bottom of your screen. It features the following visual elements:
- Dynamic Labels: The indicator automatically generates text labels that display the exact numerical values for both the RSI and the smoothed MARSI for all six timeframes.
- Color-Coded Logic: The tool uses a specific color logic to alert the user to extreme market conditions:
- Oversold (< 30): Values in this range are highlighted in Red, signaling that the market may be stretched to the downside.
- Overbought (> 70): Values in this range are highlighted in Green, signaling that the market may be stretched to the upside.
- Neutral Zone: Values between these levels use a customizable color (defaulting to Gold) to represent standard trading conditions.
- Visual Progress Bars: The script includes an optional "Bar" system that creates horizontal visual indicators for each timeframe. These bars act as progress trackers, helping you visualize how close the current momentum is to hitting significant support or resistance levels.
Key Technical Features for the User
- Multi-Timeframe Synchronization: The script performs the heavy lifting of "fetching" data from different timeframes (e.g., showing 4-Hour data while you are looking at a 1-Minute chart) and consolidating it into one view.
- Customizable Smoothing: Users can choose between two types of moving averages (SMA or EMA) to determine how the RSI momentum is smoothed.
- Adjustable Layout: The tool includes settings to adjust the font size, the visual position (Left or Right side) of the text labels, and the specific number of bars shown in the visual progress display.
In summary, this script acts as a momentum dashboard. It allows a trader to monitor the health of the market across various time horizons simultaneously, using color coding to quickly identify where the market is "overstretched" and providing smoothed data to help make more stable trading decisions.
Indicators Used
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MTF_MARSI_v0.20_001
//+------------------------------------------------------------------+
//| MTF_MARSI_v0.10.mq4 |
//| RL |
//| http:// |
//| 28.jul.2009 - add modeMA = EMA (1) |
//+------------------------------------------------------------------+
#property copyright "RL (okfar)"
#property link "http://"
#property indicator_separate_window
#property indicator_minimum 0
#property indicator_maximum 100
#property indicator_buffers 2
#property indicator_color1 Blue
#property indicator_color2 Gold
#property indicator_level1 30
#property indicator_level2 70
#property indicator_levelcolor DarkSlateGray
extern int RSIPeriod = 14;
extern int MARSIPeriod =8;
extern int ModeMA = MODE_EMA; //Avalible: 0-SMA, 1-EMA
extern int showBars =1;
extern int fontsize = 10;
extern int Side = 1;
extern int Y = 5;
extern int X = 5;
extern color maRsiCoolor = Gold;
extern color rsiCoolor = Blue;
extern color BarLabel_color = DarkGreen;
extern int minBars = 10;
int tf[] = {1, 5, 15, 30, 60, 240};
double rsi1[],
rsi5[],
rsi15[],
rsi30[],
rsi1H[],
rsi4H[];
double maRsi1[],
maRsi5[],
maRsi15[],
maRsi30[],
maRsi1H[],
maRsi4H[];
double dRsi[];
double dMaRsi[];
string ind;
int i, j;
int pperiod;
int limit[6];
int cBars[6],
pBars[6];
color ncol[6];
int pTime ;
//---- buffers
//+------------------------------------------------------------------+
//| Custom indicator initialization function |
//+------------------------------------------------------------------+
int init()
{
if (ModeMA == MODE_EMA && minBars < 2*MARSIPeriod )
minBars = 3*MARSIPeriod;
//---- indicators
IndicatorBuffers(8);
SetIndexStyle(0,DRAW_LINE, Blue);
SetIndexLabel( 0, "RSI"+Period());
SetIndexBuffer(0, dRsi);
SetIndexStyle(1,DRAW_LINE, Green);
SetIndexLabel( 1, "MARSI"+Period());
SetIndexBuffer(1, dMaRsi);
SetIndexBuffer(2, rsi1);
SetIndexBuffer(3, rsi5);
SetIndexBuffer(4, rsi15);
SetIndexBuffer(5, rsi30);
SetIndexBuffer(6, rsi1H);
SetIndexBuffer(7, rsi4H);
ind = StringConcatenate(WindowExpertName()," RSI (",RSIPeriod,") MARSI(",MARSIPeriod,")");
IndicatorShortName(ind);
ArraySetAsSeries(maRsi1, true);
ArraySetAsSeries(maRsi5, true);
ArraySetAsSeries(maRsi15, true);
ArraySetAsSeries(maRsi30,true);
ArraySetAsSeries(maRsi1H, true);
ArraySetAsSeries(maRsi4H, true);
//----
return(0);
}
//+------------------------------------------------------------------+
//| Custom indicator deinitialization function |
//+------------------------------------------------------------------+
int deinit()
{
//----
ObjectDelete("NumberRsi"+WindowFind(ind));
DeleteAllVObj();
//----
return(0);
}
//+------------------------------------------------------------------+
//| Custom indicator iteration function |
//+------------------------------------------------------------------+
int start()
{
//----
for (i=0; i<6; i++) {
cBars[i] = iBars(Symbol(), tf[i]);
if (pBars[i] <= 0)
limit[i] = cBars[i] - RSIPeriod - 1;
else
limit[i] = cBars[i] - pBars[i];
}
limit[0] = CheckArray(maRsi1, tf[0], limit[0], 0);
limit[1] = CheckArray(maRsi5, tf[1], limit[1], 1);
limit[2] = CheckArray(maRsi15, tf[2], limit[2], 2);
limit[3] = CheckArray(maRsi30, tf[3], limit[3], 3);
limit[4] = CheckArray(maRsi1H, tf[4], limit[4], 4);
limit[5] = CheckArray(maRsi4H, tf[5], limit[5], 5);
for (i=limit[0]+MARSIPeriod; i>=0; i--)
rsi1[i] = iRSI(Symbol(),tf[0],RSIPeriod,PRICE_CLOSE,i);
for (i=limit[1]+MARSIPeriod; i>=0; i--)
rsi5[i] = iRSI(Symbol(),tf[1],RSIPeriod,PRICE_CLOSE,i);
for (i=limit[2]+MARSIPeriod; i>=0; i--)
rsi15[i] = iRSI(Symbol(),tf[2],RSIPeriod,PRICE_CLOSE,i);
for (i=limit[3]+MARSIPeriod; i>=0; i--)
rsi30[i] = iRSI(Symbol(),tf[3],RSIPeriod,PRICE_CLOSE,i);
for (i=limit[4]+MARSIPeriod; i>=0; i--)
rsi1H[i] = iRSI(Symbol(),tf[4],RSIPeriod,PRICE_CLOSE,i);
for (i=limit[5]+MARSIPeriod; i>=0; i--)
rsi4H[i] = iRSI(Symbol(),tf[5],RSIPeriod,PRICE_CLOSE,i);
if (ModeMA == MODE_EMA) {
maRsi1[limit[0]] = iMAOA(maRsi1, rsi1, MARSIPeriod, MODE_SMA, limit[0]);
maRsi5[limit[1]] = iMAOA(maRsi5, rsi5, MARSIPeriod, MODE_SMA, limit[1]);
maRsi15[limit[2]] = iMAOA(maRsi15, rsi15, MARSIPeriod, MODE_SMA, limit[2]);
maRsi30[limit[3]] = iMAOA(maRsi30, rsi30, MARSIPeriod, MODE_SMA, limit[3]);
maRsi1H[limit[4]] = iMAOA(maRsi1H, rsi1H, MARSIPeriod, MODE_SMA, limit[4]);
maRsi4H[limit[5]] = iMAOA(maRsi4H, rsi4H, MARSIPeriod, MODE_SMA, limit[5]);
for (i=0; i<6; i++)
limit[i] --;
}
for (i=limit[0]; i>=0; i--)
maRsi1[i] = iMAOA(maRsi1, rsi1, MARSIPeriod, ModeMA, i);
for (i=limit[1]; i>=0; i--)
maRsi5[i] = iMAOA(maRsi5, rsi5, MARSIPeriod, ModeMA, i);
for (i=limit[2]; i>=0; i--)
maRsi15[i] = iMAOA(maRsi15, rsi15, MARSIPeriod, ModeMA, i);
for (i=limit[3]; i>=0; i--)
maRsi30[i] = iMAOA(maRsi30, rsi30, MARSIPeriod, ModeMA, i);
for (i=limit[4]; i>=0; i--)
maRsi1H[i] = iMAOA(maRsi1H, rsi1H, MARSIPeriod, ModeMA, i);
for (i=limit[5]; i>=0; i--)
maRsi4H[i] = iMAOA(maRsi4H, rsi4H, MARSIPeriod, ModeMA, i);
switch (Period()) {
case 1: {
if (pperiod != Period())
ArrayResize(maRsi1, cBars[0]);
for (i=cBars[0] - RSIPeriod; i>=0; i--)
maRsi1[i] = iMAOnArray(rsi1,0,MARSIPeriod,0,ModeMA,i);
ArrayCopy(dRsi, rsi1, 0, 0, WHOLE_ARRAY);
ArrayCopy(dMaRsi, maRsi1, 0, 0, WHOLE_ARRAY);
} break;
case 5: {
if (pperiod != Period())
ArrayResize(maRsi5, cBars[1]);
for (i=cBars[1] - RSIPeriod; i>=0; i--)
maRsi5[i] = iMAOnArray(rsi5,0,MARSIPeriod,0,ModeMA,i);
ArrayCopy(dRsi, rsi5, 0, 0, WHOLE_ARRAY);
ArrayCopy(dMaRsi, maRsi5, 0, 0, WHOLE_ARRAY);
} break;
case 15: {
if (pperiod != Period())
ArrayResize(maRsi15, cBars[2]);
for (i=cBars[2] - RSIPeriod; i>=0; i--)
maRsi15[i] = iMAOnArray(rsi15,0,MARSIPeriod,0,ModeMA,i);
ArrayCopy(dRsi, rsi15, 0, 0, WHOLE_ARRAY);
ArrayCopy(dMaRsi, maRsi15, 0, 0, WHOLE_ARRAY);
} break;
case 30: {
if (pperiod != Period())
ArrayResize(maRsi30, cBars[3]);
for (i=cBars[3] - RSIPeriod; i>=0; i--)
maRsi30[i] = iMAOnArray(rsi30,0,MARSIPeriod,0,ModeMA,i);
ArrayCopy(dRsi, rsi30, 0, 0);
ArrayCopy(dMaRsi, maRsi30, 0, 0);
} break;
case 60: {
if (pperiod != Period())
ArrayResize(maRsi1H, cBars[4]);
for (i=cBars[4] - RSIPeriod; i>=0; i--)
maRsi1H[i] = iMAOnArray(rsi1H,0,MARSIPeriod,0,ModeMA,i);
ArrayCopy(dRsi, rsi1H, 0, 0);
ArrayCopy(dMaRsi, maRsi1H, 0, 0);
} break;
case 240: {
if (pperiod != Period())
ArrayResize(maRsi4H, cBars[5]);
for (i=cBars[5] - RSIPeriod; i>=0; i--)
maRsi4H[i] = iMAOnArray(rsi4H,0,MARSIPeriod,0,ModeMA,i);
ArrayCopy(dRsi, rsi4H, 0, 0);
ArrayCopy(dMaRsi, maRsi4H, 0, 0);
} break;
default: {
ArrayInitialize(dRsi, EMPTY_VALUE);
ArrayInitialize(dMaRsi, EMPTY_VALUE);
} break;
}
for (i=0; i<6; i++)
pBars[i] = cBars[i];
pperiod = Period();
SetColor(maRsi1[0], -1, 0);
SetColor(maRsi5[0], maRsi1[0], 1);
SetColor(maRsi15[0], maRsi5[0], 2);
SetColor(maRsi30[0], maRsi15[0], 3);
SetColor(maRsi1H[0], maRsi30[0], 4);
SetColor(maRsi4H[0], maRsi1H[0], 5);
if (ObjectFind("NumberRsi"+WindowFind(ind)) < 0 ) {
if (Side == 1 || Side == 3)
Write("NumberRsi"+WindowFind(ind), Side, X+(12*fontsize/8), Y, "H4 H1 M30 M15 M5 M1", (fontsize+2), "Tahoma", BarLabel_color);
else
Write("NumberRsi"+WindowFind(ind), Side, X+(12*fontsize/8), Y, "M1 M5 M15 M30 H1 H4", fontsize+2, "Tahoma", BarLabel_color);
}
if (showBars == 1) {
//int wi = WindowBarsPerChart()/6;
int wi = WindowFirstVisibleBar()/6;
int ce = WindowFirstVisibleBar();
if (ObjectFind("bRSI4H"+WindowFind(ind)) > 0) {
ObjectMove("bRSI4H"+WindowFind(ind), 0 , Time[ce], 0);
ObjectMove("bRSI4H"+WindowFind(ind), 1 , Time[ce-wi], maRsi4H[0]);
ObjectMove("bRSI4H"+WindowFind(ind)+"1", 0 , Time[ce-wi/2], 0.9*maRsi4H[0]);
ObjectMove("bRSI1H"+WindowFind(ind), 0 , Time[ce-wi], 0);
ObjectMove("bRSI1H"+WindowFind(ind), 1 , Time[ce-2*wi], maRsi1H[0]);
ObjectMove("bRSI1H"+WindowFind(ind)+"1", 0 , Time[ce-wi*3/2], 0.9*maRsi1H[0]);
ObjectMove("bRSI30"+WindowFind(ind), 0 , Time[ce-2*wi], 0);
ObjectMove("bRSI30"+WindowFind(ind), 1 , Time[ce-3*wi], maRsi30[0]);
ObjectMove("bRSI30"+WindowFind(ind)+"1", 0 , Time[ce-wi*5/2], 0.9*maRsi30[0]);
ObjectMove("bRSI15"+WindowFind(ind), 0 , Time[ce-3*wi], 0);
ObjectMove("bRSI15"+WindowFind(ind), 1 , Time[ce-4*wi], maRsi15[0]);
ObjectMove("bRSI15"+WindowFind(ind)+"1", 0 , Time[ce-wi*7/2], 0.9*maRsi15[0]);
ObjectMove("bRSI5"+WindowFind(ind), 0 , Time[ce-4*wi], 0);
ObjectMove("bRSI5"+WindowFind(ind), 1 , Time[ce-5*wi], maRsi5[0]);
ObjectMove("bRSI5"+WindowFind(ind)+"1", 0 , Time[ce-wi*9/2], 0.9*maRsi5[0]);
ObjectMove("bRSI1"+WindowFind(ind), 0 , Time[ce-5*wi], 0);
ObjectMove("bRSI1"+WindowFind(ind), 1 , TimeCurrent(), maRsi1[0]);
ObjectMove("bRSI1"+WindowFind(ind)+"1", 0 , Time[ce-wi*11/2], 0.8*maRsi1[0]);
}
else
HBar("bRSI4H"+WindowFind(ind), Time[ce], maRsi4H[0], Time[ce-wi], "H4", 20, "Tahoma", C'53,73,93', ncol[5]);
HBar("bRSI1H"+WindowFind(ind), Time[ce-wi], maRsi1H[0], Time[ce-2*wi], "H1", 20, "Tahoma", C'53,63,83', ncol[4]);
HBar("bRSI30"+WindowFind(ind), Time[ce-2*wi], maRsi30[0], Time[ce-3*wi], "M30", 20, "Tahoma", C'50,53,63', ncol[3]);
HBar("bRSI15"+WindowFind(ind), Time[ce-3*wi], maRsi15[0], Time[ce-4*wi], "M15", 20, "Tahoma", C'40,43,43', ncol[2]);
HBar("bRSI5"+WindowFind(ind), Time[ce-4*wi], maRsi15[0], Time[ce-5*wi], "M5", 20, "Tahoma", C'30,33,36', ncol[1]);
HBar("bRSI1"+WindowFind(ind), Time[ce-5*wi], maRsi1[0], TimeCurrent(), "M1", 20, "Tahoma", C'25,28,31', ncol[0]);
}
if (ModeMA <= MODE_EMA && ModeMA >= 0) {
Write("maRSI1"+WindowFind(ind), Side, X+(5*fontsize/6) , Y+(10*fontsize/6), DoubleToStr(maRsi1[0], 2), fontsize, "Tahoma", ncol[0]);
Write("maRSI5"+WindowFind(ind), Side, X+(29*fontsize/6), Y+(10*fontsize/6), DoubleToStr(maRsi5[0], 2), fontsize, "Tahoma", ncol[1]);
Write("maRSI15"+WindowFind(ind), Side, X+(51*fontsize/6), Y+(10*fontsize/6), DoubleToStr(maRsi15[0], 2), fontsize, "Tahoma", ncol[2]);
Write("maRSI30"+WindowFind(ind), Side, X+(74*fontsize/6), Y+(10*fontsize/6), DoubleToStr(maRsi30[0], 2), fontsize, "Tahoma", ncol[3]);
Write("maRSI1H"+WindowFind(ind), Side, X+(97*fontsize/6), Y+(10*fontsize/6), DoubleToStr(maRsi1H[0], 2), fontsize, "Tahoma", ncol[4]);
Write("maRSI4H"+WindowFind(ind), Side, X+(120*fontsize/6), Y+(10*fontsize/6), DoubleToStr(maRsi4H[0], 2), fontsize, "Tahoma", ncol[5]);
Write("RSI1"+WindowFind(ind), Side, X+(5*fontsize/6) , Y+(18*fontsize/6), DoubleToStr(rsi1[0], 2), fontsize, "Tahoma", rsiCoolor);
Write("RSI5"+WindowFind(ind), Side, X+(29*fontsize/6), Y+(18*fontsize/6), DoubleToStr(rsi5[0], 2), fontsize, "Tahoma", rsiCoolor);
Write("RSI15"+WindowFind(ind), Side, X+(51*fontsize/6), Y+(18*fontsize/6), DoubleToStr(rsi15[0], 2), fontsize, "Tahoma", rsiCoolor);
Write("RSI30"+WindowFind(ind), Side, X+(74*fontsize/6), Y+(18*fontsize/6), DoubleToStr(rsi30[0], 2), fontsize, "Tahoma", rsiCoolor);
Write("RSI1H"+WindowFind(ind), Side, X+(97*fontsize/6), Y+(18*fontsize/6), DoubleToStr(rsi1H[0], 2), fontsize, "Tahoma", rsiCoolor);
Write("RSI4H"+WindowFind(ind), Side, X+(120*fontsize/6), Y+(18*fontsize/6), DoubleToStr(rsi4H[0], 2), fontsize, "Tahoma", rsiCoolor);
}
else
DeleteAllVObj();
//----
//----
return(0);
}
//+------------------------------------------------------------------+
void Write(string LBL, double Side, int X, int Y, string text, int fontsize, string fontname, color Tcolor)
{
if (ObjectFind(LBL) < 0) {
ObjectCreate(LBL, OBJ_LABEL, WindowFind(ind), 0 , 0);
ObjectSet(LBL, OBJPROP_CORNER, Side);
ObjectSet(LBL, OBJPROP_XDISTANCE, X);
ObjectSet(LBL, OBJPROP_YDISTANCE, Y);
}
ObjectSetText(LBL,text, fontsize, fontname, Tcolor);
}
void HBar(string LBL, datetime X, double h, datetime X1, string text, int fontsize, string fontname, color Tcolor, color T1color)
{
ObjectCreate(LBL, OBJ_RECTANGLE, WindowFind(ind), X , 0, X1, h);
ObjectSet(LBL, OBJPROP_COLOR, Tcolor);
ObjectCreate(LBL+"1", OBJ_TEXT, WindowFind(ind), (X+X1)/2 , 0.9*h);
ObjectSet(LBL+"1", OBJPROP_CORNER, 0);
ObjectSetText(LBL+"1",text, fontsize, fontname, T1color);
// ObjectSet(LBL+"1", OBJPROP_ANGLE, 90);
}
void DeleteAllVObj() {
ObjectDelete("maRSI1"+WindowFind(ind));
ObjectDelete("maRSI5"+WindowFind(ind));
ObjectDelete("maRSI15"+WindowFind(ind));
ObjectDelete("maRSI30"+WindowFind(ind));
ObjectDelete("maRSI1H"+WindowFind(ind));
ObjectDelete("maRSI4H"+WindowFind(ind));
ObjectDelete("RSI1"+WindowFind(ind));
ObjectDelete("RSI5"+WindowFind(ind));
ObjectDelete("RSI15"+WindowFind(ind));
ObjectDelete("RSI30"+WindowFind(ind));
ObjectDelete("RSI1H"+WindowFind(ind));
ObjectDelete("RSI4H"+WindowFind(ind));
if (ObjectFind("bRSI4H"+WindowFind(ind)) > 0) {
ObjectDelete("bRSI4H"+WindowFind(ind));
ObjectDelete("bRSI4H"+WindowFind(ind)+"1");
ObjectDelete("bRSI1H"+WindowFind(ind));
ObjectDelete("bRSI1H"+WindowFind(ind)+"1");
ObjectDelete("maRSI30"+WindowFind(ind));
ObjectDelete("maRSI30"+WindowFind(ind)+"1");
ObjectDelete("maRSI15"+WindowFind(ind));
ObjectDelete("maRSI15"+WindowFind(ind)+"1");
ObjectDelete("maRSI5"+WindowFind(ind));
ObjectDelete("maRSI5"+WindowFind(ind)+"1");
ObjectDelete("maRSI1"+WindowFind(ind));
ObjectDelete("maRSI1"+WindowFind(ind)+"1");
}
}
int CheckArray(double arr[], int tf, int n, int c)
{
if (Period() != tf && ArraySize(arr) != minBars+1) {
ArrayResize(arr, minBars+1);
return (minBars);
}
else if (Period() != tf) {
return (minBars);
}
else
return (n);
}
double iMAOA(double ma[], double a[],int per,int ModeMa,int sh)
{
int i;
double res = 0.0;
double k;
switch (ModeMa) {
case MODE_SMA: {
for (i=0+sh; i<per+sh;i++)
res += a[i];
return (res/per);
} break;
case MODE_EMA: {
k = 2.0/(per+1.0);
res = k*a[sh] + (1-k)*ma[sh+1];
return (res);
} break;
default:
return (EMPTY_VALUE);
break;
}
}
void SetColor(double mac, double mac1, int n)
{
if (mac < 30) {
ncol[n] = Red;
if (mac1 >= 0)
ncol[n-1] = Red;
}
else if (mac > 70) {
ncol[n] = Green;
if (mac1 >= 0)
ncol[n-1] = Green;
}
else
ncol[n] = maRsiCoolor;
}
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