MTF_Stochastic_v2.0_Iya_bz

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MTF_Stochastic_v2.0_Iya_bz

This script is designed for the MetaTrader platform to provide a specialized version of the Stochastic Oscillator. Its primary purpose is to allow traders to view the Stochastic indicator from different timeframes (e.g., viewing Hourly data while looking at a 5-minute chart) without manually switching charts.

Multi-Timeframe Integration

The core logic of this tool is its ability to "pull" data from higher or lower timeframes onto your current screen. While a standard Stochastic indicator only shows the movement based on the candles you see in front of you, this script allows you to select a specific timeframe (like Daily or Weekly) and display its momentum levels directly over your current price action.

Key Logic Components:

  • Timeframe Selection and Synchronization: The script identifies the difference between your active chart and the chosen "target" timeframe. It performs a mathematical conversion to ensure that the data points align correctly with the current time on your screen, regardless of how different the two periods are.

  • Linear Interpolation (Smoothing): One common issue when viewing high-timeframe data (like a Daily candle) on a low-timeframe chart (like a 1-minute chart) is that the data can look "blocky" or "stepped" because one large candle covers many small ones. To solve this, the script uses linear interpolation. It calculates the transition between two higher-timeframe points and draws a smooth, continuous line connecting them, making the movement much easier to read visually.

  • Dynamic Handling for Specific Timeframes: The script includes specific logic to handle non-standard intervals (like 10-minute, 2-hour, or 8-hour charts). It calculates these by mathematically deriving them from standard periods to ensure accuracy in the visual output.

  • Real-Time Data Visualization: The tool distinguishes between "closed" data and "live" data:

    • It tracks completed candles to show historical momentum.
    • It specifically tracks the "current candle," allowing you to see the live fluctuations of the Stochastic line as the price moves in real-time.

  • On-Screen Countdown Clock: To help traders coordinate their entries with the higher timeframe, the script includes a visual countdown clock. This tells you exactly how much time remains until the next candle closes on your chosen "target" timeframe. It dynamically updates this text on the chart, showing the minutes and seconds remaining.

Summary for the User

In simple terms, this tool removes the need to jump back and forth between different charts to see "the big picture." It takes high-level market momentum (Stochastic), smooths it out so it doesn't look jagged on your current chart, and provides a live countdown so you can stay perfectly synced with the higher timeframe's timing.

Indicators Used
Stochastic oscillator
Miscellaneous
Implements a curve of type %1
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MTF_Stochastic_v2.0_Iya_bz 
//+------------------------------------------------------------------+
//|                                               MTF Stochastic.mq4 |
//|													2007, Christof Risch (iya)	|
//| Stochastic indicator from any timeframe.									|
//+------------------------------------------------------------------+
//mod banzai
#property link "http://www.forexfactory.com/showthread.php?t=30109"
#property indicator_separate_window
#property indicator_buffers	4
#property indicator_color1		Red	// %K line
#property indicator_color2		CLR_NONE				// %D line
#property indicator_color3		LightPink		// %K line of the current candle
#property indicator_color4		CLR_NONE		// %D line of the current candle
#property indicator_maximum	100
#property indicator_minimum	0

//---- input parameters
extern string note1 = "Chart Time Frame";
extern string note2 = "0=current time frame";
extern string note3 = "1=M1, 5=M5, 15=M15, 30=M30";
extern string note4 = "60=H1, 240=H4, 1440=D1";
extern string note5 = "10080=W1, 43200=MN1";
extern int	TimeFrame	= 0;		// {1=M1, 5=M5, 15=M15, ..., 1440=D1, 10080=W1, 43200=MN1}
extern string note6 = "Stochastic1";
extern int	KPeriod		= 5,
				DPeriod		= 3,
				Slowing		= 3;
extern string note7 = "0=SMA, 1=EMA, 2=SMMA, 3=LWMA";
extern int	MAMethod		= 0;		// {0=SMA, 1=EMA, 2=SMMA, 3=LWMA}
extern string note8 = "0=Hi/Low, 1=Close/Close";
extern int	PriceField	= 0;		// {0=Hi/Low, 1=Close/Close}
extern bool	ShowClock	= true;	// display time to candle close countdown
extern bool	ShowStochInfo	= true;	
extern color ClockColor	= Red;
extern string ClockFont	= "Arial";
extern int ClockSize	= 8;

//---- indicator buffers
double		BufferK[],
				BufferD[],
				BufferK_Curr[],
				BufferD_Curr[];

//----
string	IndicatorName = "", IndicatorName2 = "", StochName = "",
			TimeLabelName = "";

//+------------------------------------------------------------------+
//| Custom indicator initialization function                         |
//+------------------------------------------------------------------+
int init()
{
//---- name for DataWindow and indicator subwindow label
	switch(TimeFrame)
	{
		case 1:		IndicatorName2="M1";	break;
		case 5:		IndicatorName2="M5"; break;
		case 10:		IndicatorName2="M10"; break;
		case 15:		IndicatorName2="M15"; break;
		case 30:		IndicatorName2="M30"; break;
		case 60:		IndicatorName2="H1"; break;
		case 120:	IndicatorName2="H2"; break;
		case 240:	IndicatorName2="H4"; break;
		case 480:	IndicatorName2="H8"; break;
		case 1440:	IndicatorName2="D1"; break;
		case 10080:	IndicatorName2="W1"; break;
		case 43200:	IndicatorName2="MN1"; break;
		default:	  {TimeFrame = Period(); init(); return(0);}
	}
   StochName = " Stoch("+KPeriod+","+DPeriod+","+Slowing+")";
	IndicatorName = IndicatorName2+StochName;
	IndicatorShortName(IndicatorName);  
	IndicatorDigits(1);

//---- indicator lines
	SetIndexBuffer(0,BufferK);
	SetIndexBuffer(1,BufferD);
	SetIndexBuffer(2,BufferK_Curr);
	SetIndexBuffer(3,BufferD_Curr);
 	SetIndexStyle(0,DRAW_LINE);
	SetIndexStyle(1,DRAW_LINE);
	SetIndexStyle(2,DRAW_LINE);
	SetIndexStyle(3,DRAW_LINE);
 	SetIndexLabel(0,IndicatorName+" %K line");
	SetIndexLabel(1,IndicatorName+" %D Signal");
 	SetIndexLabel(2,IndicatorName+" %K current candle");
 	SetIndexLabel(3,IndicatorName+" %D current candle");
}

//+------------------------------------------------------------------+
int deinit()
{
	if(TimeLabelName!="")
	if(ObjectFind	(TimeLabelName) != -1)
		ObjectDelete(TimeLabelName);
}

//+------------------------------------------------------------------+
//| MTF Stochastic                                                   |
//+------------------------------------------------------------------+
int start()
{
//----
//	counted bars from indicator time frame
	static int countedBars1 = 0;

//----
//	counted bars from display time frame
	if(Bars-1-IndicatorCounted() > 1 && countedBars1!=0)
		countedBars1 = 0;

	int bars1 = iBars(NULL,TimeFrame),
		 start1 = bars1-1-countedBars1,
		 limit1 = iBarShift(NULL,TimeFrame,Time[Bars-1]);

	if(countedBars1 != bars1-1)
	{
		countedBars1  = bars1-1;
		ArrayInitialize(BufferK_Curr,EMPTY_VALUE);
		ArrayInitialize(BufferD_Curr,EMPTY_VALUE);
		if(TimeLabelName!="")
		if(ObjectFind	(TimeLabelName) != -1)
			ObjectDelete(TimeLabelName);
	}

	if(start1 > limit1 && limit1 != -1)
		start1 = limit1;

//----
//	3... 2... 1... GO!
	for(int i = start1; i >= 0; i--)
	{
		int shift1 = i;

		if(TimeFrame < Period())
			shift1 = iBarShift(NULL,TimeFrame,Time[i]);

		int time1  = iTime    (NULL,TimeFrame,shift1),
			 shift2 = iBarShift(NULL,0,time1);
		double stochK, stochD;
      if ((TimeFrame != 10) && (TimeFrame != 120) && (TimeFrame != 480)) {
   		stochK = iStochastic(NULL,TimeFrame,KPeriod,DPeriod,Slowing,MAMethod,PriceField,0,shift1);
		   stochD = iStochastic(NULL,TimeFrame,KPeriod,DPeriod,Slowing,MAMethod,PriceField,1,shift1);
      }
      else {
      	   switch(TimeFrame)
	         {
		       case 10:	{
		                   stochK = 2*iStochastic(NULL,5,KPeriod,DPeriod,Slowing,MAMethod,PriceField,0,shift1);
		                   stochD = 2*iStochastic(NULL,5,KPeriod,DPeriod,Slowing,MAMethod,PriceField,1,shift1);
		                   break;
		                  }
		       case 120:	{
		                   stochK = 2*iStochastic(NULL,60,KPeriod,DPeriod,Slowing,MAMethod,PriceField,0,shift1);
		                   stochD = 2*iStochastic(NULL,60,KPeriod,DPeriod,Slowing,MAMethod,PriceField,1,shift1);
		                   break;
		                  }
		       case 480:	{
		                   stochK = 2*iStochastic(NULL,240,KPeriod,DPeriod,Slowing,MAMethod,PriceField,0,shift1);
		                   stochD = 2*iStochastic(NULL,240,KPeriod,DPeriod,Slowing,MAMethod,PriceField,1,shift1);
		                   break;
		                  }
   	      }
           }
	//----
	//	old (closed) candles
		if(shift1>=1)
		{
			BufferK[shift2] = stochK;
			BufferD[shift2] = stochD;
		}

	//----
	//	current candle
		if((TimeFrame >=Period() && shift1<=1)
		|| (TimeFrame < Period() &&(shift1==0||shift2==1)))
		{
			BufferK_Curr[shift2] = stochK;
			BufferD_Curr[shift2] = stochD;
		}

	//----
	//	linear interpolatior for the number of intermediate bars, between two higher timeframe candles.
		int n = 1;
		if(TimeFrame > Period())
		{
      if ((TimeFrame != 10) && (TimeFrame != 120) && (TimeFrame != 480)) {
			int shift2prev = iBarShift(NULL,0,iTime(NULL,TimeFrame,shift1+1));
      }
      else {
      	   switch(TimeFrame)
	         {
		       case 10:	{
                         shift2prev = 2*iBarShift(NULL,0,iTime(NULL,5,shift1+1));
		                   break;
		                  }
		       case 120:	{
                         shift2prev = 2*iBarShift(NULL,0,iTime(NULL,60,shift1+1));
		                   break;
		                  }
		       case 480:	{
                         shift2prev = 2*iBarShift(NULL,0,iTime(NULL,240,shift1+1));
		                   break;
		                  }
   	      }
   	     }

			if(shift2prev!=-1 && shift2prev!=shift2)
				n = shift2prev - shift2;
		}

	//----
	//	apply interpolation
		double factor = 1.0 / n;
		if(shift1>=1)
		if(BufferK[shift2+n]!=EMPTY_VALUE && BufferK[shift2]!=EMPTY_VALUE)
		{
			for(int k = 1; k < n; k++)
			{
				BufferK[shift2+k] = k*factor*BufferK[shift2+n] + (1.0-k*factor)*BufferK[shift2];
				BufferD[shift2+k] = k*factor*BufferD[shift2+n] + (1.0-k*factor)*BufferD[shift2];
			}
		}

	//----
	//	current candle
		if(shift1==0)
		if(BufferK_Curr[shift2+n]!=EMPTY_VALUE && BufferK_Curr[shift2]!=EMPTY_VALUE)
		{
			for(k = 1; k < n; k++)
			{
				BufferK_Curr[shift2+k] = k*factor*BufferK_Curr[shift2+n] + (1.0-k*factor)*BufferK_Curr[shift2];
				BufferD_Curr[shift2+k] = k*factor*BufferD_Curr[shift2+n] + (1.0-k*factor)*BufferD_Curr[shift2];
			}

		//----
		//	candle time countdown
			if(ShowClock)
			{
				int m,s;

				s = iTime(NULL,TimeFrame,0)+TimeFrame*60 - TimeCurrent();
				m = (s-s%60)/60;
				s = s%60;

				string text;
				if(s<10)	text = "0"+s;
				else		text = ""+s;
				if (ShowStochInfo)
				    text = "                "+IndicatorName2+StochName+" - "+m+":"+text;
				else
		   		 text = "                "+IndicatorName2+" - "+m+":"+text;

				int window = WindowFind(IndicatorName);
				if(window==-1)
					window = WindowOnDropped() ;

				TimeLabelName = IndicatorName+" Time Counter "+window;

				if(ObjectFind	(TimeLabelName) == -1)
					ObjectCreate(TimeLabelName, OBJ_TEXT, window, Time[shift2], BufferK_Curr[shift2]+3);
				else
					ObjectMove	(TimeLabelName, 0, Time[shift2], BufferK_Curr[shift2]+3);

				ObjectSetText	(TimeLabelName, text, ClockSize, ClockFont, ClockColor);
			}
			else if(ShowStochInfo)
			{
   		   text = "                "+IndicatorName2+StochName+text;
				window = WindowFind(IndicatorName);
				if(window==-1)
					window = WindowOnDropped() ;

				TimeLabelName = IndicatorName+" Time Counter "+window;

				if(ObjectFind	(TimeLabelName) == -1)
					ObjectCreate(TimeLabelName, OBJ_TEXT, window, Time[shift2], BufferK_Curr[shift2]+3);
				else
					ObjectMove	(TimeLabelName, 0, Time[shift2], BufferK_Curr[shift2]+3);

				ObjectSetText	(TimeLabelName, text, ClockSize, ClockFont, ClockColor);
			}

		}
	}

	return(0);
}

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