MultipleMA
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This script is designed as a visual trading tool for the MetaTrader platform that simplifies the analysis of market trends by calculating and displaying three different "Moving Averages" simultaneously on a single chart.
Instead of just showing you standard average prices, this tool uses a layered logic to provide a more nuanced view of price momentum. Here is a breakdown of how it works:
The Triple-Layer Analysis
The core logic follows a hierarchical structure where each subsequent average is derived from the one before it. This creates a "smoothed" effect that helps filter out market noise:
- The Primary Layer (Fast): The script first calculates a base Moving Average using a short timeframe. This represents the most immediate price action.
- The Secondary Layer (Medium): The script then takes the results of the first average and calculates a second moving average based on them.
- The Tertiary Layer (Slow): Finally, it takes the results of the second average and calculates a third moving average.
By layering the data this way, the final lines provide a very smooth representation of the trend, making it easier to identify long-term directions without being distracted by minor price fluctuations.
Customization Options
The script offers high flexibility for users to tailor the visual output to their specific trading style:
- Calculation Methods: You can choose between several standard types of moving averages (such as Simple, Exponential, Smoothed, Linear Weighted, or Least Squares).
- Price Source Selection: You can define which price data the script should "look" at—whether it be the closing price, the opening price, the high/low of a candle, or a median average of those points.
- Time Periods: Each of the three layers can be assigned its own unique period (e.g., one very fast, one medium, and one very slow), allowing you to see how different time horizons interact with one another.
Safety and Accuracy
To ensure the tool functions correctly, the script includes a built-in validation system. Before it starts drawing on your chart, it automatically checks your settings to make sure the chosen calculation methods are compatible with the periods provided. If an incorrect setting is detected, the script will alert you rather than producing inaccurate data.
In summary, this tool acts as a sophisticated trend-smoothing engine, transforming raw price data into three distinct, layered lines that help traders visualize the underlying strength and direction of the market.
Price Data Components
Indicators Used
Miscellaneous
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MultipleMA
/*-----------------------------+
| |
| Shared by www.Aptrafx.com |
| |
+------------------------------*/
//+------------------------------------------------------------------+
//| MultipleMA.mq4 |
//| Copyright © 2006, Robert Hill aka MrPip |
//+------------------------------------------------------------------+
#property copyright "Copyright © 2006, Robert Hill aka MrPip"
//---- indicator settings
#property indicator_chart_window
#property indicator_buffers 3
#property indicator_color1 Red
#property indicator_color2 Yellow
#property indicator_color3 Green
#property indicator_width1 2
#property indicator_width2 2
#property indicator_width3 2
//---- indicator parameters
extern int FirstMA_Period=5;
extern int FirstMA_Mode = 1; //0=sma, 1=ema, 2=smma, 3=lwma , 4=LSMA
extern int FirstMA_AppliedPrice = 0; // 0=close, 1=open, 2=high, 3=low, 4=median((h+l/2)), 5=typical((h+l+c)/3), 6=weighted((h+l+c+c)/4)
extern int SecondMA_Period=13;
extern int SecondMA_Mode = 1; //0=sma, 1=ema, 2=smma, 3=lwma
extern int ThirdMA_Period=62;
extern int ThirdMA_Mode = 1; //0=sma, 1=ema, 2=smma, 3=lwma
//---- indicator buffers
double MA1[];
double MA2[];
double MA3[];
//+------------------------------------------------------------------+
//| Custom indicator initialization function |
//+------------------------------------------------------------------+
int init()
{
//---- drawing settings
SetIndexStyle(0,DRAW_LINE);
SetIndexStyle(1,DRAW_LINE);
SetIndexStyle(2,DRAW_LINE);
SetIndexDrawBegin(0,ThirdMA_Period);
IndicatorDigits(MarketInfo(Symbol(),MODE_DIGITS)+2);
//---- 3 indicator buffers mapping
if(!SetIndexBuffer(0,MA1) &&
!SetIndexBuffer(1,MA2) &&
!SetIndexBuffer(2,MA3))
Print("cannot set indicator buffers!");
//---- name for DataWindow and indicator subwindow label
IndicatorShortName("MultipleMA("+FirstMA_Period+","+SecondMA_Period+","+ThirdMA_Period+")");
//---- initialization done
return(0);
}
//+------------------------------------------------------------------------+
//| LSMA - Least Squares Moving Average function calculation |
//| LSMA_In_Color Indicator plots the end of the linear regression line |
//| Modified to use any timeframe |
//+------------------------------------------------------------------------+
double LSMA(int Rperiod,int prMode, int TimeFrame, int mshift)
{
int i;
double sum, price;
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: price = iClose(NULL,TimeFrame,length-i+mshift);break;
case 1: price = iOpen(NULL,TimeFrame,length-i+mshift);break;
case 2: price = iHigh(NULL,TimeFrame,length-i+mshift);break;
case 3: price = iLow(NULL,TimeFrame,length-i+mshift);break;
case 4: price = (iHigh(NULL,TimeFrame,length-i+mshift) + iLow(NULL,TimeFrame,length-i+mshift))/2;break;
case 5: price = (iHigh(NULL,TimeFrame,length-i+mshift) + iLow(NULL,TimeFrame,length-i+mshift) + iClose(NULL,TimeFrame,length-i+mshift))/3;break;
case 6: price = (iHigh(NULL,TimeFrame,length-i+mshift) + iLow(NULL,TimeFrame,length-i+mshift) + iClose(NULL,TimeFrame,length-i+mshift) + iClose(NULL,TimeFrame,length-i+mshift))/4;break;
}
tmp = ( i - lengthvar)*price;
sum+=tmp;
}
wt = sum*6/(length*(length+1));
return(wt);
}
//+------------------------------------------------------------------+
//| CheckValidUserInputs |
//| Check if User Inputs are valid for ranges allowed |
//| return true if invalid input, false otherwise |
//| Also display an alert for invalid input |
//+------------------------------------------------------------------+
bool CheckValidUserInputs()
{
if (CheckMAMethod(FirstMA_Mode, 0, 4))
{
Alert("FirstMA_Mode requires a value from 0 to 4."," You entered ",FirstMA_Mode);
return(true);
}
if (CheckMAMethod(SecondMA_Mode, 0, 3))
{
Alert("SecondMA_Mode requires a value from 0 to 3."," You entered ",SecondMA_Mode);
return(true);
}
if (CheckMAMethod(ThirdMA_Mode, 0, 3))
{
Alert("ThirdMA_Mode requires a value from 0 to 3."," You entered ",ThirdMA_Mode);
return(true);
}
}
//+------------------------------------------------+
//| Check for valid Moving Average methods |
//| 0=sma, 1=ema, 2=smma, 3=lwma , 4=lsma |
//| return true if invalid, false if OK |
//+------------------------------------------------+
bool CheckMAMethod(int method, int low_val, int high_val)
{
if (method < low_val) return (true);
if (method > high_val) return (true);
return(false);
}
//+------------------------------------------------------------------+
//| Multiple Moving Averages |
//+------------------------------------------------------------------+
int start()
{
int i,limit;
int counted_bars=IndicatorCounted();
//---- check for possible errors
if(counted_bars<0) return(-1);
if (CheckValidUserInputs()) return(-1);
//---- last counted bar will be recounted
if(counted_bars>0) counted_bars--;
limit=Bars-counted_bars;
for(i=limit; i>=0; i--)
if (FirstMA_Mode == 4)
{
MA1[i] = LSMA(FirstMA_Period,FirstMA_AppliedPrice,0,i);
}
else
{
MA1[i]=iMA(NULL,0,FirstMA_Period,0,FirstMA_Mode,FirstMA_AppliedPrice,i);
}
for(i=limit; i>=0; i--)
MA2[i] = iMAOnArray(MA1,Bars,SecondMA_Period,0,SecondMA_Mode,i);
for(i=limit; i>=0; i--)
MA3[i] = iMAOnArray(MA2,Bars,ThirdMA_Period,0,ThirdMA_Mode,i);
//---- done
return(0);
}
//+------------------------------------------------------------------+
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