MUV%
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This script functions as a specialized technical analysis tool designed to provide traders with visual data regarding market momentum and price trends. Rather than just showing raw price action, it processes underlying data to create a clearer picture of how the market is moving.
Core Functionality
The primary logic of this script relies on interpreting "Moving Average" (MUV) data. It looks at two specific types of movements to determine market behavior:
- Trend Direction: The script monitors the general path of the price to identify whether the market is trending upward or downward.
- Momentum Velocity: It calculates the difference between consecutive data points, which helps in measuring the speed and strength of a current move.
How the Logic Works
To generate the visual output, the script performs the following steps internally:
- Data Retrieval: It pulls specific information from a secondary indicator (the MUV) to establish a baseline for "smooth" price movement.
- Peak and Valley Analysis: The script looks back over a specific number of bars (determined by user settings) to find the highest highs and lowest lows within that timeframe.
- Relative Positioning: It calculates where the current market position sits in relation to those recent highs and lows.
- Normalization: By comparing the current value against the maximum and minimum values found during its look-back period, it converts raw price data into a normalized score (ranging from 0 to 1).
Visual Output
The result of these calculations is plotted on a separate window in your trading platform. It provides four distinct lines (which can be toggled on or off by the user):
- Difference Tracking: These lines highlight the changes in momentum, showing whether the strength of a move is accelerating or decelerating.
- Movement Value: These lines represent the current state of the trend based on the relative position of the price within its recent range.
By observing these lines together, traders can better identify when a trend is losing steam, when a new move is gaining significant force, and where the current price sits relative to recent market extremes.
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MUV%
//+------------------------------------------------------------------+
//| 111.mq4 |
//| Copyright © 2008, MetaQuotes Software Corp. |
//| http://www.metaquotes.net |
//+------------------------------------------------------------------+
#property copyright "Copyright © 2008, MetaQuotes Software Corp."
#property link "http://www.metaquotes.net"
#property indicator_separate_window
#property indicator_buffers 4
#property indicator_color1 Green
#property indicator_color2 Yellow
#property indicator_color3 Red
#property indicator_color4 Blue
//extern int MAMetod = 0;
extern int MAPeriod = 14;
extern int KPeriod = 14;
extern bool ShowDif = true;
extern bool ShowMUV = true;
//---- buffers
double ExtMapBuffer1[];
double ExtMapBuffer2[];
double ExtMapBuffer3[];
double ExtMapBuffer4[];
//double ExtMapBuffer1[];
//double ExtMapBuffer2[];
//double K[];
double K0[];
double K1[];
double K2[];
double K3[];
//+------------------------------------------------------------------+
//| Custom indicator initialization function |
//+------------------------------------------------------------------+
int init()
{
//---- indicators
IndicatorBuffers(8);
if (ShowDif) {SetIndexStyle(0,DRAW_LINE); SetIndexStyle(1,DRAW_LINE);}
else {SetIndexStyle(0,DRAW_NONE); SetIndexStyle(1,DRAW_NONE);}
if (ShowMUV) {SetIndexStyle(2,DRAW_LINE); SetIndexStyle(3,DRAW_LINE);}
else {SetIndexStyle(2,DRAW_NONE); SetIndexStyle(3,DRAW_NONE);}
SetIndexBuffer(0,ExtMapBuffer1);
SetIndexBuffer(1,ExtMapBuffer2);
SetIndexBuffer(2,ExtMapBuffer3);
SetIndexBuffer(3,ExtMapBuffer4);
SetIndexBuffer(4,K0);
SetIndexBuffer(5,K1);
SetIndexBuffer(6,K2);
SetIndexBuffer(7,K3);
//----
return(0);
}
//+------------------------------------------------------------------+
//| Custom indicator deinitialization function |
//+------------------------------------------------------------------+
int deinit()
{
//----
//----
return(0);
}
//+------------------------------------------------------------------+
//| Custom indicator iteration function |
//+------------------------------------------------------------------+
int start()
{
int counted_bars=IndicatorCounted();
//----
for (int i = Bars-counted_bars;i >=0; i--)
{
K0[i] = iCustom(NULL,0,"MUV",MAPeriod,0,1,i)-iCustom(NULL,0,"MUV",MAPeriod,0,1,i+1);
K1[i] = iCustom(NULL,0,"MUV",MAPeriod,1,1,i)-iCustom(NULL,0,"MUV",MAPeriod,1,1,i+1);
K2[i] = iCustom(NULL,0,"MUV",MAPeriod,0,1,i);
K3[i] = iCustom(NULL,0,"MUV",MAPeriod,1,1,i);
double K0mx = K0[ArrayMaximum(K0,KPeriod,i)];
double K0mm = K0[ArrayMinimum(K0,KPeriod,i)];
double K1mx = K1[ArrayMaximum(K1,KPeriod,i)];
double K1mm = K1[ArrayMinimum(K1,KPeriod,i)];
double K2mx = K2[ArrayMaximum(K2,MAPeriod,i)];
double K2mm = K2[ArrayMinimum(K2,MAPeriod,i)];
double K3mx = K3[ArrayMaximum(K3,MAPeriod,i)];
double K3mm = K3[ArrayMinimum(K3,MAPeriod,i)];
if ((K0mx - K0mm)>0) double k0 = 1-((K0mx-K0[i])/(K0mx-K0mm)); else k0 = 1;
if ((K1mx - K1mm)>0) double k1 = 1-((K1mx-K1[i])/(K1mx-K1mm)); else k1 = 1;
if ((K2mx - K2mm)>0) double k2 = 1-((K2mx-K2[i])/(K2mx-K2mm)); else k2 = 0;
if ((K3mx - K3mm)>0) double k3 = 1-((K3mx-K3[i])/(K3mx-K3mm)); else k3 = 0;
ExtMapBuffer1[i] = k0;
ExtMapBuffer2[i] = k1;
ExtMapBuffer3[i] = k2;
ExtMapBuffer4[i] = k3;
}
//----
return(0);
}
//+------------------------------------------------------------------+
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