NavelSMA_v1
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This custom indicator is designed to provide a smoothed visual representation of market trends by calculating a specialized moving average. Unlike standard indicators that rely solely on closing prices, this script uses a proprietary weighted calculation to determine the "core" price of a candle.
How the Logic Works
1. Custom Price Calculation (The "Navel" Formula) The foundation of this indicator is a unique price point it identifies for every individual candle on the chart. Instead of looking only at where a candle finished, it takes a weighted average of four key data points:
- The Closing Price (given the highest priority)
- The Opening Price
- The High Point
- The Low Point
By blending these four values into a single representative price, the indicator aims to provide a more holistic view of market activity during each period.
2. Moving Average Smoothing Once the script establishes this unique price for every candle, it applies a moving average logic across a user-defined period (defaulting to 13). It looks back at a specific number of candles, totals their weighted prices, and divides them by the period length to create a smooth line.
3. Dynamic Updating The script is programmed to continuously recalculate this value as new data arrives. As a new candle forms, it drops the oldest calculation from the total and adds the newest one, allowing the indicator line to flow smoothly across your chart in real-time.
Key Features for Users
- Customizable Sensitivity: You can adjust the "MA_Period" to make the line smoother (longer period) or more reactive to sudden price changes (shorter period).
- Visual Shift: The script includes a "Shift" parameter, which allows you to move the resulting line forward or backward on the chart for better alignment with your trading strategy.
- Trend Visualization: By converting volatile price action into a smoothed red line based on weighted averages, it helps filter out "market noise," making it easier to identify the underlying direction of the trend.
//+------------------------------------------------------------------+
//| NavelSMA.mq4 |
//+------------------------------------------------------------------+
//| Íà áàçå (êîä ïîñòàðàëñÿ ñîõðàíèòü, êàê â îðèãèíàëå):
//| Custom Moving Average.mq4
//| Copyright © 2004, MetaQuotes Software Corp.
//| http://www.metaquotes.net/
//| Âûçîâ:
//| Val=iCustom(symbol,
//| timeframe,
//| "NavelSMA",
//| MA_Period,
//| MA_Shift,
//| 0,
//| NumBar);
//+------------------------------------------------------------------+
#property copyright "Copyright © 2008, Bookkeeper"
#property link "yuzefovich@gmail.com"
#property indicator_chart_window
#property indicator_buffers 1
#property indicator_color1 Red
extern int MA_Period=13;
extern int MA_Shift=0;
double ExtMapBuffer[];
int ExtCountedBars=0;
//+------------------------------------------------------------------+
int init()
{
SetIndexStyle(0,DRAW_LINE);
SetIndexShift(0,MA_Shift);
if(MA_Period<2) MA_Period=13;
SetIndexBuffer(0,ExtMapBuffer);
return(0);
}
//+------------------------------------------------------------------+
//| |
//+------------------------------------------------------------------+
int start()
{
if(Bars<=MA_Period) return(0);
ExtCountedBars=IndicatorCounted();
if (ExtCountedBars<0) return(-1);
if (ExtCountedBars>0) ExtCountedBars--;
double sum=0;
int i,pos=Bars-ExtCountedBars-1;
if(pos<MA_Period) pos=MA_Period;
for(i=1;i<MA_Period;i++,pos--)
sum+=Navel(pos);
while(pos>=0)
{
sum+=Navel(pos);
ExtMapBuffer[pos]=sum/MA_Period;
sum-=Navel(pos+MA_Period-1);
pos--;
}
/*
double pr=2.0/(MA_Period+1);
int pos=Bars-2;
if(ExtCountedBars>2) pos=Bars-ExtCountedBars-1;
while(pos>=0)
{
if(pos==Bars-2) ExtMapBuffer[pos+1]=Navel(pos+1);
ExtMapBuffer[pos]=Navel(pos)*pr+ExtMapBuffer[pos+1]*(1-pr);
pos--;
}
*/
return(0);
}
//+------------------------------------------------------------------+
double Navel(int bar)
{
double price=(Close[bar]*5+Open[bar]*2+High[bar]+Low[bar])/9;
return(price);
}
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