The NeuroTrend indicator is designed to provide visual clarity on market direction by identifying significant price boundaries and potential trend shifts. Instead of simply looking at a single moving average, this tool analyzes the recent history of price action to establish dynamic "support" and "resistance" levels that adapt as the market moves.
How the Logic Works
The indicator functions by continuously scanning two different windows of time (defined by the user's settings) to identify local highs and lows. From these points, it constructs a series of visual elements:
- Dynamic Trend Lines: The script identifies the highest high and lowest low over short periods. It then uses the current closing price relative to previous levels to decide whether to track the "ceiling" (resistance) or the "floor" (support). This creates two moving lines on your chart that represent the current boundaries of the market's momentum.
- Momentum Bars: The logic calculates whether the current price is trading above or below these established boundaries. It then generates histogram bars that act as a visual representation of the gap between the price and these trend levels, helping to highlight the strength of the current movement.
- Trend Signal Arrows: This is the indicator's primary alerting mechanism. The script monitors for "breakout" conditions. When the closing price moves decisively beyond the identified boundaries, the indicator places a visual arrow on the chart. These arrows signify a change in state—marking where the trend has potentially shifted from bearish to bullish or vice versa.
Summary of Visual Output
By combining these elements, the tool provides a multi-layered view of the market:
- Lines show you the current "playing field" of the price.
- Bars show you the intensity of the price's push against those boundaries.
- Arrows provide clear signals for when the trend has officially shifted, helping traders identify potential entry points or reversals in real-time.
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NeuroTrend
/*
Generated by EX4-TO-MQ4 decompiler V4.0.220.2c []
Website: http://purebeam.biz
E-mail : purebeam@gmail.com
*/
#property copyright "Copyright © 2006, MetaQuotes Software Corp."
#property link "http://www.metaquotes.net"
#property indicator_chart_window
#property indicator_buffers 6
#property indicator_color1 Red
#property indicator_color2 Blue
#property indicator_color3 Red
#property indicator_color4 Aqua
#property indicator_color5 Blue
#property indicator_color6 Red
extern int Z = 2;
extern int Z1 = 3;
extern int S = 0;
extern int S1 = 0;
double gd_92;
double gd_100;
double gd_108;
double gd_116 = 0.0;
double gd_124;
double gd_132 = 0.0;
double gd_140;
double gd_148;
int gi_156 = 0;
double gd_unused_168 = 0.0;
int gi_unused_176 = 0;
double g_ibuf_180[];
double g_ibuf_184[];
double g_ibuf_188[];
double g_ibuf_192[];
double g_ibuf_196[];
double g_ibuf_200[];
double g_ibuf_204[];
double g_ibuf_208[];
int init() {
IndicatorBuffers(8);
SetIndexBuffer(6, g_ibuf_188);
SetIndexBuffer(7, g_ibuf_192);
IndicatorDigits(MarketInfo(Symbol(), MODE_DIGITS));
SetIndexStyle(0, DRAW_LINE, STYLE_SOLID, 2);
SetIndexBuffer(0, g_ibuf_180);
SetIndexStyle(1, DRAW_LINE, STYLE_SOLID, 2);
SetIndexBuffer(1, g_ibuf_184);
SetIndexDrawBegin(0, Z1 + 1);
SetIndexDrawBegin(1, Z1 + 1);
SetIndexDrawBegin(2, Z1 + 1);
SetIndexDrawBegin(3, Z1 + 1);
SetIndexDrawBegin(4, Z1 + 1);
SetIndexDrawBegin(5, Z1 + 1);
SetIndexStyle(2, DRAW_HISTOGRAM, STYLE_SOLID, 2);
SetIndexBuffer(2, g_ibuf_196);
SetIndexStyle(3, DRAW_HISTOGRAM, STYLE_SOLID, 2);
SetIndexBuffer(3, g_ibuf_200);
SetIndexStyle(4, DRAW_ARROW, STYLE_DASH, 3);
SetIndexArrow(4, 108);
SetIndexBuffer(4, g_ibuf_204);
SetIndexStyle(5, DRAW_ARROW, STYLE_DASH, 3);
SetIndexArrow(5, 108);
SetIndexBuffer(5, g_ibuf_208);
IndicatorShortName("NeuroTrend");
SetIndexLabel(0, "NTLine1");
SetIndexLabel(1, "NTLine2");
SetIndexLabel(2, "NTBar1");
SetIndexLabel(3, "NTBar2");
SetIndexLabel(4, "NTSig1");
SetIndexLabel(5, "NTSig2");
return (0);
}
int deinit() {
return (0);
}
int start() {
int li_8;
int li_unused_0 = MarketInfo(Symbol(), MODE_DIGITS);
if (Bars <= Z1) return (0);
int l_ind_counted_4 = IndicatorCounted();
if (l_ind_counted_4 == 0) li_8 = Bars - 1;
if (l_ind_counted_4 > 0) li_8 = Bars - l_ind_counted_4 - 1;
for (int li_12 = li_8; li_12 >= 0; li_12--) {
gd_92 = High[iHighest(NULL, 0, MODE_HIGH, Z, li_12)] + S * Point;
gd_100 = Low[iLowest(NULL, 0, MODE_LOW, Z, li_12)] - S * Point;
gd_108 = High[iHighest(NULL, 0, MODE_HIGH, Z1, li_12)] + S1 * Point;
gd_116 = Low[iLowest(NULL, 0, MODE_LOW, Z1, li_12)] - S1 * Point;
if (Close[li_12] > g_ibuf_180[li_12 + 1]) gd_124 = gd_100;
else gd_124 = gd_92;
if (Close[li_12] > g_ibuf_184[li_12 + 1]) gd_132 = gd_116;
else gd_132 = gd_108;
g_ibuf_180[li_12] = gd_124;
g_ibuf_184[li_12] = gd_132;
gd_140 = 0.0;
gd_148 = 0.0;
if (Close[li_12] < gd_124 && Close[li_12] < gd_132) {
gd_140 = High[li_12];
gd_148 = Low[li_12];
}
if (Close[li_12] > gd_124 && Close[li_12] > gd_132) {
gd_140 = Low[li_12];
gd_148 = High[li_12];
}
g_ibuf_196[li_12] = gd_140;
g_ibuf_200[li_12] = gd_148;
if (Close[li_12] > gd_132 && Close[li_12] > gd_124 && gi_156 != 1) {
g_ibuf_204[li_12] = gd_132;
g_ibuf_208[li_12] = EMPTY_VALUE;
gi_156 = 1;
}
if (Close[li_12] < gd_132 && Close[li_12] < gd_124 && gi_156 != 2) {
g_ibuf_208[li_12] = gd_132;
g_ibuf_204[li_12] = EMPTY_VALUE;
gi_156 = 2;
}
}
return (0);
}
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