Notarius
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This technical indicator is designed to identify and visualize specific price action trends on a trading chart by monitoring the relationship between candle price movements and established momentum. It functions as a signaling tool that helps traders distinguish between upward and downward market shifts based on mathematical averages and pre-defined confirmation thresholds.
Core Logic Overview
The script operates by continuously analyzing every price candle to determine the current "market sentiment." It does this through three primary layers of logic:
1. Trend Direction Analysis The tool calculates a moving average of the prices (specifically looking at the Open, High, Low, and Close) and compares it against the previous average.
- If the current price structure is consistently higher than the calculated average, the tool recognizes an upward bias.
- If the price structure falls below that average, it identifies a downward bias.
- The script tracks these "bars" of movement to ensure that a trend is sustained rather than just a momentary flicker in price.
2. Confirmation Thresholds (The Filter) To prevent "false positives"—where the market might look like it's moving but fails to gain real momentum—the script uses a confirmation system.
- Price Extension: It looks for the price to move a specific distance beyond a starting point. You can set how "far" the price must travel before the indicator officially recognizes a trend change.
- Directional Validation: The script checks if the candle is actually closing in the direction of the intended move (e.g., making sure a bullish move actually ends with a higher close).
3. Flat Zone Management The logic includes a "Flat" parameter which acts as a buffer zone. This allows the indicator to ignore minor price fluctuations that occur within a very tight range. It ensures that the tool only triggers a signal when a significant breakout occurs, rather than reacting to insignificant "noise" in the market.
Visual and Notification Outputs
When the script successfully validates both a trend direction and a confirmed price move, it provides three types of feedback:
- On-Chart Visuals: It places specific colored arrows (Lime Green for upward movements and Red for downward movements) directly on the chart at the point where the signal was triggered.
- Audio Alerts: If enabled, the script can trigger a sound notification immediately when a new signal appears on the most recent candle.
- Email Notifications: The script is capable of sending an automated email alert containing the symbol name and the time of the trade signal, allowing for monitoring even when you are not looking at your screen.
Operational Modes
The logic can be adjusted through different "Modes" which dictate whether the indicator prioritizes buy signals, sell signals, or both simultaneously, allowing the user to customize the tool based on their specific trading strategy.
//+-----------------------------------------------------------------------+
//| Notarius.mq4 |
//+-----------------------------------------------------------------------+
#property copyright "Copyright © 2011, Andrey Vassiliev (MoneyJinn), v2.0"
#property link "http://www.vassiliev.ru/"
//I Ain't Mad At Cha, MetaQuotes...
#property indicator_chart_window
#property indicator_buffers 2
#property indicator_color1 LimeGreen
#property indicator_color2 Red
#property indicator_width1 1
#property indicator_width2 1
extern int Mode=0; // 0...2
extern int StartBar=2; // 1...+n
extern double Confirm=25.0; // -n...+n
extern double Flat=-25.0; // -n...+n
extern bool SoundAlert=false;
extern bool EmailAlert=false;
double B1[],B2[];
double IUP,IDN,E1,E2,Confirm2,Flat2,Z1,Z2;
int IN,F,C,BR1,BR2;
int init()
{
CLR();
if(Mode<=0||Mode>2){C=0;F=0;}
if(Mode==1){C=1;F=0;}
if(Mode==2){C=0;F=1;}
if(Digits==3||Digits==5){Confirm2=MathAbs(Confirm*10);Flat2=MathAbs(Flat*10);}else{Confirm2=MathAbs(Confirm);Flat2=MathAbs(Flat);}
SetIndexStyle(0,DRAW_ARROW);
SetIndexArrow(0,233);
SetIndexBuffer(0,B1);
SetIndexStyle(1,DRAW_ARROW);
SetIndexArrow(1,234);
SetIndexBuffer(1,B2);
return(0);
}
void CLR(){if(ArraySize(B1)>0){ArrayInitialize(B1,0);ArrayInitialize(B2,0);}IN=0;Z1=0;Z2=0;IUP=0;IDN=0;E1=0;E2=0;BR1=0;BR2=0;}
int start()
{
int IndCounted=IndicatorCounted();
if(IndCounted<0){return(-1);}
if(IndCounted==0){CLR();}
int pos=0;
if(Bars>IndCounted+1){pos=(Bars-IndCounted)-1;}
for(int i=pos;i>0;i--)
{
B1[i]=0; B2[i]=0;
Z1=(Z1+Z2)/2;
Z2=(Open[i]+High[i]+Low[i]+Close[i])/4;
if(Z1<Z2)
{
BR1++;BR2=0;
if((IN==0||IN==-1)&&(StartBar<=1||BR1>=StartBar)){if(Confirm==0){BU(i);}else{if(Confirm>0){IUP=Open[i];}else{IUP=Open[i];}IDN=0;if(C==1){IN=1;}}}
}
else
{
BR2++;BR1=0;
if((IN==0||IN==1)&&(StartBar<=1||BR2>=StartBar)){if(Confirm==0){BD(i);}else{if(Confirm>0){IDN=Open[i];}else{IDN=Open[i];}IUP=0;if(C==1){IN=-1;}}}
}
if(IUP!=0){if(((Confirm>0)&&((High[i]-IUP)>=(Confirm2*Point))&&(Open[i]<=Close[i]))||((Confirm<0)&&((IUP-Low[i])>=(Confirm2*Point))&&(Open[i]>=Close[i]))){BU(i);IUP=0;}}
if(IDN!=0){if(((Confirm>0)&&((IDN-Low[i])>=(Confirm2*Point))&&(Open[i]>=Close[i]))||((Confirm<0)&&((High[i]-IDN)>=(Confirm2*Point))&&(Open[i]<=Close[i]))){BD(i);IDN=0;}}
}
return(0);
}
void BU(int i){if(Low[i]>=(E1+Flat2*Point)||Low[i]<=(E1-Flat2*Point)){B1[i]=Low[i];IN=1;E1=Low[i];if(Flat<0){E2=High[i];}Alerts(i,"UP "+Symbol()+" "+TimeToStr(Time[i]));}else{if(F==1){IN=1;}}}
void BD(int i){if(High[i]>=(E2+Flat2*Point)||High[i]<=(E2-Flat2*Point)){B2[i]=High[i];IN=-1;E2=High[i];if(Flat<0){E1=Low[i];}Alerts(i,"DN "+Symbol()+" "+TimeToStr(Time[i]));}else{if(F==1){IN=-1;}}}
void Alerts(int pos,string txt)
{
if (SoundAlert==true&&pos==1){PlaySound("alert.wav");}
if (EmailAlert==true&&pos==1){SendMail("Notarius alert signal: "+txt,txt);}
}
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