NT_Trigger_Lines_Small_Recoded
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This script is designed as a visual technical analysis tool for trading platforms. It functions by calculating specific mathematical trends from price data and highlighting the moments when these trends shift in direction.
Core Logic Overview
The tool operates by creating two distinct layers of data: a primary trend line and a "signal" line.
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Trend Identification (Linear Regression): First, the script looks at a specific number of past price points (defined by the "length" setting) to perform a linear regression calculation. This essentially smooths out the "noise" of daily price fluctuations to determine the underlying direction of the market. It produces a base trend line that represents where the price is headed based on its recent path.
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Smoothing and Filtering (EMA): To prevent the tool from reacting too quickly to minor price jitters, the script takes that primary trend line and applies an Exponential Moving Average (EMA). Think of this as a "second layer" of smoothing. It helps identify whether the primary trend is accelerating, decelerating, or holding steady.
Visual Signaling
The most important part of this script is how it interprets the relationship between these two calculated lines. It monitors for "crossovers"—moments when the smoothed signal line moves above or below the primary trend line.
- Directional Shifts: The script tracks whether the signal is currently rising or falling. When the signal line crosses the trend line, it triggers a visual change on your chart.
- Dynamic Coloring: By monitoring these crossovers, the tool provides clear visual cues (using different colors) to indicate transitions in momentum. It highlights periods of strength and weakness, making it easier for a trader to see where a trend might be reversing.
Summary for the User
Instead of forcing you to interpret raw price candles, this script processes the data to show you:
- The underlying mathematical "best fit" line for current prices.
- A secondary smoothed signal that filters out market noise.
- Clear visual indicators that highlight exactly when the momentum of the market shifts from one direction to another.
//+------------------------------------------------------------------+
//| NT Trigger Lines Recoded.mq4 |
//| Copyright 2013, William Kreider (Madhatt30) |
//| http://www.metaquotes.net |
//+------------------------------------------------------------------+
#property copyright "Copyright 2013, William Kreider (Madhatt30)"
#property link "http://www.metaquotes.net"
#property indicator_chart_window
#property indicator_buffers 4
#property indicator_color1 Lime
#property indicator_color2 Lime
#property indicator_color3 Red
#property indicator_color4 Red
#property indicator_width1 1
#property indicator_width2 1
#property indicator_width3 1
#property indicator_width4 1
//--- input parameters
extern int length=20;
extern int trigAvg=5;
//--- buffers
double ExtMapBuffer1[];
double ExtMapBuffer2[];
double ExtMapBuffer3[];
double ExtMapBuffer4[];
double c;
//---- additional calculating buffers
double LRBuffer[],EMABuffer[];
bool bTrigWasRising=false;
bool firstrun=true;
//+------------------------------------------------------------------+
//| Custom indicator initialization function |
//+------------------------------------------------------------------+
int init()
{
IndicatorBuffers(6);
//---- indicators
SetIndexStyle(0,DRAW_LINE);
SetIndexBuffer(0,ExtMapBuffer1);
SetIndexStyle(1,DRAW_LINE);
SetIndexBuffer(1,ExtMapBuffer2);
SetIndexStyle(2,DRAW_LINE);
SetIndexBuffer(2,ExtMapBuffer3);
SetIndexStyle(3,DRAW_LINE);
SetIndexBuffer(3,ExtMapBuffer4);
//---- Counting buffers same as DataSeries in NinjaTrader
SetIndexBuffer(4,LRBuffer);
SetIndexBuffer(5,EMABuffer);
//----
return(0);
}
//+------------------------------------------------------------------+
//| Custom indicator deinitialization function |
//+------------------------------------------------------------------+
int deinit()
{
//----
return(0);
}
//+------------------------------------------------------------------+
//| Custom indicator iteration function |
//+------------------------------------------------------------------+
int start()
{
int i;
int counted_bars=IndicatorCounted();
if(counted_bars < 0) return(-1);
if(counted_bars>0) counted_bars--;
int limit=Bars-counted_bars;
if(counted_bars==0) limit-=1+length;
//----
if(firstrun)
{
for(i=limit;i>=0;i--)
{
LRBuffer[i]=linreg(length,i);
}
for(i=limit;i>=0;i--)
{
EMABuffer[i]=iMAOnArray(LRBuffer,0,trigAvg,0,MODE_EMA,i);
}
firstrun=false;
}
RefreshRates();
WindowRedraw();
for(i=limit;i>=0;i--)
{
LRBuffer[i]=linreg(length,i);
EMABuffer[i]=iMAOnArray(LRBuffer,0,trigAvg,0,MODE_EMA,i);
if(EMABuffer[i]>=LRBuffer[i])
{
if(bTrigWasRising)
{
ExtMapBuffer1[i]=LRBuffer[i];
ExtMapBuffer2[i]=EMABuffer[i];
ExtMapBuffer3[i]=EMPTY_VALUE;
ExtMapBuffer4[i]=EMPTY_VALUE;
}
else
{
ExtMapBuffer3[i]=LRBuffer[i];
ExtMapBuffer4[i]=EMABuffer[i];
ExtMapBuffer1[i]=LRBuffer[i];
ExtMapBuffer2[i]=EMABuffer[i];
}
bTrigWasRising=false;
}
else
{
if(!bTrigWasRising)
{
ExtMapBuffer3[i]=LRBuffer[i];
ExtMapBuffer4[i]=EMABuffer[i];
ExtMapBuffer1[i]=LRBuffer[i];
ExtMapBuffer2[i]=EMABuffer[i];
}
else
{
ExtMapBuffer1[i]=LRBuffer[i];
ExtMapBuffer2[i]=EMABuffer[i];
ExtMapBuffer3[i]=EMPTY_VALUE;
ExtMapBuffer4[i]=EMPTY_VALUE;
}
bTrigWasRising=true;
}
}
//----
RefreshRates();
WindowRedraw();
return(0);
}
//+------------------------------------------------------------------+
//| |
//+------------------------------------------------------------------+
double linreg(int p,int i)
{
double SumY=0;
double Sum1=0;
double Slope=0;
//double c;
for(int x=0; x<=p-1;x++)
{
c=Close[x+i];
SumY+=c;
Sum1+=x*c;
}
double SumBars=p*(p-1)*0.5;
double SumSqrBars=(p-1)*p*(2*p-1)/6;
double Sum2=SumBars*SumY;
double Num1=p*Sum1-Sum2;
double Num2=SumBars*SumBars-p*SumSqrBars;
if(Num2!=0) Slope=Num1/Num2;
else Slope=0;
double Intercept=(SumY-Slope*SumBars)/p;
double linregval=Intercept+Slope*(p-1);
return(linregval);
}
//+------------------------------------------------------------------+
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