Phoenix5_Ind_1
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This indicator is designed to identify specific entry points in the financial markets by analyzing price action through four distinct technical filters. Instead of relying on a single signal, it requires all four conditions to align simultaneously before displaying a visual cue (an arrow) on your trading chart.
How the Logic Works
The script evaluates the market based on the following four pillars:
1. Price Envelope Analysis The indicator monitors whether the price has moved outside of a predefined "normal" range. It calculates an upper and lower boundary (envelopes).
- If the price closes above the upper boundary, it flags a potential selling condition.
- If the price closes below the lower boundary, it flags a potential buying condition.
2. Moving Average Momentum The script looks at Simple Moving Averages (SMA) to determine the trend's direction. By comparing the current moving average value against its position several bars back, it detects momentum shifts.
- An upward shift in the average suggests buying strength.
- A downward shift indicates selling pressure.
3. Oscillator Strength (OsMA) To filter out market "noise," the script uses an On Balance Volume Moving Average (OsMA). This helps determine the underlying strength of the price movement. It compares current values to previous bars to see if the momentum is accelerating or decelerating in a specific direction.
4. Divergence Detection This is a sophisticated calculation that measures the mathematical "gap" between two different moving averages (a fast and a slow one). The script calculates the rate of change in this gap.
- It looks for specific numerical values (divergences) that indicate the market is reaching a point where it might be overextended or ready to reverse.
Automated Optimization
One unique feature of this script is its Currency Awareness. The logic recognizes different currency pairs (such as USDJPY, EURGBP, etc.) and automatically adjusts its internal settings—such as sensitivity levels and periods—to match the specific volatility of that currency. This ensures that the signals remain consistent regardless of which market you are trading.
Visual Output
The indicator only places an arrow on your chart when all four of these conditions are met at the same time:
- Blue Arrow: Triggered when the price is below the lower envelope, moving averages show upward momentum, the oscillator confirms strength, and the divergence matches a buying threshold.
- Red Arrow: Triggered when the price is above the upper envelope, moving averages show downward momentum, the oscillator confirms weakness, and the divergence matches a selling threshold.
/*-----------------------------+
| |
| Shared by www.Aptrafx.com |
| |
+------------------------------*/
//+------------------------------------------------------------------------+
//| Phoenix_4_CONTEST_indicator.ex4 |
//| Copyright © 2006, fryk@tlen.pl |
//| This indicator is based on Phoenix_v4_2_CONTEST.mq4 EA © 2006 Hendrick |
//+------------------------------------------------------------------------+
#property copyright "Copyright © 2006, fryk@tlen.pl"
#property indicator_chart_window
#property indicator_buffers 2
#property indicator_color1 Blue
#property indicator_color2 Red
double ExtMapBuffer1[];
double ExtMapBuffer2[];
extern int SMAPeriod = 7;
extern int SMA2Bars = 14;
extern double Percent = 0.0032;
extern int EnvelopePeriod = 2;
extern int OSMAFast = 5;
extern int OSMASlow = 30;
extern double OSMASignal = 2;
extern int Fast_Period = 25;
extern int Fast_Price = PRICE_OPEN;
extern int Slow_Period = 15;
extern int Slow_Price = PRICE_OPEN;
extern double DVBuySell = 0.003;
extern double DVStayOut = 0.024;
extern bool PrefSettings = true;
double divergence(int F_Period, int S_Period, int F_Price, int S_Price, int mypos)
{
int i;
//----
double maF1, maF2, maS1, maS2;
double dv1, dv2;
//----
maF1 = iMA(Symbol(), 0, F_Period, 0, MODE_SMA, F_Price, mypos);
maS1 = iMA(Symbol(), 0, S_Period, 0, MODE_SMA, S_Price, mypos);
dv1 = (maF1 - maS1);
maF2 = iMA(Symbol(), 0, F_Period, 0, MODE_SMA, F_Price, mypos + 1);
maS2 = iMA(Symbol(), 0, S_Period, 0, MODE_SMA, S_Price, mypos + 1);
dv2 = ((maF1 - maS1) - (maF2 - maS2));
//----
return(dv1 - dv2);
}
int nShift=0;
int init()
{
SetIndexStyle(0, DRAW_ARROW, 0, 1);
SetIndexArrow(0, 233);
SetIndexBuffer(0, ExtMapBuffer1);
SetIndexStyle(1, DRAW_ARROW, 0, 1);
SetIndexArrow(1, 234);
SetIndexBuffer(1, ExtMapBuffer2);
if(PrefSettings == true)
{
if((Symbol() == "USDJPY") || (Symbol() == "USDJPYm"))
{
Percent = 0.0032;
EnvelopePeriod = 2;
SMAPeriod = 2;
SMA2Bars = 18;
OSMAFast = 5;
OSMASlow = 22;
OSMASignal = 2;
Fast_Period = 25;
Slow_Period = 15;
DVBuySell = 0.0029;
DVStayOut = 0.024;
}
if((Symbol() == "EURJPY") || (Symbol() == "EURJPYm"))
{
Percent = 0.007;
EnvelopePeriod = 2;
SMAPeriod = 4;
SMA2Bars = 16;
OSMAFast = 11;
OSMASlow = 20;
OSMASignal = 14;
Fast_Period = 20;
Slow_Period = 10;
DVBuySell = 0.0078;
DVStayOut = 0.026;
}
if((Symbol() == "GBPJPY") || (Symbol() == "GBPJPYm"))
{
Percent = 0.0072;
EnvelopePeriod = 2;
SMAPeriod = 8;
SMA2Bars = 12;
OSMAFast = 5;
OSMASlow = 36;
OSMASignal = 10;
Fast_Period = 17;
Slow_Period = 28;
DVBuySell = 0.0034;
DVStayOut = 0.063;
}
if((Symbol() == "USDCHF") || (Symbol() == "USDCHFm"))
{
Percent = 0.0056;
EnvelopePeriod = 10;
SMAPeriod = 5;
SMA2Bars = 9;
OSMAFast = 5;
OSMASlow = 12;
OSMASignal = 11;
Fast_Period = 5;
Slow_Period = 20;
DVBuySell = 0.00022;
DVStayOut = 0.0015;
}
if((Symbol() == "GBPUSD") || (Symbol() == "GBPUSDm"))
{
Percent = 0.0023;
EnvelopePeriod = 6;
SMAPeriod = 3;
SMA2Bars = 14;
OSMAFast = 23;
OSMASlow = 17;
OSMASignal = 15;
Fast_Period = 25;
Slow_Period = 37;
DVBuySell = 0.00042;
DVStayOut = 0.05;
}
}
switch(Period())
{
case 1: nShift = 1; break;
case 5: nShift = 3; break;
case 15: nShift = 5; break;
case 30: nShift = 10; break;
case 60: nShift = 15; break;
case 240: nShift = 20; break;
case 1440: nShift = 80; break;
case 10080: nShift = 100; break;
case 43200: nShift = 200; break;
}
return(0);
}
int start()
{
int limit;
int counted_bars = IndicatorCounted();
if(counted_bars < 0) return(-1);
if(counted_bars > 0) counted_bars--;
limit = Bars - counted_bars;
for(int i = 0; i < limit; i++)
{
bool BuySignal1=false, SellSignal1=false;
double HighEnvelope1 = iEnvelopes(NULL,0,EnvelopePeriod,MODE_SMA,0,PRICE_CLOSE,Percent,MODE_UPPER,i+1);
double LowEnvelope1 = iEnvelopes(NULL,0,EnvelopePeriod,MODE_SMA,0,PRICE_CLOSE,Percent,MODE_LOWER,i+1);
double CloseBar1 = Close[i+1];
if(CloseBar1 > HighEnvelope1) {SellSignal1 = true;}
if(CloseBar1 < LowEnvelope1) {BuySignal1 = true;}
bool BuySignal2=false, SellSignal2=false;
double SMA1=iMA(NULL,0,SMAPeriod,0,MODE_SMA,5,i+1);
double SMA2=iMA(NULL,0,SMAPeriod,0,MODE_SMA,5,i+SMA2Bars);
if(SMA2-SMA1>0) {BuySignal2 = true;}
if(SMA2-SMA1<0) {SellSignal2 = true;}
bool BuySignal3=false, SellSignal3=false;
double OsMABar2=iOsMA(NULL,0,OSMASlow,OSMAFast,OSMASignal,PRICE_CLOSE,i+2);
double OsMABar1=iOsMA(NULL,0,OSMASlow,OSMAFast,OSMASignal,PRICE_CLOSE,i+1);
if(OsMABar2 > OsMABar1) {SellSignal3 = true;}
if(OsMABar2 < OsMABar1) {BuySignal3 = true;}
double diverge;
bool BuySignal4=false,SellSignal4=false;
diverge = divergence(Fast_Period, Slow_Period, Fast_Price, Slow_Price,i);
if(diverge >= DVBuySell && diverge <= DVStayOut)
{BuySignal4 = true;}
if(diverge <= (DVBuySell*(-1)) && diverge >= (DVStayOut*(-1)))
{SellSignal4 = true;}
if((SellSignal1==true) && (SellSignal2==true) && (SellSignal3==true) && (SellSignal4==true) )
{
ExtMapBuffer2[i] = High[i] + nShift*Point;
}
if((BuySignal1==true) && (BuySignal2==true) && (BuySignal3==true) && (BuySignal4==true) )
{
ExtMapBuffer1[i] = Low[i] - nShift*Point;
}
}
//----
return(0);
}
//+------------------------------------------------------------------+
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