RBCI_hist

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RBCI_hist

The script you are looking at is a specialized technical analysis tool designed to visualize specific price momentum trends on a trading platform. Below is a professional breakdown of how this logic works, explained in plain language for non-programmers.

Core Functionality

The primary purpose of this script is to generate a histogram (a series of vertical bars) that distinguishes between upward and downward market movements. It identifies these movements by performing complex mathematical calculations on past price data to determine the "strength" or "direction" of the current trend.

How the Logic Works

1. Historical Data Analysis Instead of simply looking at the most recent price, the script looks back at a specific window of historical data (determined by the CountBars setting). It examines the closing prices of previous candles to identify patterns that precede significant market shifts.

2. Weighted Calculations The heart of the script lies in its two distinct mathematical formulas:

  • Primary Trend Calculation: The script takes a large series of previous closing prices and assigns each one a specific "weight" (a positive or negative decimal). Some prices are given high importance, while others are given very little, and some are even treated as negative influences. This allows the script to "filter" out market noise and focus on the underlying price structure.
  • Comparative Analysis: The logic performs this weighted calculation twice: once for the current period and once for the immediate preceding period.

3. Identifying Directional Momentum The script then compares these two results. By subtracting one calculated value from the other, it determines the net momentum:

  • Upward Movement: If the primary trend calculation shows a higher positive momentum than the previous period, the script flags this as an "Up" movement. On your chart, this is represented by the Green histogram bars.
  • Downward Movement: If the calculation shows that momentum is decreasing or turning negative compared to the previous period, it flags this as a "Down" movement. These are represented by the Red histogram bars.

4. Visual Representation The script manages two separate visual layers (buffers). It ensures that at any given point in time, only one color is visible:

  • When the logic detects bullish momentum, it fills the "Up" buffer and hides the "Down" buffer.
  • When the logic detects bearish momentum, it fills the "Down" buffer and hides the "Up" buffer.

Summary for the User

In simple terms, this script acts as a momentum filter. It processes a long history of price points through a complex weighted formula to decide if the market is currently gaining or losing steam. Rather than showing you raw numbers, it provides a clean, color-coded visual guide: Green indicates the mathematical "weight" of the price is moving upward, and Red indicates it is moving downward.

Miscellaneous
Implements a curve of type %1
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RBCI_hist 
//+------------------------------------------------------------------+
//| RBCI_hist.mq4 
//| Ramdass - Conversion only
//+------------------------------------------------------------------+

#property indicator_separate_window
#property indicator_buffers 2
#property indicator_color1 Green
#property indicator_color2 Red

extern int CountBars=300;
//---- buffers
double Up[];
double Down[];
//+------------------------------------------------------------------+
//| Custom indicator initialization function                         |
//+------------------------------------------------------------------+
int init()
  {
   string short_name;
//---- indicator line
   IndicatorBuffers(2);
   SetIndexStyle(0,DRAW_HISTOGRAM);
   SetIndexBuffer(0,Up);
   SetIndexStyle(1,DRAW_HISTOGRAM);
   SetIndexBuffer(1,Down);
//----
   return(0);
  }
//+------------------------------------------------------------------+
//| RBCI                                                             |
//+------------------------------------------------------------------+
int start()
  {
   SetIndexDrawBegin(0,Bars-CountBars+73);
   SetIndexDrawBegin(1,Bars-CountBars+73);
   int i,i2,counted_bars=IndicatorCounted();
   double RBCI,RBCI1,value1,value2,value3,value4;
//----
   if(CountBars<=73) return(0);
//---- initial zero
   if(counted_bars<73)
   {
      for(i=1;i<=0;i++) Up[CountBars-i]=0.0;
      for(i=1;i<=0;i++) Down[CountBars-i]=0.0;
   }
//----
   i=CountBars-73-1;
//   if(counted_bars>=73) i=Bars-counted_bars-1;
   while(i>=0)
     {

value2 = 
0.08269258*Close[i+0]
+0.08210489*Close[i+1]
+0.08093874*Close[i+2]
+0.07921003*Close[i+3]
+0.07694005*Close[i+4]
+0.07415944*Close[i+5]
+0.07090508*Close[i+6]
+0.06722010*Close[i+7]
+0.06314921*Close[i+8]
+0.05874928*Close[i+9]
+0.05407277*Close[i+10]
+0.04918011*Close[i+11]
+0.04413127*Close[i+12]
+0.03898817*Close[i+13]
+0.03381087*Close[i+14]
+0.02866037*Close[i+15]
+0.02359602*Close[i+16]
+0.01867285*Close[i+17]
+0.01394154*Close[i+18]
+0.00945020*Close[i+19]
+0.00524380*Close[i+20]
+0.00135856*Close[i+21]
-0.00217576*Close[i+22]
-0.00533362*Close[i+23]
-0.00809235*Close[i+24]
-0.01044596*Close[i+25]
-0.01238246*Close[i+26]
-0.01390515*Close[i+27]
-0.01501922*Close[i+28]
-0.01573813*Close[i+29]
-0.01607903*Close[i+30]
-0.01606501*Close[i+31]
-0.01572265*Close[i+32]
-0.01508076*Close[i+33]
-0.01417155*Close[i+34]
-0.01303199*Close[i+35]
-0.01170149*Close[i+36]
-0.01021570*Close[i+37]
-0.00860941*Close[i+38]
-0.00692232*Close[i+39]
-0.00519812*Close[i+40]
-0.00345733*Close[i+41]
-0.00174477*Close[i+42]
-0.00008354*Close[i+43]
+0.00149695*Close[i+44]
+0.00297402*Close[i+45]
+0.00432644*Close[i+46]
+0.00553786*Close[i+47]
+0.00659613*Close[i+48]
+0.00749328*Close[i+49]
+0.00822608*Close[i+50]
+0.00879528*Close[i+51]
+0.00920238*Close[i+52]
+0.00944568*Close[i+53]
+0.00952717*Close[i+54]
+0.00946588*Close[i+55]
+0.00929962*Close[i+56]
+0.00898757*Close[i+57]
+0.00859207*Close[i+58]
+0.00810829*Close[i+59]
+0.00755924*Close[i+60]
+0.00696141*Close[i+61]
+0.00633350*Close[i+62]
+0.00569343*Close[i+63]
+0.00505929*Close[i+64]
+0.00444999*Close[i+65]
+0.00388521*Close[i+66]
+0.00338555*Close[i+67]
+0.00297397*Close[i+68]
+0.00267839*Close[i+69]
+0.00253170*Close[i+70]
+0.00257620*Close[i+71]
-0.00816217*Close[i+72];

value1 = 
0.36423990*Close[i+0]
+0.33441085*Close[i+1]
+0.25372851*Close[i+2]
+0.14548806*Close[i+3]
+0.03934469*Close[i+4]
-0.03871426*Close[i+5]
-0.07451349*Close[i+6]
-0.06903411*Close[i+7]
-0.03611022*Close[i+8]
+0.00422528*Close[i+9]
+0.03382809*Close[i+10]
+0.04267885*Close[i+11]
+0.03120441*Close[i+12]
+0.00816037*Close[i+13]
-0.01442877*Close[i+14]
-0.02678947*Close[i+15]
-0.02525534*Close[i+16]
-0.01272910*Close[i+17]
+0.00350063*Close[i+18]
+0.01565175*Close[i+19]
+0.01895659*Close[i+20]
+0.01328613*Close[i+21]
+0.00252297*Close[i+22]
-0.00775517*Close[i+23]
-0.01301467*Close[i+24]
-0.01164808*Close[i+25]
-0.00527241*Close[i+26]
+0.00248750*Close[i+27]
+0.00793380*Close[i+28]
+0.00897632*Close[i+29]
+0.00583939*Close[i+30]
+0.00059669*Close[i+31]
-0.00405186*Close[i+32]
-0.00610944*Close[i+33]
-0.00509042*Close[i+34]
-0.00198138*Close[i+35]
+0.00144873*Close[i+36]
+0.00373774*Close[i+37]
+0.01047723*Close[i+38]
-0.00022625*Close[i+39];



value4 = 
0.08269258*Close[i+0+1]
+0.08210489*Close[i+1+1]
+0.08093874*Close[i+2+1]
+0.07921003*Close[i+3+1]
+0.07694005*Close[i+4+1]
+0.07415944*Close[i+5+1]
+0.07090508*Close[i+6+1]
+0.06722010*Close[i+7+1]
+0.06314921*Close[i+8+1]
+0.05874928*Close[i+9+1]
+0.05407277*Close[i+10+1]
+0.04918011*Close[i+11+1]
+0.04413127*Close[i+12+1]
+0.03898817*Close[i+13+1]
+0.03381087*Close[i+14+1]
+0.02866037*Close[i+15+1]
+0.02359602*Close[i+16+1]
+0.01867285*Close[i+17+1]
+0.01394154*Close[i+18+1]
+0.00945020*Close[i+19+1]
+0.00524380*Close[i+20+1]
+0.00135856*Close[i+21+1]
-0.00217576*Close[i+22+1]
-0.00533362*Close[i+23+1]
-0.00809235*Close[i+24+1]
-0.01044596*Close[i+25+1]
-0.01238246*Close[i+26+1]
-0.01390515*Close[i+27+1]
-0.01501922*Close[i+28+1]
-0.01573813*Close[i+29+1]
-0.01607903*Close[i+30+1]
-0.01606501*Close[i+31+1]
-0.01572265*Close[i+32+1]
-0.01508076*Close[i+33+1]
-0.01417155*Close[i+34+1]
-0.01303199*Close[i+35+1]
-0.01170149*Close[i+36+1]
-0.01021570*Close[i+37+1]
-0.00860941*Close[i+38+1]
-0.00692232*Close[i+39+1]
-0.00519812*Close[i+40+1]
-0.00345733*Close[i+41+1]
-0.00174477*Close[i+42+1]
-0.00008354*Close[i+43+1]
+0.00149695*Close[i+44+1]
+0.00297402*Close[i+45+1]
+0.00432644*Close[i+46+1]
+0.00553786*Close[i+47+1]
+0.00659613*Close[i+48+1]
+0.00749328*Close[i+49+1]
+0.00822608*Close[i+50+1]
+0.00879528*Close[i+51+1]
+0.00920238*Close[i+52+1]
+0.00944568*Close[i+53+1]
+0.00952717*Close[i+54+1]
+0.00946588*Close[i+55+1]
+0.00929962*Close[i+56+1]
+0.00898757*Close[i+57+1]
+0.00859207*Close[i+58+1]
+0.00810829*Close[i+59+1]
+0.00755924*Close[i+60+1]
+0.00696141*Close[i+61+1]
+0.00633350*Close[i+62+1]
+0.00569343*Close[i+63+1]
+0.00505929*Close[i+64+1]
+0.00444999*Close[i+65+1]
+0.00388521*Close[i+66+1]
+0.00338555*Close[i+67+1]
+0.00297397*Close[i+68+1]
+0.00267839*Close[i+69+1]
+0.00253170*Close[i+70+1]
+0.00257620*Close[i+71+1]
-0.00816217*Close[i+72+1];

value3 = 
0.36423990*Close[i+0+1]
+0.33441085*Close[i+1+1]
+0.25372851*Close[i+2+1]
+0.14548806*Close[i+3+1]
+0.03934469*Close[i+4+1]
-0.03871426*Close[i+5+1]
-0.07451349*Close[i+6+1]
-0.06903411*Close[i+7+1]
-0.03611022*Close[i+8+1]
+0.00422528*Close[i+9+1]
+0.03382809*Close[i+10+1]
+0.04267885*Close[i+11+1]
+0.03120441*Close[i+12+1]
+0.00816037*Close[i+13+1]
-0.01442877*Close[i+14+1]
-0.02678947*Close[i+15+1]
-0.02525534*Close[i+16+1]
-0.01272910*Close[i+17+1]
+0.00350063*Close[i+18+1]
+0.01565175*Close[i+19+1]
+0.01895659*Close[i+20+1]
+0.01328613*Close[i+21+1]
+0.00252297*Close[i+22+1]
-0.00775517*Close[i+23+1]
-0.01301467*Close[i+24+1]
-0.01164808*Close[i+25+1]
-0.00527241*Close[i+26+1]
+0.00248750*Close[i+27+1]
+0.00793380*Close[i+28+1]
+0.00897632*Close[i+29+1]
+0.00583939*Close[i+30+1]
+0.00059669*Close[i+31+1]
-0.00405186*Close[i+32+1]
-0.00610944*Close[i+33+1]
-0.00509042*Close[i+34+1]
-0.00198138*Close[i+35+1]
+0.00144873*Close[i+36+1]
+0.00373774*Close[i+37+1]
+0.01047723*Close[i+38+1]
-0.00022625*Close[i+39+1];



RBCI=value1-value2;
RBCI1=value3-value4;


if (RBCI>RBCI1) {Up[i]=RBCI;Down[i]=0.0;} else {Down[i]=RBCI;Up[i]=0.0;}

      i--;
     }
   return(0);
  }
//+------------------------------------------------------------------+

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