RBCI
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This script functions as a custom technical analysis indicator designed to provide traders with a smoothed visual representation of price action. Instead of plotting directly on the main price chart, it creates a dedicated sub-window where it displays a unique mathematical line.
Core Logic and Data Processing
The primary objective of this tool is to analyze the relationship between current market prices and historical data over a specific look-back period. Here is how the logic flows:
- Input Data Collection: The indicator looks at the "Close" price of the last 56 candles (or bars) on the chart. This allows it to capture a significant amount of recent market history to determine current trends.
- Weighting System: Rather than treating every candle equally, the script applies a specific "weight" to each of the 56 data points. Each historical price is multiplied by a unique numerical coefficient (some positive, some negative). This suggests that certain points in time have a greater influence on the final result than others.
- Aggregation: The script sums all these weighted values together to produce a single cumulative figure for each point in time. By doing this, it filters out minor "noise" and highlights the underlying momentum of the asset.
- Visual Output: The final result is plotted as a continuous blue line. Because it uses a large pool of data (56 bars) and complex weighting, the resulting line is designed to be much smoother than the raw price action, helping traders identify broader trends more clearly.
Operational Requirements
For the indicator to function correctly, there are two specific technical requirements handled by the logic:
- Minimum Data Threshold: The script requires a minimum of 55 bars of history to exist on the chart before it will begin to draw. If the chart is too new or has too little data, the indicator remains inactive.
- Buffer Management: It manages an internal memory buffer to ensure that as new candles form in real-time, the line updates smoothly without overlapping or skipping historical data points.
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RBCI
//+------------------------------------------------------------------+
//| RBCI.mq4
//|
//+------------------------------------------------------------------+
#property copyright "Copyright 2002, Finware.ru Ltd."
#property link "http://www.finware.ru/"
#property indicator_separate_window
#property indicator_buffers 1
#property indicator_color1 Blue
//---- buffers
double RBCIBuffer[];
//+------------------------------------------------------------------+
//| Custom indicator initialization function |
//+------------------------------------------------------------------+
int init()
{
string short_name;
//---- indicator line
SetIndexStyle(0,DRAW_LINE);
SetIndexBuffer(0,RBCIBuffer);
SetIndexDrawBegin(0,55);
//----
return(0);
}
//+------------------------------------------------------------------+
//| RBCI |
//+------------------------------------------------------------------+
int start()
{
int i,counted_bars=IndicatorCounted();
//----
if(Bars<=55) return(0);
//---- initial zero
if(counted_bars<55)
for(i=1;i<=0;i++) RBCIBuffer[Bars-i]=0.0;
//----
i=Bars-55-1;
if(counted_bars>=55) i=Bars-counted_bars-1;
while(i>=0)
{
RBCIBuffer[i]=
-(
-35.5241819400*Close[i+0]
-29.3339896500*Close[i+1]
-18.4277449600*Close[i+2]
-5.3418475670*Close[i+3]
+7.0231636950*Close[i+4]
+16.1762815600*Close[i+5]
+20.6566210400*Close[i+6]
+20.3266115800*Close[i+7]
+16.2702390600*Close[i+8]
+10.3524012700*Close[i+9]
+4.5964239920*Close[i+10]
+0.5817527531*Close[i+11]
-0.9559211961*Close[i+12]
-0.2191111431*Close[i+13]
+1.8617342810*Close[i+14]
+4.0433304300*Close[i+15]
+5.2342243280*Close[i+16]
+4.8510862920*Close[i+17]
+2.9604408870*Close[i+18]
+0.1815496232*Close[i+19]
-2.5919387010*Close[i+20]
-4.5358834460*Close[i+21]
-5.1808556950*Close[i+22]
-4.5422535300*Close[i+23]
-3.0671459820*Close[i+24]
-1.4310126580*Close[i+25]
-0.2740437883*Close[i+26]
+0.0260722294*Close[i+27]
-0.5359717954*Close[i+28]
-1.6274916400*Close[i+29]
-2.7322958560*Close[i+30]
-3.3589596820*Close[i+31]
-3.2216514550*Close[i+32]
-2.3326257940*Close[i+33]
-0.9760510577*Close[i+34]
+0.4132650195*Close[i+35]
+1.4202166770*Close[i+36]
+1.7969987350*Close[i+37]
+1.5412722800*Close[i+38]
+0.8771442423*Close[i+39]
+0.1561848839*Close[i+40]
-0.2797065802*Close[i+41]
-0.2245901578*Close[i+42]
+0.3278853523*Close[i+43]
+1.1887841480*Close[i+44]
+2.0577410750*Close[i+45]
+2.6270409820*Close[i+46]
+2.6973742340*Close[i+47]
+2.2289941280*Close[i+48]
+1.3536792430*Close[i+49]
+0.3089253193*Close[i+50]
-0.6386689841*Close[i+51]
-1.2766707670*Close[i+52]
-1.5136918450*Close[i+53]
-1.3775160780*Close[i+54]
-1.6156173970*Close[i+55]);
i--;
}
return(0);
}
//+------------------------------------------------------------------+
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