Slope Direction Line Alert
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This script is designed as a visual trend-tracking tool for MetaTrader 4, specifically engineered to identify the direction and momentum of price movements. Rather than simply following the price, it uses a multi-layered mathematical approach to filter out "noise" and highlight the underlying trend slope.
Core Logic and Methodology
The indicator operates through a three-step processing sequence:
1. Signal Processing (Velocity Calculation) Instead of looking at raw prices, the script first calculates a "vector." It does this by comparing two different weighted moving averages of different lengths. By subtracting one from the other, the script identifies the momentum of the market. This effectively highlights how fast the price is moving in a specific direction.
2. Smoothing (Trend Mapping) To ensure the signals are not erratic or overly sensitive to small price fluctuations, the script applies a secondary calculation on that momentum vector. It "smooths" the data, creating a stable trend line that represents the actual slope of the market's current trajectory.
3. Trend Identification and Visualization Finally, the script analyzes this smoothed trend line to determine the market's state:
- Uptrend: When the slope moves upward, it highlights the trend in one color (Orange).
- Downtrend: When the slope moves downward, it highlights the trend in another color (Red/Blue).
Key Features for the User
- Visual Clarity: The script provides a clear visual representation of the trend on your chart, making it easier to see whether the market is currently favoring "long" (buy) or "short" (sell) positions.
- Real-Time Alerts: The logic includes an automated notification system. When the script detects a definitive shift in the trend—switching from upward to downward or vice versa—it can trigger an audible alert on your computer and send an email notification.
- New Bar Detection: To prevent "false signals" that occur while a candle is still forming, the alert system is designed to only trigger at the opening of a new price candle. This ensures that you receive notifications based on completed market movements rather than flickering, unfinished data.
Summary for Traders
Essentially, this tool acts as a sophisticated filter. It takes raw market movement, calculates its speed and direction, smooths out the "jitter" of everyday price action, and paints a clear path on your screen to show you where the trend is heading, providing alerts the moment that trend flips.
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Slope Direction Line Alert
//+------------------------------------------------------------------+
//| HMA.mq4
//| Copyright © 2006 WizardSerg <wizardserg@mail.ru>, ?? ??????? ForexMagazine #104
//| wizardserg@mail.ru
//| Revised by IgorAD,igorad2003@yahoo.co.uk |
//| Personalized by iGoR AKA FXiGoR for the Trend Slope Trading method (T_S_T)
//| Link:
//| contact: thefuturemaster@hotmail.com
//+------------------------------------------------------------------+
#property copyright "MT4 release WizardSerg <wizardserg@mail.ru>, ?? ??????? ForexMagazine #104"
#property link "wizardserg@mail.ru"
#property indicator_chart_window
#property indicator_buffers 3
#property indicator_color2 Blue
#property indicator_color3 Red
#property indicator_color1 Orange
#property indicator_width1 1
#property indicator_width2 1
#property indicator_width3 1
//---- input parameters
extern int period=20;
extern int method=1; // MODE_SMA
extern int price=0; // PRICE_CLOSE
extern int EmailON=0; // 0 = false 1 = true
extern int SoundON=1; // 0 = false 1 = true
//---- buffers
double Uptrend[];
double Dntrend[];
double ExtMapBuffer[];
double buff[];
//+------------------------------------------------------------------+
//| Custom indicator initialization function |
//+------------------------------------------------------------------+
int init()
{
IndicatorBuffers(3);
SetIndexBuffer(1, Uptrend);
//ArraySetAsSeries(Uptrend, true);
SetIndexBuffer(2, Dntrend);
//ArraySetAsSeries(Dntrend, true);
//SetIndexBuffer(2, ExtMapBuffer);
//ArraySetAsSeries(Uptrend, true);
SetIndexBuffer(0, ExtMapBuffer);
ArraySetAsSeries(ExtMapBuffer, true);
SetIndexStyle(0,DRAW_LINE);
SetIndexStyle(1,DRAW_LINE);
SetIndexStyle(2,DRAW_LINE);
IndicatorShortName("Slope Direction Line("+period+")");
return(0);
}
//+------------------------------------------------------------------+
//| Custor indicator deinitialization function |
//+------------------------------------------------------------------+
int deinit()
{
// ???? ????? ?????? ??????
return(0);
}
//+------------------------------------------------------------------+
//| ?????????? ??????? |
//+------------------------------------------------------------------+
double WMA(int x, int p)
{
return(iMA(NULL, 0, p, 0, method, price, x));
}
//+------------------------------------------------------------------+
//| Custom indicator iteration function |
//+------------------------------------------------------------------+
int start()
{
int counted_bars = IndicatorCounted();
if(counted_bars < 0)
return(-1);
int x = 0;
int p = MathSqrt(period);
int e = Bars - counted_bars + period + 1;
double vect[], trend[];
if(e > Bars)
e = Bars;
ArrayResize(vect, e);
ArraySetAsSeries(vect, true);
ArrayResize(trend, e);
ArraySetAsSeries(trend, true);
for(x = 0; x < e; x++)
{
vect[x] = 2*WMA(x, period/2) - WMA(x, period);
// Print("Bar date/time: ", TimeToStr(Time[x]), " close: ", Close[x], " vect[", x, "] = ", vect[x], " 2*WMA(p/2) = ", 2*WMA(x, period/2), " WMA(p) = ", WMA(x, period));
}
for(x = 0; x < e-period; x++)
ExtMapBuffer[x] = iMAOnArray(vect, 0, p, 0, method, x);
for(x = e-period; x >= 0; x--)
{
trend[x] = trend[x+1];
if (ExtMapBuffer[x]> ExtMapBuffer[x+1]) trend[x] =1;
if (ExtMapBuffer[x]< ExtMapBuffer[x+1]) trend[x] =-1;
if (trend[x]>0)
{ Uptrend[x] = ExtMapBuffer[x];
if (trend[x+1]<0) Uptrend[x+1]=ExtMapBuffer[x+1];
Dntrend[x] = EMPTY_VALUE;
}
else
if (trend[x]<0)
{
Dntrend[x] = ExtMapBuffer[x];
if (trend[x+1]>0) Dntrend[x+1]=ExtMapBuffer[x+1];
Uptrend[x] = EMPTY_VALUE;
}
buff[x] = trend[x];
//Print( " trend=",trend[x]);
}
if (EmailON==1 && Dntrend[0] != EMPTY_VALUE && Dntrend[1] == EMPTY_VALUE && isNewBar())
{
if (SoundON==1) Alert("SELL signal at Ask=",Ask,", Bid=",Bid,", Date=",TimeToStr(CurTime(),TIME_DATE)," ",TimeHour(CurTime()),":",TimeMinute(CurTime())," Symbol=",Symbol()," Period=",Period());
SendMail("SELL signal alert","SELL signal at Ask="+DoubleToStr(Ask,4)+", Bid="+DoubleToStr(Bid,4)+", Date="+TimeToStr(CurTime(),TIME_DATE)+" "+TimeHour(CurTime())+":"+TimeMinute(CurTime())+" Symbol="+Symbol()+" Period="+Period());
}
if (EmailON==1 && Uptrend[0] != EMPTY_VALUE && Uptrend[1] == EMPTY_VALUE && isNewBar())
{
if (SoundON==1) Alert("BUY signal at Ask=",Ask,", Bid=",Bid,", Time=",TimeToStr(CurTime(),TIME_DATE)," ",TimeHour(CurTime()),":",TimeMinute(CurTime())," Symbol=",Symbol()," Period=",Period());
SendMail("BUY signal alert","BUY signal at Ask="+DoubleToStr(Ask,4)+", Bid="+DoubleToStr(Bid,4)+", Date="+TimeToStr(CurTime(),TIME_DATE)+" "+TimeHour(CurTime())+":"+TimeMinute(CurTime())+" Symbol="+Symbol()+" Period="+Period());
}
return(0);
}
bool isNewBar()
{
static datetime lastbar=0;
datetime curbar = Time[0];
if(lastbar!=curbar)
{
lastbar=curbar;
return (true);
}
else
{
return(false);
}
}
//+------------------------------------------------------------------+
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