Stochastic3_v2
Download script
This script is designed as a multi-timeframe technical analysis tool for MetaTrader 4. Its primary purpose is to provide traders with a comprehensive view of market momentum by simultaneously analyzing three different timeframes at once, rather than relying on a single chart view.
Core Functionality
Multi-Timeframe Integration The logic automatically identifies the timeframe you are currently viewing and then searches for the next logical higher timeframes (for example, if you are looking at a 15-minute chart, it will also pull data from the 60-minute, 4-hour, and Daily charts). It dynamically adjusts based on your current view to ensure that the tool always provides a relevant "big picture" perspective.
The Stochastic Calculation For each of these identified timeframes, the script calculates a "Stochastic Oscillator." This is a momentum indicator that measures where the price is relative to its recent range. The script captures the main value for each timeframe and combines them into a single consolidated data point.
The Average Signal The primary output of this tool is an Average Signal. By averaging the results of the multiple timeframes together, the script smooths out "noise" from shorter periods and highlights stronger trends that are confirmed across different time horizons. This helps traders identify whether a move is just a temporary fluctuation or part of a broader market trend.
Visual Indicators and Alerts The tool provides several visual cues on your chart:
- Trend Lines: It plots specific lines for each individual timeframe involved in the calculation.
- Signal Line: A primary line represents the averaged data across all timeframes.
- Overbought/Oversold Zones: The script monitors two critical thresholds:
- Upper Zone (80): When the average signal rises above 80, it indicates the market may be overbought.
- Lower Zone (20): When the average signal drops below 20, it indicates the market may be oversold.
- Automated Alerts: If you enable the alert feature, the script will send a notification to your platform whenever the averaged signal crosses into these extreme overbought or oversold territories, allowing you to monitor the market without constantly watching the screen.
Summary for the User
In simple terms, this script acts as a "weather forecast" for different layers of the market. Instead of just telling you if it is raining right now (the current chart), it looks at the immediate clouds, the regional weather, and the national climate all at once to give you a highly reliable average of where the market is headed.
//+------------------------------------------------------------------+
//| Stochastic3_v2.mq4 |
//| Copyright © 2009, Vladimir Hlystov |
//+------------------------------------------------------------------+
#property copyright "Copyright © 2009, Vladimir Hlystov"
#property link "cmillion@narod.ru"
//+------------------------------------------------------------------+
extern bool AlertON = false;
//+------------------------------------------------------------------+
#property indicator_separate_window
#property indicator_minimum 0
#property indicator_maximum 100
#property indicator_level1 20
#property indicator_level3 50
#property indicator_level2 80
#property indicator_levelcolor Silver
#property indicator_levelwidth 0
#property indicator_levelstyle 2
#property indicator_buffers 6
#property indicator_color1 Maroon
#property indicator_style1 2
#property indicator_color2 DarkGreen
#property indicator_style2 2
#property indicator_color3 Navy
#property indicator_style3 2
#property indicator_color4 Orange
#property indicator_width4 2
#property indicator_color5 Green
#property indicator_width5 2
#property indicator_color6 Red
#property indicator_width6 2
//---- buffers
double SignalBuffer[];
double BUFFER_1[];
double BUFFER_2[];
double BUFFER_3[];
double GREEN[];
double RED[];
int per1;
int per2;
int per3;
int n=3;
//+------------------------------------------------------------------+
//| Custom indicator initialization function |
//+------------------------------------------------------------------+
int init()
{
ObjectCreate("on", OBJ_LABEL, 1, 0, 0);// Ñîçäàíèå îáú.
ObjectSet("on", OBJPROP_CORNER, 0);
ObjectSet("on", OBJPROP_XDISTANCE, 10);
ObjectSet("on", OBJPROP_YDISTANCE, 15);
if (AlertON)ObjectSetText("on","Alert ON",8,"Arial",Blue);
else ObjectSetText("on","Alert OFF",8,"Arial",Red);
//---- indicator lines
SetIndexStyle(0,DRAW_LINE);
SetIndexBuffer(0, BUFFER_1);
SetIndexStyle(1,DRAW_LINE);
SetIndexBuffer(1, BUFFER_2);
SetIndexStyle(2,DRAW_LINE);
SetIndexBuffer(2, BUFFER_3);
SetIndexStyle(3,DRAW_LINE);
SetIndexBuffer(3, SignalBuffer);
SetIndexStyle(4,DRAW_LINE);
SetIndexBuffer(4, GREEN);
SetIndexStyle(5,DRAW_LINE);
SetIndexBuffer(5, RED);
//---- name for DataWindow and indicator subwindow label
per1=Period();
per2 = next_period(per1+1);
if (per2==0) n=1;
per3 = next_period(per2+1);
if (per3==0&&per2!=0) n=2;
SetIndexLabel(0, string_ïåð(per1));
SetIndexLabel(1, string_ïåð(per2));
SetIndexLabel(2, string_ïåð(per3));
SetIndexLabel(3, "Average");
IndicatorShortName("Stochastic 3("+string_ïåð(per1)+""+string_ïåð(per2)+""+string_ïåð(per3)+")");
return(0);
}
//+------------------------------------------------------------------+
//| Stochastic oscillator |
//+------------------------------------------------------------------+
int start()
{
int counted_bars=IndicatorCounted();
if(counted_bars>0) counted_bars--;
int limit=Bars-counted_bars;
for(int i=0; i<limit; i++)
{
BUFFER_1[i] = iStochastic(NULL,per1 ,5,3,3,MODE_SMA,0,MODE_MAIN,iBarShift(NULL,per1 ,Time[i],false));
if (n>1) BUFFER_2[i] = iStochastic(NULL,per2 ,5,3,3,MODE_SMA,0,MODE_MAIN,iBarShift(NULL,per2 ,Time[i],false));
if (n>2) BUFFER_3[i] = iStochastic(NULL,per3 ,5,3,3,MODE_SMA,0,MODE_MAIN,iBarShift(NULL,per3 ,Time[i],false));
if (n==3) SignalBuffer[i] = (BUFFER_1[i]+BUFFER_2[i]+BUFFER_3[i])/n;
if (n==2) SignalBuffer[i] = (BUFFER_1[i]+BUFFER_2[i])/n;
if (n==1) SignalBuffer[i] = BUFFER_1[i];
if (SignalBuffer[i]>80) {GREEN[i]=SignalBuffer[i];if (AlertON&&i<2) Alert(Symbol()+" Stochastic 3 = "+DoubleToStr(SignalBuffer[i],2));}
if (SignalBuffer[i]<20) {RED [i]=SignalBuffer[i];if (AlertON&&i<2) Alert(Symbol()+" Stochastic 3 = "+DoubleToStr(SignalBuffer[i],2));}
}
return(0);
}
//+------------------------------------------------------------------+
int next_period(int per)
{
if (per > 43200) return(0);
if (per > 10080) return(43200);
if (per > 1440) return(10080);
if (per > 240) return(1440);
if (per > 60) return(240);
if (per > 30) return(60);
if (per > 15) return(30);
if (per > 5) return(15);
if (per > 1) return(5);
}
//+------------------------------------------------------------------+
string string_ïåð(int per)
{
if (per == 1) return(" M1 ");
if (per == 5) return(" M5 ");
if (per == 15) return(" M15 ");
if (per == 30) return(" M30 ");
if (per == 60) return(" H1 ");
if (per == 240) return(" H4 ");
if (per == 1440) return(" D1 ");
if (per == 10080) return(" W1 ");
if (per == 43200) return(" MN1 ");
return("îøèáêà ïåðèîäà");
}
//+------------------------------------------------------------------+
int deinit()
{
ObjectDelete("on");
}
//+------------------------------------------------------------------+
Comments