T3 TRIX_v1
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This script is a specialized technical analysis tool designed for the MetaTrader platform. It calculates and visualizes specific momentum signals to help traders identify trends and potential turning points in market price action.
Core Concept: Double Momentum Analysis
The logic of this tool centers on calculating two distinct types of "T3" smoothed values. In technical analysis, the T3 moving average is known for being much smoother than standard averages while maintaining less "lag," making it more responsive to actual price movements.
This script goes a step further by analyzing the Rate of Change (ROC). Instead of just looking at the price level, it measures how fast those smoothed prices are moving up or down.
How the Logic Works
The tool processes data through several layers:
-
Smoothing and Weighting: The script uses two different periods (adjustable by the user) to create two separate mathematical "streams." It calculates these using a weighted logic that accounts for the relationship between current prices and historical price data.
-
Momentum Calculation: It takes those smoothed streams and determines their velocity. By calculating the percentage change between the current smoothed value and the previous one, it identifies the "momentum" of the market.
-
Comparative Visualization: The script plots these two momentum calculations as lines in a separate window on your chart:
- Line 1 (DeepSkyBlue): Represents the primary momentum signal based on the first period.
- Line 2 (Blue): Depending on your settings, this represents either the momentum of the second period or a combined momentum of both periods.
Automated Alerts and Signals
Beyond just drawing lines on a chart, the script includes an automated logic engine to monitor these movements in real-time:
- Crossover Logic: The script constantly compares the current values of both lines against their previous values. If the lines cross each other significantly (controlled by an "alert factor" setting), the system triggers a notification.
- Buy/Sell Notifications:
- It identifies potential "Close Buy" and "Close Sell" signals based on when one momentum line shifts from being above the other to below it (or vice versa).
- It also detects "Equal" states where the two momentum streams align perfectly.
- Frequency Control: To prevent the tool from overwhelming you with constant notifications, it includes a time-based filter that ensures alerts are only triggered at specific intervals rather than every single second of price movement.
Summary for the User
In short, this is a momentum crossover tool. It smooths out market "noise" to reveal the underlying speed of price trends. When the two calculated momentum lines cross or diverge, it provides visual and audible cues that the strength of the current trend may be shifting, helping you decide when to enter or exit a position.
//+------------------------------------------------------------------+
//| T3 TRIX (ROC of T6).mq4 |
//| convert FinGeR Alex orginal by Luis Damiani |
//| |
//+------------------------------------------------------------------+
#property copyright "convert FinGeR Alex orginal by Luis Damiani"
#property link ""
#property indicator_separate_window
#property indicator_buffers 2
#property indicator_color1 DeepSkyBlue
#property indicator_color2 Blue
//---- input parameters
extern int A_t3_period=18;
extern int num_bars=350;
extern int is_A_open_price=0;
extern int B_t3_period_ac=10;
extern int diferential=0;
extern double hot=0.7;
//---- buffers
double ExtMapBuffer1[];
double ExtMapBuffer2[];
int PrevAlertTime = 0;
extern int alert_factor = 100;
//+------------------------------------------------------------------+
//| Custom indicator initialization function |
//+------------------------------------------------------------------+
int init()
{
//---- indicators
SetIndexStyle(0,DRAW_LINE);
SetIndexBuffer(0,ExtMapBuffer1);
SetIndexStyle(1,DRAW_LINE);
SetIndexBuffer(1,ExtMapBuffer2);
//----
return(0);
}
//+------------------------------------------------------------------+
//| Custor indicator deinitialization function |
//+------------------------------------------------------------------+
int deinit()
{
//----
//----
return(0);
}
//+------------------------------------------------------------------+
//| Custom indicator iteration function |
//+------------------------------------------------------------------+
int start()
{
int shift=0;
double A_t3=0,A_t3_1=0,max_per=0;
double B_t3=0,B_t3_1=0;
double e1=0,e2=0,e3=0,e4=0,e5=0,e6=0,c1=0,c2=0,c3=0,c4=0;
double e1x=0,e2x=0,e3x=0,e4x=0,e5x=0,e6x=0;
double d1=0,d2=0,d3=0,d4=0,d5=0,d6=0;
double d1x=0,d2x=0,d3x=0,d4x=0,d5x=0,d6x=0;
double n=0,A_w1=0,A_w2=0,B_w1=0,B_w2=0,b2=0,b3=0;
double init=true;
double bar=0, prevbars=0, start=0, cs=0, prevcs=0,frame=0;
string commodt="nonono";
int counted_bars=IndicatorCounted();
cs = num_bars+A_t3_period+is_A_open_price+B_t3_period_ac+diferential+hot;
if (cs==prevcs && commodt==Symbol() && frame==Time[4]-Time[5] && Bars-prevbars<2)
start=Bars-prevbars;
else start=-1;
commodt=Symbol();
frame=Time[4]-Time[5];
prevbars = Bars;
prevcs = cs;
if (start==1 || start==0) bar=start; else init=true;
if (init==true)
{
b2=hot*hot;
b3=b2*hot;
c1=-b3;
c2=(3*(b2+b3));
c3=-3*(2*b2+hot+b3);
c4=(1+3*hot+b3+3*b2);
n=A_t3_period;
if (n<1) n=1;
n = 1 + 0.5*(n-1);
A_w1 = 2 / (n + 1);
A_w2 = 1 - A_w1;
n=B_t3_period_ac;
if (n<1) n=1;
n = 1 + 0.5*(n-1);
B_w1 = 2 / (n + 1);
B_w2 = 1 - B_w1;
ExtMapBuffer1[num_bars-1]=0;
e1x=0;e2x=0;e3x=0;e4x=0;e5x=0;e6x=0;
ExtMapBuffer2[num_bars-1]=0;
d1x=0;d2x=0;d3x=0;d4x=0;d5x=0;d6x=0;
// max_per=max(A_t3_period,B_t3_period_ac);
bar=num_bars-2;
init=false;
}
//SetLoopCount(0);
shift=bar;
while(shift>=0)
{
if ( is_A_open_price==1 ) d1 = A_w1*Open[shift] + A_w2*d1x;
else d1 = A_w1*Close[shift] + A_w2*d1x;
d2 = A_w1*d1 + A_w2*d2x;
d3 = A_w1*d2 + A_w2*d3x;
d4 = A_w1*d3 + A_w2*d4x;
d5 = A_w1*d4 + A_w2*d5x;
d6 = A_w1*d5 + A_w2*d6x;
A_t3 = c1*d6 + c2*d5 + c3*d4 + c4*d3;
if ((start==1 && shift==1) || start==-1 )
{
d1x=d1;
d2x=d2;
d3x=d3;
d4x=d4;
d5x=d5;
d6x=d6;
}
e1 = B_w1*Close[shift] + B_w2*e1x;
e2 = B_w1*e1 + B_w2*e2x;
e3 = B_w1*e2 + B_w2*e3x;
e4 = B_w1*e3 + B_w2*e4x;
e5 = B_w1*e4 + B_w2*e5x;
e6 = B_w1*e5 + B_w2*e6x;
B_t3 = c1*e6 + c2*e5 + c3*e4 + c4*e3;
if(diferential==1)
{
ExtMapBuffer1[shift]=(A_t3-A_t3_1)/A_t3_1;
ExtMapBuffer2[shift]=(A_t3-A_t3_1)/A_t3_1+(B_t3-B_t3_1)/B_t3_1;
}
else
{
if ( B_t3_1 >0 && A_t3_1>0) {
ExtMapBuffer2[shift]=(B_t3-B_t3_1)/B_t3_1;
ExtMapBuffer1[shift]=(A_t3-A_t3_1)/A_t3_1;
}
//Comment("0");
}
//Comment(" start: ",start," bar: ",bar,"\n",
//"frame: ",frame," num_bars:" ,num_bars," commodity: ",commodt ,"\n",(B_t3-B_t3_1)/B_t3_1);
if ((start==1 && shift==1) || start==-1)
{
//Comment("Bar=ghfghfgh");
A_t3_1=A_t3;
B_t3_1=B_t3;
e1x=e1;
e2x=e2;
e3x=e3;
e4x=e4;
e5x=e5;
e6x=e6;
}
shift--;
//Comment("View !!! NO?????");
}
//----
if (CurTime() - PrevAlertTime > Period()*60)
{
if((ExtMapBuffer1[1]*alert_factor) >= (ExtMapBuffer1[0]*alert_factor) && (ExtMapBuffer2[1]*alert_factor) <= (ExtMapBuffer2[0]*alert_factor))
{
Alert("TRIX CLOSE BUY SIGNAL");
PrevAlertTime = CurTime();
}
else if((ExtMapBuffer1[1]*alert_factor) <= (ExtMapBuffer1[0]*alert_factor) && (ExtMapBuffer2[1]*alert_factor) >= (ExtMapBuffer2[0]*alert_factor))
{
Alert("TRIX CLOSE SELL SIGNAL");
PrevAlertTime = CurTime();
}
else if((ExtMapBuffer1[0]*alert_factor) == (ExtMapBuffer2[0]*alert_factor))
{
Alert("TRIX EQUAL");
PrevAlertTime = CurTime();
}
}
}
//+------------------------------------------------------------------+
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