This indicator is designed to provide a visual representation of price momentum and volatility by tracking how current market prices relate to specific historical "trailing" boundaries. Instead of simply showing the raw price movement, it creates a relative measurement that helps traders visualize the strength of a trend based on two distinct sensitivity levels.
Core Logic and Mechanism
The script operates by maintaining a rolling history of the latest price points. It uses two different "trail" parameters—a fast trail and a slow trail—to establish boundaries around these prices:
- Fast Trail: This reacts more quickly to recent price fluctuations. It acts as a short-term boundary that moves in closer proximity to the current market action.
- Slow Trail: This is less sensitive and follows the broader price movement over a longer duration, acting as a primary baseline for the overall trend.
How the Calculation Works
As each new price tick occurs, the script looks back through the recorded history (up to a user-defined limit of bars). For every point in that history, it compares the price to the fast and slow trail limits:
- Dynamic Tracking: The tool constantly updates the "fast" and "slow" values. If a historical price exceeds the designated trail distance, the indicator adjusts those values to follow that price movement.
- Relative Positioning: The primary goal of the logic is to calculate the gap between these two trails. By measuring the distance between the fast-moving boundary and the slow-moving boundary, the script determines the "intensity" of the current market cycle.
- Normalization: To make this data readable on a standard chart window, the indicator converts this gap into a percentage-based value. It scales the difference between the two trails against the total range between your chosen settings.
Visual Interpretation
The resulting output is displayed in a separate window below your main price chart. Rather than showing erratic price spikes, it provides a smoothed line that represents the relative strength of the trend.
- When the line moves higher, it indicates that the fast price action is pulling away from the slower historical baseline at a significant rate.
- When the line moves lower, it suggests the momentum is cooling off or reversing.
In short, this tool serves as a "momentum speedometer," allowing you to see how aggressively the current market is moving relative to its recent history, filtered through two different levels of sensitivity.
// Ticker TrailCD.mq4
// Èíäèêàòîð
#property copyright "mandorr@gmail.com"
#property indicator_separate_window
#property indicator_buffers 1
#property indicator_color1 MediumVioletRed
#property indicator_width1 2
#property indicator_style1 0
#property indicator_maximum 120
#property indicator_minimum -120
extern int TrailFast=25; // Áûñòðûé òðàë
extern int TrailSlow=65; // Ìåäëåííûé òðàë
extern int CountBars=1000; // Êîëè÷åñòâî îòîáðàæàåìûõ áàðîâ
int count;
int price;
int price_prev;
int trail_fast;
int trail_slow;
double ticker[10]; // áóôåð òèêîâ
double buffer[];
void init()
{
SetIndexBuffer(0,buffer);
SetIndexLabel(0,"Value");
SetIndexDrawBegin(0,0);
count=ArrayResize(ticker,CountBars);
count=0;
price_prev=0;
trail_fast=0; if (TrailFast>0) trail_fast=TrailFast;
trail_slow=0; if (TrailSlow>0) trail_slow=TrailSlow;
}
void start()
{
int i, value_fast, value_slow;
if (trail_fast>=trail_slow) {Print("Íåâåðíûå ïàðàìåòðû èíäèêàòîðà"); return;}
price=MathRound(Bid/Point);
if (price_prev==0)
{
count=0;
price_prev=price;
ticker[0]=price*Point;
buffer[0]=0;
IndicatorShortName("Ticker ("+count+") TrailCD ("+trail_fast+","+trail_slow+")");
return;
}
if (price==price_prev) return;
price_prev=price;
for (i=count; i>=0; i--)
{
ticker[i+1]=ticker[i];
}
ticker[0]=price*Point;
if (count<CountBars-1) count++;
price=MathRound(ticker[count]/Point);
value_fast=price;
value_slow=price;
for (i=count; i>=0; i--)
{
price=MathRound(ticker[i]/Point);
if (value_fast<price-trail_fast) value_fast=price-trail_fast;
if (value_fast>price+trail_fast) value_fast=price+trail_fast;
if (value_slow<price-trail_slow) value_slow=price-trail_slow;
if (value_slow>price+trail_slow) value_slow=price+trail_slow;
buffer[i]=100*(value_fast-value_slow)/(trail_slow-trail_fast);
}
IndicatorShortName("Ticker ("+count+") TrailCD ("+trail_fast+","+trail_slow+")");
}
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