trend_test
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This script functions as a visual trend analysis tool designed to provide traders with an immediate, color-coded overview of market momentum. Instead of cluttering the main price chart with complex lines or heavy indicators, it creates a dedicated dashboard in the upper right corner of the screen to display "Trend Impact" statuses.
Core Logic and Functionality
1. Multi-Layered Trend Analysis The tool operates by analyzing a specific moving average (the 200-period Exponential Moving Average). It looks at the relationship between the current price trend and its historical position across multiple previous points in time. By comparing these values, the script determines if the momentum is currently strengthening or weakening.
2. Dynamic Visual Feedback The primary purpose of this script is to translate mathematical data into visual cues:
- Green Labels: When the trend logic detects positive momentum (the moving average is higher than its previous position), the corresponding labels turn green.
- Red Labels: When the logic detects negative momentum, the labels shift to red.
3. Comparative Momentum Tracking The script doesn't just look at a single point; it generates a vertical stack of labels (16 in total). This allows you to see a "heat map" of trends. By looking at the sequence of colors, a trader can quickly assess whether the trend is consistently moving in one direction or if there is significant volatility and reversal occurring in the recent price history.
4. Intelligent Timeframe Handling The script includes a logic layer that automatically detects which timeframe you are viewing (e.g., 1-minute, 5-minute, Hourly, etc.). It uses this information to ensure that the calculations remain relevant and consistent regardless of the specific chart interval selected by the user.
5. Clean Interface Management The script is designed to be "clean." It handles all the heavy lifting of creating, updating, and deleting these visual labels automatically. When you apply the script, it builds the dashboard on your screen; when you remove it, the script ensures every label is deleted so that no leftover "ghost" text remains on your chart.
//+------------------------------------------------------------------+
//| Trend_Test.mq4 |
//| Copyright 2014, MetaQuotes Software Corp. |
//| http://www.mql5.com |
//+------------------------------------------------------------------+
#property copyright "NeuroJob @2014"
#property link "http://www.mql5.com"
#property version "1.00"
#property strict
#property indicator_chart_window
//+------------------------------------------------------------------+
//| Custom indicator initialization function |
//+------------------------------------------------------------------+
int OnInit()
{
int i;
//--- indicator buffers mapping
//--- create a text label on the chart
if(!LabelCreate(0,"label_trend",0,105,70,CORNER_RIGHT_UPPER,"Trend :","Arial",12, clrGray,0,ANCHOR_RIGHT,false,false,true,0)) return(INIT_SUCCEEDED);
//if(!LabelCreate(0,"trend",0,90,70,CORNER_RIGHT_UPPER,"UP","Arial",12, clrLightGreen,0,ANCHOR_LEFT,false,false,true,0)) return(INIT_SUCCEEDED);
for(i=0;i<=15;i++)
{
LabelCreate(0,"STrend"+IntegerToString(i),0,100-(i*5),70,CORNER_RIGHT_UPPER,"I","Impact",12,clrRed,0,ANCHOR_LEFT,false,false,false,0);
//LabelCreate(0,"STrend1",0,91,70,CORNER_RIGHT_UPPER,"I","Impact",12, clrRed,0,ANCHOR_LEFT,false,false,false,0);
}
//--- redraw the chart and wait for half a second
ChartRedraw();
Sleep(500);
//---
return(INIT_SUCCEEDED);
}
//+------------------------------------------------------------------+
//| Custor indicator deinitialization function |
//+------------------------------------------------------------------+
int deinit()
{
int i;
//----
LabelDelete(0,"label_trend");
for(i=0;i<=15;i++)
{
LabelDelete(0,"STrend"+IntegerToString(i));
//LabelDelete(0,"STrend1");
}
//----
ChartRedraw();
Sleep(500);
return(0);
}
//+------------------------------------------------------------------+
//| |
//+------------------------------------------------------------------+
void start()
{
//Declare
int i;
double ema200cur;
//if(Volume[0]>1) return(0);
//Print("TF()=", TF());
ema200cur=iMA(NULL,TF(),200,0,MODE_EMA,PRICE_CLOSE,0);
for(i=1;i<=16;i++)
{
if(ema200cur>iMA(NULL,TF(),200,0,MODE_EMA,PRICE_CLOSE,i+2))
{
if(!LabelTextChange(0,"STrend"+IntegerToString(i-1),"I","Impact",12,clrLime)) return;
}else{
if(!LabelTextChange(0,"STrend"+IntegerToString(i-1),"I","Impact",12,clrRed)) return;
}
ema200cur=iMA(NULL,TF(),200,0,MODE_EMA,PRICE_CLOSE,i+2);
}
}
//+------------------------------------------------------------------+
//| |
//+------------------------------------------------------------------+
bool LabelCreate(const long chart_ID=0, // chart's ID
const string name="Label", // label name
const int sub_window=0, // subwindow index
const int x=0, // X coordinate
const int y=0, // Y coordinate
const ENUM_BASE_CORNER corner=CORNER_LEFT_UPPER, // chart corner for anchoring
const string text="Label", // text
const string font="Arial", // font
const int font_size=10, // font size
const color clr=clrRed, // color
const double angle=0.0, // text slope
const ENUM_ANCHOR_POINT anchor=ANCHOR_LEFT_UPPER, // anchor type
const bool back=false, // in the background
const bool selection=false, // highlight to move
const bool hidden=true, // hidden in the object list
const long z_order=0) // priority for mouse click
{
//--- reset the error value
ResetLastError();
//--- create a text label
if(!ObjectCreate(chart_ID,name,OBJ_LABEL,sub_window,0,0))
{
Print(__FUNCTION__,
": failed to create text label! Error code = ",GetLastError());
return(false);
}
//--- set label coordinates
ObjectSetInteger(chart_ID,name,OBJPROP_XDISTANCE,x);
ObjectSetInteger(chart_ID,name,OBJPROP_YDISTANCE,y);
//--- set the chart's corner, relative to which point coordinates are defined
ObjectSetInteger(chart_ID,name,OBJPROP_CORNER,corner);
//--- set the text
ObjectSetString(chart_ID,name,OBJPROP_TEXT,text);
//--- set text font
ObjectSetString(chart_ID,name,OBJPROP_FONT,font);
//--- set font size
ObjectSetInteger(chart_ID,name,OBJPROP_FONTSIZE,font_size);
//--- set the slope angle of the text
ObjectSetDouble(chart_ID,name,OBJPROP_ANGLE,angle);
//--- set anchor type
ObjectSetInteger(chart_ID,name,OBJPROP_ANCHOR,anchor);
//--- set color
ObjectSetInteger(chart_ID,name,OBJPROP_COLOR,clr);
//--- display in the foreground (false) or background (true)
ObjectSetInteger(chart_ID,name,OBJPROP_BACK,back);
//--- enable (true) or disable (false) the mode of moving the label by mouse
ObjectSetInteger(chart_ID,name,OBJPROP_SELECTABLE,selection);
ObjectSetInteger(chart_ID,name,OBJPROP_SELECTED,selection);
//--- hide (true) or display (false) graphical object name in the object list
ObjectSetInteger(chart_ID,name,OBJPROP_HIDDEN,hidden);
//--- set the priority for receiving the event of a mouse click in the chart
ObjectSetInteger(chart_ID,name,OBJPROP_ZORDER,z_order);
//--- successful execution
return(true);
}
//+------------------------------------------------------------------+
//| Change the object text |
//+------------------------------------------------------------------+
bool LabelTextChange(const long chart_ID=0, // chart's ID
const string name="Label", // object name
const string text="Text",
const string font="Impact",
const int font_size=12,
const color clr=clrGreen) // text
{
//--- reset the error value
ResetLastError();
//--- change object text
if(!ObjectSetText(name,text,font_size,font,clr))
{
Print(__FUNCTION__,
": failed to change the text and Color! Error code = ",GetLastError());
return(false);
}
//--- successful execution
return(true);
}
//+------------------------------------------------------------------+
//| Delete a text label |
//+------------------------------------------------------------------+
bool LabelDelete(const long chart_ID=0, // chart's ID
const string name="Label") // label name
{
//--- reset the error value
ResetLastError();
//--- delete the label
if(!ObjectDelete(chart_ID,name))
{
Print(__FUNCTION__,
": failed to delete a text label! Error code = ",GetLastError());
return(false);
}
//--- successful execution
return(true);
}
//+------------------------------------------------------------------+
//| |
//+------------------------------------------------------------------+
int TF()
{
int nextTF;
switch(Period())
{
case PERIOD_M1 : nextTF=PERIOD_M5; break;
case PERIOD_M5 : nextTF=PERIOD_M15; break;
case PERIOD_M15: nextTF=PERIOD_M30; break;
case PERIOD_M30: nextTF=PERIOD_H1; break;
case PERIOD_H12: nextTF=PERIOD_H4; break;
case PERIOD_H4 : nextTF=PERIOD_D1; break;
default: nextTF=PERIOD_CURRENT;
}
return nextTF;
}
//+------------------------------------------------------------------+
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