TriggerLine
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This technical indicator is designed to provide visual signals on a trading chart by analyzing price trends and momentum. It works by calculating two primary moving components and comparing them to identify specific shifts in market behavior.
Core Methodology
The logic relies on three distinct layers of calculation to produce the final result:
- Weighted Price Analysis: Instead of simply looking at the average price, the script assigns a "weight" to historical data. It calculates a weighted value based on the distance of past prices from the current point in time. This helps emphasize more recent price actions while still accounting for historical context.
- Linear Smoothing: The script takes those weighted values and applies a Linear Smoothed Moving Average (LSMA). This creates a secondary, smoother line that represents the "trend" of the momentum.
- The Trigger Mechanism: The indicator constantly compares the raw weighted value against the smoothed trend line.
Visual Representation
The tool displays these calculations on your chart using specific color coding to represent market states:
- Trend Confirmation: When the primary weighted price moves above the smoothed trend line, the indicator draws visible lines (typically in Blue). This represents a positive momentum shift.
- Filtered Signals: If the weighted price falls below the smoothed trend line, the script is designed to hide certain data points (setting them to "Empty"). By removing these visual elements, the indicator filters out "noise," ensuring that only the specific movements you are looking for remain visible on your screen.
Summary for the User
Essentially, this tool acts as a momentum filter. It looks at how fast and in what direction the price is moving by weighting recent data more heavily than old data. By comparing this weighted movement against a smoothed average, it highlights clear signals while hiding the fluctuations that occur when the price lacks sufficient upward momentum.
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TriggerLine
//+------------------------------------------------------------------+
//| Trigger Line |
//| Copyright © 2005 dwt5 and adoleh2000 |
//| http://www.metaquotes.net |
//+------------------------------------------------------------------+
#property copyright "Copyright © 2005 dwt5 and adoleh2000 "
#property link "http://www.metaquotes.net/"
//---- indicator settings
#property indicator_chart_window
#property indicator_buffers 4
#property indicator_color1 Red
#property indicator_color2 Red
#property indicator_color3 Blue
#property indicator_color4 Blue
//---- buffers
double ExtMapBuffer1[];
double ExtMapBuffer2[];
double ExtMapBuffer3[];
double ExtMapBuffer4[];
int width;
extern int Rperiod = 15;
extern int LSMA_Period = 5;
extern int Div = 3;
int Draw4HowLong;
int shift;
int i;
int j;
int loopbegin;
int length;
int lsma_length;
double lengthvar;
double tmp ;
double tmp2 ;
double wt[];
double sum[];
double lsma_sum[];
double lsma_ma[];
double middle[];
int c;
//+------------------------------------------------------------------+
//| Custom indicator initialization function |
//+------------------------------------------------------------------+
int init()
{
//---- 7 additional buffers are used for counting.
IndicatorBuffers(7);
//---- drawing settings
SetIndexBuffer(0,ExtMapBuffer1);
SetIndexStyle(0,DRAW_LINE,STYLE_SOLID,2);
SetIndexBuffer(1,ExtMapBuffer2);
SetIndexStyle(1,DRAW_LINE,STYLE_SOLID,2);
SetIndexBuffer(2,ExtMapBuffer3);
SetIndexStyle(2,DRAW_LINE,STYLE_SOLID,2);
SetIndexBuffer(3,ExtMapBuffer4);
SetIndexStyle(3,DRAW_LINE,STYLE_SOLID,2);
SetIndexBuffer(4,sum);
SetIndexBuffer(5,wt);
SetIndexBuffer(6,lsma_ma);
//---- initialization done
return(0);
}
int start()
{ Draw4HowLong = Bars-Rperiod - 5; //Rperiod = 20
length = Rperiod; //length now = 20
lsma_length = LSMA_Period;
loopbegin = Draw4HowLong - length - 1;
for(shift = loopbegin; shift >= 0; shift--) // MAIN For Loop
{
sum[1] = 0;
for(i = length; i >= 1 ; i--) //LSMA loop
{
lengthvar = length + 1; //lengthvar = 21
lengthvar /= Div; //lengthvar = 7
tmp = 0;
tmp = ( i - lengthvar)*Close[length-i+shift]; //tmp = 20 - 7 * close[20-i+shift]
sum[1]+=tmp;
}
wt[shift] = sum[1]*6/(length*(length+1));
j = shift;
lsma_ma[shift] = wt[j+1] + (wt[j]-wt[j+1])* 2/(lsma_length+1);
//========== COLOR CODING ===========================================
ExtMapBuffer1[shift] = wt[shift];
ExtMapBuffer2[shift] = lsma_ma[shift];
ExtMapBuffer3[shift] = wt[shift];
ExtMapBuffer4[shift] = lsma_ma[shift];
if (wt[shift] < lsma_ma[shift])
{
ExtMapBuffer4[shift] = EMPTY_VALUE;
ExtMapBuffer3[shift] = EMPTY_VALUE;
}
}
}
//+------------------------------------------------------------------+
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