Triggerlines1_v2

Download script
Triggerlines1_v2

This technical tool is designed to provide visual signals on a trading chart by calculating and comparing two distinct types of moving averages. Its primary purpose is to identify specific momentum shifts by highlighting when one trend line crosses above another.

Core Methodology

The script processes historical price data to generate two separate data streams:

  1. The Weighted Average: The tool calculates a weighted average where the weight assigned to each price point increases as it gets closer to the current time. Unlike a simple average that treats all past prices equally, this logic gives more importance to recent price action, making it more responsive to sudden market changes.
  2. The Linear Smoothed Average: The tool then takes that weighted data and applies an additional layer of smoothing (a linear smoothing technique). This creates a "buffer" line that is less volatile and moves more slowly than the primary weighted average.

Visual Logic and Signal Generation

The indicator plots both of these lines on your chart simultaneously to show the relationship between short-term momentum and long-term trends:

  • Trend Tracking: By observing how these two lines interact, traders can see the "velocity" of the market. When the weighted line is above the smoothed line, it indicates positive momentum; when it falls below, it suggests a downward trend.
  • Dynamic Highlighting: The script features a specific filtering logic to make signals clearer. It is programmed to only display certain colored lines when the weighted average is higher than the smoothed average.
  • Signal Filtering: If the weighted average drops below the smoothed average, the script "hides" specific components of the visual data (setting them to empty values). This helps clean up the chart by removing visual noise during unfavorable market conditions, allowing you to focus solely on the periods where the momentum meets your desired criteria.

In summary, this script acts as a momentum filter that smooths out market "noise" to help you visualize exactly when short-term price movement gains enough strength to break away from the established trend.

Miscellaneous
Implements a curve of type %1
16 Views
0 Downloads
0 Favorites
Triggerlines1_v2 
//+------------------------------------------------------------------+
//|                                                     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 Yellow      
#property indicator_color2 Orange
#property indicator_color3 Aqua
#property indicator_color4 Blue

//---- buffers
double ExtMapBuffer1[];
double ExtMapBuffer2[];
double ExtMapBuffer3[];
double ExtMapBuffer4[];

int width;

extern int Rperiod = 50;
extern int LSMA_Period = 50;
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 /= 3;                                       //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;
           }          
        
        }
  }
//+------------------------------------------------------------------+

Similar scripts

TriggerLines_v4

This indicator identifies bullish momentum by calculating a linear weighted moving average and filtering for price action that exceeds its baseline.

Triggerlines_003

This indicator identifies bullish momentum by calculating a Linear Weighted Moving Average and highlighting instances where current price weight exceeds its own smoothed linear acceleration.

Triggerlines_002

This indicator identifies bullish momentum by calculating a Linear Weighted Moving Average and filtering for instances where the weighted price value exceeds its smoothed trend line.

Triggerlines2

This indicator calculates a linear weighted moving average and visualizes the dynamic price momentum by highlighting periods where the current weight exceeds its own smoothed acceleration.

TriggerLines

This indicator calculates a weighted linear moving average to identify momentum shifts where price action exceeds its smoothed trend velocity.

Trigger Line

This indicator calculates a linear weighted moving average to identify momentum shifts and filters price trends based on the crossover between the primary weight sum and its smoothed trajectory.

trendline

This indicator calculates a weighted moving average and compares it against a linear smoothed momentum line to identify directional shifts.

StratoTriggerlines

The algorithm calculates a weighted price distribution to derive a primary trend line and applies a smoothed moving average filter to identify specific directional crossovers.

TriggerLine

This indicator calculates a weighted linear moving average and filters its visual output based on a crossover threshold against its own smoothed progression.

Triggerlines2_v3

This indicator calculates a weighted price average and identifies bullish momentum by rendering lines only when the instantaneous weighted value exceeds the linearized smoothing value.

Triggerlines_v1

This indicator calculates a linearly weighted moving average and overlays it against a smoothed LSMA to identify trend momentum via conditional line visibility.

Comments