VoltyChoppy_v1_005

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Author: Copyright � 2006, Forex-TSD.com
VoltyChoppy_v1_005

The VoltyChoppy indicator is designed to provide a visual and audible roadmap of market sentiment by categorizing price action into different "moods" or stages. Instead of just showing a simple up or down arrow, this script analyzes the strength and stability of a trend to help traders distinguish between a powerful move, a temporary pause, and a potential reversal.

Core Logic Overview

The script works by calculating several dynamic boundaries around the current price based on market volatility (using the Average True Range). It creates four distinct "zones" for both upward and downward movements. By comparing where the price sits relative to these zones, the indicator assigns one of eight specific statuses:

Upward Market States:

  • Strong UpTrend: Indicates high-momentum bullish movement where price is pushing firmly upward.
  • Retrace UpTrend: Signals a "breather" or minor pullback within an overall bullish move; it suggests the trend is still intact but cooling off.
  • Choppy UpTrend: Represents a disorganized move where the price is rising but lacks clear conviction or steady direction.
  • Be ready to change UpTrend: A warning state indicating that the bullish momentum is fading and a reversal or significant shift may be imminent.

Downward Market States:

  • Strong DownTrend: Indicates high-momentum bearish movement with aggressive selling pressure.
  • Retrace DownTrend: Signals a temporary relief rally or "bounce" within a larger downward move.
  • Choppy DownTrend: Represents disorganized price action where the market is falling but lacks a clear, unified path.
  • Be ready to change DownTrend: A warning state indicating that bearish momentum is weakening and the market may be preparing for an upward shift.

Key Features for Traders

  • Visual Color Coding: The script uses a multi-colored histogram system in a separate window. Different colors correspond to different stages (e.g., distinct shades of blue for various uptrends and reds/yellows for various downtrends), allowing for instant visual recognition of market health.
  • Smart Alerts: The logic includes an automated notification system. When the market shifts from one state to another (for example, moving from a "Strong UpTrend" to a "Retrace"), the script generates a sound alert and a pop-up message identifying the new trend status and the specific currency pair.
  • Dynamic Sensitivity: The tool uses customizable parameters—such as "Length" and "Kv"—which allow users to adjust how sensitive the indicator is to price fluctuations, making it adaptable to different trading styles or timeframes.
Indicators Used
Indicator of the average true range
Miscellaneous
Implements a curve of type %1It issuies visual alerts to the screen
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VoltyChoppy_v1_005 
//+------------------------------------------------------------------+
//|                                               VoltyChoppy_v1.mq4 |
//|                                  Copyright © 2006, Forex-TSD.com |
//|                         Written by IgorAD,igorad2003@yahoo.co.uk |   
//|            http://finance.groups.yahoo.com/group/TrendLaboratory |                                      
//+------------------------------------------------------------------+
#property copyright "Copyright © 2006, Forex-TSD.com "
#property link      "http://www.forex-tsd.com/"

#property indicator_separate_window
#property indicator_minimum -0.05
#property indicator_maximum 1.05
#property indicator_buffers 8

//---- input parameters
extern int     Length      = 10;
extern double  Kv          = 4.0;
//extern double  Kd          = 1.1;
extern int     NumBars     = 1000; 
//---- buffers
double UpBuffer1[];
double UpBuffer2[];
double UpBuffer3[];
double UpBuffer4[];

double DnBuffer1[];
double DnBuffer2[];
double DnBuffer3[];
double DnBuffer4[];   
int play;
int lastplay;
string trend;
extern bool SoundON=true;
double alertTag;
int LastBar;

//+------------------------------------------------------------------+
//| Custom indicator initialization function                         |
//+------------------------------------------------------------------+
int init()
  {
  
//---- 
   SetIndexStyle(0,DRAW_HISTOGRAM,0,3,MediumBlue);
   SetIndexStyle(1,DRAW_HISTOGRAM,0,3,DodgerBlue);
   SetIndexStyle(2,DRAW_HISTOGRAM,0,3,LightBlue);
   SetIndexStyle(3,DRAW_HISTOGRAM,0,3,Aqua);
   
   SetIndexStyle(4,DRAW_HISTOGRAM,0,3,Crimson);
   SetIndexStyle(5,DRAW_HISTOGRAM,0,3,Tomato);
   SetIndexStyle(6,DRAW_HISTOGRAM,0,3,Orange);
   SetIndexStyle(7,DRAW_HISTOGRAM,0,3,Yellow);
   
   SetIndexBuffer(0,UpBuffer1);
   SetIndexBuffer(1,UpBuffer2);
   SetIndexBuffer(2,UpBuffer3);
   SetIndexBuffer(3,UpBuffer4);
   
   SetIndexBuffer(4,DnBuffer1);
   SetIndexBuffer(5,DnBuffer2);
   SetIndexBuffer(6,DnBuffer3);
   SetIndexBuffer(7,DnBuffer4);
   
//---- 
   string short_name="VoltyChoppy";
   IndicatorShortName(short_name);
   SetIndexLabel(0,"Strong UpTrend");
   SetIndexLabel(1,"Retrace UpTrend");   
   SetIndexLabel(2,"Choppy UpTrend");
   SetIndexLabel(3,"Be ready to change UpTrend");
   
   SetIndexLabel(4,"Strong DownTrend");
   SetIndexLabel(5,"Retrace DownTrend");   
   SetIndexLabel(6,"Choppy DownTrend");
   SetIndexLabel(7,"Be ready to change DownTrend"); 
//----
   
   SetIndexDrawBegin(0,Length);
   SetIndexDrawBegin(1,Length);
   SetIndexDrawBegin(2,Length);
   SetIndexDrawBegin(3,Length);
   SetIndexDrawBegin(4,Length);
   SetIndexDrawBegin(5,Length);
   SetIndexDrawBegin(6,Length);
   SetIndexDrawBegin(7,Length);
//----
   return(0);
  }
//+------------------------------------------------------------------+
//| VoltyChoppy_v1                                                  |
//+------------------------------------------------------------------+
int start()
  {
   double smin,smax,smin1,smax1,
          rmin,rmax,rmin1,rmax1,
          cmin,cmax,cmin1,cmax1,
          bmin,bmax,bmin1,bmax1;
   int    i, strend, rtrend, ctrend, btrend;       
      
//----
   if(NumBars<=Length) return(0);
//---- initial zero
      for(i=Bars;i>=0;i--) 
      {
      UpBuffer1[i]=0.0;
      UpBuffer2[i]=0.0;
      UpBuffer3[i]=0.0;
      UpBuffer4[i]=0.0;
      
      DnBuffer1[i]=0.0;
      DnBuffer2[i]=0.0;
      DnBuffer3[i]=0.0;
      DnBuffer4[i]=0.0;
      }
//----
   double Kd = MathPow(Kv,1.0/3.0); 
  
   for(i=NumBars - Length -1;i>=0;i--) 
   {	 
   smin  = Close[i] - Kv*iATR(NULL,0,Length,i);
   smax  = Close[i] + Kv*iATR(NULL,0,Length,i);
   
   rmin  = Close[i] - Kv*iATR(NULL,0,Length,i)/Kd;
   rmax  = Close[i] + Kv*iATR(NULL,0,Length,i)/Kd;
   
   cmin  = Close[i] - Kv*iATR(NULL,0,Length,i)/(Kd*Kd);
   cmax  = Close[i] + Kv*iATR(NULL,0,Length,i)/(Kd*Kd);
   
   bmin  = Close[i] - Kv*iATR(NULL,0,Length,i)/(Kd*Kd*Kd);
   bmax  = Close[i] + Kv*iATR(NULL,0,Length,i)/(Kd*Kd*Kd);
   
   if ( Close[i] > smax1 ) strend = 1;
   if ( Close[i] < smin1 ) strend =-1;
   
   if ( strend > 0 && smin < smin1 ) smin = smin1;
   if ( strend < 0 && smax > smax1 ) smax = smax1;
     
   if ( Close[i] > rmax1 ) rtrend = 1;
   if ( Close[i] < rmin1 ) rtrend =-1; 
   
   if ( rtrend > 0 && rmin < rmin1 ) rmin = rmin1;
   if ( rtrend < 0 && rmax > rmax1 ) rmax = rmax1;
   
   
   if ( Close[i] > cmax1 ) ctrend = 1; 
   if ( Close[i] < cmin1 ) ctrend =-1;
   
   if ( ctrend > 0 && cmin < cmin1 ) cmin = cmin1;
   if ( ctrend < 0 && cmax > cmax1 ) cmax = cmax1;
   
   if ( Close[i] > bmax1 ) btrend = 1; 
   if ( Close[i] < bmin1 ) btrend =-1; 
   
   if ( btrend > 0 && bmin < bmin1 ) bmin = bmin1;
   if ( btrend < 0 && bmax > bmax1 ) bmax = bmax1;

   if ( strend  > 0 )
   {
    UpBuffer1[i] = 1.0;trend="Strong UpTrend";play=1;UpBuffer2[i] = 0.0;UpBuffer3[i] = 0.0;UpBuffer4[i] = 0.0;
    DnBuffer1[i] = 0.0;DnBuffer2[i] = 0.0;DnBuffer3[i] = 0.0;DnBuffer4[i] = 0.0;
      
   if ( btrend < 0 )
   {UpBuffer1[i] = 0.0;UpBuffer2[i] = 1.0;trend="Retrace UpTrend";play=2;UpBuffer3[i] = 0.0;UpBuffer4[i] = 0.0;
    DnBuffer1[i] = 0.0;DnBuffer2[i] = 0.0;DnBuffer3[i] = 0.0;DnBuffer4[i] = 0.0;}
   
   if ( ctrend < 0 )
   {UpBuffer1[i] = 0.0;UpBuffer2[i] = 0.0;UpBuffer3[i] = 1.0;trend="Choppy Uptrend";play=3;UpBuffer4[i] = 0.0;
    DnBuffer1[i] = 0.0;DnBuffer2[i] = 0.0;DnBuffer3[i] = 0.0;DnBuffer4[i] = 0.0;}
    
   if ( rtrend < 0 )
   {UpBuffer1[i] = 0.0;UpBuffer2[i] = 0.0;UpBuffer3[i] = 0.0;UpBuffer4[i] = 1.0;trend="Be ready to change UpTrend";play=4;
    DnBuffer1[i] = 0.0;DnBuffer2[i] = 0.0;DnBuffer3[i] = 0.0;DnBuffer4[i] = 0.0;}
   }
 
   if ( strend < 0 ) 
   {
    UpBuffer1[i] = 0.0;UpBuffer2[i] = 0.0;UpBuffer3[i] = 0.0;UpBuffer4[i] = 0.0;
    DnBuffer1[i] = 1.0;trend="Strong DownTrend";play=5;DnBuffer2[i] = 0.0;DnBuffer3[i] = 0.0;DnBuffer4[i] = 0.0;
   
   if ( btrend > 0 )    
   {UpBuffer1[i] = 0.0;UpBuffer2[i] = 0.0;UpBuffer3[i] = 0.0;UpBuffer4[i] = 0.0;
    DnBuffer1[i] = 0.0;DnBuffer2[i] = 1.0;trend="Retrace DownTrend";play=6;DnBuffer3[i] = 0.0;DnBuffer4[i] = 0.0;}
   
   if ( ctrend > 0 )  
   {UpBuffer1[i] = 0.0;UpBuffer2[i] = 0.0;UpBuffer3[i] = 0.0;UpBuffer4[i] = 0.0;
    DnBuffer1[i] = 0.0;DnBuffer2[i] = 0.0;DnBuffer3[i] = 1.0;trend="Choppy DownTrend";play=7;DnBuffer4[i] = 0.0;}
      
   if ( rtrend > 0 )
   {UpBuffer1[i] = 0.0;UpBuffer2[i] = 0.0;UpBuffer3[i] = 0.0;UpBuffer4[i] = 0.0;
    DnBuffer1[i] = 0.0;DnBuffer2[i] = 0.0;DnBuffer3[i] = 0.0;DnBuffer4[i] = 1.0;trend="Be ready to change DownTrend";play=8;}
   }

   smin1 = smin; smax1 = smax;
   rmin1 = rmin; rmax1 = rmax;
   cmin1 = cmin; cmax1 = cmax;
   bmin1 = bmin; bmax1 = bmax;
 
   }
    if (play==0)
    {
    play=lastplay;
    }
    if (SoundON==true && play != lastplay && Bars>LastBar)
    {
    Alert("Voltchoppy", " ", trend," ",Symbol(),"-",Period());
     lastplay=play;
     LastBar=Bars;
     } 
//----
   return(0);
 
  }
//+------------------------------------------------------------------+

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