wae
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This tool is designed to assist traders by automatically identifying potential entry points on a price chart based on specific momentum shifts. Instead of simply following the price, it analyzes the underlying "explosive" energy of the market to highlight moments where the trend might be changing or accelerating.
How the Logic Works
The script functions by monitoring a specialized technical indicator (the Waddah Attar Explosion). It looks at three specific components of this data:
- Momentum Tracking: The tool constantly compares the current strength of the market movement against the previous two points in time. It is looking for a significant "jump" or surge in activity.
- The Threshold Gate: To prevent the tool from reacting to tiny, insignificant price flickers, it uses a sensitivity filter (the "Threshold"). A signal is only triggered if the change in momentum exceeds this specific minimum value.
- Directional Filtering: Once a significant momentum jump is detected, the tool checks for two different directions:
- Upward Pressure: If the upward energy component is active at that moment, it flags a potential signal.
- Downward Pressure: If the downward energy component is active, it flags a corresponding signal.
Visual Output on Your Chart
When the logic identifies these specific conditions—where there is both a significant surge in momentum and active pressure in a specific direction—it places visual markers directly on your trading screen:
- Buy/Upward Signals: These are plotted at the Low of the price bar, indicating a point where upward momentum has been confirmed.
- Sell/Downward Signals: These are plotted at the High of the price bar, indicating a point where downward pressure has been confirmed.
By filtering out minor market noise and only highlighting significant "explosions" in price energy, this script helps traders focus on the most dynamic areas of the market.
//+------------------------------------------------------------------+
//| ADX Crossing.mq4
//| Amir
//+------------------------------------------------------------------+
#property copyright "Author - Perky"
#property indicator_chart_window
#property indicator_buffers 2
#property indicator_color1 Lime
#property indicator_color2 Red
//---- input parameters
extern int CountBars=5350;
extern double Threshold=0.0005;
//---- buffers
double val1[];
double val2[];
double wae1,wae2,wae3,waeup,waedn;
//+------------------------------------------------------------------+
//| Custom indicator initialization function |
//+------------------------------------------------------------------+
int init()
{
string short_name;
//---- indicator line
IndicatorBuffers(2);
SetIndexStyle(0,DRAW_ARROW);
SetIndexArrow(0,108);
SetIndexStyle(1,DRAW_ARROW);
SetIndexArrow(1,108);
SetIndexBuffer(0,val1);
SetIndexBuffer(1,val2);
//----
return(0);
}
//+------------------------------------------------------------------+
//| AltrTrend_Signal_v2_2 |
//+------------------------------------------------------------------+
int start()
{
if (CountBars>=Bars) CountBars=Bars;
SetIndexDrawBegin(0,Bars-CountBars);
SetIndexDrawBegin(1,Bars-CountBars);
int i,shift,counted_bars=IndicatorCounted();
//---- check for possible errors
if(counted_bars<0) return(-1);
//---- initial zero
if(counted_bars<1)
{
for(i=1;i<=CountBars;i++) val1[CountBars-i]=0.0;
for(i=1;i<=CountBars;i++) val2[CountBars-i]=0.0;
}
for (shift = CountBars; shift>=0; shift--)
{
val1[shift]=EMPTY_VALUE;
val2[shift]=EMPTY_VALUE;
wae1=iCustom(Symbol(),Period(),"waddah_attar_explosion",2,shift+0);
wae2=iCustom(Symbol(),Period(),"waddah_attar_explosion",2,shift+1);
wae3=iCustom(Symbol(),Period(),"waddah_attar_explosion",2,shift+2);
waeup=iCustom(Symbol(),Period(),"waddah_attar_explosion",0,shift);
waedn=iCustom(Symbol(),Period(),"waddah_attar_explosion",1,shift);
Comment (wae1-wae2);
if (wae1-wae2 >=Threshold)
{
if (waeup !=0.00) val1[shift]=Low[shift];
if (waedn !=0.00) val2[shift]=High[shift];
}
}
return(0);
}
//+------------------------------------------------------------------+
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