This script is a specialized technical analysis tool designed for the MetaTrader platform. Its primary purpose is to identify trend shifts and provide visual signals (such as arrows) to assist traders in making informed decisions based on price movement.
Core Functionality
The logic of this script revolves around monitoring a specific type of moving average, which acts as a smoothed representation of price data. Instead of looking at raw, volatile price fluctuations, the tool analyzes a "tail" (an underlying data source) to determine the general direction of the market.
How the Logic Works
1. Data Integration and Smoothing The script first pulls data from an external indicator to establish a base line. It then applies a custom calculation that averages the values over a specific "Step Period." This helps filter out "market noise," ensuring that the signals generated are based on sustained movements rather than temporary price spikes.
2. Trend Detection Logic The script continuously compares the current price position against this calculated average:
- Upward Bias: If the price is moving in a specific direction relative to the average, it prepares an "Up" signal.
- Downward Bias: If the price moves in the opposite direction, it prepares a "Down" signal.
3. Signal Generation (The Arrows) Rather than constantly showing signals, the script is designed to be precise. It only triggers a visual signal when a distinct "crossover" or shift occurs:
- An Up Arrow appears when the data transitions from a neutral state to an upward bias.
- A Down Arrow appears when the data transitions from a neutral state to a downward bias.
To prevent the chart from becoming cluttered, the script includes logic to ensure that signals are not repeated unnecessarily, maintaining a clean visual workspace for the user.
4. Dynamic Adjustments The tool is "timeframe aware." It automatically adjusts its internal spacing (the distance of the arrows from the price line) based on whether you are viewing the market on short-term charts (like 1-minute) or long-term charts (like Monthly). This ensures that the visual markers remain legible and properly positioned regardless of the zoom level.
5. Notifications and Alerts Beyond visual cues, the script can act as an automated watchdog. It features three primary notification methods:
- On-Screen Alerts: Pop-up messages within the trading platform.
- Email Notifications: Direct alerts sent to your registered email address when a trend shift is detected.
- Debug Mode: A specialized feature that can automatically capture screenshots of the chart, allowing for historical review of signals.
Summary for the User
In simple terms, this script acts as an automated trend observer. It watches the market's "flow," filters out the distractions of minor price movements, and places a clear visual marker on your chart exactly when the momentum shifts from one direction to another.
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xpMA_tail
//Version: 9
//Updated: December 22, 2006
//+------------------------------------------------------------------+
//| XP Moving Average |
//| xpMA.mq4 |
//| Developed by Coders Guru |
//| http://www.xpworx.com |
//+------------------------------------------------------------------+
#property link "http://www.xpworx.com"
#property indicator_separate_window
#property indicator_buffers 4
#property indicator_color1 Yellow
#property indicator_color2 Blue
#property indicator_color3 Red
#define MODE_DEMA 4
#define MODE_TEMA 5
#define MODE_T3MA 6
#define MODE_JMA 7
#define MODE_HMA 8
#define MODE_DECEMA 9
#define MODE_SALT 10
/* Moving average types constants:
------------------------------------
MODE_SMA 0 Simple moving average,
MODE_EMA 1 Exponential moving average,
MODE_SMMA 2 Smoothed moving average,
MODE_LWMA 3 Linear weighted moving average.
MODE_DEMA 4 Double Exponential Moving Average.
MODE_TEMA 5 Triple Exponential Moving Average.
MODE_T3MA 6 T3 Moving Average.
MODE_JMA 7 Jurik Moving Average.
MODE_HMA 8 Hull Moving Average.
MODE_DECEMA 9 DECEMA Moving Average.
MODE_SALT 10 SALT Indicator.
------------------------------------*/
/* Applied price constants:
-------------------------------
PRICE_CLOSE 0 Close price.
PRICE_OPEN 1 Open price.
PRICE_HIGH 2 High price.
PRICE_LOW 3 Low price.
PRICE_MEDIAN 4 Median price, (high+low)/2.
PRICE_TYPICAL 5 Typical price, (high+low+close)/3.
PRICE_WEIGHTED 6 Weighted close price, (high+low+close+close)/4.
--------------------------------- */
extern int TimeFrame = 0;
extern int MA_Period = 13;
extern int MA_Type = 6;
extern int MA_Applied = PRICE_CLOSE;
extern double T3MA_VolumeFactor = 0.8;
extern double JMA_Phase = 0;
extern int Step_Period = 4;
extern bool DebugMode = false;
bool Alert_On = false;
bool Arrows_On = true;
int UpArrowCode = 241;
int DownArrowCode = 242;
color UpArrowColor = Red;
color DownArrowColor = Blue;
int UpArrowSize = 3;
int DownArrowSize = 3;
bool Email_Alert = false;
string pro = "xpMA_v9";
string ver = "";
double UpBuffer[];
double DownBuffer[];
double Buffer3[];
double buffer[];
double tempbuffer[];
double matriple[];
double signal[];
int nShift;
int init()
{
DeleteStamp();
ver = GenVer();
DeleteAllObjects();
IndicatorBuffers(7);
SetIndexStyle(2,DRAW_LINE,STYLE_DOT,2);
SetIndexBuffer(2,UpBuffer);
SetIndexStyle(1,DRAW_LINE,STYLE_DOT,2);
SetIndexBuffer(1,DownBuffer);
SetIndexStyle(0,DRAW_LINE,STYLE_DOT,2);
SetIndexBuffer(0,Buffer3);
SetIndexBuffer(3,signal);
SetIndexBuffer(4,buffer);
SetIndexBuffer(5,tempbuffer);
SetIndexBuffer(6,matriple);
SetIndexLabel(0,"XP Moving Average");
SetIndexLabel(1,"DownBuffer");
SetIndexLabel(2,"UpBuffer");
SetIndexLabel(3,"Signal");
switch(Period())
{
case 1: nShift = 5; break;
case 5: nShift = 7; break;
case 15: nShift = 10; break;
case 30: nShift = 15; break;
case 60: nShift = 20; break;
case 240: nShift = 30; break;
case 1440: nShift = 80; break;
case 10080: nShift = 150; break;
case 43200: nShift = 250; break;
}
return(0);
}
int deinit()
{
DeleteStamp();
DeleteAllObjects();
return(0);
}
void start()
{
StampVersion(pro,ver,5,20);
int limit;
int i = 0;
int counted_bars=IndicatorCounted();
if(counted_bars<0) return(-1);
if(counted_bars>0) counted_bars--;
limit=Bars-counted_bars;
for(i=0; i<limit; i++)
{
buffer[i] = iCustom(NULL,TimeFrame,"forexlion's tail",0,i);
}
for(int shift=0; shift<limit; shift++)
{
UpBuffer[shift] = buffer[shift];
DownBuffer[shift] = buffer[shift];
Buffer3[shift] = buffer[shift];
}
for(shift=0; shift<limit; shift++)
{
double dMA = 0;
for(int k = shift+1; k <= shift+Step_Period; k++){
dMA += buffer[k];
}
dMA = dMA / Step_Period;
if (buffer[shift] < dMA)
{
UpBuffer[shift] = EMPTY_VALUE;
}
else if (buffer[shift]>dMA)
{
DownBuffer[shift] = EMPTY_VALUE;
}
else
{
UpBuffer[shift] = EMPTY_VALUE;
DownBuffer[shift] = EMPTY_VALUE;
}
}
for(shift=0; shift<limit; shift++)
{
signal[shift]=0;
if(UpBuffer[shift+1] == EMPTY_VALUE && UpBuffer[shift] != EMPTY_VALUE && Buffer3[shift+1] != UpBuffer[shift] )
{
if(Arrows_On && shift !=0) DrawObject(1,shift, buffer[shift] - nShift*Point);
if(Arrows_On && shift ==0) DrawOnce(1,shift, buffer[shift] - nShift*Point,1);
signal[shift] = 1;
}
if(DownBuffer[shift+1] == EMPTY_VALUE && DownBuffer[shift] != EMPTY_VALUE && Buffer3[shift+1] != DownBuffer[shift])
{
if(Arrows_On && shift !=0) DrawObject(2,shift, buffer[shift] + nShift*Point);
if(Arrows_On && shift ==0) DrawOnce(2,shift, buffer[shift] + nShift*Point,2);
signal[shift] = -1;
}
}
if(Alert_On)
{
if(UpBuffer[1] == EMPTY_VALUE && UpBuffer[0] != EMPTY_VALUE && Buffer3[1] != UpBuffer[0])
AlertOnce(Symbol()+ ":" + PeriodToText() + " - Up Signal",1);
if(DownBuffer[1] == EMPTY_VALUE && DownBuffer[0] != EMPTY_VALUE && Buffer3[1] != DownBuffer[0])
AlertOnce(Symbol()+ ":" + PeriodToText() + " - Down Signal",2);
}
if(Email_Alert)
{
if(UpBuffer[1] == EMPTY_VALUE && UpBuffer[0] != EMPTY_VALUE && Buffer3[1] != UpBuffer[0])
SendMailOnce("xpMA Signal",Symbol()+ ":" + PeriodToText() + " - Up Signal",1);
if(DownBuffer[1] == EMPTY_VALUE && DownBuffer[0] != EMPTY_VALUE && Buffer3[1] != DownBuffer[0])
SendMailOnce("xpMA Signal",Symbol()+ ":" + PeriodToText() + " - Down Signal",2);
}
if(DebugMode)
{
TakeScreenShot(40);
}
return(0);
}
bool DrawOnce(int direction, int bar , double price, int ref)
{
static int LastDraw_1 = 0;
static int LastDraw_2 = 0;
static int LastDraw_3 = 0;
static int LastDraw_4 = 0;
switch(ref)
{
case 1:
if( LastDraw_1 == 0 || LastDraw_1 < Bars )
{
DrawObject(direction, bar , price);
LastDraw_1 = Bars;
return (1);
}
break;
case 2:
if( LastDraw_2 == 0 || LastDraw_2 < Bars )
{
DrawObject(direction, bar , price);
LastDraw_2 = Bars;
return (1);
}
break;
case 3:
if( LastDraw_3 == 0 || LastDraw_3 < Bars )
{
DrawObject(direction, bar , price);
LastDraw_3 = Bars;
return (1);
}
break;
case 4:
if( LastDraw_4 == 0 || LastDraw_4 < Bars )
{
DrawObject(direction, bar , price);
LastDraw_4 = Bars;
return (1);
}
break;
}
}
void DrawObject(int direction, int bar , double price)
{
static int count = 0;
count++;
string Obj = "";
if (direction==1) //up arrow
{
Obj = "xpMA_up_" + DoubleToStr(count,0);
ObjectCreate(Obj,OBJ_ARROW,0,Time[bar],price);
ObjectSet(Obj,OBJPROP_COLOR,UpArrowColor);
ObjectSet(Obj,OBJPROP_ARROWCODE,UpArrowCode);
ObjectSet(Obj,OBJPROP_WIDTH,DownArrowSize);
}
if (direction==2) //down arrow
{
Obj = "xpMA_down_" + DoubleToStr(count,0);
ObjectCreate(Obj,OBJ_ARROW,0,Time[bar],price);
ObjectSet(Obj,OBJPROP_COLOR,DownArrowColor);
ObjectSet(Obj,OBJPROP_ARROWCODE,DownArrowCode);
ObjectSet(Obj,OBJPROP_WIDTH,DownArrowSize);
}
ObjectsRedraw();
}
void DeleteAllObjects()
{
int objs = ObjectsTotal();
string name;
for(int cnt=ObjectsTotal()-1;cnt>=0;cnt--)
{
name=ObjectName(cnt);
if (StringFind(name,"xpMA",0)>-1) ObjectDelete(name);
ObjectsRedraw();
}
}
bool AlertOnce(string alert_msg, int ref)
{
static int LastAlert_1 = 0;
static int LastAlert_2 = 0;
static int LastAlert_3 = 0;
static int LastAlert_4 = 0;
switch(ref)
{
case 1:
if( LastAlert_1 == 0 || LastAlert_1 < Bars )
{
Alert(alert_msg);
LastAlert_1 = Bars;
return (1);
}
break;
case 2:
if( LastAlert_2 == 0 || LastAlert_2 < Bars )
{
Alert(alert_msg);
LastAlert_2 = Bars;
return (1);
}
break;
case 3:
if( LastAlert_3 == 0 || LastAlert_3 < Bars )
{
Alert(alert_msg);
LastAlert_3 = Bars;
return (1);
}
break;
case 4:
if( LastAlert_4 == 0 || LastAlert_4 < Bars )
{
Alert(alert_msg);
LastAlert_4 = Bars;
return (1);
}
break;
}
}
bool SendMailOnce(string subject, string mail_msg, int ref)
{
static int LastMail_1 = 0;
static int LastMail_2 = 0;
static int LastMail_3 = 0;
static int LastMail_4 = 0;
switch(ref)
{
case 1:
if( LastMail_1 == 0 || LastMail_1 < Bars )
{
SendMail(subject,mail_msg);
LastMail_1 = Bars;
return (1);
}
break;
case 2:
if( LastMail_2 == 0 || LastMail_2 < Bars )
{
SendMail(subject,mail_msg);
LastMail_2 = Bars;
return (1);
}
break;
case 3:
if( LastMail_3 == 0 || LastMail_3 < Bars )
{
SendMail(subject,mail_msg);
LastMail_3 = Bars;
return (1);
}
break;
case 4:
if( LastMail_4 == 0 || LastMail_4 < Bars )
{
SendMail(subject,mail_msg);
LastMail_4 = Bars;
return (1);
}
break;
}
}
void TakeScreenShot(int exit_on = -1)
{
int count = 1;
if(!GlobalVariableCheck("ssc"))
{
GlobalVariableSet("ssc",1);
count = 1;
}
else
{
count = GlobalVariableGet("ssc") + 1;
GlobalVariableSet("ssc",count);
}
if ( exit_on > 0 && count > exit_on ) return(0);
string filename = "xpMA\\" + "xpMA_" + Symbol() + "_" + DoubleToStr(count,0) + ".jpg";
ScreenShot(filename,320,480);
}
string PeriodToText()
{
switch (Period())
{
case 1:
return("M1");
break;
case 5:
return("M5");
break;
case 15:
return("M15");
break;
case 30:
return("M30");
break;
case 60:
return("H1");
break;
case 240:
return("H4");
break;
case 1440:
return("D1");
break;
case 10080:
return("W1");
break;
case 43200:
return("MN1");
break;
}
}
void StampVersion(string pro , string ver , int x , int y)
{
string Obj="Stamp_" + pro;
int objs = ObjectsTotal();
string name;
for(int cnt=0;cnt<ObjectsTotal();cnt++)
{
name=ObjectName(cnt);
if (StringFind(name,Obj,0)>-1)
{
ObjectSet(Obj,OBJPROP_XDISTANCE,x);
ObjectSet(Obj,OBJPROP_YDISTANCE,y);
ObjectsRedraw();
}
else
{
ObjectCreate(Obj,OBJ_LABEL,0,0,0);
ObjectSetText(Obj,pro + " - " + ver,8,"arial",Orange);
ObjectSet(Obj,OBJPROP_XDISTANCE,x);
ObjectSet(Obj,OBJPROP_YDISTANCE,y);
ObjectsRedraw();
}
}
if (ObjectsTotal() == 0)
{
ObjectCreate(Obj,OBJ_LABEL,0,0,0);
ObjectSetText(Obj,pro + " - " + ver,8,"arial",Orange);
ObjectSet(Obj,OBJPROP_XDISTANCE,x);
ObjectSet(Obj,OBJPROP_YDISTANCE,y);
ObjectsRedraw();
}
return(0);
}
void DeleteStamp()
{
int objs = ObjectsTotal();
string name;
for(int cnt=ObjectsTotal()-1;cnt>=0;cnt--)
{
name=ObjectName(cnt);
if (StringFind(name,"Stamp",0)>-1) ObjectDelete(name);
ObjectsRedraw();
}
}
string GenVer()
{
string t1;
if(MA_Type==0) t1="SMA";
if(MA_Type==1) t1="EMA";
if(MA_Type==2) t1="SMMA";
if(MA_Type==3) t1="LWMA";
if(MA_Type==4) t1="DEMA";
if(MA_Type==5) t1="TEMA";
if(MA_Type==6) t1="T3MA";
if(MA_Type==7) t1="JMA";
if(MA_Type==8) t1="HMA";
if(MA_Type==9) t1="DECEMA";
if(MA_Type==10) t1="SALT";
return (t1+"("+MA_Period+")");
}
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