//+------------------------------------------------------------------+
//| Indicator_Strength.mq4 |
//| DesO'Regan |
//| mailto: oregan_des@hotmail.com |
//+------------------------------------------------------------------+
// ===================================================================================
// This indicator displays, in histogram form, the difference between either:
// 1. a fast and slow moving average (MA_Power=true)
// 2. main and signal lines of a MACD indicator (MACD_Power=true)
// 3. main and signal lines of a stochastic indicator (Stochastic_Power=true)
// Only one option can be choosen (default is moving average) at any one time,
// although another indicator can be opened for another option.
// This indicator also displays average levels of difference values above and
// below the zero line. This feature can be disabled (Set_Levels=false).
// This indicator is meant to gauge the power/strength behind a price move.
// ===================================================================================
#property copyright "DesORegan"
#property link "mailto: oregan_des@hotmail.com"
#property indicator_separate_window
#property indicator_buffers 2 //two buffers, one for above zero line, one for below
#property indicator_color1 Green // above zero line color
#property indicator_color2 Red // below zero line color
//---- input parameters
extern bool MA_Power=true; // MA Indicator Strength ON/OFF
extern bool MACD_Power=false; // MACD Indicator Strength ON/OFF
extern bool Stochastic_Power=false; // Stochastic Indicator Strength ON/OFF
extern int MA_Fast=13; // default indicator values
extern int MA_Slow=21;
extern int MACD_Fast=12;
extern int MACD_Slow=26;
extern int MACD_Signal=9;
extern int Sto_K=14;
extern int Sto_D=3;
extern int Sto_Slowing=3;
extern int Back_Bars=500; // history limit
extern bool Set_Levels=true; // average pos/neg indicator levels ON/OFF
//---- buffers
double Power_Buffer_Pos[]; // Pos indicator values
double Power_Buffer_Neg[]; // Neg indicator values
//+------------------------------------------------------------------+
//| Custom indicator initialization function |
//+------------------------------------------------------------------+
int init()
{
//====================================
// Checking Inputs & Set Window Labels
//====================================
if (MA_Power == true && MACD_Power == false && Stochastic_Power == false)
{
IndicatorShortName("Moving Average Strength ("+DoubleToStr(MA_Fast,0)+","+DoubleToStr(MA_Slow,0)+")");
}
else if (MA_Power == false && MACD_Power == true && Stochastic_Power == false)
{
IndicatorShortName("MACD Strength ("+DoubleToStr(MACD_Fast,0)+","+DoubleToStr(MACD_Slow,0)+","+DoubleToStr(MACD_Signal,0)+")");
}
else if (MA_Power == false && MACD_Power == false && Stochastic_Power == true)
{
IndicatorShortName("Stochastic Strength ("+DoubleToStr(Sto_K,0)+","+DoubleToStr(Sto_D,0)+","+DoubleToStr(Sto_Slowing,0)+")");
}
else if (MA_Power == false && MACD_Power == false && Stochastic_Power == false)
{
IndicatorShortName("Invalid Parameters");
Alert("One Power Indicator must be set to True");
return;
}
else
{
IndicatorShortName("Invalid Parameters");
Alert("Only one Power Indicator can be set to True");
return;
}
//=================
// Indicator Setup
//=================
SetIndexStyle(0,DRAW_HISTOGRAM,EMPTY,2); // Pos indicator type and width
SetIndexBuffer(0,Power_Buffer_Pos); //binds buffer to Power_Buffer_Pos
SetIndexDrawBegin(0, Back_Bars); // not sure if necessary but is used to set starting point of indicator (bars back)
SetIndexLabel(0, "Positive Strength"); // sets mouse-over label
SetIndexStyle(1,DRAW_HISTOGRAM,EMPTY,2); // Neg indicator type and width
SetIndexBuffer(1,Power_Buffer_Neg); //binds buffer to Power_Buffer_Neg
SetIndexDrawBegin(1, Back_Bars); // not sure if necessary but is used to set starting point of indicator (bars back)
SetIndexLabel(1, "Negative Strength"); // sets mouse-over label
return(0);
}
//+------------------------------------------------------------------+
//| Custom indicator deinitialization function |
//+------------------------------------------------------------------+
int deinit()
{
return(0);
}
//+------------------------------------------------------------------+
//| Custom indicator iteration function |
//+------------------------------------------------------------------+
int start()
{
//======================
// variable declarations
//======================
int limit; // not used!!
int Bar_Index=0; // bar tracker
int Pos_Bar_Count=0; // pos bar count (needed for averaging)
int Neg_Bar_Count=0; // neg bar count (needed for averaging)
double Total_Pos_Power=0; // stores total pos power/strength value (needed for averaging)
double Average_Pos_Power=0; // current average pos power/strength value
double Total_Neg_Power=0; // stores total neg power/strength value (needed for averaging)
double Average_Neg_Power=0; // current average neg power/strength value
int counted_bars=IndicatorCounted(); // not used!! (yet)
for (Bar_Index = Back_Bars; Bar_Index >=0; Bar_Index--) // MAIN INDICATOR FOR LOOP
{
//=======================
// Indicator Calculations
//=======================
double MA_Fast1 = iMA(Symbol(),0,MA_Fast,0,MODE_EMA,PRICE_CLOSE,Bar_Index);
double MA_Slow1 = iMA(Symbol(),0,MA_Slow,0,MODE_EMA,PRICE_CLOSE,Bar_Index);
double MA_Diff = MA_Fast1 - MA_Slow1;
double MACD_Main = iMACD(Symbol(),0,MACD_Fast,MACD_Slow,MACD_Signal,PRICE_CLOSE,MODE_MAIN,Bar_Index);
double MACD_Signal1 = iMACD(Symbol(),0,MACD_Fast,MACD_Slow,MACD_Signal,PRICE_CLOSE,MODE_SIGNAL,Bar_Index);
double MACD_Diff = MACD_Main - MACD_Signal1;
double Sto_Main = iStochastic(Symbol(),0,Sto_K,Sto_D,Sto_Slowing,MODE_EMA,0,MODE_MAIN,Bar_Index);
double Sto_Signal = iStochastic(Symbol(),0,Sto_K,Sto_D,Sto_Slowing,MODE_EMA,0,MODE_SIGNAL,Bar_Index);
double Sto_Diff = Sto_Main - Sto_Signal;
//=================
// MA Strength
//=================
if (MA_Power == true && MA_Diff > 0)
{
Power_Buffer_Pos[Bar_Index] = MA_Diff; // pos indicator value
Power_Buffer_Neg[Bar_Index] = 0; // neg indicator value
Pos_Bar_Count = Pos_Bar_Count + 1;
Total_Pos_Power = Total_Pos_Power + MA_Diff;
}
else if (MA_Power == true && MA_Diff < 0)
{
Power_Buffer_Pos[Bar_Index] = 0; // pos indicator value
Power_Buffer_Neg[Bar_Index] = MA_Diff; // neg indicator value
Neg_Bar_Count = Neg_Bar_Count + 1;
Total_Neg_Power = Total_Neg_Power + MA_Diff;
}
else if (MA_Power == true && MA_Diff == 0)
{
Power_Buffer_Pos[Bar_Index] = 0;
Power_Buffer_Neg[Bar_Index] = 0;
}
//=================
// MACD Strength
//=================
if (MACD_Power == true && MACD_Diff > 0)
{
Power_Buffer_Pos[Bar_Index] = MACD_Diff; // pos indicator value
Power_Buffer_Neg[Bar_Index] = 0; // neg indicator value
Pos_Bar_Count = Pos_Bar_Count + 1;
Total_Pos_Power = Total_Pos_Power + MACD_Diff;
}
else if (MACD_Power == true && MACD_Diff < 0)
{
Power_Buffer_Pos[Bar_Index] = 0; // pos indicator value
Power_Buffer_Neg[Bar_Index] = MACD_Diff; // neg indicator value
Neg_Bar_Count = Neg_Bar_Count + 1;
Total_Neg_Power = Total_Neg_Power + MACD_Diff;
}
else if (MACD_Power == true && MACD_Diff == 0)
{
Power_Buffer_Pos[Bar_Index] = 0;
Power_Buffer_Neg[Bar_Index] = 0;
}
//====================
// Stochastic Strength
//====================
if (Stochastic_Power == true && Sto_Diff > 0)
{
Power_Buffer_Neg[Bar_Index] = 0; // neg indicator value
Power_Buffer_Pos[Bar_Index] = Sto_Diff; // pos indicator value
Pos_Bar_Count = Pos_Bar_Count + 1;
Total_Pos_Power = Total_Pos_Power + Sto_Diff;
}
else if (Stochastic_Power == true && Sto_Diff < 0)
{
Power_Buffer_Pos[Bar_Index] = 0; // pos indicator value
Power_Buffer_Neg[Bar_Index] = Sto_Diff; // neg indicator value
Neg_Bar_Count = Neg_Bar_Count + 1;
Total_Neg_Power = Total_Neg_Power + Sto_Diff;
}
else if (Stochastic_Power == true && Sto_Diff == 0)
{
Power_Buffer_Neg[Bar_Index] = 0;
Power_Buffer_Pos[Bar_Index] = 0;
}
} // CLOSE OF FOR LOOP
//==============================
// Average Strength Calculations
//==============================
Average_Pos_Power = Total_Pos_Power/Pos_Bar_Count;
Average_Neg_Power = Total_Neg_Power/Neg_Bar_Count;
//=======================
// Setting Average Levels
//=======================
if (Set_Levels == true) // displaying levels
{
SetLevelStyle( EMPTY, 1, Blue) ;
SetLevelValue(1, Average_Pos_Power);
SetLevelValue(2, Average_Neg_Power);
}
else if (Set_Levels == false) // needed to erase old levels if setting Set_Levels to False
{
SetLevelStyle( EMPTY, 1, Gray) ;
SetLevelValue(1, 0);
SetLevelValue(2, 0);
}
return(0);
}
//+------------------------------------------------------------------+
Sample
Analysis
Market Information Used:
Indicator Curves created:
Implements a curve of type DRAW_HISTOGRAM
Indicators Used:
Moving average indicator
MACD Histogram
Stochastic oscillator
Custom Indicators Used:
Order Management characteristics:
Other Features:
It issuies visual alerts to the screen