//+------------------------------------------------------------------+
//| ChandelierStops_v1.1.mq4 |
//| Copyright © 2006-07, Forex-TSD.com |
//| Written by IgorAD,igorad2003@yahoo.co.uk |
//| http://finance.groups.yahoo.com/group/TrendLaboratory |
//+------------------------------------------------------------------+
#property copyright "Copyright © 2006-07, Forex-TSD.com "
#property link "http://www.forex-tsd.com/"
#property indicator_chart_window
#property indicator_buffers 4
#property indicator_color1 Blue
#property indicator_color2 Red
#property indicator_color3 Blue
#property indicator_color4 Red
#property indicator_width1 2
#property indicator_width2 2
#property indicator_width3 1
#property indicator_width4 1
//---- input parameters
extern int Length=15;
extern int ATRperiod=14;
extern double Kv=4;
extern int Shift=1;
extern int AlertMode=0;
//---- indicator buffers
double UpBuffer[];
double DnBuffer[];
double UpSignal[];
double DnSignal[];
double smin[];
double smax[];
double trend[];
bool UpTrendAlert=false, DownTrendAlert=false;
//+------------------------------------------------------------------+
//| Custom indicator initialization function |
//+------------------------------------------------------------------+
int init()
{
string short_name;
//---- indicator line
IndicatorBuffers(7);
SetIndexBuffer(0,UpBuffer);
SetIndexBuffer(1,DnBuffer);
SetIndexBuffer(2,UpSignal);
SetIndexBuffer(3,DnSignal);
SetIndexBuffer(4,smin);
SetIndexBuffer(5,smax);
SetIndexBuffer(6,trend);
SetIndexStyle(0,DRAW_LINE);
SetIndexStyle(1,DRAW_LINE);
SetIndexStyle(2,DRAW_ARROW);
SetIndexStyle(3,DRAW_ARROW);
SetIndexArrow(2,108);
SetIndexArrow(3,108);
//---- name for DataWindow and indicator subwindow label
short_name="ChandelierStops("+Length+","+ATRperiod+","+DoubleToStr(Kv,3)+")";
IndicatorShortName(short_name);
SetIndexLabel(0,"UpTrend");
SetIndexLabel(1,"DnTrend");
SetIndexLabel(2,"UpSignal");
SetIndexLabel(3,"DnSignal");
//----
SetIndexDrawBegin(0,Length);
SetIndexDrawBegin(1,Length);
SetIndexDrawBegin(2,Length);
SetIndexDrawBegin(3,Length);
//----
return(0);
}
//+------------------------------------------------------------------+
//| ChandelierStops_v1.1 |
//+------------------------------------------------------------------+
int start()
{
int shift,limit, counted_bars=IndicatorCounted();
if ( counted_bars > 0 ) limit=Bars-counted_bars;
if ( counted_bars < 0 ) return(0);
if ( counted_bars ==0 ) limit=Bars-Length-1;
for(shift=limit;shift>=0;shift--)
{
smin[shift] = High[Highest(NULL,0,MODE_HIGH,Length,shift+Shift)] - Kv*iATR(NULL,0,ATRperiod,shift+Shift);
smax[shift] = Low[Lowest(NULL,0,MODE_LOW,Length,shift+Shift)] + Kv*iATR(NULL,0,ATRperiod,shift+Shift);
trend[shift]=trend[shift+1];
if ( Close[shift] > smax[shift+1] ) trend[shift] = 1;
if ( Close[shift] < smin[shift+1] ) trend[shift] = -1;
if ( trend[shift] >0 )
{
if( smin[shift]<smin[shift+1] ) smin[shift]=smin[shift+1];
UpBuffer[shift]=smin[shift];
if(trend[shift+1]!= trend[shift]) UpSignal[shift]=UpBuffer[shift];
else UpSignal[shift]=EMPTY_VALUE;
DnBuffer[shift] = EMPTY_VALUE;
}
if ( trend[shift] <0 )
{
if( smax[shift]>smax[shift+1] ) smax[shift]=smax[shift+1];
DnBuffer[shift] = smax[shift];
if(trend[shift+1]!= trend[shift]) DnSignal[shift]=DnBuffer[shift];
else DnSignal[shift]=EMPTY_VALUE;
UpBuffer[shift]=EMPTY_VALUE;
}
}
//----------
string Message;
if ( trend[2]<0 && trend[1]>0 && Volume[0]>1 && !UpTrendAlert)
{
Message = " "+Symbol()+" M"+Period()+": Signal for BUY";
if ( AlertMode>0 ) Alert (Message);
UpTrendAlert=true; DownTrendAlert=false;
}
if ( trend[2]>0 && trend[1]<0 && Volume[0]>1 && !DownTrendAlert)
{
Message = " "+Symbol()+" M"+Period()+": Signal for SELL";
if ( AlertMode>0 ) Alert (Message);
DownTrendAlert=true; UpTrendAlert=false;
}
//----
return(0);
}
Sample
Analysis
Market Information Used:
Series array that contains the highest prices of each bar
Series array that contains the lowest prices of each bar
Series array that contains close prices for each bar
Series array that contains tick volumes of each bar
Indicator Curves created:
Implements a curve of type DRAW_LINE
Implements a curve of type DRAW_ARROW
Indicators Used:
Indicator of the average true range
Custom Indicators Used:
Order Management characteristics:
Other Features: