//+------------------------------------------------------------------+
//| My_HourTrend.mq4 |
//| Copyright © 2009, InvestMoneyLab.com |
//| http://www.investmoneylab.com |
//+------------------------------------------------------------------+
//+------------------------------------------------------------------+
//| Checking the overall market trend based on the hourly chart |
//| Return 2 if it is STRONG UP Trend |
//| Return 1 if it is WEAK UP Trend |
//| Return 0 if it is NO Trend |
//| Return -1 if it is WEAK DOWN Trend |
//| Return -2 if it is STRONG DOWN Trend |
//+------------------------------------------------------------------+
#property copyright "Copyright © 2009, InvestMoneyLab.com"
#property link "http://www.investmoneylab.com"
#property indicator_separate_window
#property indicator_minimum -3
#property indicator_maximum 3
#property indicator_buffers 1
#property indicator_color1 Red
//---- input parameters
extern int ROCMA_Period=200;
extern int ROC_Period=200;
extern int Hist_ShortPeriod=80;
extern int Hist_LongPeriod=200;
//---- buffers
double Buf_0[];
//+------------------------------------------------------------------+
//| Custom indicator initialization function |
//+------------------------------------------------------------------+
int init()
{
//---- indicators
SetIndexStyle(0,DRAW_LINE);
SetIndexBuffer(0,Buf_0);
SetIndexDrawBegin(0,Hist_LongPeriod);
//----
return(0);
}
//+------------------------------------------------------------------+
//| Custom indicator deinitialization function |
//+------------------------------------------------------------------+
int deinit()
{
//----
//----
return(0);
}
//+------------------------------------------------------------------+
//| Custom indicator iteration function |
//+------------------------------------------------------------------+
int start()
{
int i, counted_bars=IndicatorCounted();
double ROC_MA, ROC_MA_Lag;
double MADiff_Current, MADiff_Previous;
int HourIndex, ROCTrend, MADiff_Trend, Overall_Trend;
static int MADiff_Trend_Previous;
//----
if(Bars<=Hist_LongPeriod) return(0);
i=Bars-counted_bars-1;
Print("Bar is ", Bars);
Print("Counted Bars is ", counted_bars);
while(i>=0)
{
// Obtain the corresponding bar index on the hourly chart
HourIndex = iBarShift(NULL,PERIOD_M30,iTime(NULL,0,i));
if (HourIndex != -1)
{
// Compute ROC Trend
ROC_MA = iMA(NULL,PERIOD_M30,ROCMA_Period,0,1,PRICE_OPEN,HourIndex);
ROC_MA_Lag = iMA(NULL,PERIOD_M30,ROCMA_Period,0,1,PRICE_OPEN,HourIndex+ROC_Period);
if (ROC_MA > ROC_MA_Lag) ROCTrend = 1;
else if (ROC_MA < ROC_MA_Lag) ROCTrend = -1;
else ROCTrend = 0;
// Compute MADiff Trend
MADiff_Current = (iMA(NULL,PERIOD_M30,Hist_ShortPeriod,0,1,PRICE_OPEN,HourIndex) - iMA(NULL,PERIOD_M30,Hist_LongPeriod,0,1,PRICE_OPEN,HourIndex));
MADiff_Previous = (iMA(NULL,PERIOD_M30,Hist_ShortPeriod,0,1,PRICE_OPEN,HourIndex+1) - iMA(NULL,PERIOD_M30,Hist_LongPeriod,0,1,PRICE_OPEN,HourIndex+1));
if (MADiff_Current > MADiff_Previous && MathAbs(MADiff_Current - MADiff_Previous) < 0.0002 && MADiff_Trend_Previous == -1)
{
MADiff_Trend = -1;
}
else if (MADiff_Current > MADiff_Previous)
{
MADiff_Trend = 1;
MADiff_Trend_Previous = 1;
}
else if (MADiff_Current < MADiff_Previous && MathAbs(MADiff_Current - MADiff_Previous) < 0.0002 && MADiff_Trend_Previous == 1)
{
MADiff_Trend = 1;
}
else if (MADiff_Current < MADiff_Previous)
{
MADiff_Trend = -1;
MADiff_Trend_Previous = -1;
}
if (ROCTrend == 1 && MADiff_Trend == 1) Overall_Trend = 2; // Strong Up Trend
else if (ROCTrend == -1 && MADiff_Trend == 1) Overall_Trend = 1; // Weak Up Trend
else if (ROCTrend == -1 && MADiff_Trend == -1) Overall_Trend = -2; // Strong Down Trend
else if (ROCTrend == 1 && MADiff_Trend == -1) Overall_Trend = -1; // Weak Down Trend
else Overall_Trend = 0;
Buf_0[i] = Overall_Trend;
}
i--;
}
//----
return(0);
}
//+------------------------------------------------------------------+
Sample
Analysis
Market Information Used:
Indicator Curves created:
Implements a curve of type DRAW_LINE
Indicators Used:
Moving average indicator
Custom Indicators Used:
Order Management characteristics:
Other Features: