/*-----------------------------+
| |
| Shared by www.Aptrafx.com |
| |
+------------------------------*/
//+--------------------------------------------------------------------+
//| TII_RLH |
//| Copyright © 2006, Robert Hill |
//| http://www.metaquotes.net/ |
//| |
//| Based on the formula developed by M. H. PEE |
//| |
//| Trend Intensity Index. |
//| |
//| TII is used to indicate the strength of the current trend in the |
//| market. The stronger the current trend, the more likely the |
//| market will continue moving in the current direction. |
//| It is recommended to enter the market during a strong trend |
//| and ride it until TII shows signs of a reversal, at which time |
//| you should abandon your position and prepare to enter in the |
//| opposite direction. |
//| Pee recommends using a major period of 60 and a minor period of 30.|
//| Assuming these setting, TII is calculated as follows. |
//| The 60 bar simple moving average (MA) is computed. |
//| The deviation between the closing price and this computed average |
//| for each of the last 30 bars is computed (CL - MA). |
//| Positive deviations (CL > MA) are summed to give SDPOS. |
//| Negative deviations (CL < MA) are summed to give SDNEG. |
//| Then, the 30 period TII is calculated as: |
//| 100 * SDPOS / (SDPOS - SDNEG). |
//| TII ranges from a lower limit of 0 to an upper limit of 100 |
//| A TII value above 50 signals an uptrend |
//| A TII value of 80 means that 80% of the total deviations are up |
//| When TII fall below 50, a downtrend is likely in place |
//| 50 represents a level that is trend-neutral |
//| The closer TII is to 100, the stronger the current uptrend |
//| The closer TII is to 0, the stronger the current downtrend |
//| |
//+--------------------------------------------------------------------+
#property copyright "Copyright © 2006, Robert Hill "
#property link "http://www.metaquotes.net/"
//---- indicator settings
#property indicator_separate_window
#property indicator_buffers 1
#property indicator_color1 Red
#property indicator_width1 2
extern int Major_Period = 60;
extern int Major_MaMode = 1; //0=sma, 1=ema, 2=smma, 3=lwma, 4=lsma
extern int Major_PriceMode = 0;//0=close, 1=open, 2=high, 3=low, 4=median(high+low)/2, 5=typical(high+low+close)/3, 6=weighted(high+low+close+close)/4
extern int Minor_Period = 30;
extern color LevelColor = Silver;
extern int BuyLevel = 20;
extern int MidLevel = 50;
extern int SellLevel = 80;
//---- buffers
double ma[];
double ma_dev[];
double tii[];
//+------------------------------------------------------------------+
//| Custom indicator initialization function |
//+------------------------------------------------------------------+
int init()
{
//---- drawing settings
IndicatorBuffers(3);
SetIndexStyle(0,DRAW_LINE);
SetIndexDrawBegin(0,Major_Period);
IndicatorDigits(MarketInfo(Symbol(),MODE_DIGITS)+2);
//---- 3 indicator buffers mapping
if(!SetIndexBuffer(0,tii) &&
!SetIndexBuffer(1,ma_dev) &&
!SetIndexBuffer(2,ma))
Print("cannot set indicator buffers!");
//---- name for DataWindow and indicator subwindow label
IndicatorShortName(" TII , Major_Period ( "+Major_Period+" ) , Minor_Period ( "+Minor_Period+" ), ");
SetLevelStyle(STYLE_DASH,1,LevelColor);
SetLevelValue(0,BuyLevel);
SetLevelValue(1,MidLevel);
SetLevelValue(2,SellLevel);
//---- initialization done
return(0);
}
//+------------------------------------------------------------------+
//| LSMA with PriceMode |
//| PrMode 0=close, 1=open, 2=high, 3=low, 4=median(high+low)/2, |
//| 5=typical(high+low+close)/3, 6=weighted(high+low+close+close)/4 |
//+------------------------------------------------------------------+
double LSMA(int Rperiod, int prMode, int shift)
{
int i;
double sum, pr;
int length;
double lengthvar;
double tmp;
double wt;
length = Rperiod;
sum = 0;
for(i = length; i >= 1 ; i--)
{
lengthvar = length + 1;
lengthvar /= 3;
tmp = 0;
switch (prMode)
{
case 0: pr = Close[length-i+shift];break;
case 1: pr = Open[length-i+shift];break;
case 2: pr = High[length-i+shift];break;
case 3: pr = Low[length-i+shift];break;
case 4: pr = (High[length-i+shift] + Low[length-i+shift])/2;break;
case 5: pr = (High[length-i+shift] + Low[length-i+shift] + Close[length-i+shift])/3;break;
case 6: pr = (High[length-i+shift] + Low[length-i+shift] + Close[length-i+shift] + Close[length-i+shift])/4;break;
}
tmp = ( i - lengthvar)*pr;
sum+=tmp;
}
wt = sum*6/(length*(length+1));
return(wt);
}
int start()
{
int i,j, limit;
double sdPos, sdNeg;
int counted_bars=IndicatorCounted();
if(counted_bars>0) counted_bars--;
limit=Bars-counted_bars;
for(i = limit; i >= 0; i--)
{
if (Major_MaMode == 4)
{
ma[i] = LSMA(Major_Period, Major_PriceMode, i);
}
else
{
ma[i] = iMA(NULL,0,Major_Period,0,Major_MaMode,Major_PriceMode,i);
}
ma_dev[i] = Close[i] - ma[i];
}
//========== COLOR CODING ===========================================
for(i = 0; i <=limit; i++)
{
sdPos = 0;
sdNeg = 0;
for (j=i;j<i+Minor_Period;j++)
{
if (ma_dev[j] >= 0) sdPos = sdPos + ma_dev[j];
if (ma_dev[j] < 0) sdNeg = sdNeg + ma_dev[j];
}
tii[i] = 100 * sdPos/(sdPos - sdNeg);
}
return(0);
}
//+------------------------------------------------------------------+
Sample
Analysis
Market Information Used:
Series array that contains close prices for each bar
Series array that contains open prices of each bar
Series array that contains the highest prices of each bar
Series array that contains the lowest prices of each bar
Indicator Curves created:
Implements a curve of type DRAW_LINE
Indicators Used:
Moving average indicator
Custom Indicators Used:
Order Management characteristics:
Other Features: