//+------------------------------------------------------------------+
//| Inverse Fisher Transform of RSI.mq4 |
//| Treberk's Conversion |
//| Treberk's Conversion |
//+------------------------------------------------------------------+
#property copyright "Treberkn\'s Conversion"
#property link "Treberk\'s Conversion"
#property indicator_separate_window
#property indicator_buffers 2
#property indicator_color1 DimGray
#property indicator_color2 Red
//Inputs
extern double HiTrigger= 0.5; // default= 0.5
extern double LoTrigger=-0.5; // default=-0.5
extern int RsiBars=5; // default=5
extern int WmaBars=9; // default=9
extern bool info =false; // default=0
extern bool zer0Bar =false; // default=0
//---- buffers
double ExtMapBuffer1[];
double ExtMapBuffer2[];
//+------------------------------------------------------------------+
//| Custom indicator initialization function |
//+------------------------------------------------------------------+
int init()
{
//---- indicators
SetIndexStyle(0,DRAW_LINE);
SetIndexBuffer(0,ExtMapBuffer2);
SetIndexStyle(1,DRAW_LINE);
SetIndexBuffer(1,ExtMapBuffer1);
//----
return(0);
}
//+------------------------------------------------------------------+
//| Custor indicator deinitialization function |
//+------------------------------------------------------------------+
int deinit()
{
//----
//----
return(0);
}
//+------------------------------------------------------------------+
//| Custom indicator iteration function |
//+------------------------------------------------------------------+
int start()
{
int counted_bars=IndicatorCounted();
//----
// SetLoopCount(0);
//--------------------------------------------------------
//Variables: // Generic
int shift;
int loopBegin;
bool is_First=True;
double prevbars;
int count;
//Variables: // Specific
// Name(\"InvFisher RSI\"),
double Value2;
double IFish;
// for manual calc. RSI
double SumUp;
double SumDn;
double AvgUp;
double AvgDn;
double Delta;
double RSI;
// for calc. WMA
double WmaNumerator;
double WmaDenominator;
datetime LastTime;
double PrevAvgUp;
double PrevAvgDn;
int cntdown;
//Arrays:
// for ( calc. generic WMA (weighted moving average)
double Value1[40];
// Usage
/*[if (info ) {
Alert(\"See Terminal>Journal Tab for ( usage of \\n\",Name);
Print(\"|___________________\");
Print(\"|* \",Name,\" *\");
Print(\"| \",\"Sell: cross under HiTrigger (or under LoTrigger if (no prior cross under HiTrigger)\");
Print(\"| \",\"Buy: cross over LoTrigger (or over HiTrigger if (no prior cross over LoTrigger)\");
Print(\"|* \",Name,\" *\");
Print(\"|```````````````````\");
}]*/
//--------------------------------------------------------
// Check Inputs
if (0>HiTrigger || HiTrigger>1 ) {
Alert("Input Error: must be 0< HiTrigger <1, Cannot=",HiTrigger);
return(0);
}
if (-1>LoTrigger || LoTrigger>0 ) {
Alert("Input Error: must be -1< LoTrigger <0, Cannot=",LoTrigger);
return(0);
}
if (0>RsiBars || RsiBars>50 ) {
Alert("Input Error: must be 0< RsiBars <50, Cannot=",RsiBars);
return(0);
}
//--------------------------------------------------------
// Check for ( additional bars loading or total reloadng.
if (Bars<prevbars || Bars-prevbars>1 ) is_First=True;
prevbars=Bars;
//--------------------------------------------------------
// Pre-Loop setup
// loopbegin prevents counting of previously plotted bars excluding current Bars
if (is_First ) {
loopBegin=Bars-1-1;// BarIndexNumber=Shift=Bars-1...0
// Compute the initial AvgUp & AvgDn for RSI
for ( shift=loopBegin; shift>=loopBegin-RsiBars; shift--) {
Delta=Close[shift]-Close[shift+1];
SumUp=SumUp+MathMax(0,Delta);
SumDn=SumDn-MathMin(0,Delta);
}
AvgUp=SumUp/RsiBars;
AvgDn=SumDn/RsiBars;
loopBegin=loopBegin-RsiBars;
}
//--------------------------------------------------------
// loop from loopbegin to current bar (shift=0)
if (! is_First ) {
if ((Time[0]!=LastTime) ) {
PrevAvgUp = AvgUp;
PrevAvgDn = AvgDn;
AvgUp = 0;
AvgDn = 0;
for ( count=WmaBars-1; count>=1; count--) {
Value1[count]=Value1[count-1];
}
LastTime = Time[0];
}
} else {
if(zer0Bar)cntdown = 0; else cntdown = 1;
}
for ( shift=loopBegin; shift>=cntdown; shift--) {
// Calc RSI manually
Delta=Close[shift]-Close[shift+1];
if (is_First ) {
AvgUp=((RsiBars-1)*AvgUp+MathMax(0,Delta))/RsiBars;
AvgDn=((RsiBars-1)*AvgDn-MathMin(0,Delta))/RsiBars;
} else {
AvgUp=((RsiBars-1)*PrevAvgUp+MathMax(0,Delta))/RsiBars;
AvgDn=((RsiBars-1)*PrevAvgDn-MathMin(0,Delta))/RsiBars;
}
RSI=100-100/(1+AvgUp/AvgDn);
// ) scale RSI to between -5 and +5
/* Do not use iRSI fctn because it\'s too slow
Value1=0.1*(iRSI(RsiBars,shift)-50); */
Value1[0]=0.1*(RSI-50);
// Use weighted moving average to smooth Value1.
// Ehler suggests could also use EMA, which would be simpler coding at the expense of Alpha.
WmaNumerator=0;
WmaDenominator=0;
for ( count=WmaBars; count>= 1; count--) {
WmaNumerator=WmaNumerator+count*Value1[WmaBars-count-1];
WmaDenominator=WmaDenominator+count;
}
Value2=WmaNumerator/WmaDenominator;
IFish=(MathExp(2*Value2)-1)/(MathExp(2*Value2)+1);
ExtMapBuffer1[shift]=IFish;
// SetIndexValue[shift]=RSI;
// Plot dual-value Trigger Line
if (IFish >0 )
ExtMapBuffer2[shift]=HiTrigger;
else
ExtMapBuffer2[shift]=LoTrigger;
//--------------------------------------------------------
// Update arrays. This technique minimizes array storage and thus allows more signal bars.
if (is_First ) for ( count=WmaBars-1; count>= 1; count--) {
Value1[count]=Value1[count-1];
}
//--------------------------------------------------------
}
is_First = False;
cntdown = 0;
loopBegin = 0;
//----
return(0);
}
//+------------------------------------------------------------------+
Sample
Analysis
Market Information Used:
Series array that contains close prices for each bar
Series array that contains open time of each bar
Indicator Curves created:
Implements a curve of type DRAW_LINE
Indicators Used:
Relative strength index
Custom Indicators Used:
Order Management characteristics:
Other Features:
It issuies visual alerts to the screen