//+------------------------------------------------------------------+
//| PriceChannel_Signal_v1.mq4 |
//| Copyright © 2007, TrendLaboratory Ltd. |
//| http://finance.groups.yahoo.com/group/TrendLaboratory |
//| E-mail: igorad2003@yahoo.co.uk |
//+------------------------------------------------------------------+
#property copyright "Copyright © 2007, TrendLaboratory Ltd."
#property link "http://finance.groups.yahoo.com/group/TrendLaboratory"
//---- indicator settings
#property indicator_chart_window
#property indicator_buffers 4
#property indicator_color1 Gold
#property indicator_color2 Gold
#property indicator_color3 Gold
#property indicator_color4 Gold
#property indicator_width1 1
#property indicator_width2 1
#property indicator_width3 1
#property indicator_width4 1
//---- indicator parameters
extern int Length = 9; // Price Channel Period
extern int Applied_Price = 0; // Applied Price:0-C,1-O,2-H,3-L,4-Median,5-Typical,6-Weighted
extern double Risk = 3; // Risk Factor in units (0...10)
extern int UseReEntry = 0; // Re-Entry Mode: 0-off,1-on
extern int AlertMode = 1; // Alert Mode: 0-off,1-on
//---- indicator buffers
double UpSignal[];
double DnSignal[];
double UpEntry[];
double DnEntry[];
double smax[];
double smin[];
double trend[];
bool UpTrendAlert=false, DownTrendAlert=false;
datetime prevTime;
//+------------------------------------------------------------------+
//| Custom indicator initialization function |
//+------------------------------------------------------------------+
int init()
{
string short_name;
//---- drawing settings
IndicatorBuffers(7);
SetIndexStyle(0,DRAW_ARROW);
SetIndexArrow(0,108);
SetIndexStyle(1,DRAW_ARROW);
SetIndexArrow(1,108);
SetIndexStyle(2,DRAW_ARROW);
//SetIndexArrow(2,108);
SetIndexStyle(3,DRAW_ARROW);
//SetIndexArrow(3,108);
IndicatorDigits(MarketInfo(Symbol(),MODE_DIGITS));
//---- indicator short name
IndicatorShortName("PriceChannel_Signal("+Length+")");
SetIndexLabel(0,"UpSignal");
SetIndexLabel(1,"DnSignal");
SetIndexLabel(2,"UpRe-Entry");
SetIndexLabel(3,"DnRe-Entry");
SetIndexDrawBegin(0,Length);
SetIndexDrawBegin(1,Length);
SetIndexDrawBegin(2,Length);
SetIndexDrawBegin(3,Length);
//---- indicator buffers mapping
SetIndexBuffer(0,UpSignal);
SetIndexBuffer(1,DnSignal);
SetIndexBuffer(2,UpEntry);
SetIndexBuffer(3,DnEntry);
SetIndexBuffer(4,smax);
SetIndexBuffer(5,smin);
SetIndexBuffer(6,trend);
//---- initialization done
return(0);
}
//+------------------------------------------------------------------+
//| Custom indicator iteration function |
//+------------------------------------------------------------------+
int start()
{
int limit;
if(Bars<=Length) return(0);
int CountedBars=IndicatorCounted();
//---- check for possible errors
if (CountedBars<0) return(-1);
//---- last counted bar will be recounted
if (CountedBars>0) CountedBars--;
limit=Bars-CountedBars;
//----
for(int i=limit; i>=0; i--)
{
double price = iMA(NULL,0,1,0,0,Applied_Price,i);
double price1 = iMA(NULL,0,1,0,0,Applied_Price,i+1);
double price2 = iMA(NULL,0,1,0,0,Applied_Price,i+2);
double hi = High[iHighest(NULL,0,MODE_HIGH,Length,i)];
double lo = Low[iLowest(NULL,0,MODE_LOW,Length,i)];
smax[i] = hi - (33-Risk)*(hi-lo)/100;
smin[i] = lo + (33-Risk)*(hi-lo)/100;
trend[i]=trend[i+1];
if ( price > smax[i]) trend[i]=1;
if ( price < smin[i]) trend[i]=-1;
if(trend[i]>0)
{
if (trend[i+1]<0) UpSignal[i] = Low[i]-0.5*iATR(NULL,0,Length,i);
if (UseReEntry > 0 && price > smax[i] && price1 <= smax[i+1]) UpEntry[i] = Low[i]-0.5*iATR(NULL,0,Length,i);
DnSignal[i]=EMPTY_VALUE; DnEntry[i]=EMPTY_VALUE;
}
else
if(trend[i]<0)
{
if (trend[i+1]>0) DnSignal[i] = High[i]+0.5*iATR(NULL,0,Length,i);
if (UseReEntry > 0 && price < smin[i] && price1 >= smin[i+1]) DnEntry[i] = High[i]+0.5*iATR(NULL,0,Length,i);
UpSignal[i]=EMPTY_VALUE; UpEntry[i]=EMPTY_VALUE;
}
//----------
if (i==0 && AlertMode > 0)
{
if (trend[i+1] > 0 && Volume[0]>1)
{
if (trend[i+2]<0 && !UpTrendAlert)
{
string Message = " "+Symbol()+" M"+Period()+": Signal for BUY";
Alert (Message);
UpTrendAlert=true; DownTrendAlert=false;
}
if (UseReEntry>0 && trend[i+2]>0 && price1 > smax[i+1] && price2 < smax[i+2] && Time[i]!=prevTime)
{
Message = " "+Symbol()+" M"+Period()+": Re-Entry for BUY";
Alert (Message);
prevTime = Time[i];
}
}
else
if (trend[i+1] < 0 && Volume[0]>1)
{
if ( trend[i+2]>0 && !DownTrendAlert)
{
Message = " "+Symbol()+" M"+Period()+": Signal for SELL";
Alert (Message);
DownTrendAlert=true; UpTrendAlert=false;
}
if (UseReEntry>0 && trend[i+2]<0 && price1 < smin[i+1] && price2 > smin[i+2] && Time[i]!=prevTime)
{
Message = " "+Symbol()+" M"+Period()+": Re-Entry for SELL";
Alert (Message);
prevTime = Time[i];
}
}
}
}
//---- done
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 tick volumes of each bar
Series array that contains open time of each bar
Indicator Curves created:
Implements a curve of type DRAW_ARROW
Indicators Used:
Moving average indicator
Indicator of the average true range
Custom Indicators Used:
Order Management characteristics:
Other Features: