//+------------------------------------------------------------------+
//| PriceChannel_Stop_v1.3.mq4 |
//| Copyright © 2006-08, Forex-TSD.com |
//| Written by IgorAD,igorad2003@yahoo.co.uk |
//| http://finance.groups.yahoo.com/group/TrendLaboratory |
//+------------------------------------------------------------------+
#property copyright "Copyright © 20006-08, Forex-TSD.com "
#property link "http://www.forex-tsd.com/"
#property indicator_chart_window
#property indicator_buffers 4
#property indicator_color1 Aqua
#property indicator_color2 Magenta
#property indicator_color3 Aqua
#property indicator_color4 Magenta
//---- input parameters
extern int ChannelPeriod= 9; //Price Channel Period
extern double Risk = 0.30; //Channel narrowing factor (0...0,5)
extern int SignalMode = 1; //0-Signal off,1-on
extern int AlertMode = 0; //0-alert off,1-on
extern int VisualMode = 0; //0-lines,1-dots
extern int EmailMode = 0; //0-Email off,1-on
//extern int Nbars=1000;
//---- indicator buffers
double UpBuffer[];
double DnBuffer[];
double UpSignal[];
double DnSignal[];
double smin[];
double smax[];
double trend[];
bool UpTrendAlert=false, DnTrendAlert=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);
if(VisualMode==0)
{
SetIndexStyle(0,DRAW_LINE);
SetIndexStyle(1,DRAW_LINE);
}
else
{
SetIndexStyle(0,DRAW_ARROW);
SetIndexStyle(1,DRAW_ARROW);
SetIndexArrow(0,159);
SetIndexArrow(1,159);
}
SetIndexStyle(2,DRAW_ARROW);
SetIndexStyle(3,DRAW_ARROW);
SetIndexArrow(2,108);
SetIndexArrow(3,108);
//---- name for DataWindow and indicator subwindow label
short_name="PriceChannel_Stop_v1.3("+ChannelPeriod+","+DoubleToStr(Risk,3)+")";
IndicatorShortName(short_name);
SetIndexLabel(0,"UpTrend");
SetIndexLabel(1,"DnTrend");
SetIndexLabel(2,"UpSignal");
SetIndexLabel(3,"DnSignal");
//----
SetIndexDrawBegin(0,ChannelPeriod);
SetIndexDrawBegin(1,ChannelPeriod);
SetIndexDrawBegin(2,ChannelPeriod);
SetIndexDrawBegin(3,ChannelPeriod);
//----
return(0);
}
//+------------------------------------------------------------------+
//| PriceChannel_Stop_v1.3 |
//+------------------------------------------------------------------+
int start()
{
int i,shift, counted_bars=IndicatorCounted(),limit;
double hi, lo, price;
string Message;
if ( counted_bars > 0 ) limit=Bars-counted_bars;
if ( counted_bars < 0 ) return(0);
if ( counted_bars ==0 ) limit=Bars-ChannelPeriod-1;
if ( counted_bars < 1 )
for(i=1;i<ChannelPeriod;i++)
{
UpBuffer[shift]=EMPTY_VALUE;
DnBuffer[shift]=EMPTY_VALUE;
UpSignal[shift]=EMPTY_VALUE;
DnSignal[shift]=EMPTY_VALUE;
}
for (shift=limit;shift>=0;shift--)
{
lo = Low[iLowest(NULL,0,MODE_LOW,ChannelPeriod,shift)];
hi = High[iHighest(NULL,0,MODE_HIGH,ChannelPeriod,shift)];
smax[shift] = hi - (hi-lo)*Risk;
smin[shift] = lo + (hi-lo)*Risk;
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 (SignalMode > 0 && trend[shift+1] != trend[shift]) UpSignal[shift] = smin[shift];
else UpSignal[shift] = EMPTY_VALUE;
if (SignalMode == 2) UpBuffer[shift] = EMPTY_VALUE;
DnBuffer[shift] = EMPTY_VALUE;
DnSignal[shift] = EMPTY_VALUE;
}
else
if(trend[shift] < 0)
{
if(smax[shift] > smax[shift+1]) smax[shift] = smax[shift+1];
DnBuffer[shift] = smax[shift];
if(SignalMode > 0 && trend[shift+1] != trend[shift]) DnSignal[shift] = smax[shift];
if(SignalMode == 2) DnBuffer[shift] = EMPTY_VALUE;
UpBuffer[shift] = EMPTY_VALUE;
UpSignal[shift] = EMPTY_VALUE;
}
}
if(trend[2]<0 && trend[1]>0 && Volume[0]>1 && !UpTrendAlert)
{
Message = " "+Symbol()+" M"+Period()+": Signal for BUY";
if(AlertMode > 0) Alert (Message);
if(EmailMode > 0) SendMail ("Signal from PriceChannel_Stop",TimeToStr(CurTime())+Message);
UpTrendAlert=true; DnTrendAlert=false;
}
else
if(trend[2]>0 && trend[1]<0 && Volume[0]>1 && !DnTrendAlert)
{
Message = " "+Symbol()+" M"+Period()+": Signal for SELL";
if ( AlertMode > 0) Alert (Message);
if ( EmailMode > 0) SendMail ("Signal from PriceChannel_Stop",TimeToStr(CurTime())+Message);
DnTrendAlert=true; UpTrendAlert=false;
}
return(0);
}
//+------------------------------------------------------------------+
Sample
Analysis
Market Information Used:
Series array that contains the lowest prices of each bar
Series array that contains the highest 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:
Custom Indicators Used:
Order Management characteristics:
Other Features: