//+------------------------------------------------------------------+
//| Trending or Ranging? |
//| ToR_1.02.mq4 |
//| Copyright © 2007 Tom Balfe |
//| |
//| This indicator shows you whether a pair is trending or ranging. |
//| For trending markets use moving averages and for ranging |
//| market use oscillators. |
//| |
//| It shows ADX values for multiple timeframes to help you |
//| decide which trading technique to use. |
//| Sometimes you'll see short-term trends against the H4 |
//| and D1 trend. |
//| |
//| It's up to you whether you trade in a ranging market. It seems |
//| to me that trading with the long-term trend is best. |
//| Having said that, the reason why I made this indicator is to |
//| to let the trader decide at a glance what to do, or even to |
//| do nothing. Staying out of a market is a position too. |
//| |
//| If you want to chat about FOREX my friends and I made an IRC |
//| channel on Undernet called #forex. |
//| |
//| Best of luck in all your trades! |
//| |
//| Version: 1.02 |
//| |
//| Changelog: |
//| 1.02 - added arrows, ranging icon, no zero space state |
//| for icons/arrows, spacing got messed up, now |
//| fixed |
//| 1.01 - unreleased, reduced number of colors, functional |
//| 1.0 - unreleased, too many colors for ADX values |
//| |
//| http://www.forex-tsd.com/members/nittany1.html |
//+------------------------------------------------------------------+
#property copyright "Copyright © 2007 Tom Balfe"
#property link "http://www.forex-tsd.com/members/nittany1.html"
#property link "redcarsarasota@yahoo.com"
#property indicator_separate_window
#define labelNames "Tor 1.03"
int spread;
//---- user selectable stuff
extern int SpreadThreshold=6;
extern bool Show_D1_ADX=true;
double alertBar;
double prev;
//+------------------------------------------------------------------+
//| Custom indicator initialization function |
//+------------------------------------------------------------------+
int init()
{
//---- indicator short name
IndicatorShortName("ToR 1.03 ("+Symbol()+")");
return(0);
}
//+------------------------------------------------------------------+
//| Custom indicator deinitialization function |
//+------------------------------------------------------------------+
int deinit()
{
for(int i = 1; i < 7; i++) deleteObject(i);
return(0);
}
//+------------------------------------------------------------------+
//| Custom indicator iteration function |
//+------------------------------------------------------------------+
int start()
{
//---- let's define some stuff
// M5 data
//double adx_m5 = iADX(NULL,5,14,PRICE_CLOSE,0,0);
//double di_p_m5 = iADX(NULL,5,14,PRICE_CLOSE,1,0);
//double di_m_m5 = iADX(NULL,5,14,PRICE_CLOSE,2,0);
// M15 data
//double adx_m15 = iADX(NULL,15,14,PRICE_CLOSE,0,0);
//double di_p_m15 = iADX(NULL,15,14,PRICE_CLOSE,1,0);
//double di_m_m15 = iADX(NULL,15,14,PRICE_CLOSE,2,0);
// M30 data
//double adx_m30 = iADX(NULL,30,14,PRICE_CLOSE,0,0);
//double di_p_m30 = iADX(NULL,30,14,PRICE_CLOSE,1,0);
//double di_m_m30 = iADX(NULL,30,14,PRICE_CLOSE,2,0);
// H1 data
double adx_h1 = iADX(NULL,60,14,PRICE_CLOSE,0,0);
double di_p_h1 = iADX(NULL,60,14,PRICE_CLOSE,1,0);
double di_m_h1 = iADX(NULL,60,14,PRICE_CLOSE,2,0);
// H4 data
double adx_h4 = iADX(NULL,240,14,PRICE_CLOSE,0,0);
double di_p_h4 = iADX(NULL,240,14,PRICE_CLOSE,1,0);
double di_m_h4 = iADX(NULL,240,14,PRICE_CLOSE,2,0);
// D1 data
double adx_d1 = iADX(NULL,1440,14,PRICE_CLOSE,0,0);
double di_p_d1 = iADX(NULL,1440,14,PRICE_CLOSE,1,0);
double di_m_d1 = iADX(NULL,1440,14,PRICE_CLOSE,2,0);
//---- define colors and arrows
color adx_color_m5,adx_color_m15,adx_color_m30,adx_color_h1,adx_color_h4,adx_color_d1;
string adx_arrow_m5,adx_arrow_m15,adx_arrow_m30,adx_arrow_h1,adx_arrow_h4,adx_arrow_d1;
//---- store values into strings
//string adx_value_m5 = adx_m5;
//string adx_value_m15 = adx_m15;
//string adx_value_m30 = adx_m30;
string adx_value_h1 = adx_h1;
string adx_value_h4 = adx_h4;
string adx_value_d1 = adx_d1;
//---- assign colors
//adx_color_m5 = setColor(adx_m5 ,di_p_m5 ,di_m_m5);
//adx_color_m15 = setColor(adx_m15,di_p_m15,di_m_m15);
//adx_color_m30 = setColor(adx_m30,di_p_m30,di_m_m30);
adx_color_h1 = setColor(adx_h1 ,di_p_h1 ,di_m_h1);
adx_color_h4 = setColor(adx_h4 ,di_p_h4 ,di_m_h4);
adx_color_d1 = setColor(adx_d1 ,di_p_d1 ,di_m_d1);
//---- assign arrows
//adx_arrow_m5 = setArrow(adx_m5 ,di_p_m5 ,di_m_m5);
//adx_arrow_m15 = setArrow(adx_m15 ,di_p_m15 ,di_m_m15);
//adx_arrow_m30 = setArrow(adx_m30 ,di_p_m30 ,di_m_m30);
adx_arrow_h1 = setArrow(adx_h1 ,di_p_h1 ,di_m_h1);
adx_arrow_h4 = setArrow(adx_h4 ,di_p_h4 ,di_m_h4);
adx_arrow_d1 = setArrow(adx_d1 ,di_p_d1 ,di_m_d1);
//---- alert
if (prev != 1 && adx_arrow_m5 == "é" && adx_arrow_m15 == "é" && adx_arrow_m5 != "h" && adx_arrow_m15 != "h" && Bars>alertBar) {Alert("5 & 15 min ToR changing to Up on ",Symbol()," ", Period());alertBar = Bars;prev=1;}
if (prev != 2 && adx_arrow_m5 == "ê" && adx_arrow_m15 == "ê" && adx_arrow_m5 != "h" && adx_arrow_m15 != "h" && Bars>alertBar) {Alert("5 & 15 min ToR changing to Down on ",Symbol()," ", Period());alertBar = Bars;prev=2;}
//---- show it
//setLabel(1," 5 Min:",95 ,adx_value_m5 ,adx_color_m5 ,adx_arrow_m5);
//setLabel(2,"15 Min:",228,adx_value_m15,adx_color_m15,adx_arrow_m15);
//setLabel(3,"30 Min:",366,adx_value_m30,adx_color_m30,adx_arrow_m30);
setLabel(4," 1 Hr:",366,adx_value_h1 ,adx_color_h1 ,adx_arrow_h1);
setLabel(5," 4 Hr:",500,adx_value_h4 ,adx_color_h4 ,adx_arrow_h4);
if (Show_D1_ADX)
setLabel(6,"1 day:",642,adx_value_d1 ,adx_color_d1 ,adx_arrow_d1);
else deleteObject(6);
//----
return(0);
}
//+------------------------------------------------------------------+
//| Custom functions and procedures |
//+------------------------------------------------------------------+
color setColor(double first,double second,double third)
{
color retColor;
if ((first < 23) && (first != 0)) { retColor = LightSkyBlue; }
if ((first >=23) && (second > third)) { retColor = Lime; }
if ((first >=23) && (second < third)) { retColor = Red; }
return(retColor);
}
//
//
// ---- assign arrows
// strong up: { adx_arrow_ = "é"; }
// strong down: { adx_arrow_ = "ê"; }
// up: { adx_arrow_ = "ì"; }
// down: { adx_arrow_ = "î"; }
// range: { adx_arrow_ = "h"; }
// use wingdings for these, the h is squiggly line
//
//
string setArrow(double first, double second, double third)
{
string arrow;
if ( first < 23 && first != 0) { arrow = "h"; }
if ((first >= 23 && first < 28) && (second > third)) { arrow = "ì"; }
if ((first >= 23 && first < 28) && (second < third)) { arrow = "î"; }
if ( first >= 28 && (second > third)) { arrow = "é"; }
if ( first >= 28 && (second < third)) { arrow = "ê"; }
return(arrow);
}
//
//
//
//
//
void setLabel(int name,string text,int x,string value, color theColor, string arrow)
{
setObject(name+"0001",text ,x);
setObject(name+"0002"," ADX "+StringSubstr(value,0,5),x+43 ,theColor);
setObject(name+"0003",arrow ,x+116,theColor,"Wingdings");
}
//
//
//
//
//
void setObject(string name,string text,int x,color theColor = LightSteelBlue, string font = "Lucida Sans Regular")
{
string indNames = "ToR 1.03 ("+Symbol()+")";
int window = WindowFind(indNames);
if (ObjectFind(labelNames+name) == -1)
{
ObjectCreate(labelNames+name,OBJ_LABEL,window,0,0);
ObjectSet(labelNames+name,OBJPROP_CORNER,0);
ObjectSet(labelNames+name,OBJPROP_XDISTANCE,x);
ObjectSet(labelNames+name,OBJPROP_YDISTANCE,2);
}
//
//
//
//
//
ObjectSetText(labelNames+name,text,9,font,theColor);
}
void deleteObject(int name)
{
if (ObjectFind(labelNames+name+"0001") > 0) {
ObjectDelete(labelNames+name+"0001");
ObjectDelete(labelNames+name+"0002");
ObjectDelete(labelNames+name+"0003");
}
}
//+------------------------------------------------------------------+
Sample
Analysis
Market Information Used:
Indicator Curves created:
Indicators Used:
Movement directional index
Custom Indicators Used:
Order Management characteristics:
Other Features:
It issuies visual alerts to the screen