//+------------------------------------------------------------------+
//| Turtle Channel Method(Donchain).mq4 |
//| djindyFX@sbcglobal.net |
//| http://www.learncurrencytrading.com/fxforum/blogs/djindyfx/ |
//+------------------------------------------------------------------+
#property copyright "djindyFX@sbcglobal.com"
#property link "http://www.learncurrencytrading.com/fxforum/blogs/djindyfx/"
/* - Original Donchain channel code posted here: http://codebase.mql4.com/ru/1317
Periods: number of bars used for calculating the Donchian channels
3 Seperate Channels are provided, Long term, Medium, and Short Term
Extremes: 1 uses the highest high and the lowest low to create the Channel
0 uses the open of the extremes bar -> the open point of a bar (as well as the close
are the points of maximum probability of concentration of the prices during the bar
3 uses the median point most extreme open and lowest low or highest high
Margins: is the percent of the channel subtrated from the channel border before printing it, negative values are allowed
Advance: the numbers of bars ahead
*/
#property indicator_chart_window
#property indicator_buffers 6
#property indicator_color1 White
#property indicator_color2 White
#property indicator_color3 Yellow
#property indicator_color4 Yellow
#property indicator_color5 Red
#property indicator_color6 Red
//---- input parameters
extern int LngPeriod=50;
extern int MedPeriod=20;
extern int ShtPeriod=10;
extern int Extremes=1;
extern int Margins=0;
extern int Advance=0;
// - Buffers
double Channel1[];
double Channel2[];
double Channel3[];
double Channel4[];
double Channel5[];
double Channel6[];
//+------------------------------------------------------------------+
//| Custom indicator initialization function |
//+------------------------------------------------------------------+
int init()
{
//Comment("Turtle Channel is running");
string LngTop, LngBottom, MedTop, MedBottom, ShtTop, ShtBottom;
//---- indicators
SetIndexStyle(0,DRAW_LINE,STYLE_DOT);
SetIndexStyle(1,DRAW_LINE,STYLE_DOT);
SetIndexStyle(2,DRAW_LINE,STYLE_DASH);
SetIndexStyle(3,DRAW_LINE,STYLE_DASH);
SetIndexStyle(4,DRAW_LINE,STYLE_DASHDOT);
SetIndexStyle(5,DRAW_LINE,STYLE_DASHDOT);
SetIndexBuffer(0,Channel1);
SetIndexBuffer(1,Channel2);
SetIndexBuffer(2,Channel3);
SetIndexBuffer(3,Channel4);
SetIndexBuffer(4,Channel5);
SetIndexBuffer(5,Channel6);
LngTop = "Long Top";
LngBottom = "Long Bottom";
MedTop = "Medium Top";
MedBottom = "Medium Bottom";
ShtTop = "Short Top";
ShtBottom = "Short Bottom";
IndicatorShortName(LngTop);
IndicatorShortName(LngBottom);
IndicatorShortName(MedTop);
IndicatorShortName(MedBottom);
IndicatorShortName(ShtTop);
IndicatorShortName(ShtBottom);
SetIndexLabel(0,LngTop);
SetIndexLabel(1,LngBottom);
SetIndexLabel(2,MedTop);
SetIndexLabel(3,MedBottom);
SetIndexLabel(4,ShtTop);
SetIndexLabel(5,ShtBottom);
//----
return(0);
}
//+------------------------------------------------------------------+
//| Custom indicator deinitialization function |
//+------------------------------------------------------------------+
int deinit()
{
//----
//----
return(0);
}
//+------------------------------------------------------------------+
//| Custom indicator iteration function |
//+------------------------------------------------------------------+
int start()
{
int counted_bars=IndicatorCounted();
int max_bars;
if (counted_bars < 0) return(-1);
if (counted_bars>0) counted_bars--;
max_bars= Bars-1;
double sminl=0, smaxl=0, SsMinl=0, SsMaxl=0;
double sminm=0, smaxm=0, SsMinm=0, SsMaxm=0;
double smins=0, smaxs=0, SsMins=0, SsMaxs=0;
//----
for(int shift = 0; shift< max_bars; shift++)
{ //begin for loop
if(Extremes ==1)
{
SsMaxl = High[iHighest(NULL,0,MODE_HIGH,LngPeriod,shift)];
SsMinl = Low[iLowest(NULL,0,MODE_LOW,LngPeriod,shift)];
SsMaxm = High[iHighest(NULL,0,MODE_HIGH,MedPeriod,shift)];
SsMinm = Low[iLowest(NULL,0,MODE_LOW,MedPeriod,shift)];
SsMaxs = High[iHighest(NULL,0,MODE_HIGH,ShtPeriod,shift)];
SsMins = Low[iLowest(NULL,0,MODE_LOW,ShtPeriod,shift)];
}
else if (Extremes ==3)
{
SsMaxl = (Open[iHighest(NULL,0,MODE_OPEN,LngPeriod,shift)]+High[iHighest(NULL,0,MODE_HIGH,LngPeriod,shift)])/2;
SsMinl = (Open[iLowest(NULL,0,MODE_OPEN,LngPeriod,shift)]+Low[iLowest(NULL,0,MODE_LOW,LngPeriod,shift)])/2;
SsMaxm = (Open[iHighest(NULL,0,MODE_OPEN,MedPeriod,shift)]+High[iHighest(NULL,0,MODE_HIGH,MedPeriod,shift)])/2;
SsMinm = (Open[iLowest(NULL,0,MODE_OPEN,MedPeriod,shift)]+Low[iLowest(NULL,0,MODE_LOW,MedPeriod,shift)])/2;
SsMaxs = (Open[iHighest(NULL,0,MODE_OPEN,ShtPeriod,shift)]+High[iHighest(NULL,0,MODE_HIGH,ShtPeriod,shift)])/2;
SsMins = (Open[iLowest(NULL,0,MODE_OPEN,ShtPeriod,shift)]+Low[iLowest(NULL,0,MODE_LOW,ShtPeriod,shift)])/2;
}
else
{
SsMaxl = Open[iHighest(NULL,0,MODE_OPEN,LngPeriod,shift)];
SsMinl = Open[iLowest(NULL,0,MODE_OPEN,LngPeriod,shift)];
SsMaxm = Open[iHighest(NULL,0,MODE_OPEN,MedPeriod,shift)];
SsMinm = Open[iLowest(NULL,0,MODE_OPEN,MedPeriod,shift)];
SsMaxs = Open[iHighest(NULL,0,MODE_OPEN,ShtPeriod,shift)];
SsMins = Open[iLowest(NULL,0,MODE_OPEN,ShtPeriod,shift)];
}
smaxl = SsMaxl-(SsMaxl-SsMinl)*Margins/100;
sminl = SsMinl+(SsMaxl-SsMinl)*Margins/100;
smaxm = SsMaxm-(SsMaxm-SsMinm)*Margins/100;
sminm = SsMinm+(SsMaxm-SsMinm)*Margins/100;
smaxs = SsMaxs-(SsMaxs-SsMins)*Margins/100;
smins = SsMins+(SsMaxs-SsMins)*Margins/100;
Channel1[shift-Advance]=smaxl;
Channel2[shift-Advance]=sminl;
Channel3[shift-Advance]=smaxm;
Channel4[shift-Advance]=sminm;
Channel5[shift-Advance]=smaxs;
Channel6[shift-Advance]=smins;
} //end for loop
//----
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 open prices of each bar
Indicator Curves created:
Implements a curve of type DRAW_LINE
Indicators Used:
Custom Indicators Used:
Order Management characteristics:
Other Features: