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This technical script, known as the Mikahekin, is a specialized trading indicator designed to provide visual clarity on price action by smoothing out market "noise" and identifying key price levels. It functions by analyzing historical data over specific periods to establish a clearer picture of where the market has been and where it might be heading.
Core Logic and Functionality
The script operates through three distinct layers of calculation to interpret market data:
1. Identifying Extreme Price Boundaries Before calculating the main visual output, the tool first scans the market to find the "Highs" and "Lows." It looks backward over a set number of candles (defined by specific periods) to pinpoint the absolute highest and lowest prices reached during that timeframe. These data points serve as the foundation for understanding the current volatility and range of the market.
2. Multi-Variable Averaging The indicator then takes four critical components of every price candle—the Open, High, Low, and Close—and subjects them to a moving average calculation. By totaling these values over a designated period, the script generates four separate smoothed data streams. This allows the tool to move beyond "instantaneous" price jumps, providing instead a fluid representation of the market's trajectory.
3. Visual Representation on the Chart The final result is displayed to the user through a combination of histograms and directional arrows:
- Histograms: These provide a visual "flow" of the smoothed price data, making it easier for a trader to see the underlying momentum compared to the erratic movements of raw price candles.
- Dynamic Markers: The logic also incorporates signals (indicated by arrows) based on the high and low boundaries calculated in the first step. These markers help highlight specific points of interest where the price interacts with its historical extremes.
Summary for the User
In simple terms, this script acts as a "filter." It looks at the messy, constant movement of the market and simplifies it into four smooth trend lines and clear visual cues. By identifying the highest and lowest boundaries and averaging the price action within them, it helps traders distinguish between temporary price spikes and actual sustained trends.
/*-----------------------------+
| |
| Shared by www.Aptrafx.com |
| |
+------------------------------*/
//+------------------------------------------------------------------+
//| mikahekin.mq4 |
//| Copyright ?2004, MetaQuotes Software Corp. |
//| http://www.sasara |
//| Modified by: Ronald Verwer/ROVERCOM |
//| version 1.0.4 |
//+------------------------------------------------------------------+
#property copyright "Copyright ?2004, MetaQuotes Software Corp."
#property link "http://www.metaquotes.net"
#property indicator_chart_window
#property indicator_buffers 4
#property indicator_color1 Silver
#property indicator_color2 Yellow
#property indicator_color3 Red
#property indicator_color4 Blue
//---- input parameters
extern int KPeriod=3;
extern int DPeriod=3;
extern int JPeriod=7;
double ind_buffer1[];
double ind_buffer2[];
double ind_buffer3[];
double ind_buffer4[];
double LowesBuffer[];
double HighesBuffer[];
//+------------------------------------------------------------------+
//| expert initialization function |
//+------------------------------------------------------------------+
int init()
{
string short_name;
IndicatorBuffers(6);
SetIndexStyle(0,DRAW_HISTOGRAM, 0, 3);
SetIndexStyle(1,DRAW_HISTOGRAM, 0, 3);
SetIndexStyle(2,DRAW_ARROW, 0, 1);
SetIndexStyle(3,DRAW_ARROW, 0, 1);
//----
SetIndexDrawBegin(0,10);
SetIndexDrawBegin(1,10);
SetIndexDrawBegin(2,10);
SetIndexDrawBegin(3,10);
//---- indicator buffers mapping
SetIndexBuffer(0,ind_buffer1);
SetIndexBuffer(1,ind_buffer2);
SetIndexBuffer(2,ind_buffer3);
SetIndexBuffer(3,ind_buffer4);
SetIndexBuffer(4,HighesBuffer);
SetIndexBuffer(5,LowesBuffer);
//---- name for DataWindow and indicator subwindow label
IndicatorShortName("mikahekin");
SetIndexLabel(0,"Open");
SetIndexLabel(1,"Close");
SetIndexLabel(2,"High");
SetIndexLabel(3,"Low");
//----
return(0);
}
//+------------------------------------------------------------------+
//| expert deinitialization function |
//+------------------------------------------------------------------+
int start()
{
int i,k,j;
int counted_bars=IndicatorCounted();
double price;
//----
if(Bars<=10) return(0);
//---- initial zero
if(counted_bars<0)
return (-1);
//---- minimums counting
i=Bars-KPeriod;
if(counted_bars>KPeriod) i=Bars-counted_bars-1;
while(i>=0)
{
double min=1000000;
k=i+KPeriod-1;
while(k>=i)
{
price=Low[k];
if(min>price) min=price;
k--;
}
LowesBuffer[i]=min;
i--;
}
//---- maximums counting
i=Bars-DPeriod;
if(counted_bars>DPeriod) i=Bars-counted_bars-1;
while(i>=0)
{
double max=-100000;
j=i+DPeriod-1;
while(j>=i)
{
price=High[j];
if(price>max) max=price;
j--;
}
HighesBuffer[i]=max;
i--;
}
//---- mikahekin calcaulation
i=Bars-JPeriod;
if(counted_bars>JPeriod) i=Bars-counted_bars-1;
while(i>=0)
{
double sumlow=0.0;
double sumhigh=0.0;
double sumopen=0.0;
double sumclose=0.0;
double close=0.0;
double open=0.0;
double high=0.0;
double low=0.0;
ind_buffer1[i]=open;
ind_buffer2[i]=close;
ind_buffer3[i]=high;
ind_buffer4[i]=low;
for(k=(i+JPeriod-1);k>=i;k--)
{
sumclose+=Close[k];
close=sumclose/JPeriod;
sumlow+= LowesBuffer[k];
low= sumlow/JPeriod;
sumhigh+=HighesBuffer[k];
high=sumhigh/JPeriod;
sumopen+=Open[k];
open=sumopen/JPeriod;
}
ind_buffer3[i]=high;
ind_buffer4[i]=low;
ind_buffer1[i]=open;//open;
ind_buffer2[i]=close;//open;
i--;
}
//----
return(0);
}
//+------------------------------------------------------------------+
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