_2523MTF MACD X

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Author: Copyright � 2006, Eli Hayun
_2523MTF MACD X

This script is a multi-timeframe technical analysis tool designed to visualize momentum trends across four different time horizons simultaneously. Instead of looking at just one chart timeframe, it pulls data from the 15-minute, 30-minute, 1-hour, and 4-hour intervals to provide a comprehensive overview of market direction.

Core Functionality

The primary logic revolves around the MACD (Moving Average Convergence Divergence) indicator. The script calculates the MACD for each of the four timeframes using specific "Fast" and "Slow" moving average settings provided by the user.

Rather than displaying standard lines or histograms, this tool translates the raw MACD data into visual signals:

  • Positive Momentum: When the MACD value is above zero on a specific timeframe, it signifies upward momentum.
  • Negative Momentum: When the MACD value falls below zero, it signifies downward momentum.

How it Displays Data

The tool populates your chart with distinct visual markers (arrows) to represent these movements:

  • Upward Signals: It identifies bullish sentiment across the different timeframes.
  • Downward Signals: It identifies bearish sentiment across the different timeframes.

By aggregating this information into a single window, the script allows a trader to see at a glance whether the shorter-term trends (like the 15-minute chart) are in alignment with the larger, more significant trends (like the 4-hour chart).

Key Technical Behavior

  • Time Synchronization: The script includes internal logic to ensure that it correctly maps the historical data from the higher timeframes onto your current viewing chart. It synchronizes the "time" of each candle so that the signals displayed on your screen correspond accurately to what is happening on those larger intervals.
  • Dynamic Buffer System: It uses eight separate data buffers. This allows the script to track and draw independent signals for every single timeframe without the data overlapping or becoming confused, ensuring that a signal from the 1-hour chart remains distinct from a signal on the 30-minute chart.

In summary, this is a "confluence" tool. It removes the need for a trader to switch back and forth between multiple windows, providing a unified visual summary of whether the market is leaning bullish or bearish across all major timeframes simultaneously.

Indicators Used
MACD Histogram
Miscellaneous
Implements a curve of type %1
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_2523MTF MACD X 
/*-----------------------------+
|			       |
| Shared by www.Aptrafx.com    |
|			       |
+------------------------------*/

//+------------------------------------------------------------------+
//|                                                  #MTF MACD X.mq4 |
//|                                      Copyright © 2006, Eli Hayun |
//|                                          http://www.elihayun.com |
//+------------------------------------------------------------------+
#property copyright "Copyright © 2006, Eli Hayun"
#property link      "http://www.elihayun.com"

#property indicator_separate_window
#property indicator_minimum -1
#property indicator_maximum 6
#property indicator_buffers 8
#property indicator_color1 Blue
#property indicator_color2 Blue
#property indicator_color3 Blue
#property indicator_color4 Blue
#property indicator_color5 Red
#property indicator_color6 Red
#property indicator_color7 Red
#property indicator_color8 Red
//---- input parameters
extern int       FastEMA=5;
extern int       SlowEMA=45;
//---- buffers
double UpBuffer_M15[];
double UpBuffer_M30[];
double UpBuffer_H1[];
double UpBuffer_H4[];
double DownBuffer_M15[];
double DownBuffer_M30[];
double DownBuffer_H1[];
double DownBuffer_H4[];


datetime dt15[200], dt30[200], dth1[200], dth4[200];   

//+------------------------------------------------------------------+
//| Custom indicator initialization function                         |
//+------------------------------------------------------------------+
int init()
  {
//---- indicators
   SetIndexStyle(0,DRAW_ARROW);
   SetIndexArrow(0,254);
   SetIndexBuffer(0,UpBuffer_M15);
   SetIndexEmptyValue(0,-40.0);
   SetIndexStyle(1,DRAW_ARROW);
   SetIndexArrow(1,254);
   SetIndexBuffer(1,UpBuffer_M30);
   SetIndexEmptyValue(1,-40.0);
   SetIndexStyle(2,DRAW_ARROW);
   SetIndexArrow(2,254);
   SetIndexBuffer(2,UpBuffer_H1);
   SetIndexEmptyValue(2,-40.0);
   SetIndexStyle(3,DRAW_ARROW);
   SetIndexArrow(3,254);
   SetIndexBuffer(3,UpBuffer_H4);
   SetIndexEmptyValue(3,-40.0);
   SetIndexStyle(4,DRAW_ARROW);
   SetIndexArrow(4,253);
   SetIndexBuffer(4,DownBuffer_M15);
   SetIndexEmptyValue(4,-40.0);
   SetIndexStyle(5,DRAW_ARROW);
   SetIndexArrow(5,253);
   SetIndexBuffer(5,DownBuffer_M30);
   SetIndexEmptyValue(5,-40.0);
   SetIndexStyle(6,DRAW_ARROW);
   SetIndexArrow(6,253);
   SetIndexBuffer(6,DownBuffer_H1);
   SetIndexEmptyValue(6,-40.0);
   SetIndexStyle(7,DRAW_ARROW);
   SetIndexArrow(7,253);
   SetIndexBuffer(7,DownBuffer_H4);
   SetIndexEmptyValue(7,-40.0);
   
   IndicatorShortName("#MACDx("+FastEMA+","+SlowEMA+")");
//----
   return(0);
  }
//+------------------------------------------------------------------+
//| Custom indicator deinitialization function                       |
//+------------------------------------------------------------------+
int deinit()
  {
//----
   
//----
   return(0);
  }
//+------------------------------------------------------------------+
//| Custom indicator iteration function                              |
//+------------------------------------------------------------------+
int start()
  {
   int    counted_bars=IndicatorCounted();
   int limit, shift;
   if(counted_bars<0) return(-1);
   if (counted_bars==0) limit=Bars-1;  // limit = Bars-MinBars-1;
//---- last counted bar will be recounted
   if(counted_bars>0) limit=Bars-counted_bars;
   limit--;

   int i15 = 0, i30 = 0, ih1 = 0, ih4 = 0;

   static bool fft = true;
   
   //if (NewBar()) // Update array every 15 minutes
   {
      ArrayCopySeries(dt15,MODE_TIME,Symbol(),PERIOD_M15); 
      ArrayCopySeries(dt30,MODE_TIME,Symbol(),PERIOD_M30); 
      ArrayCopySeries(dth1,MODE_TIME,Symbol(),PERIOD_H1); 
      ArrayCopySeries(dth4,MODE_TIME,Symbol(),PERIOD_H4); 
   }   
   
   if ((fft) && (Symbol() == "EURUSD"))
   {
      fft = false;
      datetime d = iTime(NULL, PERIOD_D1, 0);
      for (int j=0; j<80; j++)
      {
         Print(j,") ",dt15[j]-d," ",dt30[j]-d, " ", dth1[j]-d," ", dth4[j]-d);
      }
   }
   for(int i=0; i<limit; i++)
   {   
      datetime ddt = iTime(NULL, 0, i);
      if (ddt<dt15[i15]) i15++;
      if (ddt<dt30[i30]) i30++;
      if (ddt<dth1[ih1]) ih1++;
      if (ddt<dth4[ih4])  ih4++;
      
      double macd_m15 = iMACD(NULL,PERIOD_M15, FastEMA,SlowEMA,1,PRICE_CLOSE, MODE_MAIN,i15);
      double macd_m30 = iMACD(NULL,PERIOD_M30, FastEMA,SlowEMA,1,PRICE_CLOSE, MODE_MAIN,i30);
      double macd_h1 = iMACD(NULL,PERIOD_H1, FastEMA,SlowEMA,1,PRICE_CLOSE, MODE_MAIN,ih1);
      double macd_h4 = iMACD(NULL,PERIOD_H4, FastEMA,SlowEMA,1,PRICE_CLOSE, MODE_MAIN,ih4);
      
      UpBuffer_M15[i] = -40;    DownBuffer_M15[i] = -40; 
      UpBuffer_M30[i] = -40;    DownBuffer_M30[i] = -40; 
      UpBuffer_H1[i]  = -40;    DownBuffer_H1[i]  = -40; 
      UpBuffer_H4[i]  = -40;    DownBuffer_H4[i]  = -40; 

      if (macd_m15 > 0) UpBuffer_M15[i] = 1; if (macd_m15 < 0) DownBuffer_M15[i] = 1;
      if (macd_m30 > 0) UpBuffer_M30[i] = 2; if (macd_m30 < 0) DownBuffer_M30[i] = 2;
      if (macd_h1 > 0) UpBuffer_H1[i]   = 3; if (macd_h1  < 0) DownBuffer_H1[i]  = 3;
      if (macd_h4 > 0) UpBuffer_H4[i]   = 4; if (macd_h4  < 0) DownBuffer_H4[i]  = 4;
   }

   return(0);
  }
//+------------------------------------------------------------------+

/*
bool NewBar()
{
   static datetime dt = 0;
   if (dt != iTime(NULL, PERIOD_M15, 0))
   {
      dt = iTime(NULL, PERIOD_M15, 0);
   }
   return(false);
}
*/

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