Barishpolets Channels v1.0.P
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Logic Overview: Barishpolets Channels
The Barishpolets Channels script is designed to automatically identify and project trend channels on a trading chart. Instead of drawing static lines, this tool analyzes historical price action to determine the prevailing direction of the market and establishes a dynamic corridor that represents the boundaries of that movement.
Core Mechanics
The logic operates through a multi-step process to ensure the channel is anchored to significant price movements rather than random fluctuations:
1. Fractal Identification (Anchor Points) The script begins by scanning historical price data to find "fractals"—which are essentially significant high and low points in the market (peaks and valleys). It determines how far back to look based on your specific timeframe (e.g., it looks further back on daily charts than on 1-minute charts) to ensure the data is statistically relevant.
2. Trend Detection Once it finds two consecutive significant points, it calculates the "Step" (the rate of change). This allows the script to distinguish between an upward and a downward trend:
- If the first significant peak/valley is lower than the second, it identifies an ascending movement.
- If the first is higher than the second, it identifies a descending movement.
3. Channel Projection After establishing the primary trend line (the "Main Path"), the script performs a secondary calculation to find the opposite boundary:
- Parallel Symmetry: It calculates a mirrored trend line based on the distance between the primary highs and lows.
- Dynamic Adjustment: The logic scans the price history between the two anchor points. If it finds any price action that protrudes significantly outside the expected parallel path, it adjusts the boundary to encompass those extremes. This ensures the channel reflects the actual "width" of the market's volatility.
4. Visual Output The script then draws three distinct visual elements on your chart:
- Upper Boundary: The ceiling of the price action.
- Lower Boundary: The floor of the price action.
- Median Line: A middle line representing the equilibrium point between the two boundaries.
Summary for the Trader
Essentially, this tool takes the "messy" history of price candles and extracts a clean geometric corridor. By identifying the primary trend and its corresponding volatility width, it provides a visual framework to help you see whether the current market is staying within established bounds or if it is breaking out into new territory.
/*-----------------------------+
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| Shared by www.Aptrafx.com |
| |
+------------------------------*/
//+------------------------------------------------------------------+
//| Barishpolets Channels.mq4 |
//| |
//| Conversion from MT3 by Mike & ... |
//+------------------------------------------------------------------+
#property copyright ""
#property link ""
#property indicator_chart_window
#property indicator_buffers 1
#property indicator_color1 Red
//---- Inputs
extern int CalcBars=240; //number of bars counted. 0-all bars counted
extern int BarsForFract=0; //bars of fractal's "shoulder"
//---- Variables
int B1=-1,B2=-1,UpDown=0,CurrentBar=0,limit,k,i,i2,NumBars;
int BFF=0,ishift=0,LowBar,HighBar,BMax,BMin,start;
double P1=0,P2=0,PP=0,Step=0,iprice=0,PMax,PMin,price;
//---- Buffers
double Buffer1[];
//+------------------------------------------------------------------+
int init()
{
//---- indicators
IndicatorBuffers(1);
SetIndexBuffer(0,Buffer1);
SetIndexStyle(0,DRAW_ARROW,EMPTY);
SetIndexArrow(0,164);
//---- selections
if (BarsForFract>0) {BFF=BarsForFract;}
else
{
switch (Period())
{
case 1: BFF=12; break;
case 5: BFF=48; break;
case 15: BFF=24; break;
case 30: BFF=24; break;
case 60: BFF=24; break;
case 240: BFF=24; break;
case 1440: BFF=12; break;
case 10080: BFF=12; break;
default: return(-1);
}
}
//+----
return(0);
}
//+------------------------------------------------------------------+
int deinit()
{
for(k=0; k<limit; k++)
{
Buffer1[k]=0.0;
}
ObjectDelete("TL1");
ObjectDelete("TL2");
ObjectDelete("MIDL");
//----
return(0);
}
//+------------------------------------------------------------------+
int start()
{
//---- check inputs
if (Bars<=CalcBars || CalcBars<1)
{
Print("ERROR: Bars("+Bars+")<=CalcBars("+CalcBars+") or CalcBars("+CalcBars+")<1");
return(-1);
}
//----
int counted_bars=IndicatorCounted();
if(counted_bars<0) {Print("Error at counted_bars..."); return (-1);}
//---- Calc. area
if (CalcBars==0 || CalcBars>Bars) NumBars=Bars; else NumBars=CalcBars;
limit=NumBars-1;
//----
if(counted_bars<1)
{
for(k=limit; k>=0; k--)
{
Buffer1[k]=0.0;
}
}
if(counted_bars>0) counted_bars--;
//----
CurrentBar=2; //start counting from the third bar as the fractal is "pinned down"
B1=-1; B2=-1; UpDown=0;
while ((B1==-1 || B2==-1) && CurrentBar<NumBars)
{
//UpDown=1 means the 1st fractal has been found on top,
//UpDown=-1 means the 1st fractal has been found at the bottom,
//UpDown=0 means a fractal has not yet been found
//Â1 è Â2 - base line fractal bars
//Ð1 è Ð2 - prices for this line
//
// Low section
//
if (UpDown<1 && CurrentBar==Lowest(NULL,0,MODE_LOW,BFF*2+1,CurrentBar))
{
if (UpDown==0) { UpDown=-1; B1=CurrentBar; P1=Low[B1];}
else { B2=CurrentBar; P2=Low[B2];}
}
//
// High section
//
if (UpDown>-1 && CurrentBar==Highest(NULL,0,MODE_HIGH,BFF*2+1,CurrentBar))
{
if (UpDown==0) { UpDown=1; B1=CurrentBar; P1=High[B1];}
else { B2=CurrentBar; P2=High[B2];}
}
CurrentBar++;
} // end while
//----
if (B1==-1 || B2==-1) return(-1); // No fractals have been found in 300 bar range 8-)
Step=(P2-P1)/(B2-B1); //step calculated, if positive then the channel is descending
P1=P1-B1*Step; B1=0; //price and the 1st bar are being restored to zero
//
//Reference point for opposite trendline
//
ishift=0; iprice=0;
if (UpDown==1)
{
PP=Low[2]-2*Step;
for (i=3; i<=B2; i++)
{
if (Low[i]<PP+Step*i) {PP=Low[i]-i*Step;}
if (Low[0]<PP) {ishift=0; iprice=PP;}
if (Low[1]<PP+Step) {ishift=1; iprice=PP+Step;}
if (High[0]>P1) {ishift=0; iprice=P1;}
if (High[1]>P1+Step) {ishift=1; iprice=P1+Step;}
}
}
else
{
PP=High[2]-2*Step;
for (i=3; i<=B2; i++)
{
if (High[i]>PP+Step*i) {PP=High[i]-i*Step;}
if (Low[0]<P1) {ishift=0; iprice=P1;}
if (Low[1]<P1+Step) {ishift=1; iprice=P1+Step;}
if (High[0]>PP) {ishift=0; iprice=PP;}
if (High[1]>PP+Step) {ishift=1; iprice=PP+Step;}
}
}
//----
//Last price and bar to be set on ÀÂ to draw the line to the upmost right
P2=P1+NumBars*Step;
B1=Time[B1]; B2=Time[NumBars];
// 0 (zero) means the channel line remains intact, dot means the channel is broken
Buffer1[ishift]=iprice;
//----
ObjectCreate("TL1",OBJ_TREND,0,B2,PP+Step*NumBars,B1,PP);
ObjectCreate("TL2",OBJ_TREND,0,B2,P2,B1,P1);
ObjectCreate("MIDL",OBJ_TREND,0,B2,(P2+PP+Step*NumBars)/2,B1,(P1+PP)/2);
//----
return(0);
}
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