BT2Sig_v1
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This tool is designed to function as a visual signaling system on your trading charts, specifically aimed at identifying potential trend shifts and entry points. It works by analyzing historical price data to pinpoint specific moments where the market momentum changes direction.
How the Logic Works
The core logic of this script relies on comparing current market conditions against previous price movements to detect "breaks" or "crosses." Instead of just looking at a single price point, it evaluates the behavior of two distinct data streams simultaneously.
1. Data Analysis & Filtering The script scans through a specific window of historical bars (which can be adjusted by the user) to gather information. It looks for specific triggers where one trend line moves in a way that differs significantly from the preceding movement.
2. Signal Detection It identifies two types of signals, represented on your chart as visual arrows:
- Signal A: Occurs when a primary data value shows a new movement while its previous state remained stable.
- Signal B: Occurs when a secondary data value mirrors this behavior.
By checking these conditions across different data layers, the script filters out "noise" (minor price fluctuations) and highlights only those moments where a significant change in trend is likely occurring.
3. Visual Output Once the logic confirms that a trend shift has met the required criteria:
- It places a Blue arrow on the chart to indicate one type of directional move.
- It places a Red arrow to indicate the opposite directional move.
Summary for the User
Essentially, this script acts as a "trend scout." It monitors the market's momentum in the background and draws clear visual markers on your screen whenever it detects that the market has transitioned from one direction to another. This allows you to see potential trading opportunities at a glance without having to manually interpret complex price fluctuations.
/*-----------------------------+
| |
| Shared by www.Aptrafx.com |
| |
+------------------------------*/
//+-----------------------------------------------------------------------+
//| BrainTrend2Sig.mq4 |
//| Copyright © 2005. Alejandro Galindo |
//| http://elCactus.com |
//| ASCTrend1 modified to generate similar signals to BrainTrend1 |
//| Author := C0Rpus - big thanks CHANGE2002, STEPAN and SERSH |
//| Notes := ASCTrend1 3.0 Open Source |
//+-----------------------------------------------------------------------+
#property indicator_chart_window
#property indicator_buffers 2
#property indicator_color1 Blue
#property indicator_color2 Red
//---- input parameters
extern int RISK=3;
extern int CountBars=500;
//---- buffers
double Buffer1[];
double Buffer2[];
//+------------------------------------------------------------------+
//| Custom indicator initialization function |
//+------------------------------------------------------------------+
int init()
{
//---- indicator line
IndicatorBuffers(2);
SetIndexStyle(0,DRAW_ARROW,0,1);
SetIndexStyle(1,DRAW_ARROW,0,1);
SetIndexBuffer(0,Buffer1);
SetIndexBuffer(1,Buffer2);
SetIndexArrow(0,108);
SetIndexArrow(1,108);
//----
return(0);
}
//+------------------------------------------------------------------+
//| ASCTrend1 |
//+------------------------------------------------------------------+
int start()
{
int i,shift,counted_bars=IndicatorCounted();
//int Counter,i1,value10,value11;
//double value1,x1,x2;
//double value2,value3;
//double TrueCount,Range,AvgRange,MRO1,MRO2;
double BT1=0, BT2=0, BT3=0, BT4=0;
if (CountBars>=Bars) CountBars=Bars;
SetIndexDrawBegin(0,Bars-CountBars+11+1);
SetIndexDrawBegin(1,Bars-CountBars+11+1);
//---- initial zero
//----
shift=CountBars-11-1;
while(shift>=0)
{
Buffer1[shift]=0;
Buffer2[shift]=0;
BT1=iCustom(NULL,0,"BrainTrend2Stop",10,0,shift);
BT2=iCustom(NULL,0,"BrainTrend2Stop",10,0,shift+1);
BT3=iCustom(NULL,0,"BrainTrend2Stop",10,1,shift);
BT4=iCustom(NULL,0,"BrainTrend2Stop",10,1,shift+1);
if (BT1 && !BT2) { Buffer2[shift]=BT1; }
if (BT3 && !BT4) { Buffer1[shift]=BT3; }
shift--;
}
return(0);
}
//+------------------------------------------------------------------+
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