BtTrendTrigger-T
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The BtTrendTrigger-T is a technical analysis tool designed to interpret market momentum by identifying the relationship between recent price extremes and historical price movements. Rather than simply looking at the current price, this script analyzes "Power" dynamics to determine whether buying pressure or selling pressure is currently dominating the trend.
Core Logic and Mechanism
1. Power Dynamics Calculation The script functions by comparing two distinct timeframes of market data simultaneously:
- Recent Movement: It identifies the highest highs and lowest lows over a short, immediate period (defined by the
TTFbarssetting). - Older Movement: It identifies the highest highs and lowest lows from a preceding historical period.
By calculating the difference between these two eras, the tool establishes Buy Power and Sell Power. Essentially, it measures how much "ground" the price has gained or lost relative to where it was previously.
2. Trend Force Index (TTF) Once Buy and Sell Power are established, the script calculates a percentage-based trend value. This value represents the net balance of momentum. A positive result indicates that buying pressure is leading, while a negative result suggests that selling pressure is in control.
3. Smoothing and Signal Refinement To prevent the visual data from being too erratic or "noisy," the script employs a multi-stage smoothing process:
- Weighting: It applies a weighted moving average logic to the raw trend data, ensuring that the most recent information carries significant weight while still accounting for preceding trends.
- Polynomial Filtering: The tool uses a series of mathematical coefficients (polynomial calculations) to refine the smoothed data. This helps in filtering out minor market fluctuations to reveal the clearer, underlying direction of the price movement.
4. Visual Output The final output is displayed in a separate window below your main trading chart:
- Primary Trend Line: The first visual buffer displays the refined trend value, showing the magnitude and direction of market momentum.
- Dual Value Trigger: The second visual buffer acts as a threshold indicator. It switches between two specific levels (+50 and -50) based on whether the trend is currently positive or negative, providing a clear binary signal of the current market bias.
Summary for the User
In practical terms, this script looks at how the current price action compares to the past. If the recent high/low range is significantly higher than the previous period's range, it registers as bullish momentum. If it is lower, it registers as bearish. The tool then smooths this information out into a clean line and a trigger signal, helping you visualize whether the market is trending upward or downward with conviction.
//+------------------------------------------------------------------+
//| BtTrendTrigger-T.mq4 |
//| |
//| |
//+------------------------------------------------------------------+
#property copyright ""
#property link ""
#property indicator_separate_window
#property indicator_buffers 2
#property indicator_color1 Gold
#property indicator_color2 Red
//---- input parameters
extern int TTFbars=15; //15=default number of bars for computation.
extern int t3_period=5;
extern double b=0.7;
extern int ppor=50,mpor=-50;
extern int barBegin=1000; //<1000 recommended for faster speed, 0=All bars computed & plotted.
// Variable Specific:
string IndicatorName="py.TTF";
string Version="S01";
double HighestHighRecent;
double HighestHighOlder;
double LowestLowRecent;
double LowestLowOlder;
double BuyPower;
double SellPower;
double TTF;
double t3;
double e1;
double e2;
double e3;
double e4;
double e5;
double e6;
double c1;
double c2;
double c3;
double c4;
double r;
double w1;
double w2;
double b2;
double b3;
// Variable Generic, mostly for module flow control:
int shift;
int count;
bool is_First=True;
int loopBegin;
int prevBars;
int PrevTime;
int tick;
int prevShift=99999;
int badPlotBars; //Discarded first (old) bars with bad computed values
int firstPlotBar;
double CheckSum;
double CheckSumPrev;
string Msg;
//---- buffers
double ExtMapBuffer1[];
double ExtMapBuffer2[];
//+------------------------------------------------------------------+
//| Custom indicator initialization function |
//+------------------------------------------------------------------+
int init()
{
//---- indicators
SetIndexStyle(0,DRAW_LINE);
SetIndexBuffer(0,ExtMapBuffer1);
SetIndexStyle(1,DRAW_LINE);
SetIndexBuffer(1,ExtMapBuffer2);
//----
return(0);
}
//+------------------------------------------------------------------+
//| Custor indicator deinitialization function |
//+------------------------------------------------------------------+
int deinit()
{
//----
//----
return(0);
}
//+------------------------------------------------------------------+
//| Custom indicator iteration function |
//+------------------------------------------------------------------+
int start(){
b2 = b * b;
b3 = b2 * b;
c1 = (-b3);
c2 = (3 * (b2 + b3));
c3 = (-3) * (2 * b2 + b + b3);
c4 = (1 + 3 * b + b3 + 3 * b2);
r = t3_period;
if(r < 1) r = 1;
r = 1 + 0.5 * (r - 1);
w1 = 2 / (r + 1);
w2 = 1 - w1;
/*======================*/
/* Begin Pre-Loop Setup */
/*======================*/
//Check for additional bars loading or total reloadng.
if(Bars < prevBars || Bars - prevBars > 1)is_First = True;
prevBars = Bars;
//Have any Inputs changed?
CheckSum = TTF + barBegin;
if(CheckSum != CheckSumPrev)is_First = True;
CheckSumPrev = CheckSum;
//--------------------------------------------------------------------
if(is_First){
/*This block executes ONLY First Time for each Attachment-To-Chart. If MT is closed or another Profile is selected,
the values & parameters for this module are saved, and when MT or this Profile is restarted, it would not be the First
Time Attachment-To-Chart. So this block would not execute unless the value of "Bars" has changed. */
/*==============*/
/* Check Inputs */
/*==============*/
if(0 > TTFbars || TTFbars > 299){
Msg = IndicatorName + " **Input Error** :" + " TTFbars must be between 0 and 300. Cannot=" + TTFbars;
Alert(Msg);
return(0);
}
//BarIndexNumber=shift=Bars-1..0
if(barBegin > 0 && barBegin < Bars - 1)loopBegin = barBegin; else loopBegin = Bars - 1;
/*===================================*/
/* Specific for particular indicator */
/*===================================*/
loopBegin = loopBegin - TTFbars; //Cannot compute early bars
/* end Specific */
is_First = False;
}
/*======================*/
/* end Pre-Loop Setup */
/*======================*/
loopBegin = loopBegin + 1; //Replot previous bar
for(shift = loopBegin;shift>=0;shift--){
/*=================================*/
/* Standard Specific Computations */
/*=================================*/
HighestHighRecent = High[Highest(NULL,0,MODE_HIGH,TTFbars,shift)];
HighestHighOlder = High[Highest(NULL,0,MODE_HIGH,TTFbars,shift + TTFbars)];
LowestLowRecent = Low [Lowest(NULL,0,MODE_LOW,TTFbars,shift)];
LowestLowOlder = Low [Lowest(NULL,0,MODE_LOW,TTFbars,shift+TTFbars)];
BuyPower = HighestHighRecent - LowestLowOlder;
SellPower = HighestHighOlder - LowestLowRecent;
TTF = (BuyPower - SellPower) / (0.5 * (BuyPower + SellPower)) * 100;
e1 = w1 * TTF + w2 * e1;
e2 = w1 * e1 + w2 * e2;
e3 = w1 * e2 + w2 * e3;
e4 = w1 * e3 + w2 * e4;
e5 = w1 * e4 + w2 * e5;
e6 = w1 * e5 + w2 * e6;
TTF = c1 * e6 + c2 * e5 + c3 * e4 + c4 * e3;
ExtMapBuffer1[shift]=TTF;
//Dual value trigger +/-100
if(TTF >= 0)ExtMapBuffer2[shift]=ppor; else ExtMapBuffer2[shift]=mpor;
loopBegin = loopBegin - 1;
}
return(0);
}
//+------------------------------------------------------------------+
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