CCI-alert_mtf

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Author: Copyright � 2006, Forex-TSD.com
CCI-alert_mtf

This script functions as a multi-timeframe technical analysis tool designed to filter and visualize price momentum using the Commodity Channel Index (CCI). Rather than simply showing you a raw data line, it categorizes market conditions into different trend types and provides real-time alerts for specific price movements.

Core Functionality

Multi-Timeframe Analysis The script is designed to look beyond the immediate chart you are viewing. It allows you to monitor the CCI values of various timeframes (ranging from 1-minute intervals up to monthly charts) simultaneously. This helps in identifying whether the broader market trend aligns with your current trading timeframe.

Trend Categorization Instead of just displaying a single line, the logic classifies the current market state into four distinct zones based on preset thresholds:

  • Strong Upward Trend: Identified when the momentum exceeds a high "Upper Trigger" level.
  • Mild Upward Trend: Identified when momentum is positive but remains below that high trigger.
  • Mild Downward Trend: Identified when momentum is negative but stays above a low "Lower Trigger" level.
  • Strong Downward Trend: Identified when momentum falls below the low "Lower Trigger" level.

Visual Indicators and Alerts

The script provides both visual cues and proactive notifications to help traders react to market changes:

Visual Feedback

  • Trend Lines/Histograms: Depending on your settings, it displays these trend zones as continuous lines or a histogram for easier visual scanning.
  • On-Chart Arrows: The script places specific arrows on the chart to highlight "crosses." These occur when the momentum moves from one zone to another (e.g., moving from neutral to a strong trend).

Automated Alerts The logic is programmed to trigger specific alerts for several key events:

  1. Zero Crosses: Notifies you when the momentum switches from negative to positive (potential buy signal) or vice versa (potential sell signal).
  2. Trigger Crosses: Alerts you specifically when the momentum breaks through your defined "Upper" or "Lower" thresholds, signaling a move into stronger trend territory.
  3. Critical Level Alerts: Monitors for extreme momentum spikes that exceed a "Critical Level." This is often used to identify overextended markets where a reversal might be imminent.

Summary of User Experience

For a non-programmer, this tool acts as a "trend filter." It simplifies complex momentum data by automatically labeling the market's current strength and notifying you immediately when that strength shifts significantly, regardless of which timeframe the move is happening on.

Price Data Components
Series array that contains open time of each bar
Indicators Used
Commodity channel index
Miscellaneous
Implements a curve of type %1It issuies visual alerts to the screen
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CCI-alert_mtf 
//+------------------------------------------------------------------+
//|                                                 CCIFilter vX.mq4 |
//|                                                                  |                                      
//| mtf 2008fxtsd  ki                                    mod by Raff |   
//+------------------------------------------------------------------+
#property copyright "Copyright © 2006, Forex-TSD.com "
#property link      "http://www.forex-tsd.com/"

#property indicator_separate_window
#property indicator_buffers 7
#property indicator_color1 SlateGray
#property indicator_color2 LimeGreen
#property indicator_color3 Teal
#property indicator_color4 IndianRed
#property indicator_color5 Red
#property indicator_color6 Magenta
#property indicator_color7 SpringGreen
#property indicator_width1 2
#property indicator_width2 2
#property indicator_width3 2
#property indicator_width4 2
#property indicator_width5 2
#property indicator_width6 0
#property indicator_width7 0
//#property  indicator_level1  0
#property indicator_level1  -100
#property indicator_level2   100
#property indicator_level3  -200
#property indicator_level4   200
#property indicator_levelcolor DarkSlateGray



//---- input parameters
extern int    CCIPeriod             = 50;
extern int    CCIPrice              = 0;
extern int    UpperTriggerLevel     =  100;
extern int    LowerTriggerLevel     = -100;
extern int    CriticalLevel         = 250;
extern int    TimeFrame = 0;
extern string TimeFrames = "M1;5,15,30,60H1;240H4;1440D1;10080W1;43200MN|0-CurrentTF";

extern bool   HISTOGRAM             = false;
extern bool   Alerts                = true;
extern string CriticalLevelAlert    = "CCI Critical Level";
extern string ZeroBuyAlert          = "BUY; CCI Zero Cross";
extern string ZeroSellAlert         = "SELL; CCI Zero Cross";
extern string UpperTriggerBuyAlert  = "BUY; CCI Upper Trigger Cross";
extern string UpperTriggerSellAlert = "SELL; CCI Upper Trigger Cross";
extern string LowerTriggerBuyAlert  = "BUY; CCI Lower Trigger Cross";
extern string LowerTriggerSellAlert = "SELL; CCI Lower Trigger Cross";
extern int    MaxBarsToCount           = 1500;
extern string note_Price = "Price(C0 O1 H2 L3 M4 T5 W6) ModeMa(SMA0,EMA1,SmmMA2,LWMA3)";

//---- indicator buffers
double CCI[];
double UpBuffer1[];
double UpBuffer2[];
double DnBuffer1[];
double DnBuffer2[];
double DnArr[];
double UpArr[];
//+------------------------------------------------------------------+
//| Custom indicator initialization function                         |
//+------------------------------------------------------------------+
  int init()
  {
   IndicatorBuffers(7);
   
   int DrawType = DRAW_LINE;
   if (HISTOGRAM) DrawType = DRAW_HISTOGRAM;

   SetIndexStyle(0,DRAW_LINE,STYLE_SOLID);
   SetIndexStyle(1,DrawType,STYLE_SOLID);
   SetIndexStyle(2,DrawType,STYLE_SOLID);
   SetIndexStyle(3,DrawType,STYLE_SOLID);
   SetIndexStyle(4,DrawType,STYLE_SOLID);
   SetIndexStyle(5,DRAW_ARROW);
   SetIndexArrow(5,159);
   SetIndexBuffer(5,DnArr);
   SetIndexStyle(6,DRAW_ARROW);
   SetIndexArrow(6,159);
   SetIndexBuffer(6,UpArr);

   SetIndexBuffer(0,CCI);
   SetIndexBuffer(1,UpBuffer1);
   SetIndexBuffer(2,UpBuffer2);
   SetIndexBuffer(3,DnBuffer1);
   SetIndexBuffer(4,DnBuffer2);
   SetIndexBuffer(5,DnArr);
   SetIndexBuffer(6,UpArr);
   
   IndicatorDigits(MarketInfo(Symbol(),MODE_DIGITS));
   
      switch(TimeFrame)
     {
      case 1 : string TimeFrameStr= "M1";  break;
      case 5 : TimeFrameStr=        "M5";  break;
      case 15 : TimeFrameStr=       "M15"; break;
      case 30 : TimeFrameStr=       "M30"; break;
      case 60 : TimeFrameStr=       "H1";  break;
      case 240 : TimeFrameStr=      "H4";  break;
      case 1440 : TimeFrameStr=     "D1";  break;
      case 10080 : TimeFrameStr=    "W1";  break;
      case 43200 : TimeFrameStr=    "MN1"; break;
      default : TimeFrameStr= "CurrTF";
     }

   string short_name;
   short_name="CCI Filter ("+CCIPeriod+") ["+TimeFrameStr+"]("+UpperTriggerLevel+", "+LowerTriggerLevel+", "+CriticalLevel+")";
   IndicatorShortName(short_name);

   SetIndexLabel(0,"CCI ("+CCIPeriod+")["+TimeFrameStr+"]");
   SetIndexLabel(1,"UpTrend");
   SetIndexLabel(2,"Mild UpTrend");
   SetIndexLabel(3,"Mild DownTrend");
   SetIndexLabel(4,"DownTrend");
   SetIndexLabel(5,"CCI ("+CCIPeriod+")["+TimeFrameStr+"]Dn");
   SetIndexLabel(6,"CCI ("+CCIPeriod+")["+TimeFrameStr+"]Up");
  
   SetIndexDrawBegin(0,CCIPeriod);
   SetIndexDrawBegin(1,CCIPeriod);
   SetIndexDrawBegin(2,CCIPeriod);
   SetIndexDrawBegin(3,CCIPeriod);  
   SetIndexDrawBegin(4,CCIPeriod);

   return(0);
  }

//+------------------------------------------------------------------+
//| CCIFilter                                                        |
//+------------------------------------------------------------------+
int start()
  {
   int shift,trend;
   datetime TimeArray[];
   ArrayCopySeries(TimeArray,MODE_TIME,Symbol(),TimeFrame); 

   
   double CCI0, CCI1;
   double UpDnZero, UpDnBuffer;
   
   if (UpperTriggerLevel<0) UpperTriggerLevel=0;
   if (LowerTriggerLevel>0) UpperTriggerLevel=0;

   int    limit,y=0,counted_bars=IndicatorCounted();
   limit= Bars-counted_bars;
   limit= MathMax(limit,TimeFrame/Period());
   limit= MathMin(limit,MaxBarsToCount);

   for(shift=0,y=0;shift<limit;shift++)
   {
   if (Time[shift]<TimeArray[y]) y++;


     DnArr[shift]=EMPTY_VALUE;
     UpArr[shift]=EMPTY_VALUE;
  	  CCI[shift]=EMPTY_VALUE;
	  CCI0=iCCI(NULL,TimeFrame,CCIPeriod,CCIPrice,y);
	  CCI1=iCCI(NULL,TimeFrame,CCIPeriod,CCIPrice,y+1);
  	  UpDnZero=0; UpDnBuffer=1;
     if (!HISTOGRAM) {UpDnZero=EMPTY_VALUE; UpDnBuffer=CCI0; CCI[shift]=CCI0;}
  	  UpBuffer1[shift]=UpDnZero;
  	  UpBuffer2[shift]=UpDnZero;
  	  DnBuffer1[shift]=UpDnZero;
  	  DnBuffer2[shift]=UpDnZero;

	  if (CCI0>UpperTriggerLevel)  UpBuffer1[shift]=UpDnBuffer;
	  if (CCI0>0 && CCI0<=UpperTriggerLevel) UpBuffer2[shift]=UpDnBuffer;
	  if (CCI0<0 && CCI0>=LowerTriggerLevel) DnBuffer1[shift]=UpDnBuffer;
	  if (CCI0<LowerTriggerLevel)  DnBuffer2[shift]=UpDnBuffer;

     if (CCI0>0 && CCI1<=0) {if(!HISTOGRAM) UpArr[shift]=0; if(shift==0) Alerts(ZeroBuyAlert);}
     if (CCI0<0 && CCI1>=0) {if(!HISTOGRAM) DnArr[shift]=0; if(shift==0) Alerts(ZeroSellAlert);}
     if (CCI0>UpperTriggerLevel && CCI1<=UpperTriggerLevel && UpperTriggerLevel>0) {if(!HISTOGRAM) UpArr[shift]=UpperTriggerLevel; if(shift==0) Alerts(UpperTriggerBuyAlert);}
     if (CCI0<UpperTriggerLevel && CCI1>=UpperTriggerLevel && UpperTriggerLevel>0) {if(!HISTOGRAM) DnArr[shift]=UpperTriggerLevel; if(shift==0) Alerts(UpperTriggerSellAlert);}
     if (CCI0>LowerTriggerLevel && CCI1<=LowerTriggerLevel && LowerTriggerLevel<0) {if(!HISTOGRAM) UpArr[shift]=LowerTriggerLevel; if(shift==0) Alerts(LowerTriggerBuyAlert);}
     if (CCI0<LowerTriggerLevel && CCI1>=LowerTriggerLevel && LowerTriggerLevel<0) {if(!HISTOGRAM) DnArr[shift]=LowerTriggerLevel; if(shift==0) Alerts(LowerTriggerSellAlert);}
     if (MathAbs(CCI0)>CriticalLevel && MathAbs(CCI1)<=CriticalLevel) {if(shift==0) Alerts(CriticalLevelAlert);}
     if (MathAbs(CCI0)<CriticalLevel && MathAbs(CCI1)>=CriticalLevel) {if(shift==0) Alerts(CriticalLevelAlert);}
	}

	return(0);	
 }

void Alerts(string AlertText)
  {
    static datetime timeprev;
    if(timeprev<iTime(NULL,0,0) && Alerts) 
    {timeprev=iTime(NULL,0,0); 
      Alert( "CCI ("+CCIPeriod+") TF["+TimeFrame+"]: ", AlertText," ",
      Symbol()," - chart M",Period(),"  at  ", Close[0],"  -  ", 
      TimeToStr(CurTime(),TIME_SECONDS));}
  }

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