Cog_Histo
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This tool is designed as a visual momentum and trend indicator that operates in a separate window beneath your main price chart. Its primary purpose is to provide a clear, color-coded representation of market direction by comparing two different data streams derived from the "Center of Gravity" calculation.
Core Logic and Functionality
The script functions by monitoring the relationship between two specific technical values (referred to as ma0 and ma1). These values represent weighted averages of price action over a user-defined period and historical bar count. By comparing these two lines in real-time, the tool determines the prevailing "sentiment" of the market:
- Bullish Momentum (Green): When the primary value (
ma0) rises above the secondary value (ma1), the indicator identifies an upward trend. The visual output highlights this as a green histogram, signaling to the trader that buying pressure is dominant. - Bearish Momentum (Red): When the primary value (
ma0) falls below the secondary value (ma1), the tool detects downward pressure. This is represented by a red histogram, indicating that selling pressure is currently leading the market. - Neutral State (White): In the specific instance where both values are perfectly equal, the indicator shifts to a neutral white state. This serves as a "balanced" signal, suggesting a lack of clear direction or a potential transition point between trends.
User Experience and Visuals
The indicator simplifies complex price data into three distinct visual layers. By using thick histogram bars (with a width of 4), it ensures that the trend is easy to see at a glance without cluttering the screen. Instead of showing you the raw, fluctuating numbers of the calculations, it translates those numbers into a simple "traffic light" system:
- Green means the trend is moving up.
- Red means the trend is moving down.
- White means the market is in equilibrium.
By observing these shifts, a trader can quickly identify when momentum is changing or when the market is consolidating, allowing for more informed decision-making regarding entry and exit points based on the overall flow of the market.
#property indicator_separate_window
#property indicator_buffers 3
#property indicator_color1 White
#property indicator_color2 SpringGreen
#property indicator_color3 Red
#property indicator_width1 4
#property indicator_width2 4
#property indicator_width3 4
extern int Par = 10; //cog2
extern int CountBars = 2000; //cog2
double nuet[];
double up[];
double down[];
//+------------------------------------------------------------------+
int init()
{
SetIndexStyle(0,DRAW_HISTOGRAM);
SetIndexBuffer(0,nuet);
SetIndexStyle(1,DRAW_HISTOGRAM);
SetIndexBuffer(1,up);
SetIndexStyle(2,DRAW_HISTOGRAM);
SetIndexBuffer(2,down);
SetIndexEmptyValue(0,0);
SetIndexEmptyValue(1,0);
SetIndexEmptyValue(2,0);
return(0);
}
//+------------------------------------------------------------------+
int deinit()
{
return(0);
}
//+------------------------------------------------------------------+
int start()
{
int counted_bars;
int limit;
int i;
double ma0;
double ma1;
counted_bars = IndicatorCounted();
if (counted_bars < 0) return(-1);
if (counted_bars > 0) counted_bars--;
limit = Bars - counted_bars;
for (i = 0; i < limit; i++)
{
ma0 = iCustom(NULL,0,"Center of Gravity2",Par,CountBars,0,i);
ma1 = iCustom(NULL,0,"Center of Gravity2",Par,CountBars,1,i);
nuet[i] = 0;
up[i] = ma0;
down[i] = ma1;
if (ma0 > ma1) down[i] = 0 && up[i] == EMPTY_VALUE && nuet[i] == EMPTY_VALUE;
if (ma0 < ma1) up[i] = 0 && down[i] == EMPTY_VALUE && nuet[i] == EMPTY_VALUE;
if (ma0 == ma1) nuet[i] = 0 && down[i] == EMPTY_VALUE && up[i] == EMPTY_VALUE;
}
return(0);
}
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