DayImpulse2DD_v2
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The DayImpulse2DD indicator is designed to help traders visualize market momentum by calculating the cumulative price movement over a specific number of bars. Unlike standard indicators that only look at current prices, this tool analyzes the "impulse" or the net change between opening and closing prices to provide a clearer picture of trend strength.
Core Logic and Functionality
1. Impulse Calculation The primary logic of the script works by looking back at a user-defined number of bars (the "Period"). For every bar within that window, it calculates the difference between the closing price and the opening price. By summing these differences together, the indicator creates a cumulative "impulse" value. This helps to identify whether the price has trended significantly in one direction or has remained stagnant over a set duration.
2. Forward Shifting To provide a clearer perspective on market movement, the indicator applies a "Forward Shift." This visually moves the resulting signal lines ahead of the current price action. The purpose of this shift is to help traders visualize potential momentum trajectories based on historical data, though it is important to note that while the visual representation shifts forward, it remains grounded in calculated past data.
3. Secondary Signal (Signal2) The script includes an optional secondary signal. While the main signal shows the cumulative impulse of a period, this second signal focuses exclusively on the price movement of a single bar (the difference between its open and close). By shifting this specific point forward, it allows traders to see the immediate "pulse" of the most recent price action in a projected space.
4. Moving Average Smoothing For traders who prefer smoother data trends, the script can calculate a Moving Average based on the primary Impulse values. This filters out minor fluctuations and highlights the broader direction of the momentum, making it easier to identify sustained trends versus temporary spikes.
Key Considerations for Users
- Dynamic Updates: The indicator constantly recalculates its values as new price data arrives. Because the signal is always updating, a "perfect" historical look can be deceptive; the most reliable information is always found on the most current, live bar.
- Visual Representation: The tool provides three distinct visual components: the primary Impulse Signal, an optional Moving Average for smoothing, and the Signal2 for immediate price movement. These appear in a separate window below the main price chart to keep your main view clean.
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| Shared by www.Aptrafx.com |
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/*
* Filename: DayImpulse2DD.mq4
* Author: DriverDan, based on the original by Tartan at the link below
* Date: Nov 3, 2005
*
* Description: Sums the close - open for the past "per" bars and shifts it forward
* "drawShift" bars. Works very well at predicting movement.
*
* Signal2 is just the current bar's close - open shifted "drawShift"
* periods forward. This is what you see as the main signal draws. It
* isn't updated as time moves forward so that you have something to look
* back on.
*
* WARNING: Looking at past bars will be deceiving. It may look like it
* predicts perfectly on some pairs but remember that it is constantly
* updated. The most accurate live bar is the current one.
*
* The future is not set.
*
* Version: 2DD
* Released by DriverDan
* Almost all of the code has been changed or rewritten.
* Added Signal2.
*
* 1.1
* Released by DriverDan
* Fix horrible style, removed extra buffer, changed to draw from the
* beginning, added MA, and fixed gaps in signal.
*
* 1.0
* Initial release
* http://www.arkworldmarket.ru/forum/showthread.php?t=966&page=2&pp=10
*/
#property indicator_separate_window
#property indicator_buffers 3
#property indicator_color1 Gold
#property indicator_color2 White
#property indicator_color3 DodgerBlue
extern int per = 14; // Period for signal
extern int drawShift = 14; // Forward shift
extern int useMA = 1; // 1 = use MA
extern int maPeriod = 34; // Moving average period
extern int useSignal2 = 1; // Show current close - open shifted forward
// Buffers for signals
double ExtMapBuffer[];
double maBuffer[];
double closeBuffer[];
int init() {
string title = "DayImplus(" + per + ")";
// Signal and MA are normal lines
SetIndexStyle(0, DRAW_LINE);
SetIndexBuffer(0, ExtMapBuffer);
SetIndexStyle(1, DRAW_LINE);
SetIndexBuffer(1, maBuffer);
// Signal2 is a dotted line
SetIndexStyle(2, DRAW_LINE, 2, 1);
SetIndexBuffer(2, closeBuffer);
// Shift everything forward
SetIndexShift(0, drawShift);
SetIndexShift(1, drawShift);
SetIndexShift(2, drawShift);
// Titles for each line
SetIndexLabel(0, "Signal(" + per + ")");
SetIndexLabel(1, "MA(" + maPeriod + ")");
SetIndexLabel(2, "Signal2(" + per + ")");
if(useMA == 1) {
title = title + " MA(" + maPeriod + ")";
}
IndicatorShortName(title);
return(0);
}
int start() {
int counted_bars = IndicatorCounted();
int shift, i, imp, limit, lim;
// This is to make sure we go back and update bars that have already been drawn.
// This was missing in the original release. If it's not done the live signal line
// will be the same as Signal2.
if(counted_bars > per) {
limit = Bars - counted_bars + 13;
} else {
limit = Bars - 1;
}
// Loop through and calculate the signals. Everytime this runs we recalculate the
// current and all future signals. The future is not set :)
for(shift = limit; shift >= 0; shift--) {
imp = 0;
// This isn't really needed but makes sure we don't look for future,
// non-existant open and close points. It's just proper coding. You never know
// how a program will handle variables that don't exist. MT4 currently sets them
// to zero but you don't know if that will change.
if(shift - per < 0) {
lim = 0;
} else {
lim = shift - per;
}
// Calculate the signal
for(i = shift; i >= lim; i--) {
imp = imp + (Close[i] - Open[i]) / Point;
}
ExtMapBuffer[shift] = imp;
// If Signal2 is being used set it.
if(useSignal2 == 1) {
closeBuffer[i] = (Close[i] - Open[i]) / Point;
}
}
// If we're using the MA calculate it.
if(useMA == 1) {
for(shift = Bars - counted_bars - 1; shift >= 0; shift--) {
if(shift < Bars - maPeriod && shift < Bars - per) {
maBuffer[shift] = iMAOnArray(ExtMapBuffer, 0, maPeriod, 0, MODE_SMA, shift);
}
}
}
return(0);
}
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