FATL_v2
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This custom indicator is designed to analyze historical price data on a trading chart by calculating a specific weighted moving average. Instead of simply looking at the most recent price or a standard simple average, this tool processes a long sequence of past closing prices to generate a smoothed trend line.
How the Logic Works
The core functionality of the script relies on a complex mathematical formula that examines a window of the last 45 price points (historical bars). Each of these 45 prices is assigned a unique "weight" or percentage of importance.
Here is a breakdown of how the logic processes this information:
- Weighted Analysis: The script multiplies each individual closing price by a specific decimal coefficient. Some prices are given significant weight, while others contribute very little or even act as a negative offset to the calculation. This suggests that the indicator places different levels of importance on different points in time relative to the current price.
- Smoothing Effect: By combining 45 different data points into a single output value, the script filters out "market noise"—the small, rapid fluctuations that can occur in real-time trading. The resulting line provides a clearer picture of the underlying price direction.
- Data Buffer Requirements: To ensure accuracy, the script requires a minimum amount of historical data to be present on the chart (at least 45 bars). If there is not enough history available, the indicator will remain inactive.
- Visual Output: The final result of this multi-step calculation is plotted directly on your trading chart as a red line. This line serves as a visual guide to help traders identify the momentum and general flow of the market.
In summary, this tool acts as a sophisticated filtering system. It takes a large chunk of historical price data, weighs each piece of information according to a pre-defined mathematical model, and simplifies it into a single visible trend line for easier analysis.
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FATL_v2
//+------------------------------------------------------------------+
//| RFTL.mq4
//|
//+------------------------------------------------------------------+
#property copyright "Copyright 2002, Finware.ru Ltd."
#property link "http://www.finware.ru/"
#property indicator_chart_window
#property indicator_buffers 1
#property indicator_color1 Red
//---- buffers
double RFTLBuffer[];
//+------------------------------------------------------------------+
//| Custom indicator initialization function |
//+------------------------------------------------------------------+
int init()
{
string short_name;
//---- indicator line
SetIndexStyle(0,DRAW_LINE);
SetIndexBuffer(0,RFTLBuffer);
SetIndexDrawBegin(0,44);
//----
return(0);
}
//+------------------------------------------------------------------+
//| RFTL |
//+------------------------------------------------------------------+
int start()
{
int i,counted_bars=IndicatorCounted();
//----
if(Bars<=44) return(0);
//---- initial zero
if(counted_bars<44)
for(i=1;i<=0;i++) RFTLBuffer[Bars-i]=0.0;
//----
i=Bars-44-1;
if(counted_bars>=44) i=Bars-counted_bars-1;
while(i>=0)
{
RFTLBuffer[i]=
-0.02232324*Close[i+0]
+0.02268676*Close[i+1]
+0.08389067*Close[i+2]
+0.14630380*Close[i+3]
+0.19282649*Close[i+4]
+0.21002638*Close[i+5]
+0.19282649*Close[i+6]
+0.14630380*Close[i+7]
+0.08389067*Close[i+8]
+0.02268676*Close[i+9]
-0.02232324*Close[i+10]
-0.04296564*Close[i+11]
-0.03980614*Close[i+12]
-0.02082171*Close[i+13]
+0.00243636*Close[i+14]
+0.01950580*Close[i+15]
+0.02460929*Close[i+16]
+0.01799295*Close[i+17]
+0.00470540*Close[i+18]
-0.00831985*Close[i+19]
-0.01544722*Close[i+20]
-0.01456262*Close[i+21]
-0.00733980*Close[i+22]
+0.00201852*Close[i+23]
+0.00902504*Close[i+24]
+0.01093067*Close[i+25]
+0.00766099*Close[i+26]
+0.00145478*Close[i+27]
-0.00447175*Close[i+28]
-0.00750446*Close[i+29]
-0.00671646*Close[i+30]
-0.00304016*Close[i+31]
+0.00143433*Close[i+32]
+0.00457475*Close[i+33]
+0.00517589*Close[i+34]
+0.00336708*Close[i+35]
+0.00034406*Close[i+36]
-0.00233637*Close[i+37]
-0.00352280*Close[i+38]
-0.00293522*Close[i+39]
-0.00114249*Close[i+40]
+0.00083536*Close[i+41]
+0.00215524*Close[i+42]
+0.00604133*Close[i+43]
-0.00013046*Close[i+44];
i--;
}
return(0);
}
//+------------------------------------------------------------------+
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