FATL_v5
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This script functions as a specialized technical analysis tool designed to identify trend shifts and potential momentum points on a trading chart. Instead of using standard moving averages, it employs a sophisticated mathematical weight system to analyze price action.
How the Logic Works
1. Weighted Price Analysis The core of the script relies on a specific set of 39 different coefficients (weights) applied to the closing prices of recent candles. Rather than treating every candle equally, the logic assigns a unique importance value to each one. This allows the tool to capture subtle nuances in price movement that a standard indicator might miss.
2. Trend Detection Mechanics The script calculates two distinct values based on these weighted averages:
- It compares the current weighted result against the previous result.
- By calculating the difference between these two values, the script determines the "momentum" of the price.
- If the value increases, it identifies an upward trend; if it decreases, it identifies a downward trend.
3. Visual Signaling (Arrows) The tool translates these mathematical shifts into clear visual cues on your chart:
- Buy Signals (Blue Arrows): When the logic detects a shift from a downward trend to an upward trend, a blue arrow appears below the price candle.
- Sell Signals (Red Arrows): When the logic detects a shift from an upward trend to a downward trend, a red arrow appears above the price candle.
These signals are specifically triggered at the "turning point" of the trend, aiming to highlight where the momentum is reversing.
4. Reference Line Calculation Additionally, the script performs a secondary calculation to generate a reference line. This involves taking those same weighted prices, applying a specific division factor, and adding them to the current market bid. This provides a secondary visual layer of data on the chart to help contextualize the price position relative to the weighted average.
Summary for the User
In plain terms, this tool acts as a momentum reversal detector. It "weighs" the history of recent prices to figure out which way the market is leaning. When it senses the market has stopped moving in one direction and started moving in another, it places an arrow on your screen to alert you to that specific change in trend.
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FATL_v5
//+------------------------------------------------------------------+
//| FATLs.mq4 |
//| Ramdass - Conversion only |
//+------------------------------------------------------------------+
#property indicator_chart_window
#property indicator_buffers 3
#property indicator_color1 Blue
#property indicator_color2 Red
#property indicator_color3 White
//----
extern int CountBars=300;
//---- buffers
double UPBuffer[];
double DownBuffer[];
double LineBuffer[];
//+------------------------------------------------------------------+
//| Custom indicator initialization function |
//+------------------------------------------------------------------+
int init()
{
string short_name;
//---- indicator line
IndicatorBuffers(3);
//----
SetIndexStyle(0,DRAW_ARROW);
SetIndexArrow(0,241);
SetIndexBuffer(0,UPBuffer);
SetIndexStyle(1,DRAW_ARROW);
SetIndexArrow(1,242);
SetIndexBuffer(1,DownBuffer);
SetIndexStyle(2,DRAW_LINE);
SetIndexBuffer(2,LineBuffer);
//----
return(0);
}
//+------------------------------------------------------------------+
//| FATLs |
//+------------------------------------------------------------------+
int start()
{
SetIndexDrawBegin(0,Bars-CountBars+38);
SetIndexDrawBegin(1,Bars-CountBars+38);
int i,counted_bars=IndicatorCounted();
double val1, val2, i1;
bool trend,old;
//----
if(Bars<=38) return(0);
//---- initial zero
if(counted_bars<38)
{
for(i=1;i<=0;i++) UPBuffer[CountBars-i]=0.0;
for(i=1;i<=0;i++) DownBuffer[CountBars-i]=0.0;
}
//----
i=CountBars-38-1;
// if(counted_bars>=38) i=Bars-counted_bars-1;
while(i>=0)
{
val1=
0.4360409450*Close[i+0]
+0.3658689069*Close[i+1]
+0.2460452079*Close[i+2]
+0.1104506886*Close[i+3]
-0.0054034585*Close[i+4]
-0.0760367731*Close[i+5]
-0.0933058722*Close[i+6]
-0.0670110374*Close[i+7]
-0.0190795053*Close[i+8]
+0.0259609206*Close[i+9]
+0.0502044896*Close[i+10]
+0.0477818607*Close[i+11]
+0.0249252327*Close[i+12]
-0.0047706151*Close[i+13]
-0.0272432537*Close[i+14]
-0.0338917071*Close[i+15]
-0.0244141482*Close[i+16]
-0.0055774838*Close[i+17]
+0.0128149838*Close[i+18]
+0.0226522218*Close[i+19]
+0.0208778257*Close[i+20]
+0.0100299086*Close[i+21]
-0.0036771622*Close[i+22]
-0.0136744850*Close[i+23]
-0.0160483392*Close[i+24]
-0.0108597376*Close[i+25]
-0.0016060704*Close[i+26]
+0.0069480557*Close[i+27]
+0.0110573605*Close[i+28]
+0.0095711419*Close[i+29]
+0.0040444064*Close[i+30]
-0.0023824623*Close[i+31]
-0.0067093714*Close[i+32]
-0.0072003400*Close[i+33]
-0.0047717710*Close[i+34]
+0.0005541115*Close[i+35]
+0.0007860160*Close[i+36]
+0.0130129076*Close[i+37]
+0.0040364019*Close[i+38];
//----
val2=
0.4360409450*Close[i+0+1]
+0.3658689069*Close[i+1+1]
+0.2460452079*Close[i+2+1]
+0.1104506886*Close[i+3+1]
-0.0054034585*Close[i+4+1]
-0.0760367731*Close[i+5+1]
-0.0933058722*Close[i+6+1]
-0.0670110374*Close[i+7+1]
-0.0190795053*Close[i+8+1]
+0.0259609206*Close[i+9+1]
+0.0502044896*Close[i+10+1]
+0.0477818607*Close[i+11+1]
+0.0249252327*Close[i+12+1]
-0.0047706151*Close[i+13+1]
-0.0272432537*Close[i+14+1]
-0.0338917071*Close[i+15+1]
-0.0244141482*Close[i+16+1]
-0.0055774838*Close[i+17+1]
+0.0128149838*Close[i+18+1]
+0.0226522218*Close[i+19+1]
+0.0208778257*Close[i+20+1]
+0.0100299086*Close[i+21+1]
-0.0036771622*Close[i+22+1]
-0.0136744850*Close[i+23+1]
-0.0160483392*Close[i+24+1]
-0.0108597376*Close[i+25+1]
-0.0016060704*Close[i+26+1]
+0.0069480557*Close[i+27+1]
+0.0110573605*Close[i+28+1]
+0.0095711419*Close[i+29+1]
+0.0040444064*Close[i+30+1]
-0.0023824623*Close[i+31+1]
-0.0067093714*Close[i+32+1]
-0.0072003400*Close[i+33+1]
-0.0047717710*Close[i+34+1]
+0.0005541115*Close[i+35+1]
+0.0007860160*Close[i+36+1]
+0.0130129076*Close[i+37+1]
+0.0040364019*Close[i+38+1];
//----
i1=val1-val2;
UPBuffer[i]=0.0; DownBuffer[i]=0.0;
//----
if (i1>0) trend=true;
if (i1<0) trend=false;
if ((! trend==old) && trend==true) UPBuffer[i]=Low[i]-5*Point;
if ((! trend==old) && trend==false) DownBuffer[i]=High[i]+5*Point;
old=trend;
i--;
}
//clear buffer
for(i=0;i<=100;i++) LineBuffer[i]=0.0;
LineBuffer[00]=(( 0.4360409450 *Close[0])/200)+Bid;
LineBuffer[01]=(( 0.3658689069 *Close[1])/200)+Bid;
LineBuffer[02]=(( 0.2460452079 *Close[2])/200)+Bid;
LineBuffer[03]=(( 0.1104506886 *Close[3])/200)+Bid;
LineBuffer[04]=(((-0.0054034585)*Close[4])/200)+Bid;
LineBuffer[05]=(((-0.0760367731)*Close[5])/200)+Bid;
LineBuffer[06]=(((-0.0933058722)*Close[6])/200)+Bid;
LineBuffer[07]=(((-0.0670110374)*Close[7])/200)+Bid;
LineBuffer[08]=(((-0.0190795053)*Close[8])/200)+Bid;
LineBuffer[09]=(( 0.0259609206 *Close[9])/200)+Bid;
LineBuffer[10]=(( 0.0502044896 *Close[10])/200)+Bid;
LineBuffer[11]=(( 0.0477818607 *Close[11])/200)+Bid;
LineBuffer[12]=(( 0.0249252327 *Close[12])/200)+Bid;
LineBuffer[13]=(((-0.0047706151)*Close[13])/200)+Bid;
LineBuffer[14]=(((-0.0272432537)*Close[14])/200)+Bid;
LineBuffer[15]=(((-0.0338917071)*Close[15])/200)+Bid;
LineBuffer[16]=(((-0.0244141482)*Close[16])/200)+Bid;
LineBuffer[17]=(((-0.0055774838)*Close[17])/200)+Bid;
LineBuffer[18]=(( 0.0128149838 *Close[18])/200)+Bid;
LineBuffer[19]=(( 0.0226522218 *Close[19])/200)+Bid;
LineBuffer[20]=(( 0.0208778257 *Close[20])/200)+Bid;
LineBuffer[21]=(( 0.0100299086 *Close[21])/200)+Bid;
LineBuffer[22]=(((-0.0036771622)*Close[22])/200)+Bid;
LineBuffer[23]=(((-0.0136744850)*Close[23])/200)+Bid;
LineBuffer[24]=(((-0.0160483392)*Close[24])/200)+Bid;
LineBuffer[25]=(((-0.0108597376)*Close[25])/200)+Bid;
LineBuffer[26]=(((-0.0016060704)*Close[26])/200)+Bid;
LineBuffer[27]=(( 0.0069480557 *Close[27])/200)+Bid;
LineBuffer[28]=(( 0.0110573605 *Close[28])/200)+Bid;
LineBuffer[29]=(( 0.0095711419 *Close[29])/200)+Bid;
LineBuffer[30]=(( 0.0040444064 *Close[30])/200)+Bid;
LineBuffer[31]=(((-0.0023824623)*Close[31])/200)+Bid;
LineBuffer[32]=(((-0.0067093714)*Close[32])/200)+Bid;
LineBuffer[33]=(((-0.0072003400)*Close[33])/200)+Bid;
LineBuffer[34]=(((-0.0047717710)*Close[34])/200)+Bid;
LineBuffer[35]=(( 0.0005541115 *Close[35])/200)+Bid;
LineBuffer[36]=(( 0.0007860160 *Close[36])/200)+Bid;
LineBuffer[37]=(( 0.0130129076 *Close[37])/200)+Bid;
LineBuffer[38]=(( 0.0040364019 *Close[38])/200)+Bid;
return(0);
}
//+------------------------------------------------------------------+
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