FF Tunnel Chart
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Overview of the FF Tunnel Logic
The FF Tunnel is a technical analysis tool designed to help traders visualize market trends, identify specific price "tunnels," and monitor overall momentum across different timeframes. It combines moving averages, Fibonacci-inspired risk levels, and weekly trend filters to provide a comprehensive snapshot of market conditions.
Key Components & Visuals
1. The Moving Average Tunnel
The script plots two primary moving averages on your chart to help identify the immediate price action:
- 55 SMA (Median): Acts as a baseline for the "tunnel." This represents the medium-term trend.
- 8 SMA (Close): A faster-moving average that helps track short-term price fluctuations relative to the 55 SMA.
2. Dynamic Risk Models
One of the core features is the ability to switch between three different Risk Models. Depending on your chosen setting, the script projects four specific "Fibonacci" lines above and below the 55 SMA baseline. These lines serve as potential support, resistance, or profit-taking targets:
- Model 1: Uses tighter spreads (89 and 144 points).
- Model 2: Uses moderate spreads (144 and 233 points).
- Model 3: Uses wider spreads (233 and 377 points).
3. Weekly Trend Filtering
The script doesn't just look at the current chart; it also analyzes Weekly Data in the background. It calculates the relationship between a 5-period Simple Moving Average and a 21-period Exponential Moving Average on a weekly basis.
- It determines the "Weekly Direction" (Up or Down) based on the change in this difference.
- This helps you ensure that your short-term trades are aligned with the broader, long-term market direction.
Trading Intelligence & Alerts
Smart Filtering
The script includes a built-in safety filter. If the price is too close to the 55 SMA (within a specific narrow range), it will generate a Warning. This warns you that the market may be in a "choppy" or undecided state, suggesting you should only trade if the price breaks clearly above or below the tunnel boundaries.
Visual & Audio Feedback
The tool provides real-time feedback through an on-screen dashboard (Comment box) and alerts:
- Dashboard: Displays the current Weekly Direction, active Risk Model, specific values for all tunnel lines, and the current filtering status.
- Visual Alerts: The script monitors a "Slope Change" point. When the price hits this specific marker, it triggers a visual alert to notify you of a potential shift in momentum or structure.
Summary for the Trader
The FF Tunnel is designed to take the guesswork out of trend identification. By visualizing the "tunnel" of price action and comparing it against weekly momentum, it helps you stay on the right side of the market while providing clear "zones" (via the Risk Models) to manage your entries and exits.
//+------------------------------------------------------------------+
//| FF Tunnel.mq4 |
//| FFwithFX |
//| |
//+------------------------------------------------------------------+
#property copyright "Financial Freedom with Forex"
#property link ""
#property indicator_chart_window
#property indicator_buffers 8
#property indicator_color1 Magenta
#property indicator_color2 Red
#property indicator_color3 Silver
#property indicator_color4 Silver
#property indicator_color5 Silver
#property indicator_color6 Silver
#property indicator_color7 Blue
#property indicator_color8 Silver
//---- input parameters
extern bool AudioAlerts=true;
extern bool VisualAlerts=true;
extern int RiskModel=1;
//---- buffers
double ExtMapBuffer1[]; // 55 SMA Median
double ExtMapBuffer2[]; // 8 SMA Close
double ExtMapBuffer3[]; // 1st FibLine up
double ExtMapBuffer4[]; // 2nd FibLine up
double ExtMapBuffer5[]; // 1st FibLine down
double ExtMapBuffer6[]; // 2nd FibLine down
double ExtMapBuffer7[]; // Turning Line
double ExtMapBuffer8[];
//+------------------------------------------------------------------+
//| Custom indicator initialization function |
//+------------------------------------------------------------------+
int init()
{
//---- indicators
SetIndexStyle(0,DRAW_LINE,STYLE_SOLID,2);
SetIndexBuffer(0,ExtMapBuffer1);
SetIndexLabel(0,"55 SMA");
SetIndexStyle(1,DRAW_LINE);
SetIndexBuffer(1,ExtMapBuffer2);
SetIndexLabel(1,"8 SMA");
SetIndexStyle(2,DRAW_LINE);
SetIndexBuffer(2,ExtMapBuffer3);
SetIndexStyle(3,DRAW_LINE);
SetIndexBuffer(3,ExtMapBuffer4);
SetIndexStyle(4,DRAW_LINE);
SetIndexBuffer(4,ExtMapBuffer5);
SetIndexStyle(5,DRAW_LINE);
SetIndexBuffer(5,ExtMapBuffer6);
SetIndexStyle(6,DRAW_LINE,STYLE_DOT,1,Green);
SetIndexBuffer(6,ExtMapBuffer7);
SetIndexLabel(6,"Slope Change");
SetIndexStyle(7,DRAW_LINE);
SetIndexBuffer(7,ExtMapBuffer8);
//----
return(0);
}
//+------------------------------------------------------------------+
//| Custor indicator deinitialization function |
//+------------------------------------------------------------------+
int deinit()
{
//----
//----
return(0);
}
//+------------------------------------------------------------------+
//| Custom indicator iteration function |
//+------------------------------------------------------------------+
int start()
{
int limit;
int counted_bars=IndicatorCounted();
double curr_EMA21;
double curr_SMA5;
double prev_EMA21;
double prev_SMA5;
double WDiff;
string Direction;
string Filter;
//---- check for possible errors
if(counted_bars<0) return(-1);
//---- last counted bar will be recounted
if(counted_bars>0) counted_bars--;
limit=Bars-counted_bars;
//---- main loop
for(int i=0; i<limit; i++)
{
//---- ma_shift set to 0 because SetIndexShift called abowe
ExtMapBuffer1[i]=iMA(NULL,0,55,0,MODE_SMA,PRICE_MEDIAN,i);
ExtMapBuffer2[i]=iMA(NULL,0,8,0,MODE_SMA,PRICE_CLOSE,i);
ExtMapBuffer7[i]=Close[i+8];
Filter = "OK to Trade";
//Model #1 89,144,233
if(RiskModel==1)
{
ExtMapBuffer3[i]=ExtMapBuffer1[i]+89*Point;
ExtMapBuffer4[i]=ExtMapBuffer1[i]+144*Point;
ExtMapBuffer5[i]=ExtMapBuffer1[i]-89*Point;
ExtMapBuffer6[i]=ExtMapBuffer1[i]-144*Point;
}
//Model #2 144,233,377
if(RiskModel==2)
{
ExtMapBuffer3[i]=ExtMapBuffer1[i]+144*Point;
ExtMapBuffer4[i]=ExtMapBuffer1[i]+233*Point;
ExtMapBuffer5[i]=ExtMapBuffer1[i]-144*Point;
ExtMapBuffer6[i]=ExtMapBuffer1[i]-233*Point;
}
//Model #3 233,377,610
if(RiskModel==3)
{
ExtMapBuffer3[i]=ExtMapBuffer1[i]+233*Point;
ExtMapBuffer4[i]=ExtMapBuffer1[i]+377*Point;
ExtMapBuffer5[i]=ExtMapBuffer1[i]-233*Point;
ExtMapBuffer6[i]=ExtMapBuffer1[i]-377*Point;
}
}
//---- Calculate the different weekly data
curr_EMA21=iMA(NULL,PERIOD_W1,21,0,MODE_EMA,PRICE_MEDIAN,0);
curr_SMA5=iMA(NULL,PERIOD_W1,5,0,MODE_SMA,PRICE_MEDIAN,0);
prev_EMA21=iMA(NULL,PERIOD_W1,21,0,MODE_EMA,PRICE_MEDIAN,1);
prev_SMA5=iMA(NULL,PERIOD_W1,5,0,MODE_SMA,PRICE_MEDIAN,1);
WDiff=((curr_SMA5-curr_EMA21) - (prev_SMA5-prev_EMA21));
if (WDiff > 0.0) Direction = "^^ UP ^^";
if (WDiff < 0.0) Direction = "vv DOWN vv";
// }
// Check for FILTER conditions
if (MathAbs(ExtMapBuffer1[0]-ExtMapBuffer2[0]) < 50*Point) {
Filter = StringConcatenate("WARNING: Only trade if Price > ",MathMin(ExtMapBuffer1[0],ExtMapBuffer2[0])+50*Point,
" or < ",MathMax(ExtMapBuffer1[0],ExtMapBuffer2[0])-50*Point);
}
Comment("4Hr Tunnel Weekly Direction : ",Direction,"\n",Filter,
"\nRISK MODEL #",RiskModel," (0-3)\nSlope Change : ",ExtMapBuffer7[0],
"\n","\nMA+2 : ",ExtMapBuffer4[0],"\nMA+1 : ",ExtMapBuffer3[0],
"\nSMA55 : ",ExtMapBuffer1[0],
"\nMA-1 : ",ExtMapBuffer5[0],"\nMA-2 : ",ExtMapBuffer6[0]);
// }
//+--------------------------------------------------------------------------+
//- ALERTS PlaySound("alert.wav"); -
//+--------------------------------------------------------------------------+
// if(AudioAlerts)
// {
// if(Close[i]>ExtMapBuffer7[0] || Close[i]<ExtMapBuffer7[0])
// {
// PlaySound("alert.wav");
// }
// }
//
if(VisualAlerts)
{
if(Close[0]==ExtMapBuffer7[0] || Close[0]==ExtMapBuffer7[0])
{
Alert(Symbol()," ", Period(), "min Slope Change - ",Close[0],
"\n Time: ", TimeToStr(CurTime(),TIME_DATE|TIME_SECONDS),"\n",Filter);
}
}
//---- done
//----
//----
return(0);
}
//+------------------------------------------------------------------+
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