The Flat Trend indicator is designed to provide a visual representation of market momentum and trend direction by combining three different technical analysis tools into a single, easy-to-read display. Instead of cluttering your chart with multiple overlapping lines, this script processes data in the background and presents you with a clear histogram showing whether the market is leaning toward an upward move, a downward move, or staying relatively flat.
How it Works
The logic operates by analyzing historical price data over a specific timeframe (which you can customize, such as 5 minutes, 1 hour, or daily charts). To determine the "trend," the script looks at three specific factors simultaneously:
- Parabolic Sar (Trend Detection): The script uses this to identify the general direction of price movement. It acts as a dynamic boundary; if the price is above this level, it suggests upward momentum, and if below, it suggests downward momentum.
- ADX (Trend Strength): The script compares two different readings of the Average Directional Index (ADX). By looking at these two points in time, it can determine if the strength of a trend is currently increasing or decreasing.
- Price Action: It continuously monitors the current closing price relative to the indicators mentioned above.
Visual Indicators
The tool communicates its findings through three distinct colored bars:
- Lime Green (Bullish Signal): This appears when the Parabolic Sar suggests an upward move and the ADX strength is simultaneously increasing. This is a signal that the market may be gaining "upward" momentum.
- Red (Bearish Signal): This appears when the price drops below the Parabolic Sar and the ADX strength shows a decline in positive movement. This highlights potential "downward" pressure.
- Gold (Neutral/Flat Signal): This serves as a filter. If neither the bullish nor the bearish conditions are met—meaning the market is not showing clear directional momentum—the gold bar appears. This indicates a "flat" trend or a period of consolidation where the price is moving sideways.
Key Features for Users
- Customizable Timeframes: You can set the indicator to scan specific intervals (e.g., M5, H1, D1) to match your trading style.
- Simplified Decision Making: Rather than forcing you to interpret three different complex charts at once, this script distills that data into a single histogram window.
- Clean Visualization: By using separate colors for "Up," "Down," and "Flat," it allows traders to quickly identify periods of high activity versus periods of market indecision.
Price Data Components
Indicators Used
Miscellaneous
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FlatTrend
//+------------------------------------------------------------------+
//| FlatTrend.mq4 |
//| Kirk Sloan |
//| http://www.metaquotes.net |
//+------------------------------------------------------------------+
#property copyright "Kirk Sloan"
#property link "http://www.metaquotes.net"
#property indicator_separate_window
#property indicator_minimum 0
#property indicator_maximum 1
#property indicator_buffers 3
#property indicator_color1 Red
#property indicator_color2 LimeGreen
#property indicator_color3 Gold
//---- input parameters
extern int Minutes=5;
//---- buffers
double ExtMapBuffer1[];
double ExtMapBuffer2[];
double ExtMapBuffer3[];
double Ma;
double hhigh, llow;
double Psar;
double PADX,NADX;
string TimeFrameStr;
//+------------------------------------------------------------------+
//| Custom indicator initialization function |
//+------------------------------------------------------------------+
int init()
{
//---- indicators
SetIndexStyle(0,DRAW_HISTOGRAM,STYLE_SOLID,1,Red);
SetIndexBuffer(0,ExtMapBuffer1);
SetIndexStyle(1,DRAW_HISTOGRAM,STYLE_SOLID,1, LimeGreen);
SetIndexBuffer(1,ExtMapBuffer2);
SetIndexStyle(2,DRAW_HISTOGRAM,STYLE_SOLID,1, Gold);
SetIndexBuffer(2,ExtMapBuffer3);
switch(Minutes)
{
case 1 : TimeFrameStr="Period_M1"; break;
case 5 : TimeFrameStr="Period_M5"; break;
case 15 : TimeFrameStr="Period_M15"; break;
case 30 : TimeFrameStr="Period_M30"; break;
case 60 : TimeFrameStr="Period_H1"; break;
case 240 : TimeFrameStr="Period_H4"; break;
case 1440 : TimeFrameStr="Period_D1"; break;
case 10080 : TimeFrameStr="Period_W1"; break;
case 43200 : TimeFrameStr="Period_MN1"; break;
default : TimeFrameStr="Current Timeframe"; Minutes=0;
}
IndicatorShortName("Flat Trend ("+TimeFrameStr+")");
//----
return(0);
}
//+------------------------------------------------------------------+
//| Custom indicator deinitialization function |
//+------------------------------------------------------------------+
int deinit()
{
//----
//----
return(0);
}
//+------------------------------------------------------------------+
//| Custom indicator iteration function |
//+------------------------------------------------------------------+
int start()
{
int counted_bars=IndicatorCounted();
//----
for (int i = 0; i < 300; i++){
ExtMapBuffer1[i]=0;
ExtMapBuffer2[i]=0;
ExtMapBuffer3[i]=0;
PADX=iADX(NULL,Minutes,14 ,PRICE_CLOSE,1,i);
NADX=iADX(NULL,Minutes,14 ,PRICE_CLOSE,2,i);
Psar = iSAR(NULL,Minutes,0.02,0.2,i) ;
if (Psar < iClose(NULL, Minutes,i) && PADX > NADX){
ExtMapBuffer2[i] = 1;
}
if (Psar > iClose(NULL, Minutes,i) && NADX > PADX){
ExtMapBuffer1[i] = 1;
}
if (ExtMapBuffer1[i] == 0 && ExtMapBuffer2[i] == 0){
ExtMapBuffer3[i] = 1;
}
}
//----
return(0);
}
//+------------------------------------------------------------------+
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