forexline_update_03
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This tool is designed to analyze market trends and provide visual cues and automated notifications regarding potential trading opportunities. It works by layering different types of moving averages to smooth out price data, helping to identify the underlying direction of the market while filtering out minor "noise."
How the Logic Works
1. Trend Layering (The Foundation) The script calculates three distinct layers of moving averages based on specific time frames (5, 10, and 20 periods). By layering these, the tool creates a sophisticated view of momentum:
- It uses a "fast" moving average to react quickly to price changes.
- It applies additional smoothing steps to these results to create a "slow" moving average.
- By comparing these two, the tool determines the general health of the trend.
2. Visual Trend Mapping The script draws specific lines on your chart to represent the current market state:
- Upward Trend: When the fast data is significantly above the slow data, a blue line appears, signaling that the price is currently in an upward phase.
- Downward Trend: When the fast data drops below the slow data, a white line appears, indicating a downward phase.
3. Multi-Factor Signal Confirmation To prevent "false signals," the tool doesn't just look at one indicator. It cross-references several conditions simultaneously before issuing an alert:
- Price Action: It checks if the current candle is closing higher or lower than its opening price.
- Relative Position: It compares the current price against the moving average values.
- Momentum Analysis (MACD): It incorporates a secondary calculation to ensure that the strength of the move (momentum) is actually increasing in the desired direction.
Signal Types and Actions
The logic categorizes market movements into six specific scenarios, which trigger different alerts:
- Strong Buy: Triggered when all conditions align for a sustained upward move. It provides a direct "Open BUY" instruction.
- Strong Sell: Triggered when all conditions align for a sustained downward move. It provides a direct "Open SELL" instruction.
- Feasibility Alerts (Wait and See): These occur when the trend is moving in your desired direction but hasn't met every single criteria for a high-confidence entry yet. The tool advises you to wait for further confirmation.
- Beginning Trends: These alert you that a price move has just started to turn. This is designed to give you early notice of a potential shift before it becomes a confirmed trend.
Notification System
The script is equipped to keep you informed in real-time. Depending on your settings, it can send:
- Pop-up Alerts: Visual messages directly on your trading platform.
- Sound Alerts: Audio cues to grab your attention instantly.
- Email Notifications: Sent directly to your inbox for movements occurring when you are away from your desk.
The logic is specifically designed to ensure that alerts are only sent once per minute and only when a significant change in status occurs, preventing your screen from being flooded with repetitive messages.
Price Data Components
Indicators Used
Miscellaneous
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forexline_update_03
//+------------------------------------------------------------------+
//| ForexLine.mq4 |
//| Copyright 2015, 3rjfx ~ 22/03/2015 |
//| https://www.mql5.com/en/users/3rjfx |
//+------------------------------------------------------------------+
#property copyright "Copyright 2015, 3rjfx ~ 22/03/2015"
#property link "https://www.mql5.com/en/users/3rjfx"
#property version "1.00"
//--
/* Update (26/03/2015):
~ Added Alerts (Messages, Email dan Sound) to the indicator.
~ Eliminate bugs due to the use of ArraySetAsSeries true.
//--
Update (08/04/2015):
~ Eliminate bugs due to the use of LinearWeightedMAOnBuffer.
~ Enhance the signal alerts.
//--
Update (21/04/2015):
~ Improve signal formula, to make it more accurate.
~ Simplify the message alerts.
*/
//--
#property indicator_chart_window
//-
#property indicator_buffers 6
#property indicator_color1 clrNONE
#property indicator_color2 clrNONE
#property indicator_color3 clrNONE
#property indicator_color4 clrNONE
#property indicator_color5 clrBlue
#property indicator_color6 clrWhite
//--
#property indicator_width5 3
#property indicator_width6 3
//--
extern bool SoundAlerts = true;
extern bool MsgAlerts = true;
extern bool eMailAlerts = false;
extern string SoundAlertFile = "alert.wav";
extern color ForexLineColor1 = clrBlue; // Line Up
extern color ForexLineColor2 = clrWhite; // Line Down
//-- buffers
double lwma05Buffers[];
double lwma10Buffers[];
double lwma20Buffers[];
double line20Buffers[];
double uplineBuffers[];
double dnlineBuffers[];
//-
int digit;
int curMnt;
int prvMnt;
int mafast=5;
int maslow=10;
int mdma20=20;
int cural,prval;
int prvAlertBar;
//-
bool lup,ldn;
//-
string symbol=_Symbol;
string alBase,alSubj,alMsg;
//-
void EventSetTimer();
//--
//+------------------------------------------------------------------+
//| Custom indicator initialization function |
//+------------------------------------------------------------------+
int OnInit(void)
{
//-- Checking the Digits Point
if(Digits==3||Digits==5||symbol=="GOLD")
{digit=Digits;}
else {digit=Digits+1;}
//-
IndicatorDigits(digit);
//--
//--- indicator buffers mapping
IndicatorBuffers(6);
//--
SetIndexBuffer(0,lwma05Buffers);
SetIndexBuffer(1,lwma10Buffers);
SetIndexBuffer(2,lwma20Buffers);
SetIndexBuffer(3,line20Buffers);
SetIndexBuffer(4,uplineBuffers);
SetIndexBuffer(5,dnlineBuffers);
//--- indicator lines
SetIndexStyle(0,DRAW_NONE);
SetIndexStyle(1,DRAW_NONE);
SetIndexStyle(2,DRAW_NONE);
SetIndexStyle(3,DRAW_NONE);
SetIndexStyle(4,DRAW_LINE,EMPTY,3,ForexLineColor1);
SetIndexStyle(5,DRAW_LINE,EMPTY,3,ForexLineColor2);
//--- name for DataWindow and indicator subwindow label
SetIndexLabel(0,NULL);
SetIndexLabel(1,NULL);
SetIndexLabel(2,NULL);
SetIndexLabel(3,NULL);
SetIndexLabel(4,"Rice Above: ");
SetIndexLabel(5,"Down Below: ");
//--
SetIndexDrawBegin(4,maslow);
SetIndexDrawBegin(5,maslow);
//--
IndicatorShortName("FXLine");
//--
prvAlertBar=Bars-1;
//--- initialization done
return(INIT_SUCCEEDED);
}
//+------------------------------------------------------------------+
//| Custom indicator deinitialization function |
//+------------------------------------------------------------------+
void OnDeinit(const int reason)
{
//----
//--
EventKillTimer();
GlobalVariablesDeleteAll();
//----
return;
}
//+------------------------------------------------------------------+
//| Custom indicator iteration function |
//+------------------------------------------------------------------+
int OnCalculate(const int rates_total,
const int prev_calculated,
const datetime &time[],
const double &open[],
const double &high[],
const double &low[],
const double &close[],
const long &tick_volume[],
const long &volume[],
const int &spread[])
{
//---
int i,limit;
cural=-1;
lup=false;
ldn=false;
double FLOpen;
double FLClos;
//--- check for bars count
if(rates_total<=maslow) return(0);
//--- Set Last error value to Zero
ResetLastError();
RefreshRates();
//--- last counted bar will be recounted
limit=rates_total-prev_calculated;
if(prev_calculated>0) limit++;
//--
//--- counting from rates_total to 0
ArraySetAsSeries(lwma05Buffers,true);
ArraySetAsSeries(lwma10Buffers,true);
ArraySetAsSeries(lwma20Buffers,true);
ArraySetAsSeries(line20Buffers,true);
ArraySetAsSeries(uplineBuffers,true);
ArraySetAsSeries(dnlineBuffers,true);
ArraySetAsSeries(open,true);
ArraySetAsSeries(high,true);
ArraySetAsSeries(low,true);
ArraySetAsSeries(close,true);
//--
//--- main cycle
for(i=limit-1; i>=0; i--)
{
lwma05Buffers[i]=iMA(symbol,0,mafast,0,3,4,i);
line20Buffers[i]=iMA(symbol,0,mdma20,0,0,4,i);
}
//-
for(i=limit-1; i>=0; i--)
{lwma10Buffers[i]=iMAOnArray(lwma05Buffers,0,maslow,0,3,i);}
for(i=limit-1; i>=0; i--)
{lwma20Buffers[i]=iMAOnArray(lwma10Buffers,0,mdma20,0,3,i);}
//-
for(i=limit-1; i>=0; i--)
{
//--
if((lwma05Buffers[i]>lwma20Buffers[i])) {lup=true; ldn=false;}
if((lwma05Buffers[i]<lwma20Buffers[i])) {ldn=true; lup=false;}
if(lup==true)
{uplineBuffers[i]=line20Buffers[i]; dnlineBuffers[i]=EMPTY_VALUE;}
if(ldn==true)
{dnlineBuffers[i]=line20Buffers[i]; uplineBuffers[i]=EMPTY_VALUE;}
//-
if(i==0)
{
//--
double flmacd0=iMACD(symbol,0,12,26,9,0,0,0)-iMACD(symbol,0,12,26,9,0,1,0);
double flmacd1=iMACD(symbol,0,12,26,9,0,0,1)-iMACD(symbol,0,12,26,9,0,1,1);
double macdfm0=iMACD(symbol,0,12,26,9,0,0,0);
double macdfm1=iMACD(symbol,0,12,26,9,0,0,1);
FLOpen=(iHigh(symbol,0,1)+iLow(symbol,0,1)+iClose(symbol,0,1)+iClose(symbol,0,1))/4;
FLClos=(iHigh(symbol,0,0)+iLow(symbol,0,0)+iClose(symbol,0,0)+iClose(symbol,0,0))/4;
bool flmacdup=((flmacd0>flmacd1)&&(macdfm0>macdfm1));
bool flmacddn=((flmacd0<flmacd1)&&(macdfm0<macdfm1));
//--
if((lup==true)&&(lwma05Buffers[0]>lwma05Buffers[1])&&(flmacdup)&&(FLClos>FLOpen)&&
(close[0]>open[0])&&(close[0]>lwma05Buffers[0])) {cural=3;} // goes up
//-
if((lup==true)&&(lwma05Buffers[0]>lwma05Buffers[1])&&(flmacddn)&&(FLClos<FLOpen)&&
(close[0]<lwma05Buffers[0])) {cural=1;} // feasibility down
//-
if((lup==true)&&(lwma05Buffers[0]<=lwma05Buffers[1])&&(flmacddn)&&(FLClos<FLOpen)&&
(close[0]<lwma05Buffers[0])) {cural=5;} // began to down
//--
if((ldn==true)&&(lwma05Buffers[0]<lwma05Buffers[1])&&(flmacddn)&&(FLClos<FLOpen)&&
(close[0]<open[0])&&(close[0]<lwma05Buffers[0])) {cural=2;} // goes down
//-
if((ldn==true)&&(lwma05Buffers[0]<lwma05Buffers[1])&&(flmacdup)&&(FLClos>FLOpen)&&
(close[0]>lwma05Buffers[0])) {cural=0;} // feasibility up
//-
if((ldn==true)&&(lwma05Buffers[0]>=lwma05Buffers[1])&&(flmacdup)&&(FLClos>FLOpen)&&
(close[0]>lwma05Buffers[0])) {cural=4;} // began to up
//--
}
//--
}
//--
posAlerts(cural);
ChartRedraw(0);
Sleep(500);
RefreshRates();
//---
//--- return value of prev_calculated for next call
return(rates_total);
}
//---//
void doAlerts(string msgText,string eMailSub)
{
//--
if(MsgAlerts) Alert(msgText);
if(SoundAlerts) PlaySound(SoundAlertFile);
if(eMailAlerts) SendMail(eMailSub,msgText);
//--
}
//---/
//---/
string strTF(int period)
{
switch(period)
{
//--
case PERIOD_M1: return("M1");
case PERIOD_M5: return("M5");
case PERIOD_M15: return("M15");
case PERIOD_M30: return("M30");
case PERIOD_H1: return("H1");
case PERIOD_H4: return("H4");
case PERIOD_D1: return("D1");
case PERIOD_W1: return("W1");
case PERIOD_MN1: return("MN");
//--
}
return(_Period);
}
//---/
void posAlerts(int alerts)
{
//--
curMnt=(int)Minute();
if(curMnt!=prvMnt)
{
//--
if((cural!=prval)&&(alerts==3))
{
alBase=StringConcatenate("ForexLine: ",symbol,", TF: ",strTF(_Period)," @ ",TimeToStr(TimeLocal()));
alSubj=StringConcatenate(alBase,". The Price Goes Up,");
alMsg=StringConcatenate(alSubj," Action: Open BUY.!!");
prvMnt=curMnt;
prval=cural;
doAlerts(alMsg,alSubj);
}
//--
if((cural!=prval)&&(alerts==2))
{
alBase=StringConcatenate("ForexLine: ",symbol,", TF: ",strTF(_Period)," @ ",TimeToStr(TimeLocal()));
alSubj=StringConcatenate(alBase,". The Price Goes Down,");
alMsg=StringConcatenate(alSubj," Action: Open SELL.!!");
prvMnt=curMnt;
prval=cural;
doAlerts(alMsg,alSubj);
}
//--
if((cural!=prval)&&(alerts==0))
{
alBase=StringConcatenate("ForexLine: ",symbol,", TF: ",strTF(_Period)," @ ",TimeToStr(TimeLocal()));
alSubj=StringConcatenate(alBase,". The Price Feasibility Up,");
alMsg=StringConcatenate(alSubj," Action: Wait and See.!!");
prvMnt=curMnt;
prval=cural;
doAlerts(alMsg,alSubj);
}
//--
if((cural!=prval)&&(alerts==1))
{
alBase=StringConcatenate("ForexLine: ",symbol,", TF: ",strTF(_Period)," @ ",TimeToStr(TimeLocal()));
alSubj=StringConcatenate(alBase,". The Price Feasibility Down,");
alMsg=StringConcatenate(alSubj," Action: Wait and See.!!");
prvMnt=curMnt;
prval=cural;
doAlerts(alMsg,alSubj);
}
//--
if((cural!=prval)&&(alerts==4))
{
alBase=StringConcatenate("ForexLine: ",symbol,", TF: ",strTF(_Period)," @ ",TimeToStr(TimeLocal()));
alSubj=StringConcatenate(alBase," The Price Began to Up,");
alMsg=StringConcatenate(alSubj," Action: Wait and See.!!");
prvMnt=curMnt;
prval=cural;
doAlerts(alMsg,alSubj);
}
//--
if((cural!=prval)&&(alerts==5))
{
alBase=StringConcatenate("ForexLine: ",symbol,", TF: ",strTF(_Period)," @ ",TimeToStr(TimeLocal()));
alSubj=StringConcatenate(alBase," The Price Began to Down,");
alMsg=StringConcatenate(alSubj," Action: Wait and See.!!");
prvMnt=curMnt;
prval=cural;
doAlerts(alMsg,alSubj);
}
//--
}
//--
return;
//--
//----
} //-end posAlerts()
//---/
//+------------------------------------------------------------------+
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