FTLM_STLM_v1

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Author: Copyright 2002, Finware.ru Ltd.
FTLM_STLM_v1

This script is a technical analysis tool designed for the MetaTrader 4 platform. It functions as a custom indicator that processes historical price data to generate two distinct visual lines on a separate window in your trading chart.

Core Logic Overview

The primary goal of this script is to calculate specific "weighted" values based on the closing prices of past candles. Instead of using a simple average, it applies a sophisticated mathematical formula to each line. These formulas are designed to smooth out market noise and highlight underlying price trends or momentum shifts.

How the Calculations Work

The tool generates two unique output lines by performing the following steps:

  • Weighted Data Processing: The script looks back at a specific number of previous price points (candles). For each point in that history, it assigns a unique "weight"—a positive or negative multiplier. This allows the indicator to give more importance to certain historical prices while discounting others.
  • Two Distinct Components: The logic creates four separate intermediate values (value1 through value4). These represent different mathematical perspectives of price action:
    • One set of calculations focuses on a shorter, specific weighted average.
    • The other set utilizes a much broader scope of historical data (looking further back into the past) to determine its weight.
  • Final Line Generation: The two visible lines you see on your chart are derived by subtracting these weighted components from one another:
    1. Line 1 (FTLM): Result of the first set of weights minus the second.
    2. Line 2 (STLM): Result of a third set of weights minus a fourth.

Visual Output and Behavior

  • Separate Window: Rather than appearing directly on top of the price candles, this indicator opens in its own dedicated pane at the bottom of your screen. This allows you to observe the "momentum" or "trend" lines independently of the price action.
  • Historical Scope: The script is configured to analyze a specific buffer of historical data (defaulting to 400 bars), ensuring that the lines are drawn consistently across your chart history.
  • Smooth Transitions: Because the script uses high-precision decimal multipliers for every historical point, the resulting lines provide a smooth visual representation of price dynamics rather than jagged, erratic movements.

Summary for the User

In simple terms, this script acts as a dual-trend filter. By applying complex weighting to past prices and subtracting those values from each other, it creates two smooth lines. Traders typically use these lines to identify trend directions, potential exhaustion points, or "cross-over" signals where the relationship between the two weighted trends changes significantly.

Miscellaneous
Implements a curve of type %1
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FTLM_STLM_v1 
/*-----------------------------+
|			       |
| Shared by www.Aptrafx.com    |
|			       |
+------------------------------*/

//+------------------------------------------------------------------+
//| FTLM_STLM.mq4 
//| 
//+------------------------------------------------------------------+
#property copyright "Copyright 2002, Finware.ru Ltd."
#property link "http://www.finware.ru/"

#property indicator_separate_window
#property indicator_buffers 2
#property indicator_color1 Blue
#property indicator_color2 Red

extern int CountBars=400;
//---- buffers
double FTLMBuffer[];
double STLMBuffer[];
double value1;
double value2;
double value3;
double value4;
//+------------------------------------------------------------------+
//| Custom indicator initialization function                         |
//+------------------------------------------------------------------+
int init()
  {
   string short_name;
//---- indicator line
   IndicatorBuffers(2);
   SetIndexStyle(0,DRAW_LINE);
   SetIndexBuffer(0,STLMBuffer);
   SetIndexStyle(1,DRAW_LINE);
   SetIndexBuffer(1,FTLMBuffer);
//----
   return(0);
  }
//+------------------------------------------------------------------+
//| FTLM_STLM                                                             |
//+------------------------------------------------------------------+
int start()
  {
   SetIndexDrawBegin(0,Bars-CountBars+90);
   SetIndexDrawBegin(1,Bars-CountBars+90);
   int i,counted_bars=IndicatorCounted();
//----
   if(Bars<=90) return(0);
//---- initial zero
   if(counted_bars<43)
   {
      for(i=1;i<=0;i++) FTLMBuffer[CountBars-i]=0.0;
      for(i=1;i<=0;i++) STLMBuffer[CountBars-i]=0.0;
   }
//----
   i=CountBars-90-1;
//   if(counted_bars>=90) i=Bars-counted_bars-1;
   while(i>=0)
     {
value1 =
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];

value2 =
-0.0025097319*Close[i+0]
+0.0513007762*Close[i+1]
+0.1142800493*Close[i+2]
+0.1699342860*Close[i+3]
+0.2025269304*Close[i+4]
+0.2025269304*Close[i+5]
+0.1699342860*Close[i+6]
+0.1142800493*Close[i+7]
+0.0513007762*Close[i+8]
-0.0025097319*Close[i+9]
-0.0353166244*Close[i+10]
-0.0433375629*Close[i+11]
-0.0311244617*Close[i+12]
-0.0088618137*Close[i+13]
+0.0120580088*Close[i+14]
+0.0233183633*Close[i+15]
+0.0221931304*Close[i+16]
+0.0115769653*Close[i+17]
-0.0022157966*Close[i+18]
-0.0126536111*Close[i+19]
-0.0157416029*Close[i+20]
-0.0113395830*Close[i+21]
-0.0025905610*Close[i+22]
+0.0059521459*Close[i+23]
+0.0105212252*Close[i+24]
+0.0096970755*Close[i+25]
+0.0046585685*Close[i+26]
-0.0017079230*Close[i+27]
-0.0063513565*Close[i+28]
-0.0074539350*Close[i+29]
-0.0050439973*Close[i+30]
-0.0007459678*Close[i+31]
+0.0032271474*Close[i+32]
+0.0051357867*Close[i+33]
+0.0044454862*Close[i+34]
+0.0018784961*Close[i+35]
-0.0011065767*Close[i+36]
-0.0031162862*Close[i+37]
-0.0033443253*Close[i+38]
-0.0022163335*Close[i+39]
+0.0002573669*Close[i+40]
+0.0003650790*Close[i+41]
+0.0060440751*Close[i+42]
+0.0018747783*Close[i+43];

value3 =
0.0982862174*Close[i+0]
+0.0975682269*Close[i+1]
+0.0961401078*Close[i+2]
+0.0940230544*Close[i+3]
+0.0912437090*Close[i+4]
+0.0878391006*Close[i+5]
+0.0838544303*Close[i+6]
+0.0793406350*Close[i+7]
+0.0743569346*Close[i+8]
+0.0689666682*Close[i+9]
+0.0632381578*Close[i+10]
+0.0572428925*Close[i+11]
+0.0510534242*Close[i+12]
+0.0447468229*Close[i+13]
+0.0383959950*Close[i+14]
+0.0320735368*Close[i+15]
+0.0258537721*Close[i+16]
+0.0198005183*Close[i+17]
+0.0139807863*Close[i+18]
+0.0084512448*Close[i+19]
+0.0032639979*Close[i+20]
-0.0015350359*Close[i+21]
-0.0059060082*Close[i+22]
-0.0098190256*Close[i+23]
-0.0132507215*Close[i+24]
-0.0161875265*Close[i+25]
-0.0186164872*Close[i+26]
-0.0205446727*Close[i+27]
-0.0219739146*Close[i+28]
-0.0229204861*Close[i+29]
-0.0234080863*Close[i+30]
-0.0234566315*Close[i+31]
-0.0231017777*Close[i+32]
-0.0223796900*Close[i+33]
-0.0213300463*Close[i+34]
-0.0199924534*Close[i+35]
-0.0184126992*Close[i+36]
-0.0166377699*Close[i+37]
-0.0147139428*Close[i+38]
-0.0126796776*Close[i+39]
-0.0105938331*Close[i+40]
-0.0084736770*Close[i+41]
-0.0063841850*Close[i+42]
-0.0043466731*Close[i+43]
-0.0023956944*Close[i+44]
-0.0005535180*Close[i+45]
+0.0011421469*Close[i+46]
+0.0026845693*Close[i+47]
+0.0040471369*Close[i+48]
+0.0052380201*Close[i+49]
+0.0062194591*Close[i+50]
+0.0070340085*Close[i+51]
+0.0076266453*Close[i+52]
+0.0080376628*Close[i+53]
+0.0083037666*Close[i+54]
+0.0083694798*Close[i+55]
+0.0082901022*Close[i+56]
+0.0080741359*Close[i+57]
+0.0077543820*Close[i+58]
+0.0073260526*Close[i+59]
+0.0068163569*Close[i+60]
+0.0062325477*Close[i+61]
+0.0056078229*Close[i+62]
+0.0049516078*Close[i+63]
+0.0161380976*Close[i+64];

value4 =
-0.0074151919*Close[i+0]
-0.0060698985*Close[i+1]
-0.0044979052*Close[i+2]
-0.0027054278*Close[i+3]
-0.0007031702*Close[i+4]
+0.0014951741*Close[i+5]
+0.0038713513*Close[i+6]
+0.0064043271*Close[i+7]
+0.0090702334*Close[i+8]
+0.0118431116*Close[i+9]
+0.0146922652*Close[i+10]
+0.0175884606*Close[i+11]
+0.0204976517*Close[i+12]
+0.0233865835*Close[i+13]
+0.0262218588*Close[i+14]
+0.0289681736*Close[i+15]
+0.0315922931*Close[i+16]
+0.0340614696*Close[i+17]
+0.0363444061*Close[i+18]
+0.0384120882*Close[i+19]
+0.0402373884*Close[i+20]
+0.0417969735*Close[i+21]
+0.0430701377*Close[i+22]
+0.0440399188*Close[i+23]
+0.0446941124*Close[i+24]
+0.0450230100*Close[i+25]
+0.0450230100*Close[i+26]
+0.0446941124*Close[i+27]
+0.0440399188*Close[i+28]
+0.0430701377*Close[i+29]
+0.0417969735*Close[i+30]
+0.0402373884*Close[i+31]
+0.0384120882*Close[i+32]
+0.0363444061*Close[i+33]
+0.0340614696*Close[i+34]
+0.0315922931*Close[i+35]
+0.0289681736*Close[i+36]
+0.0262218588*Close[i+37]
+0.0233865835*Close[i+38]
+0.0204976517*Close[i+39]
+0.0175884606*Close[i+40]
+0.0146922652*Close[i+41]
+0.0118431116*Close[i+42]
+0.0090702334*Close[i+43]
+0.0064043271*Close[i+44]
+0.0038713513*Close[i+45]
+0.0014951741*Close[i+46]
-0.0007031702*Close[i+47]
-0.0027054278*Close[i+48]
-0.0044979052*Close[i+49]
-0.0060698985*Close[i+50]
-0.0074151919*Close[i+51]
-0.0085278517*Close[i+52]
-0.0094111161*Close[i+53]
-0.0100658241*Close[i+54]
-0.0104994302*Close[i+55]
-0.0107227904*Close[i+56]
-0.0107450280*Close[i+57]
-0.0105824763*Close[i+58]
-0.0102517019*Close[i+59]
-0.0097708805*Close[i+60]
-0.0091581551*Close[i+61]
-0.0084345004*Close[i+62]
-0.0076214397*Close[i+63]
-0.0067401718*Close[i+64]
-0.0058083144*Close[i+65]
-0.0048528295*Close[i+66]
-0.0038816271*Close[i+67]
-0.0029244713*Close[i+68]
-0.0019911267*Close[i+69]
-0.0010974211*Close[i+70]
-0.0002535559*Close[i+71]
+0.0005231953*Close[i+72]
+0.0012297491*Close[i+73]
+0.0018539149*Close[i+74]
+0.0023994354*Close[i+75]
+0.0028490136*Close[i+76]
+0.0032221429*Close[i+77]
+0.0034936183*Close[i+78]
+0.0036818974*Close[i+79]
+0.0038037944*Close[i+80]
+0.0038338964*Close[i+81]
+0.0037975350*Close[i+82]
+0.0036986051*Close[i+83]
+0.0035521320*Close[i+84]
+0.0033559226*Close[i+85]
+0.0031224409*Close[i+86]
+0.0028550092*Close[i+87]
+0.0025688349*Close[i+88]
+0.0022682355*Close[i+89]
+0.0073925495*Close[i+90];

      STLMBuffer[i] = value3-value4;
      FTLMBuffer[i] = value1-value2;
            
      i--;
     }
   return(0);
  }
//+------------------------------------------------------------------+

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