FX-BAR
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The FX-BAR indicator is designed to provide a visual representation of price momentum by analyzing the relationship between current market prices and their historical moving averages. It operates by identifying trends and displaying them through a distinct histogram format, helping traders distinguish between upward and downward movements.
Core Logic Overview
The indicator functions by performing three primary types of calculations:
1. Price Deviation Analysis The tool starts by calculating the distance between two key price points:
- It looks at the high price of a candle and compares it against a Smoothed Moving Average (SMMA).
- Simultaneously, it looks at the low price of a candle and compares it against that same moving average. This creates a raw "gap" value that represents how far the market is stretching away from its average trend.
2. Trend Directional Logic Rather than just showing raw numbers, the script processes these deviations to determine the direction of the momentum. It tracks whether the current deviation is increasing or decreasing compared to the previous candle.
- If the value is rising, it classifies the movement as "Up."
- If the value is falling, it classifies the movement as "Down."
3. Visual Histogram Representation The final output is organized into a series of visual bars (histograms) on a separate window below your main price chart. The logic splits the data into two distinct visual sets:
- One set of bars represents upward momentum.
- The other set of bars represents downward momentum.
By isolating these movements, the indicator provides a cleaner visual field where "upward" pushes and "downward" pulls are clearly separated from one another. This allows users to see the strength of the current trend at a glance, as the size and direction of the histograms change based on how aggressively the price is moving relative to its average.
//+------------------------------------------------------------------+
//| FX-BAR.mq4 |
//| Copyright © 2005, MetaQuotes Software Corp. |
//| http://www.metaquotes.net/ |
//+------------------------------------------------------------------+
#property copyright "Copyright © 2005, MetaQuotes Software Corp."
#property link "http://www.metaquotes.net/"
//---- indicator settings
#property indicator_separate_window
#property indicator_buffers 6
#property indicator_color1 Black
#property indicator_color2 Gold
#property indicator_color3 Red
#property indicator_color4 Black
#property indicator_color5 Gold
#property indicator_color6 Red
//---- indicator buffers
double ExtBuffer0[];
double ExtBuffer1[];
double ExtBuffer2[];
double ExtBuffer3[];
double ExtBuffer4[];
double ExtBuffer5[];
//+------------------------------------------------------------------+
//| Custom indicator initialization function |
//+------------------------------------------------------------------+
int init()
{
//---- drawing settings
SetIndexStyle(0,DRAW_NONE);
SetIndexStyle(1,DRAW_HISTOGRAM);
SetIndexStyle(2,DRAW_HISTOGRAM);
SetIndexStyle(3,DRAW_NONE);
SetIndexStyle(4,DRAW_HISTOGRAM);
SetIndexStyle(5,DRAW_HISTOGRAM);
IndicatorDigits(Digits+1);
SetIndexDrawBegin(0,34);
SetIndexDrawBegin(1,34);
SetIndexDrawBegin(2,34);
SetIndexDrawBegin(3,34);
SetIndexDrawBegin(4,34);
SetIndexDrawBegin(5,34);
//---- 3 indicator buffers mapping
SetIndexBuffer(0,ExtBuffer0);
SetIndexBuffer(1,ExtBuffer1);
SetIndexBuffer(2,ExtBuffer2);
SetIndexBuffer(3,ExtBuffer3);
SetIndexBuffer(4,ExtBuffer4);
SetIndexBuffer(5,ExtBuffer5);
//---- name for DataWindow and indicator subwindow label
IndicatorShortName("FX-BAR");
SetIndexLabel(1,NULL);
SetIndexLabel(2,NULL);
SetIndexLabel(4,NULL);
SetIndexLabel(5,NULL);
//---- initialization done
return(0);
}
//+------------------------------------------------------------------+
//| Awesome Oscillator |
//+------------------------------------------------------------------+
int start()
{
int limit;
int counted_bars=IndicatorCounted();
double prev,current;
int limit2;
int counted_bars2=IndicatorCounted();
double prev2,current2;
//---- last counted bar will be recounted
if(counted_bars>0) counted_bars--;
limit=Bars-counted_bars;
if(counted_bars2>0) counted_bars2--;
limit2=Bars-counted_bars2;
//---- macd
for(int i=0; i<limit; i++)
ExtBuffer0[i] = iHigh(NULL,0,i)-iMA(NULL,0,8,5,MODE_SMMA,PRICE_MEDIAN,i);
for(int n=0; n<limit2; n++)
ExtBuffer3[n]=iLow(NULL,0,n)-iMA(NULL,0,8,5,MODE_SMMA,PRICE_MEDIAN,n);
//---- dispatch values between 2 buffers
bool up=true;
for(i=limit-1; i>=0; i--)
{
if (ExtBuffer0[i]>=0){
current=ExtBuffer0[i];
prev=ExtBuffer0[i+1];
}
if (ExtBuffer0[i]<0){
ExtBuffer0[i]=0;
current=ExtBuffer0[i];
prev=ExtBuffer0[i+1];
}
if(current>prev) up=true;
if(current<prev) up=false;
if(!up)
{
ExtBuffer2[i]=current;
ExtBuffer1[i]=0.0;
}
else
{
ExtBuffer1[i]=current;
ExtBuffer2[i]=0.0;
}
}
bool up2=true;
for(n=limit2-1; n>=0; n--)
{
if (ExtBuffer3[n]<=0){
current2=ExtBuffer3[n];
prev2=ExtBuffer3[n+1];
}
if (ExtBuffer3[n]>0){
ExtBuffer3[n]=0;
current2=ExtBuffer3[n];
prev2=ExtBuffer3[n+1];
}
if(current2>prev2) up2=true;
if(current2<prev2) up2=false;
if(!up2)
{
ExtBuffer5[n]=current2;
ExtBuffer4[n]=0.0;
}
else
{
ExtBuffer4[n]=current2;
ExtBuffer5[n]=0.0;
}
}
//---- done
return(0);
}
//+------------------------------------------------------------------+
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