Heiken_Ashi_SWAlert LC
Download script
This tool is designed to simplify market analysis by identifying and highlighting trend shifts using Heiken Ashi logic. Instead of looking at raw, volatile price movements, the script processes data to create a smoother representation of the market’s direction.
Core Functionality
The script operates by transforming standard price data (Open, High, Low, and Close) into a customized calculation. This calculation smooths out the "noise" of the market, making it easier to see the prevailing trend. It specifically focuses on identifying whether the momentum is moving upward or downward based on the relationship between these smoothed prices.
How it Works
The logic follows a step-by-step process to monitor the market:
- Trend Identification: The script continuously compares current price movements against previous data. It determines if the market is in an "Up Trend" (where closing prices are higher than opening prices) or a "Down Trend."
- Visual Indicators: To help you see these changes clearly, the tool uses a histogram format in a separate window. It maps these trends using specific color signals:
- One signal indicates a strong upward move.
- The other signal indicates a strong downward move.
- Dynamic Alerts: The script is programmed to recognize the exact moment the trend flips (e.g., moving from a confirmed downward trend into an upward trend). When this transition occurs, and provided there is sufficient trading volume, the tool can trigger several types of notifications:
- Visual Alerts: A pop-up message on your screen providing a "BUY" or "SELL" signal.
- Audio Alerts: An audible sound notification to grab your attention immediately.
Summary for the User
Essentially, this tool acts as a trend filter. It strips away minor price fluctuations and focuses on the primary direction of the market. By notifying you only when the momentum officially switches from one direction to another, it helps traders stay aligned with the broader market move rather than getting caught up in temporary price spikes.
Miscellaneous
15
Views
0
Downloads
0
Favorites
Heiken_Ashi_SWAlert LC
//+------------------------------------------------------------------+
//| Heiken Ashi_SWAlert.mq4 |
//| Copyright © 2004, MetaQuotes Software Corp. |
//| http://www.metaquotes.net |
//| Modififed by Igorad for display in separate window |
//| "http://www.forex-tsd.com/"|
//+------------------------------------------------------------------+
//| For Heiken Ashi we recommend next chart settings ( press F8 or |
//| select on menu 'Charts'->'Properties...'): |
//| - On 'Color' Tab select 'Black' for 'Line Graph' |
//| - On 'Common' Tab disable 'Chart on Foreground' checkbox and |
//| select 'Line Chart' radiobutton |
//+------------------------------------------------------------------+
#property copyright "Copyright © 2004, MetaQuotes Software Corp."
#property link "http://www.metaquotes.net"
#property indicator_separate_window
#property indicator_buffers 2
#property indicator_color1 Red
#property indicator_width1 3
#property indicator_color2 Blue
#property indicator_width2 3
#property indicator_maximum 1.05
#property indicator_minimum -0.05
//#property indicator_color3 Red/
//#property indicator_color4 White
//---- buffers
extern int SoundAlertMode = 0;
double ExtMapBuffer1[];
double ExtMapBuffer2[];
double ExtMapBuffer3[];
double ExtMapBuffer4[];
double trend[];
//----
int ExtCountedBars=0;
bool UpTrendAlert=false, DownTrendAlert=false;
//+------------------------------------------------------------------+
//| Custom indicator initialization function |
//|------------------------------------------------------------------|
int init()
{
//---- indicators
IndicatorBuffers(5);
SetIndexStyle(0,DRAW_HISTOGRAM);
SetIndexBuffer(0, ExtMapBuffer1);
SetIndexStyle(1,DRAW_HISTOGRAM);
SetIndexBuffer(1, ExtMapBuffer2);
// SetIndexStyle(2,DRAW_HISTOGRAM, 0, 3, Red);
SetIndexBuffer(2, ExtMapBuffer3);
// SetIndexStyle(3,DRAW_HISTOGRAM, 0, 3, White);
SetIndexBuffer(3, ExtMapBuffer4);
SetIndexBuffer(4,trend);
//----
SetIndexDrawBegin(0,10);
SetIndexDrawBegin(1,10);
//SetIndexDrawBegin(2,10);
//SetIndexDrawBegin(3,10);
//---- indicator buffers mapping
//SetIndexBuffer(0,ExtMapBuffer1);
//SetIndexBuffer(1,ExtMapBuffer2);
//SetIndexBuffer(2,ExtMapBuffer3);
//SetIndexBuffer(3,ExtMapBuffer4);
//---- initialization done
return(0);
}
//+------------------------------------------------------------------+
//| Custor indicator deinitialization function |
//+------------------------------------------------------------------+
int deinit()
{
//---- TODO: add your code here
//----
return(0);
}
//+------------------------------------------------------------------+
//| Custom indicator iteration function |
//+------------------------------------------------------------------+
int start()
{
double haOpen, haHigh, haLow, haClose;
if(Bars<=10) return(0);
ExtCountedBars=IndicatorCounted();
//---- check for possible errors
if (ExtCountedBars<0) return(-1);
//---- last counted bar will be recounted
if (ExtCountedBars>0) ExtCountedBars--;
int pos=Bars-ExtCountedBars-1;
while(pos>=0)
{
haOpen=(ExtMapBuffer3[pos+1]+ExtMapBuffer4[pos+1])/2;
haClose=(Open[pos]+High[pos]+Low[pos]+Close[pos])/4;
haHigh=MathMax(High[pos], MathMax(haOpen, haClose));
haLow=MathMin(Low[pos], MathMin(haOpen, haClose));
trend[pos]=trend[pos+1];
if (haOpen<haClose)
{
trend[pos]=1;
ExtMapBuffer1[pos]=0;
ExtMapBuffer2[pos]=1;
if (SoundAlertMode>0 && pos==0 && trend[1]<0) PlaySound("alert2.wav");
}
else
{
trend[pos]=-1;
ExtMapBuffer1[pos]=1;
ExtMapBuffer2[pos]=0;
if (SoundAlertMode>0 && pos==0 && trend[1]>0) PlaySound("alert2.wav");
}
ExtMapBuffer3[pos]=haOpen;
ExtMapBuffer4[pos]=haClose;
pos--;
}
//----------
string Message;
if ( trend[2]<0 && trend[1]>0 && Volume[0]>1 && !UpTrendAlert)
{
Message = " "+Symbol()+" M"+Period()+": Signal for BUY";
if ( SoundAlertMode>0 ) Alert (Message);
UpTrendAlert=true; DownTrendAlert=false;
}
if ( trend[2]>0 && trend[1]<0 && Volume[0]>1 && !DownTrendAlert)
{
Message = " "+Symbol()+" M"+Period()+": Signal for SELL";
if ( SoundAlertMode>0 ) Alert (Message);
DownTrendAlert=true; UpTrendAlert=false;
}
//----
return(0);
}
//+------------------------------------------------------------------+
Comments