HMA_Color_v02b_v1
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This tool is designed to provide traders with a sophisticated moving average indicator known as the Hull Moving Average (HMA). Its primary purpose is to track price trends more smoothly and accurately than standard moving averages by reducing "lag"—the delay between a price movement occurring and the indicator reflecting that change.
Core Logic and Functionality
The script operates through a multi-step mathematical process to balance responsiveness with stability:
- Dual Weighting System: Instead of looking at the price in a simple linear fashion, the logic calculates two separate moving averages simultaneously—one based on half of the user-defined period and another based on the full period.
- Weighted Difference: The script then takes these two averages, doubles the smaller one, and subtracts the larger one from it. This specific mathematical combination helps highlight the momentum of the price more aggressively.
- Smoothing Pass: To ensure the resulting line isn't too "jittery" or erratic, the script applies a final smoothing pass based on the square root of the total period. This provides a curved, fluid line that follows the trend closely.
Visual Representation and Signals
The script is designed to be visually intuitive for a trader by using color changes to signal shifts in market momentum:
- Trend Tracking: The indicator produces a continuous line on your chart. As the price moves, this line curves to follow the path of least resistance.
- Directional Changes: The logic specifically monitors whether the current value of the moving average is higher or lower than the previous value.
- Color Coding: Based on these directional shifts, the script automatically changes the line color (utilizing Lime Green, Yellow, and Red). This allows you to identify instantly whether the momentum is currently bullish (moving up), bearish (moving down), or neutral (sideways) without having to manually interpret complex price fluctuations.
Summary for the User
In simple terms, this script takes raw market data and filters out the "noise." It provides you with a smooth, color-coded line that tells you the current direction of the trend in real-time, allowing for quicker identification of momentum shifts while maintaining a steady, non-confused visual output.
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HMA_Color_v02b_v1
/*-----------------------------+
| |
| Shared by www.Aptrafx.com |
| |
+------------------------------*/
//+----------------+
//| HMA.mq4 by Ron|
//+----------------+
/*
MetaStock Formula
period:=Input("Period",1,200,20) ;
sqrtperiod:=Input("Square Root of Period",1,20,4);
Mov(2*(Mov(C,period/2,W))-Mov(C,period,W),sqrtperiod,W);
SuperCharts Formula
Input: period (Default value 20)
waverage(2*waverage(close,period/2)-waverage(close,period), SquareRoot(Period))
Added color on direction change
*/
#property copyright "Ron Thompson"
#property link "http://www.metaquotes.net/"
//---- indicator settings
#property indicator_chart_window
#property indicator_buffers 3
#property indicator_color1 LimeGreen
#property indicator_color2 Yellow
#property indicator_color3 Red
//User input
extern int HMA_Period=14;
//---- indicator buffers
double ind_buffer0[];
double ind_buffer1[];
double ind_buffer2[];
double buffer[];
int draw_begin0;
//Custom init
int init()
{
//---- indicator buffers mapping
IndicatorBuffers(4);
if( !SetIndexBuffer(0,ind_buffer0)
&& !SetIndexBuffer(1,ind_buffer1)
&& !SetIndexBuffer(2,ind_buffer2)
&& !SetIndexBuffer(3, buffer))
Print("cannot set indicator buffers!");
// ArraySetAsSeries(ind_buffer1,true);
//---- drawing settings
SetIndexStyle(0,DRAW_LINE,STYLE_SOLID,2);
SetIndexStyle(1,DRAW_LINE,STYLE_SOLID,2);
SetIndexStyle(2,DRAW_LINE,STYLE_SOLID,2);
draw_begin0=HMA_Period+MathFloor(MathSqrt(HMA_Period));
SetIndexDrawBegin(0,draw_begin0);
SetIndexDrawBegin(1,draw_begin0);
SetIndexDrawBegin(2,draw_begin0);
IndicatorDigits(MarketInfo(Symbol(),MODE_DIGITS)+1);
//---- name for DataWindow and indicator subwindow label
IndicatorShortName("HMA("+HMA_Period+")");
SetIndexLabel(0,"Hull Moving Average");
}
// Main Program loop
int start()
{
int limit,i;
int counted_bars=IndicatorCounted();
double tmp, tmpPrevious;
double fullMA;
double halfMA;
int fullPeriod = HMA_Period;
int halfPeriod = HMA_Period/2;
int sqrtPeriod = MathFloor(MathSqrt(HMA_Period*1.00));
//---- check for possible errors
if(counted_bars<1)
{
for(i=1;i<=draw_begin0;i++)
{
buffer[Bars-i]=0;
}
for(i=1;i<=fullPeriod;i++)
{
ind_buffer0[Bars-i]=0;
ind_buffer1[Bars-i]=0;
ind_buffer2[Bars-i]=0;
}
}// if counted
//---- last counted bar will be recounted
if(counted_bars>0)
{
counted_bars--;
}
limit=Bars-counted_bars;
//---- MA difference counted in the 1-st buffer
for(i=0; i<limit; i++)
{
halfMA=iMA(NULL,0,halfPeriod,0,MODE_LWMA,PRICE_OPEN,i)*2;
fullMA=iMA(NULL,0,fullPeriod,0,MODE_LWMA,PRICE_OPEN,i);
buffer[i]=halfMA-fullMA;
}
//---- HMA counted in the 0-th buffer
tmp=iMAOnArray(buffer,0,MathFloor(MathSqrt(HMA_Period)),0,MODE_LWMA,0);
for(i=1; i<limit; i++)
{
tmpPrevious=iMAOnArray(buffer,0,MathFloor(MathSqrt(HMA_Period)),0,MODE_LWMA,i);
if (tmpPrevious > tmp)
{
ind_buffer0[i] = EMPTY_VALUE;
ind_buffer1[i] = EMPTY_VALUE;
ind_buffer2[i] = tmpPrevious;
ind_buffer2[i-1] = tmp; // !
}
else if (tmpPrevious < tmp)
{
ind_buffer0[i] = tmpPrevious;
ind_buffer0[i-1] = tmp; // !
ind_buffer1[i] = EMPTY_VALUE;
ind_buffer2[i] = EMPTY_VALUE;
}
else
{
ind_buffer0[i] = CLR_NONE;
ind_buffer1[i] = tmpPrevious;
ind_buffer2[i-1] = tmp; // !
ind_buffer2[i] = CLR_NONE;
}
tmp = tmpPrevious;
}//for
}
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