Lswpr_Angle
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This tool is designed to help traders visualize the momentum and direction of an Exponential Moving Average (EMA) by calculating its "angle" or steepness. Instead of simply looking at the price, this script analyzes how quickly the moving average is rising or falling over a specific period.
How it Works
The core logic focuses on identifying whether the market is trending strongly, moving sideways (neutral), or reversing direction. It achieves this through three main steps:
1. Measurement of Slope The script looks at two different points on the EMA: a starting point (further back in time) and an ending point (closer to the current price). By comparing the difference between these two values, it determines the slope of the line. If the difference is large, the angle is steep; if the difference is small, the angle is flat.
2. Sensitivity Adjustments To ensure the tool works accurately across different types of currency pairs (like those involving the Japanese Yen), the script includes an automatic scaling factor. This adjusts the "weight" of the calculation so that the visual results remain consistent regardless of the asset being traded.
3. Visual Categorization (Color Coding) The script translates these mathematical calculations into a color-coded histogram for easy reading:
- Green: Indicates a strong upward trend (the angle is positively steep).
- Red: Indicates a strong downward trend (the angle is negatively steep).
- Yellow: Indicates a "near-zero" angle. This occurs when the movement is too flat to be considered a clear trend, signaling that the market may be consolidating or moving sideways.
Summary for the User
Essentially, this indicator acts as a filter for price action. It helps you stay out of "choppy" markets by highlighting zones where the EMA is flat (Yellow) and provides a clearer signal of conviction when the EMA shifts into a strong upward or downward angle (Green and Red).
//+------------------------------------------------------------------+
//| EMA_Angle.mq4 |
//| jpkfox |
//| |
//| You can use this indicator to measure when the EMA angle is |
//| "near zero". AngleTreshold determines when the angle for the |
//| EMA is "about zero": This is when the value is between |
//| [-AngleTreshold, AngleTreshold] (or when the histogram is red). |
//| EMAPeriod: EMA period |
//| AngleTreshold: The angle value is "about zero" when it is |
//| between the values [-AngleTreshold, AngleTreshold]. |
//| StartEMAShift: The starting point to calculate the |
//| angle. This is a shift value to the left from the |
//| observation point. Should be StartEMAShift > EndEMAShift. |
//| StartEMAShift: The ending point to calculate the |
//| angle. This is a shift value to the left from the |
//| observation point. Should be StartEMAShift > EndEMAShift. |
//| |
//| Modified by MrPip |
//| Red for down |
//| Yellow for near zero |
//| Green for up |
//| 10/15/05 MrPip |
//| Corrected problem with USDJPY and optimized code |
//| 10/23/05 Added other JPY crosses |
//| |
//+------------------------------------------------------------------+
#property copyright "jpkfox"
#property link "http://www.strategybuilderfx.com/forums/showthread.php?t=15274&page=1&pp=8"
//---- indicator settings
#property indicator_separate_window
#property indicator_buffers 3
#property indicator_color1 LimeGreen
#property indicator_color2 Yellow
#property indicator_color3 FireBrick
//---- indicator parameters
extern int lswprPeriod=14;
extern double AngleTreshold=0.1;
extern int StartEMAShift=6;
extern int EndEMAShift=0;
//---- indicator buffers
double UpBuffer[];
double DownBuffer[];
double ZeroBuffer[];
//+------------------------------------------------------------------+
//| Custom indicator initialization function |
//+------------------------------------------------------------------+
int init()
{
//---- 2 additional buffers are used for counting.
IndicatorBuffers(3);
//---- drawing settings
SetIndexStyle(0,DRAW_HISTOGRAM,STYLE_SOLID,2);
SetIndexStyle(1,DRAW_HISTOGRAM,STYLE_SOLID,2);
SetIndexStyle(2,DRAW_HISTOGRAM,STYLE_SOLID,2);
IndicatorDigits(MarketInfo(Symbol(),MODE_DIGITS)+2);
//---- 3 indicator buffers mapping
if(!SetIndexBuffer(0,UpBuffer) &&
!SetIndexBuffer(1,DownBuffer) &&
!SetIndexBuffer(2,ZeroBuffer))
Print("cannot set indicator buffers!");
//---- name for DataWindow and indicator subwindow label
IndicatorShortName("LSWPR_Angle("+lswprPeriod+","+AngleTreshold+","+StartEMAShift+","+EndEMAShift+")");
//---- initialization done
return(0);
}
//+------------------------------------------------------------------+
//| The angle for EMA |
//+------------------------------------------------------------------+
int start()
{
double fEndMA, fStartMA;
double fAngle, mFactor, dFactor;
int nLimit, i;
int nCountedBars;
double angle;
int ShiftDif;
string Sym;
if(EndEMAShift >= StartEMAShift)
{
Print("Error: EndEMAShift >= StartEMAShift");
StartEMAShift = 6;
EndEMAShift = 0;
}
nCountedBars = IndicatorCounted();
//---- check for possible errors
if(nCountedBars<0)
return(-1);
//---- last counted bar will be recounted
if(nCountedBars>0)
nCountedBars--;
nLimit = Bars-nCountedBars;
dFactor = 2*3.14159/180.0;
mFactor = 10000.0;
Sym = StringSubstr(Symbol(),3,3);
if (Sym == "JPY") mFactor = 100.0;
ShiftDif = StartEMAShift-EndEMAShift;
mFactor /= ShiftDif;
//---- main loop
for(i=0; i<nLimit; i++)
{
fEndMA=iCustom(NULL,0,"LSwpr_in_color",lswprPeriod,0,i+EndEMAShift);
fStartMA=iCustom(NULL,0,"LSwpr_in_color",lswprPeriod,0,i+StartEMAShift);
// 10000.0 : Multiply by 10000 so that the fAngle is not too small
// for the indicator Window.
fAngle = mFactor * (fEndMA - fStartMA)/2.0;
// fAngle = MathArctan(fAngle)/dFactor;
DownBuffer[i] = 0.0;
UpBuffer[i] = 0.0;
ZeroBuffer[i] = 0.0;
if(fAngle > AngleTreshold)
{
UpBuffer[i] = fAngle;
}
else if (fAngle < -AngleTreshold)
{
DownBuffer[i] = fAngle;
}
else ZeroBuffer[i] = fAngle;
}
return(0);
}
//+------------------------------------------------------------------+
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