ma-wpr
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This script is designed as a visual trading tool that helps smooth out market data to provide a clearer picture of price trends. Instead of showing you the raw, jagged movements of a market oscillator, it processes the data to create a more stable and readable trend line.
How it Works
The logic behind this tool relies on a two-step process:
1. Data Collection (The Wilsonochore Range) The script first looks at a specific market oscillator known as the Williams Percent Range (WPR). This oscillator is typically used to identify overbought or oversold conditions. By pulling this data, the script establishes a foundation of market momentum.
2. The Smoothing Process (Moving Average) Rather than plotting the WPR directly—which can often be "noisy" or fluctuate rapidly—the script applies a mathematical smoothing layer. It looks back at a specific number of previous data points (defined by your settings) and calculates their average.
By averaging these points, the tool "blurs" out minor price spikes and inconsistencies. The result is a much smoother blue line that reflects the underlying direction of the market movement.
Key Features for the User
- Visual Clarity: Because it uses a moving average calculation, the resulting line is easier to follow visually than standard oscillators, making it simpler to identify whether the general trend is moving up or down.
- Real-Time Feedback: The script is programmed to display the current calculated value directly on your chart as a comment, providing you with an instant numerical reading of the current trend strength.
- Customizable Sensitivity: You can adjust how much "smoothing" occurs by changing the period settings. A higher number will result in a smoother, slower-moving line, while a lower number will make the tool more responsive to quick price changes.
//+------------------------------------------------------------------+
//| tsf-2.mq4 |
//| Copyright © 2008, MOHAmad.Rahimi. |
//| http://a162.blogfa.com |
//+------------------------------------------------------------------+
#property copyright "Copyright © 2008, MOHAmad.Rahimi."
#property link "http://a162.blogfa.com"
//----
#property indicator_separate_window
#property indicator_buffers 1
#property indicator_color1 Blue
#property indicator_width1 2
//---- input parameters
extern int WPR=39;
extern int Moving=10;
//---- buffers
double ExtMapBuffer1[];
//+------------------------------------------------------------------+
//| Custom indicator initialization function |
//+------------------------------------------------------------------+
int init()
{
//---- indicators
SetIndexStyle(0,DRAW_LINE);
SetIndexBuffer(0,ExtMapBuffer1);
//----
return(0);
}
//+------------------------------------------------------------------+
//| Custom indicator deinitialization function |
//+------------------------------------------------------------------+
int deinit()
{
//----
//----
return(0);
}
//+------------------------------------------------------------------+
//| Custom indicator iteration function |
//+------------------------------------------------------------------+
int start()
{
int counted_bars=IndicatorCounted();
if (counted_bars<0) return(-1);
if (counted_bars>0) counted_bars--;
int limit=Bars-counted_bars;
double dif;
//----
while(limit>0)
{
double sum=0,ma= 0;
for(int j=0;j<Moving;j++)
{ sum=sum+ iWPR(NULL,0,WPR,limit+j);}
ma=sum/Moving;
//----
ExtMapBuffer1[limit]=ma;
Comment(ma);
limit--;
}
//----
return(0);
}
//+------------------------------------------------------------------+
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