MACD_CCI_mtf
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This tool is designed to assist traders by identifying potential market trends through the combination of two popular technical analysis indicators: the MACD (Moving Average Convergence Divergence) and the CCI (Commodity Channel Index).
Instead of just showing you lines on a graph, this script translates complex mathematical data into visual "signals" on your chart, helping to filter out market noise and highlight specific momentum shifts.
How the Logic Works
The script operates by looking at two different types of market information simultaneously:
- Trend Direction (MACD): The tool monitors the MACD, which tracks the relationship between two different moving averages. It looks for whether the current momentum is increasing or decreasing compared to the previous moment.
- Overbought/Oversold Context (CCI): The tool monitors the CCI, which measures how far the price is deviating from its average. This helps the script understand if the market is currently pushing in a positive direction (above zero) or a negative direction (below zero).
Signal Generation
The core logic of the script works by "cross-referencing" these two pieces of information to place specific markers on your chart:
- Bullish Momentum: When the CCI confirms that the market is in a positive zone and the MACD shows that upward momentum is strengthening, the script places a specific marker (indicated by the Royal Blue color).
- Bearish Momentum: When the CCI confirms the market is in a negative zone and the MACD shows that downward momentum is accelerating, the script places a different marker (indicated by the Red color).
- Neutral/Other States: If the conditions for the specific bullish or bearish trends are not met, the script places a third type of marker (indicated by the Orange color) to show neutral activity.
Key Features
- Multi-Timeframe Analysis: One of the most powerful aspects of this script is its ability to look at higher timeframes. For example, you can be looking at a 1-minute chart but have the script calculate signals based on the 15-minute or 1-hour trend. This ensures that your "local" trades are aligned with the "big picture" market move.
- Customizable Sensitivity: The settings allow you to adjust the speed and sensitivity of both the MACD and CCI components, making it adaptable to different trading styles (from fast scalping to slower swing trading).
- Visual Clarity: By using distinct colored arrows/markers rather than complex lines, the tool provides a clean visual summary, allowing you to see at a glance where the trend is shifting without having to manually interpret overlapping data.
Indicators Used
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MACD_CCI_mtf
//+------------------------------------------------------------------+
//| MACD_CCI.mq4 |
//| Copyright © 2009, challenger78 |
//+------------------------------------------------------------------+
//mod mtf
#property copyright "challenger78"
#property indicator_separate_window
#property indicator_buffers 3
#property indicator_color1 RoyalBlue
#property indicator_color2 Red
#property indicator_color3 Orange
#property indicator_minimum 0
#property indicator_maximum 77
extern int TimeFrame=0;
extern int macdMAfast =144; //12
extern int macdMAslow =233; //26;
extern int macdSigMA =21; //9
extern int macdPrice =0;
extern int macdLnMode =0;
extern int CCIperiod = 50;
extern int CCIprice = 5;
extern double BarLevl = 5;
//0main;1signal
extern string MA_Method_Price = "SMA0 EMA1 SMMA2 LWMA3||0O,1C 2H3L,4Md 5Tp 6WghC: Md(HL/2)4,Tp(HLC/3)5,Wgh(HLCC/4)6||macdLnMode:0main 1sig";
extern string TimeFrames = "M1;5,15,30,60H1;240H4;1440D1;10080W1;43200MN|0-CurrentTF";
double buffer1[], buffer2[], buffer3[];
int init()
{
SetIndexStyle(0,DRAW_ARROW); SetIndexArrow(0,167); SetIndexBuffer(0,buffer1); SetIndexEmptyValue(0,EMPTY_VALUE);
SetIndexStyle(1,DRAW_ARROW); SetIndexArrow(1,167); SetIndexBuffer(1,buffer2); SetIndexEmptyValue(1,EMPTY_VALUE);
SetIndexStyle(2,DRAW_ARROW); SetIndexArrow(2,167); SetIndexBuffer(2,buffer3); SetIndexEmptyValue(2,EMPTY_VALUE);
TimeFrame=MathMax(TimeFrame,Period());
string name1= " macd: "+macdMAfast+","+macdMAslow+","+macdSigMA;
string name2= " cci: " +CCIperiod;
IndicatorShortName("MACDCCI"+name1+name2+" "+TimeFrame);
return(0);
}
int start()
{
int i,limit;
int counted_bars = IndicatorCounted();
if(counted_bars < 0) return(-1);
if(counted_bars > 0) counted_bars--;
limit = Bars - counted_bars;
if(TimeFrame!=Period())
limit = MathMax(limit,TimeFrame/Period());
for (i=limit; i>= 0; i--)
{
int y =iBarShift(NULL,TimeFrame,Time[i]);
double macd0 =iMACD(NULL,TimeFrame,macdMAfast,macdMAslow,macdSigMA,macdPrice,macdLnMode,y);
double macd1 =iMACD(NULL,TimeFrame,macdMAfast,macdMAslow,macdSigMA,macdPrice,macdLnMode,y+1);
double cci =iCCI (NULL,TimeFrame,CCIperiod,CCIprice,y);
buffer1[i]=EMPTY_VALUE; buffer2[i]=EMPTY_VALUE; buffer3[i]=EMPTY_VALUE;
if (cci > 0 && macd0 > macd1 ) buffer1[i] = BarLevl;
else
if (cci < 0 && macd0 < macd1 ) buffer2[i] = BarLevl;
else buffer3[i] = BarLevl;
}
return(0);
}
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