MFCS 4TF MACD SLOPE #2_002

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Author: Copyright � 2009, MFCS
MFCS 4TF MACD SLOPE #2_002

This script is designed as a multi-timeframe visual tool for traders who want to see the momentum of the market across several different time horizons simultaneously. Instead of looking at just one chart, it allows you to observe whether price trends are aligning across multiple "layers" of time.

Core Functionality

The indicator focuses on the MACD (Moving Average Convergence Divergence), which is a popular momentum oscillator. Specifically, this script analyzes the "slope" or direction of that momentum. It identifies whether the MACD value is currently moving up or down by comparing its current position to its previous position.

Key Features and Logic

1. Multi-Timeframe Analysis The script doesn't just look at your current chart. It automatically calculates data for four different timeframes at once. Depending on which chart you are viewing, it intelligently selects a sequence of logical timeframes (e.g., if you are on a 1-minute chart, it might track the 1m, 5m, 15m, and 30m trends simultaneously).

2. Visual Representation (Arrows) To make the data easy to read at a glance, the script uses a series of colored arrows:

  • Upward Momentum: Represented by arrows in one color (Dodger Blue).
  • Downward Momentum: Represented by arrows in another color (Orange Red).

These arrows are stacked vertically in a separate window below your main price chart, allowing you to see the "health" of the market across all four selected timeframes in one glance.

3. Dynamic Scaling and Modes The script includes two distinct operating modes:

  • Default Mode: Ideal for lower timeframes, providing a granular look at short-term price action.
  • Higher Timeframe Mode: Adjusted for larger timeframes (like Daily or Weekly charts) to ensure the multi-timeframe data remains relevant and visually organized.

4. Automatic Labeling To ensure you don't get confused about which row of arrows corresponds to which timeframe, the script automatically generates text labels. These labels display the specific timeframe names (such as M15, H1, etc.) next to their respective rows of data.

Summary for the Trader

Essentially, this tool acts as a "trend compass." By looking at the visual rows provided by the script, a trader can quickly determine if multiple timeframes are in agreement. For example, if all four rows show "Up" arrows, it suggests strong bullish alignment across various periods; if they are mixed, it indicates a complex or indecisive market environment.

Indicators Used
MACD Histogram
Miscellaneous
Implements a curve of type %1
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MFCS 4TF MACD SLOPE #2_002 
//+------------------------------------------------------------------+
//|                                          MFCS 4TF MACD SLOPE.mq4 |
//|                                           Copyright © 2009, MFCS |
//|                                     http://www.mpatidar.com/mfcs |
//+------------------------------------------------------------------+
#property copyright "Copyright © 2009, MFCS"
#property link      "http://www.mpatidar.com/mfcs"


#property indicator_separate_window
#property indicator_minimum 0
#property indicator_maximum 5
#property indicator_buffers 8

/*
#property indicator_color1 OrangeRed
#property indicator_color2 DodgerBlue
#property indicator_color3 OrangeRed
#property indicator_color4 DodgerBlue
#property indicator_color5 OrangeRed
#property indicator_color6 DodgerBlue
#property indicator_color7 OrangeRed
#property indicator_color8 DodgerBlue
*/

//---- parameters
extern int price = PRICE_CLOSE;
extern int MaFastPeriod  = 12;
extern int MaSlowPeriod  = 26;

/*
Mode 0: Default, lower timeframes
Mode 1: Higher TimeFrames
*/
extern int mode = 0;

extern int BarWidth = 0;

extern color BarColorUp = DodgerBlue;
extern color BarColorDown = OrangeRed;
extern color TextColor = White;
extern int MaxBars=500;

double Gap = 1; // Gap between the lines of bars
//---- buffers
double buf4_up[];
double buf4_down[];
double buf3_up[];
double buf3_down[];
double buf2_up[];
double buf2_down[];
double buf1_up[];
double buf1_down[];

double macd0;
double macd1;

string shortname = "";


extern int ArrSize = 110;//110;
int UniqueNum = 20565;
int Period_1, Period_2, Period_3, Period_4;

//+------------------------------------------------------------------+
//| Custom indicator initialization function                         |
//+------------------------------------------------------------------+
int init()
  {
  
  
   SetIndexStyle(0,DRAW_ARROW,0,BarWidth,BarColorUp);
   SetIndexArrow(0,ArrSize);
   SetIndexBuffer(0,buf1_up);
   SetIndexEmptyValue(0,0.0);
   SetIndexStyle(1,DRAW_ARROW,0,BarWidth,BarColorDown);
   SetIndexArrow(1,ArrSize);
   SetIndexBuffer(1,buf1_down);
   SetIndexEmptyValue(1,0.0);
   SetIndexStyle(2,DRAW_ARROW,0,BarWidth,BarColorUp);
   SetIndexArrow(2,ArrSize);
   SetIndexBuffer(2,buf2_up);
   SetIndexEmptyValue(2,0.0);
   SetIndexStyle(3,DRAW_ARROW,0,BarWidth,BarColorDown);
   SetIndexArrow(3,ArrSize);
   SetIndexBuffer(3,buf2_down);
   SetIndexEmptyValue(3,0.0);
   SetIndexStyle(4,DRAW_ARROW,0,BarWidth,BarColorUp);
   SetIndexArrow(4,ArrSize);
   SetIndexBuffer(4,buf3_up);
   SetIndexEmptyValue(4,0.0);
   SetIndexStyle(5,DRAW_ARROW,0,BarWidth,BarColorDown);
   SetIndexArrow(5,ArrSize);
   SetIndexBuffer(5,buf3_down);
   SetIndexEmptyValue(5,0.0);
   SetIndexStyle(6,DRAW_ARROW,0,BarWidth,BarColorUp);
   SetIndexArrow(6,ArrSize);
   SetIndexBuffer(6,buf4_up);
   SetIndexEmptyValue(6,0.0);
   SetIndexStyle(7,DRAW_ARROW,0,BarWidth,BarColorDown);
   SetIndexArrow(7,ArrSize);
   SetIndexBuffer(7,buf4_down);
   SetIndexEmptyValue(7,0.0);
   
   if(mode == 0)
   {
      SetIndexLabel(0, "T1");
      SetIndexLabel(1,"T1");
      SetIndexLabel(2,"T2");
      SetIndexLabel(3,"T2");
      SetIndexLabel(4,"T3");
      SetIndexLabel(5,"T3");
      SetIndexLabel(6,"T4");
      SetIndexLabel(7,"T4");
   }
   else
   {
      SetIndexLabel(0, "T5");
      SetIndexLabel(1,"T5");
      SetIndexLabel(2,"T6");
      SetIndexLabel(3,"T6");
      SetIndexLabel(4,"T7");
      SetIndexLabel(5,"T7");
      SetIndexLabel(6,"T8");
      SetIndexLabel(7,"T8");

   }
   IndicatorDigits(0);
   getPeriod();
   
   shortname = "MFCS 4TF/8TF-MACD Slope ("+ tf2txt(Period_1)+", "+tf2txt(Period_2)+", "+tf2txt(Period_3)+", "+tf2txt(Period_4)+")";
   IndicatorShortName(shortname);
   
   
//----
   return(0);
  }
//+------------------------------------------------------------------+
//| Custom indicator deinitialization function                       |
//+------------------------------------------------------------------+
int deinit()
  {

   return(0);
  }
//+------------------------------------------------------------------+
//| Custom indicator iteration function                              |
//+------------------------------------------------------------------+




int start()
  {
   
   int counted_bars=IndicatorCounted();
   //---- check for possible errors
   if(counted_bars<0) return(-1);
   //---- the last counted bar will be recounted
   
   if(counted_bars>0) 
   {
      //counted_bars -= Period_4 / Period();      
      counted_bars--;
   }
   
   int limit=Bars-counted_bars;
   int i,tf;

   
   //-------------------------------1----------------------------------------   
   double dif = Time[0] - Time[1];
   for ( i=ObjectsTotal()-1; i>-1; i--)
      {
         if (StringFind(ObjectName(i),"FF2_"+UniqueNum + "_" + mode +"_") >= 0)  ObjectDelete(ObjectName(i));
      }
      
   for ( tf=1; tf<=4; tf++)
      {  
         string txt = "??";
         double gp;
         switch (tf)
         {
            case 1: txt = tf2txt(Period_1);  gp = 1 + mode * 4; break;
            case 2: txt = tf2txt(Period_2);  gp = 1 + Gap + mode * 4; break;
            case 3: txt = tf2txt(Period_3);  gp = 1 + Gap*2 + mode * 4; break;
            case 4: txt = tf2txt(Period_4);  gp = 1 + Gap*3 + mode * 4; break;
         }
         string name = "FF2_"+UniqueNum + "_" + mode +"_"+tf+"_"+txt;
         ObjectCreate(name, OBJ_TEXT, WindowOnDropped(), iTime(NULL,0,0)+dif*3, gp + 0.7);
         ObjectSetText(name, txt,8,"Verdana", TextColor);
      }
   
   
   
   //-------------------------------2----------------------------------------
   datetime TimeArray_4[], TimeArray_3[], TimeArray_2[], TimeArray_1[];
   ArrayCopySeries(TimeArray_1,MODE_TIME,Symbol(),Period_1);
   ArrayCopySeries(TimeArray_2,MODE_TIME,Symbol(),Period_2);
   ArrayCopySeries(TimeArray_3,MODE_TIME,Symbol(),Period_3); 
   ArrayCopySeries(TimeArray_4,MODE_TIME,Symbol(),Period_4);
   
   int  i1=0, i2=0, i3=0, i4=0, yy;

  // for(i=0, i1=0,  i2=0,  i3=0,  i4=0;i<MaxBars;i++)
   for(i=0, i1=0,  i2=0,  i3=0,  i4=0;i<limit;i++)
   {
      if (Time[i]<TimeArray_1[i1]) i1++;
      if (Time[i]<TimeArray_2[i2]) i2++;
      if (Time[i]<TimeArray_3[i3]) i3++;
      if (Time[i]<TimeArray_4[i4]) i4++;

      for ( tf = 1; tf <= 4; tf++)
      {
         int prd;
         switch (tf)
         {
            case 1: prd = Period_1; yy = i1;  break;
            case 2: prd = Period_2; yy = i2;  break;
            case 3: prd = Period_3; yy = i3;   break;
            case 4: prd = Period_4; yy = i4;   break;
         }
      
         macd0 = iMACD(NULL, prd, MaFastPeriod, MaSlowPeriod, 9, price, MODE_MAIN, yy);
         macd1 = iMACD(NULL, prd, MaFastPeriod, MaSlowPeriod, 9, price, MODE_MAIN, yy+1);
         RefreshRates();
        
         switch (tf)
         {  case 1:  if (macd1>macd0)  buf1_down[i] = 1 + mode * 4;           else buf1_up[i] = 1 + mode * 4;           break;
            case 2:  if (macd1>macd0)  buf2_down[i] = 1 + mode * 4 + Gap * 1; else buf2_up[i] = 1 + mode * 4 + Gap * 1; break;
            case 3:  if (macd1>macd0)  buf3_down[i] = 1 + mode * 4 + Gap * 2; else buf3_up[i] = 1 + mode * 4 + Gap * 2; break;
            case 4:  if (macd1>macd0)  buf4_down[i] = 1 + mode * 4 + Gap * 3; else buf4_up[i] = 1 + mode * 4 + Gap * 3; break;
         }
      }
   }
   RefreshRates();
   return(0);
  }
  
  
  
//+------------------------------------------------------------------+
void getPeriod()
{
   if(mode == 1)
   {
      switch(Period()) 
         {
            case 1: 
               Period_1=60; Period_2=240; Period_3=1440; Period_4=10080;
               break;
            case 5: 
               Period_1=240; Period_2=1440; Period_3=10080; Period_4=43200;
               break;
            case 15: 
               Period_1=1440; Period_2=10080; Period_3=43200; Period_4=43200;
               break;
            case 30: 
               Period_1=10080; Period_2=43200; Period_3=43200; Period_4=43200;
               break;
            case 60: 
               Period_1=43200; Period_2=43200; Period_3=43200; Period_4=43200;
               break;
            case 240: 
               Period_1=43200; Period_2=43200; Period_3=43200; Period_4=43200;
               break;
            case 1440: 
               Period_1=43200; Period_2=43200; Period_3=43200; Period_4=43200;
               break;
            case 10080: 
               Period_1=43200; Period_2=43200; Period_3=43200; Period_4=43200;
               break;
            case 43200: 
               Period_1=43200; Period_2=43200; Period_3=43200; Period_4=43200;
               break;
         RefreshRates();
         }
   }
   else
   {
      switch(Period()) 
      {
         case 1: 
            Period_1=1; Period_2=5; Period_3=15; Period_4=30;
            break;
         case 5: 
            Period_1=5; Period_2=15; Period_3=30; Period_4=60;
            break;
         case 15: 
            Period_1=15; Period_2=30; Period_3=60; Period_4=240;
            break;
         case 30: 
            Period_1=30; Period_2=60; Period_3=240; Period_4=1440;
            break;
         case 60: 
            Period_1=60; Period_2=240; Period_3=1440; Period_4=10080;
            break;
         case 240: 
            Period_1=240; Period_2=1440; Period_3=10080; Period_4=43200;
            break;
         case 1440: 
            Period_1=1440; Period_2=10080; Period_3=43200; Period_4=43200;
            break;
         case 10080: 
            Period_1=10080; Period_2=43200; Period_3=43200; Period_4=43200;
            break;
         case 43200: 
            Period_1=43200; Period_2=43200; Period_3=43200; Period_4=43200;
            break;
      RefreshRates();   
      }
   }
}

string tf2txt(int tf)
{
   if (tf == PERIOD_M1)    return("M1");
   if (tf == PERIOD_M5)    return("M5");
   if (tf == PERIOD_M15)   return("M15");
   if (tf == PERIOD_M30)   return("M30");
   if (tf == PERIOD_H1)    return("H1");
   if (tf == PERIOD_H4)    return("H4");
   if (tf == PERIOD_D1)    return("D1");
   if (tf == PERIOD_W1)    return("W1");
   if (tf == PERIOD_MN1)   return("MN");
   
   return("??");
}


/*bool NewBar()
{
   static datetime dt = 0;
   
   if (Time[0] != dt)
   {
      dt = Time[0];
      
      return(true);
   }
   return(false);
}
*/

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