#MTF_shi_channel_1_003
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This script is designed as a technical analysis tool for the MetaTrader 4 platform. Its primary purpose is to automatically identify and visualize price "channels" on a trading chart based on historical price movements and structural highs or lows.
Core Logic Overview
The script functions by scanning historical data to locate specific geometric patterns in the market. Instead of just looking at random prices, it seeks out "fractals"—significant turning points where the price reached a local peak or trough over a specific period.
1. Data Selection and Sensitivity The tool adjusts its behavior based on the timeframe you are currently viewing. It automatically calculates how many past bars it needs to inspect to find reliable structural points. This ensures that on a fast-moving chart (like a 1-minute chart), the logic is more granular, while on a slower chart (like a daily chart), it looks for much larger structural moves.
2. Channel Construction Once the script identifies two significant structural points (a high and a low), it uses them as anchors to build a geometric channel:
- The Slope: It calculates the mathematical "step" or angle of the price move between these two points.
- The Boundaries: It draws two primary trend lines. One represents the upper boundary of the move, and the other represents the lower boundary.
- The Median: It generates a third, dotted "middle" line that represents the average path of the trend, helping traders see the equilibrium of the price action.
3. Dynamic Price Tracking The script doesn't just draw static lines; it actively monitors how the current price interacts with these boundaries. It performs a continuous check to determine if the market is pushing against the edges or moving toward the center of the channel.
4. Trend and "Flat" Analysis The logic includes an intelligent filter to distinguish between a trending market and a sideways (flat) market:
- Trend Identification: Based on the slope of the calculated lines, the script determines if the market is currently in an upward or downward trajectory.
- Volatility Filtering: It compares the width of the channel against the Average True Range (ATR). If the channel is too narrow relative to recent volatility, it flags the market as "flat."
5. Visual Signals To make the data actionable for a human trader, the script provides real-time text labels on the chart:
- Buy/Sell: When the market is moving decisively in a trend and interacts with the boundaries.
- Take: Used during specific price interactions where the trend might be reaching an exhaustion point or consolidating.
Summary for the User
Essentially, this script removes the guesswork of "drawing" lines manually. It looks back at history to find the most significant structural move, projects that move forward as a visible channel, and then labels the chart with potential Buy and Sell zones based on whether the price is breaking out of, riding along, or drifting through those boundaries.
Price Data Components
Indicators Used
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#MTF_shi_channel_1_003
//+------------------------------------------------------------------+
//| SHI_Channel.mq4 |
//|Alex_Bugalter |
//+------------------------------------------------------------------+
#property copyright "Alex_Bugalter"
#property link "Alex_Bugalter@treide.ru"
#property indicator_chart_window
#property indicator_buffers 1
#property indicator_color1 Red
double ExtMapBuffer1[];
//---- input parameters
extern int TimeFrame=60;
extern int AllBars=240;
extern int BarsForFract=0;
extern double flatCriteria=0.25;
extern color collor=Lime;
int CurrentBar=0;
double Step=0;
int B1=-1,B2=-1;
int UpDown=0;
double P1=0,P2=0,PP=0;
int i=0,AB=300,BFF=0;
int ishift=0;
double iprice=0;
datetime T1,T2;
int trend,flat;
//+------------------------------------------------------------------+
//| Custom indicator initialization function |
//+------------------------------------------------------------------+
int init()
{
//---- indicators
SetIndexStyle(0,DRAW_ARROW);
SetIndexArrow(0,164);
SetIndexBuffer(0,ExtMapBuffer1);
SetIndexEmptyValue(0,0.0);
//----
return(0);
}
//+------------------------------------------------------------------+
//| Custor indicator deinitialization function |
//+------------------------------------------------------------------+
int deinit()
{
//----
//----
return(0);
}
void DelObj()
{
ObjectDelete("TL1"+TimeFrame);
ObjectDelete("TL2"+TimeFrame);
ObjectDelete("MIDL"+TimeFrame);
}
//+------------------------------------------------------------------+
//| Custom indicator iteration function |
//+------------------------------------------------------------------+
int start()
{
int i,limit,y=0;
int counted_bars=IndicatorCounted();
limit=Bars-counted_bars;
int X = (Ask-P1);
int X2 = (Bid-P2);
//----
if ((AllBars==0) || (Bars<AllBars)) AB=Bars; else AB=AllBars; //AB-êîëè÷åñòâî îáñ÷èòûâàåìûõ áàðîâ
// string TimeFrame;
if (BarsForFract>0)
BFF=BarsForFract;
else
{
switch (TimeFrame)
{
case 1: BFF=12; break;
case 5: BFF=48; break;
case 15: BFF=24; break;
case 30: BFF=24; break;
case 60: BFF=12; break;
case 240: BFF=15; break;
case 1440: BFF=10; break;
case 10080: BFF=6; break;
default: DelObj(); return(-1); break;
X = P1;
}
}
CurrentBar=2; //ñ÷èòàåì ñ òðåòüåãî áàðà, ÷òîáû ôðàêòàë "çàêðåïèëñÿ
B1=y-1; B2=y-1; UpDown=0;
while(((B1==-1) || (B2==-1)) && (CurrentBar<AB))
{
//UpDown=1 çíà÷èò ïåðâûé ôðàêòàë íàéäåí ñâåðõó, UpDown=-1 çíà÷èò ïåðâûé ôðàêòàë
//íàéäåí ñíèçó, UpDown=0 çíà÷èò ôðàêòàë åù¸ íå íàéäåí.
//Â1 è Â2 - íîìåðà áàðîâ ñ ôðàêòàëàìè, ÷åðåç íèõ ñòðîèì îïîðíóþ ëèíèþ.
//Ð1 è Ð2 - ñîîòâåòñòâåííî öåíû ÷åðåç êîòîðûå áóäåì ëèíèþ ïðîâîäèòü
if((UpDown<1) && (CurrentBar==Lowest(Symbol(),TimeFrame,MODE_LOW,BFF*2+1,CurrentBar-BFF)))
{
if(UpDown==0)
{
UpDown=-1; B1=CurrentBar; P1=iLow(Symbol(),TimeFrame,B1);
}
else
{
B2=CurrentBar; P2=iLow(Symbol(),TimeFrame,B2);
}
}
if((UpDown>-1) && (CurrentBar==Highest(Symbol(),TimeFrame,MODE_HIGH,BFF*2+1,CurrentBar-BFF)))
{
if(UpDown==0)
{
UpDown=1; B1=CurrentBar; P1=iHigh(Symbol(),TimeFrame,B1);
}
else
{
B2=CurrentBar; P2=iHigh(Symbol(),TimeFrame,B2);
}
}
CurrentBar++;
}
if((B1==-1) || (B2==-1))
{
DelObj();
return(-1);
} // Çíà÷èò íå íàøëè ôðàêòàëîâ ñðåäè 300 áàðîâ
Step=(P2-P1)/(B2-B1);//Âû÷èñëèëè øàã, åñëè îí ïîëîæèòåëüíûé, òî êàíàë íèñõîäÿùèé
P1=P1-B1*Step; B1=0;//ïåðåñòàâëÿåì öåíó è ïåðâûé áàð ê íóëþ
//À òåïåðü îïîðíóþ òî÷êó ïðîòèâîïîëîæíîé ëèíèè êàíàëà.
ishift=0; iprice=0;
if(UpDown==1)
{
PP=iLow(Symbol(),TimeFrame,2)-2*Step;
for(i=3;i<=B2;i++)
{
if(iLow(Symbol(),TimeFrame,i)<PP+Step*i)
{
PP=iLow(Symbol(),TimeFrame,i)-i*Step;
}
}
if(iLow(Symbol(),TimeFrame,0)<PP)
{
ishift=0;
iprice=PP;
}
if(iLow(Symbol(),TimeFrame,1)<PP+Step)
{
ishift=1;
iprice=PP+Step;
}
if(iHigh(Symbol(),TimeFrame,0)>P1)
{
ishift=0;
iprice=P1;
}
if(iHigh(Symbol(),TimeFrame,1)>P1+Step)
{
ishift=1;
iprice=P1+Step;
}
}
else
{
PP=iHigh(Symbol(),TimeFrame,2)-2*Step;
for(i=3;i<=B2;i++)
{
if(iHigh(Symbol(),TimeFrame,i)>PP+Step*i)
{
PP=iHigh(Symbol(),TimeFrame,i)-i*Step;
}
}
if(iLow(Symbol(),TimeFrame,0)<P1)
{
ishift=0;
iprice=P1;
}
if(iLow(Symbol(),TimeFrame,1)<P1+Step)
{
ishift=1;
iprice=P1+Step;
}
if(iHigh(Symbol(),TimeFrame,0)>PP)
{
ishift=0;
iprice=PP;
}
if(iHigh(Symbol(),TimeFrame,1)>PP+Step)
{
ishift=1;
iprice=PP+Step;
}
}
//Òåïåðü ïåðåñòàâèì êîíå÷íóþ öåíó è áàð íà ÀÂ, ÷òîáû ëèíèè êàíàëà ðèñîâàëèñü ïîäëèííåå
P2=P1+AB*Step;
T1=Time[iBarShift(Symbol(),0,iTime(Symbol(),TimeFrame,B1))];
T2=Time[iBarShift(Symbol(),0,iTime(Symbol(),TimeFrame,AB))];
//Print("P1=",P1," P2=",P2);
//Åñëè íå áûëî ïåðåñå÷åíèÿ êàíàëà, òî 0, èíà÷å ñòàâèì ïñèñó.
if(iprice!=0) ExtMapBuffer1[ishift]=iprice;
//DelObj();
if (Step>0) trend=-1; else trend=1;
if (MathAbs(Step*20)>=2*iATR(Symbol(),TimeFrame,40,0)*flatCriteria) flat=0; else flat=1;
if (ObjectFind("TL1"+TimeFrame)==-1)
{
ObjectCreate("TL1"+TimeFrame,OBJ_TREND,0,T2,PP+Step*AB,T1,PP);
ObjectSet("TL1"+TimeFrame,OBJPROP_COLOR,collor);
ObjectSet("TL1"+TimeFrame,OBJPROP_WIDTH,2);
}
else
{
ObjectSet("TL1"+TimeFrame, OBJPROP_TIME1,T2);
ObjectSet("TL1"+TimeFrame, OBJPROP_PRICE1,PP+Step*AB);
ObjectSet("TL1"+TimeFrame, OBJPROP_TIME2,T1);
ObjectSet("TL1"+TimeFrame, OBJPROP_PRICE2,PP);
ObjectSet("TL1"+TimeFrame,OBJPROP_COLOR,collor);
ObjectSet("TL1"+TimeFrame,OBJPROP_WIDTH,2);
}
/*
ObjectSet("TL1",OBJPROP_COLOR,ForestGreen);
ObjectSet("TL1",OBJPROP_WIDTH,2);
ObjectSet("TL1",OBJPROP_STYLE,STYLE_SOLID);
*/
if (ObjectFind("TL2"+TimeFrame)==-1)
{
ObjectCreate("TL2"+TimeFrame,OBJ_TREND,0,T2,P2,T1,P1);
ObjectSet("TL2"+TimeFrame,OBJPROP_COLOR,collor);
ObjectSet("TL2"+TimeFrame,OBJPROP_WIDTH,2);
}
else
{
ObjectSet("TL2"+TimeFrame, OBJPROP_TIME1,T2);
ObjectSet("TL2"+TimeFrame, OBJPROP_PRICE1,P2);
ObjectSet("TL2"+TimeFrame, OBJPROP_TIME2,T1);
ObjectSet("TL2"+TimeFrame, OBJPROP_PRICE2,P1);
ObjectSet("TL2"+TimeFrame,OBJPROP_COLOR,collor);
ObjectSet("TL2"+TimeFrame,OBJPROP_WIDTH,2);
}
/*
ObjectSet("TL2",OBJPROP_COLOR,ForestGreen);
ObjectSet("TL2",OBJPROP_WIDTH,2);
ObjectSet("TL2",OBJPROP_STYLE,STYLE_SOLID);
*/
if (ObjectFind("MIDL"+TimeFrame)==-1)
{
ObjectCreate("MIDL"+TimeFrame,OBJ_TREND,0,T2,(P2+PP+Step*AB)/2,T1,(P1+PP)/2);
ObjectSet("MIDL"+TimeFrame,OBJPROP_COLOR,collor);
ObjectSet("MIDL"+TimeFrame,OBJPROP_WIDTH,1);
ObjectSet("MIDL"+TimeFrame,OBJPROP_STYLE,STYLE_DOT);
}
else
{
ObjectSet("MIDL"+TimeFrame, OBJPROP_TIME1,T2);
ObjectSet("MIDL"+TimeFrame, OBJPROP_PRICE1,(P2+PP+Step*AB)/2);
ObjectSet("MIDL"+TimeFrame, OBJPROP_TIME2,T1);
ObjectSet("MIDL"+TimeFrame, OBJPROP_PRICE2,(P1+PP)/2);
ObjectSet("MIDL"+TimeFrame,OBJPROP_WIDTH,1);
ObjectSet("MIDL"+TimeFrame,OBJPROP_STYLE,STYLE_DOT);
ObjectSet("MIDL"+TimeFrame,OBJPROP_COLOR,collor);
}
/*
ObjectSet("MIDL",OBJPROP_COLOR,ForestGreen);
ObjectSet("MIDL",OBJPROP_WIDTH,1);
ObjectSet("MIDL",OBJPROP_STYLE,STYLE_DOT);
*/
if (flat==1)
{
//Print("flat=1");
if(PP+Step*AB>P2)
{
ObjectSetText("TL1"+TimeFrame,"Sell");
ObjectSetText("TL2"+TimeFrame,"Buy");
}
else
{
ObjectSetText("TL2"+TimeFrame,"Sell");
ObjectSetText("TL1"+TimeFrame,"Buy");
}
}
else
{
//Print("flat=0");
if((PP+Step*AB>P2)&&(trend==-1))
{
ObjectSetText("TL1"+TimeFrame,"Sell");
ObjectSetText("TL2"+TimeFrame,"Take");
}
if((PP+Step*AB>P2)&&(trend==1))
{
ObjectSetText("TL1"+TimeFrame,"Take");
ObjectSetText("TL2"+TimeFrame,"Buy");
}
if((PP+Step*AB<P2)&&(trend==-1))
{
ObjectSetText("TL2"+TimeFrame,"Sell");
ObjectSetText("TL1"+TimeFrame,"Take");
}
if((PP+Step*AB<P2)&&(trend==1))
{
ObjectSetText("TL2"+TimeFrame,"Take");
ObjectSetText("TL1"+TimeFrame,"Buy");
}
}
//} //----
// Comment("Âåðõ êàíàëà = ",PP,"\n","Ñåðåäèíà = ",(P1+PP)/2,"\n","Íèç êàíàëà = ",P1,"\n","Øèðèíà = ",(PP-P1),"\n","Êàñàíèå Âåðõà = ",-(PP-Bid)," ïèïñîâ","\n","Êàñàíèå Íèçà = ",(P1-Ask)," ïèïñîâ");
return(0);
}
//+------------------------------------------------------------------+
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