#MTF Stochastic v2.0 Alert

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#MTF Stochastic v2.0 Alert

This script is a specialized technical analysis tool designed to display the Stochastic Oscillator—a momentum indicator that helps traders identify overbought or oversold conditions—across different timeframes simultaneously.

The primary purpose of this tool is to allow a user watching a small timeframe (like a 1-minute chart) to see what the market is doing on a larger timeframe (like a 1-hour or daily chart) without having to switch back and forth between different windows.

Core Functionality

Multi-Timeframe Integration The script pulls data from a secondary, higher timeframe that you choose (e.g., Daily, Weekly, or Hourly). It calculates the Stochastic values for that specific period and projects them onto your current chart. This helps in aligning "the big picture" with immediate price action.

Dynamic Visual Representation To ensure the data is easy to read, the script handles three types of visual lines:

  1. Historical Lines: These represent the completed movement of the higher timeframe.
  2. Current Candle Progress: It provides a real-time view of where the indicator currently stands for the candle that is still forming.
  3. Linear Interpolation: This is a sophisticated mathematical logic used to smooth out the data. Because a "Daily" candle represents many small "Minute" candles, there is often a gap in the data. The script fills these gaps by drawing a smooth, proportional line between the start and end of the higher timeframe's movement, preventing the indicator from looking "choppy" or disconnected.

Alert System The script includes an automated notification system. It monitors the relationship between the two main components of the Stochastic oscillator (the %K and %D lines). When one line crosses over the other, the script can trigger a pop-up alert on your screen to notify you of a potential change in momentum.

Time Tracking There is an optional "Clock" feature. If enabled, it calculates the remaining time until the current higher timeframe candle closes and displays a countdown on your chart. This is useful for traders who need to know exactly how much time remains before a significant structural change in the price might occur.

Summary of User Benefits

  • Contextual Awareness: See the "big picture" trends while making precise entries on smaller charts.
  • Smooth Visuals: Avoids the jagged jumps often seen in standard multi-timeframe indicators by using interpolation to connect data points.
  • Automation: Saves time by providing real-time alerts and countdowns, reducing the need to manually watch the screen for specific signal crosses.
Indicators Used
Stochastic oscillator
Miscellaneous
Implements a curve of type %1It issuies visual alerts to the screen
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#MTF Stochastic v2.0 Alert 
//+------------------------------------------------------------------+
//|                                               MTF Stochastic.mq4 |
//|													2007, Christof Risch (iya)	|
//| Stochastic indicator from any timeframe.									|
//+------------------------------------------------------------------+
#property link "http://www.forexfactory.com/showthread.php?t=30109"
#property indicator_separate_window
#property indicator_buffers	4
#property indicator_color1		LightSeaGreen	// %K line
#property indicator_color2		Red				// %D line
#property indicator_color3		LightGreen		// %K line of the current candle
#property indicator_color4		LightSalmon		// %D line of the current candle
#property indicator_level1		80
#property indicator_level2		20
#property indicator_maximum	100
#property indicator_minimum	0

//---- input parameters
extern bool AlertOn = true;

extern int	TimeFrame	= 0,		// {1=M1, 5=M5, 15=M15, ..., 1440=D1, 10080=W1, 43200=MN1}
				KPeriod		= 5,
				DPeriod		= 3,
				Slowing		= 3,
				MAMethod		= 0,		// {0=SMA, 1=EMA, 2=SMMA, 3=LWMA}
				PriceField	= 0;		// {0=Hi/Low, 1=Close/Close}
extern bool	ShowClock	= false;	// display time to candle close countdown
extern color ClockColor	= Red;

//---- indicator buffers
double		BufferK[],
				BufferD[],
				BufferK_Curr[],
				BufferD_Curr[];

//----
string	IndicatorName = "",
			TimeLabelName = "";

string AlertPrefix;
//+------------------------------------------------------------------+
//| Custom indicator initialization function                         |
//+------------------------------------------------------------------+
int init()
{
//---- name for DataWindow and indicator subwindow label
	switch(TimeFrame)
	{
		case 1:		IndicatorName="Period M1";	break;
		case 5:		IndicatorName="Period M5"; break;
		case 15:		IndicatorName="Period M15"; break;
		case 30:		IndicatorName="Period M30"; break;
		case 60:		IndicatorName="Period H1"; break;
		case 240:	IndicatorName="Period H4"; break;
		case 1440:	IndicatorName="Period D1"; break;
		case 10080:	IndicatorName="Period W1"; break;
		case 43200:	IndicatorName="Period MN1"; break;
		default:	  {TimeFrame = Period(); init(); return(0);}
	}

	IndicatorName = IndicatorName+" Stoch("+KPeriod+","+DPeriod+","+Slowing+")";
	IndicatorShortName(IndicatorName);  
	IndicatorDigits(1);

//---- indicator lines
	SetIndexBuffer(0,BufferK);
	SetIndexBuffer(1,BufferD);
	SetIndexBuffer(2,BufferK_Curr);
	SetIndexBuffer(3,BufferD_Curr);
 	SetIndexStyle(0,DRAW_LINE);
	SetIndexStyle(1,DRAW_LINE);
	SetIndexStyle(2,DRAW_LINE);
	SetIndexStyle(3,DRAW_LINE);
 	SetIndexLabel(0,IndicatorName+" %K line");
	SetIndexLabel(1,IndicatorName+" %D Signal");
 	SetIndexLabel(2,IndicatorName+" %K current candle");
 	SetIndexLabel(3,IndicatorName+" %D current candle");

   AlertPrefix=Symbol()+" ("+GetTimeFrameStr()+") Stoch :  ";

}

//+------------------------------------------------------------------+
int deinit()
{
	if(TimeLabelName!="")
	if(ObjectFind	(TimeLabelName) != -1)
		ObjectDelete(TimeLabelName);
}

string GetTimeFrameStr() {
   switch(Period())
   {
      case 1 : string TimeFrameStr="M1"; break;
      case 5 : TimeFrameStr="M5"; break;
      case 15 : TimeFrameStr="M15"; break;
      case 30 : TimeFrameStr="M30"; break;
      case 60 : TimeFrameStr="H1"; break;
      case 240 : TimeFrameStr="H4"; break;
      case 1440 : TimeFrameStr="D1"; break;
      case 10080 : TimeFrameStr="W1"; break;
      case 43200 : TimeFrameStr="MN1"; break;
      default : TimeFrameStr=Period();
   } 
   return (TimeFrameStr);
}

bool NewBar()
{
   static datetime lastbar;
   datetime curbar = Time[0];
   if(lastbar!=curbar)
   {
      lastbar=curbar;
      return (true);
   }
   else
   {
      return(false);
   }
}   

//+------------------------------------------------------------------+
//| MTF Stochastic                                                   |
//+------------------------------------------------------------------+
int start()
{
//----
//	counted bars from indicator time frame
	static int countedBars1 = 0;

//----
//	counted bars from display time frame
	if(Bars-1-IndicatorCounted() > 1 && countedBars1!=0)
		countedBars1 = 0;

	int bars1 = iBars(NULL,TimeFrame),
		 start1 = bars1-1-countedBars1,
		 limit1 = iBarShift(NULL,TimeFrame,Time[Bars-1]);

	if(countedBars1 != bars1-1)
	{
		countedBars1  = bars1-1;
		ArrayInitialize(BufferK_Curr,EMPTY_VALUE);
		ArrayInitialize(BufferD_Curr,EMPTY_VALUE);
		if(TimeLabelName!="")
		if(ObjectFind	(TimeLabelName) != -1)
			ObjectDelete(TimeLabelName);
	}

	if(start1 > limit1 && limit1 != -1)
		start1 = limit1;

//----
//	3... 2... 1... GO!
	for(int i = start1; i >= 0; i--)
	{
		int shift1 = i;

		if(TimeFrame < Period())
			shift1 = iBarShift(NULL,TimeFrame,Time[i]);

		int time1  = iTime    (NULL,TimeFrame,shift1),
			 shift2 = iBarShift(NULL,0,time1);

		double stochK = iStochastic(NULL,TimeFrame,KPeriod,DPeriod,Slowing,MAMethod,PriceField,0,shift1),
				 stochD = iStochastic(NULL,TimeFrame,KPeriod,DPeriod,Slowing,MAMethod,PriceField,1,shift1);

	//----
	//	old (closed) candles
		if(shift1>=1)
		{
			BufferK[shift2] = stochK;
			BufferD[shift2] = stochD;
		}

	//----
	//	current candle
		if((TimeFrame >=Period() && shift1<=1)
		|| (TimeFrame < Period() &&(shift1==0||shift2==1)))
		{
			BufferK_Curr[shift2] = stochK;
			BufferD_Curr[shift2] = stochD;
		}

	//----
	//	linear interpolatior for the number of intermediate bars, between two higher timeframe candles.
		int n = 1;
		if(TimeFrame > Period())
		{
			int shift2prev = iBarShift(NULL,0,iTime(NULL,TimeFrame,shift1+1));

			if(shift2prev!=-1 && shift2prev!=shift2)
				n = shift2prev - shift2;
		}

	//----
	//	apply interpolation
		double factor = 1.0 / n;
		if(shift1>=1)
		if(BufferK[shift2+n]!=EMPTY_VALUE && BufferK[shift2]!=EMPTY_VALUE)
		{
			for(int k = 1; k < n; k++)
			{
				BufferK[shift2+k] = k*factor*BufferK[shift2+n] + (1.0-k*factor)*BufferK[shift2];
				BufferD[shift2+k] = k*factor*BufferD[shift2+n] + (1.0-k*factor)*BufferD[shift2];
			}
		}

	//----
	//	current candle
		if(shift1==0)
		if(BufferK_Curr[shift2+n]!=EMPTY_VALUE && BufferK_Curr[shift2]!=EMPTY_VALUE)
		{
			for(k = 1; k < n; k++)
			{
				BufferK_Curr[shift2+k] = k*factor*BufferK_Curr[shift2+n] + (1.0-k*factor)*BufferK_Curr[shift2];
				BufferD_Curr[shift2+k] = k*factor*BufferD_Curr[shift2+n] + (1.0-k*factor)*BufferD_Curr[shift2];
			}

		//----
		//	candle time countdown
			if(ShowClock)
			{
				int m,s;

				s = iTime(NULL,TimeFrame,0)+TimeFrame*60 - TimeCurrent();
				m = (s-s%60)/60;
				s = s%60;

				string text;
				if(s<10)	text = "0"+s;
				else		text = ""+s;
				text = "            "+m+":"+text;

				int window = WindowFind(IndicatorName);
				if(window==-1)
					window = WindowOnDropped() ;

				TimeLabelName = IndicatorName+" Time Counter "+window;

				if(ObjectFind	(TimeLabelName) == -1)
					ObjectCreate(TimeLabelName, OBJ_TEXT, window, Time[shift2], BufferK_Curr[shift2]+3);
				else
					ObjectMove	(TimeLabelName, 0, Time[shift2], BufferK_Curr[shift2]+3);

				ObjectSetText	(TimeLabelName, text, 8, "Verdana", ClockColor);
			}
		}
// Alert
		
      if ((BufferK[i] < BufferD[i]) && (BufferK[i+1] > BufferD[i+1])) {
                   if (AlertOn && NewBar()) {
                      Alert(AlertPrefix + "Crosses UP ");
                   }   
      }
      else if ((BufferK[i] < BufferD[i]) && (BufferK[i+1] > BufferD[i+1])) {
                   if (AlertOn && NewBar()) {
                      Alert(AlertPrefix+"crosses DOWN ");
                   }   
      }
	}

	return(0);
}

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