pricedegrees
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Overview
The PriceDegrees script is a specialized financial analysis tool designed for the MetaTrader 4 platform. Its primary purpose is to visualize and notify traders about the specific relative positioning of the current market price compared to historical price extremes (the highest and lowest prices) within a visible window.
Core Logic and Mechanics
1. Geometric Price Mapping Instead of looking at raw price numbers, the script converts the price action into a "degree" system (similar to a 360-degree circle). It calculates where the current price sits relative to the highest and lowest points currently visible on your chart.
- A price moving rapidly toward the top of the window is mapped toward one extreme of the degree scale.
- A price moving rapidly toward the bottom of the window is mapped toward the opposite extreme.
2. Multi-Timeframe Analysis The script doesn't just look at the current price in isolation. It gathers data from multiple timeframes simultaneously—specifically looking at Daily, 4-hour, and 15-minute intervals. By comparing the current price against these different benchmarks, it can determine how "stretched" or "compressed" the market is across different periods.
3. Trend Strength Detection By calculating the differences between these various timeframe degrees, the script determines the momentum of the market. It identifies whether the current move is a continuation of an existing trend (strengthening) or a potential reversal (weakening).
Visual Indicators and User Interface
The script provides real-time visual feedback directly on your trading chart:
- Dynamic Labeling: It displays the specific numerical degree of the current price.
- Visual Cues: It uses color-coded labels and symbols to indicate market sentiment. For example, it distinguishes between "Strong Bullish" movements (where the trend is upward and gaining strength) and "Bearish Reversals" (where a downward trend is beginning to flip).
- Real-time Updates: The visual elements on the chart are designed to refresh automatically as new price data arrives, ensuring the information is always current.
Alert System
One of the primary functions of this script is its proactive notification system. It monitors for specific "state changes" in the market trend. When the logic detects a significant shift—such as a bullish trend weakening or a bearish trend strengthening—it can trigger multiple types of alerts:
- Pop-up Alerts: On-screen notifications within the platform.
- Audio Signals: Sound effects to grab your attention immediately.
- Email Notifications: Optional alerts sent directly to your inbox (depending on your configuration).
These alerts are specifically designed to identify key transition points, such as when a trend begins to fall, when a reversal occurs, or when a specific market direction gains significant momentum.
Price Data Components
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pricedegrees
//+------------------------------------------------------------------+
//| PriceDegrees.mq4 |
//| Copyright 2014, Roy Philips Jacobs ~ 29/06/2014 |
//| http://www.gol2you.com |
//+------------------------------------------------------------------+
#property copyright "Copyright 2014, Roy Philips Jacobs ~ 29/06/2014"
#property link "http://www.gol2you.com ~ Forex Videos"
#property description "Forex Indicator Price Degrees with Trend Alerts."
#property description "This indicator will write value degrees of the lastest position of price at the current Timeframes."
#property description "according to the Daily price movment, and when position and condition of trend status was changed,"
#property description "the indicator will give an alerts."
//--
#property indicator_chart_window
//---
extern string PriceDegrees="Copyright © 2014 3RJ ~ Roy Philips-Jacobs";
extern bool MsgAlerts = true;
extern bool SoundAlerts = true;
extern bool eMailAlerts = false;
extern string SoundAlertFile="alert.wav";
//--
int corner=1;
int dist_x=190;
int dist_xt=150;
int dist_y=80;
int sep=30;
int posalert,prevalert;
//--
color stgBull=clrBlue;
color stsBull=clrAqua;
color stsBear=clrYellow;
color stgBear=clrRed;
color txtrbl=clrWhite;
color txtblk=clrBlack;
//--
void EventSetTimer();
//--
string CRight;
string symbol;
string dtext;
string Albase,AlSubj,AlMsg;
//---
//+------------------------------------------------------------------+
//| Custom indicator initialization function |
//+------------------------------------------------------------------+
void OnInit(void)
{
//--- indicator buffers mapping
symbol=_Symbol;
CRight="Copyright © 2014 3RJ ~ Roy Philips-Jacobs";
//---
//---- indicators
//---
IndicatorShortName("PriceDegrees ("+symbol+")");
//--
IndicatorDigits(Digits);
//--
//---
return;
}
//+------------------------------------------------------------------+
//| Custom indicator deinitialization function |
//+------------------------------------------------------------------+
void OnDeinit(const int reason)
{
//----
EventKillTimer();
GlobalVariablesDeleteAll();
//---
ObjectDelete("RoundedDegrees");
ObjectDelete("TextDegrees");
ObjectDelete("ArrUpDegrees");
ObjectDelete("ArrDnDegrees");
//----
return;
}
//+------------------------------------------------------------------+
//| Custom indicator iteration function |
//+------------------------------------------------------------------+
int OnCalculate(const int rates_total,
const int prev_calculated,
const datetime &time[],
const double &open[],
const double &high[],
const double &low[],
const double &close[],
const long &tick_volume[],
const long &volume[],
const int &spread[])
{
//------
if(PriceDegrees!=CRight) return(0);
if(rates_total<sep) return(0);
//---
//--- Set Last error value to Zero
ResetLastError();
ChartSetInteger(0,CHART_AUTOSCROLL,0,true);
WindowRedraw();
ChartRedraw(0);
Sleep(500);
RefreshRates();
double WmaxPr=NormalizeDouble(WindowPriceMax(),Digits);
double WminPr=NormalizeDouble(WindowPriceMin(),Digits);
int limit=WindowFirstVisibleBar();
int j;
int dtxt=0;
//---
color rndclr;
color arrclr;
color txtclr;
//---
bool dgrsUp,dgrsDn;
//--
//----
//--
for(j=limit; j>=0; j--)
{
//---
double dayopp=iOpen(symbol,1440,j);
double h4cls1=iClose(symbol,240,j+1);
double m15cl1=iClose(symbol,15,j+1);
double cc0=close[j];
//--
double dop_degrees=270+((dayopp-WminPr)/(WmaxPr-WminPr))*180;
//--
double prvh41_degrees=270+((h4cls1-WminPr)/(WmaxPr-WminPr))*180;
//--
double prv151_degrees=270+((m15cl1-WminPr)/(WmaxPr-WminPr))*180;
//--
double cur_degrees=270+((cc0-WminPr)/(WmaxPr-WminPr))*180;
//--
double div1_degrees=prvh41_degrees - dop_degrees;
double div151_degrees=prv151_degrees - prvh41_degrees;
double div150_degrees=cur_degrees - prvh41_degrees;
double div0_degrees=cur_degrees - dop_degrees;
//--
if(cur_degrees>360.0) {cur_degrees=cur_degrees-360.0;}
if(cur_degrees==360.0) {cur_degrees=0.0;}
//- To give a value of 90.0 degrees to the indicator, when the price moves up very quickly and make a New Windows Price Max.
if(cur_degrees==90.0) {cur_degrees=90.0;}
//- To give a value of 270.0 degrees to the indicator, when the price moves down very quickly and make a New Windows Price Min.
if(cur_degrees==270.0) {cur_degrees=270.0;}
//--
if((div0_degrees>div1_degrees)&&(div150_degrees>div151_degrees))
{dgrsUp=true; dgrsDn=false;}
if((div0_degrees<div1_degrees)&&(div150_degrees<div151_degrees))
{dgrsDn=true; dgrsUp=false;}
//--
//--- last edited 2014.06.29 11:25PM
if((cur_degrees>=270.0 && cur_degrees<315.0)&&(dgrsDn==true)) {rndclr=stgBear; arrclr=stgBear; txtclr=txtrbl; posalert=11;}
if((cur_degrees>=270.0 && cur_degrees<315.0)&&(dgrsUp==true)) {rndclr=stgBear; arrclr=stsBear; txtclr=txtrbl; posalert=12;}
if((cur_degrees>=315.0 && cur_degrees<360.0)&&(dgrsDn==true)) {rndclr=stsBear; arrclr=stgBear; txtclr=txtblk; posalert=21;}
if((cur_degrees>=315.0 && cur_degrees<360.0)&&(dgrsUp==true)) {rndclr=stsBear; arrclr=stsBull; txtclr=txtblk; posalert=23;}
if((cur_degrees>=0.0 && cur_degrees<45.0)&&(dgrsUp==true)) {rndclr=stsBull; arrclr=stgBull; txtclr=txtblk; posalert=34;}
if((cur_degrees>=0.0 && cur_degrees<45.0)&&(dgrsDn==true)) {rndclr=stsBull; arrclr=stsBear; txtclr=txtblk; posalert=32;}
if((cur_degrees>=45.0 && cur_degrees<=90.0)&&(dgrsUp==true)) {rndclr=stgBull; arrclr=stgBull; txtclr=txtrbl; posalert=44;}
if((cur_degrees>=45.0 && cur_degrees<=90.0)&&(dgrsDn==true)) {rndclr=stgBull; arrclr=stsBull; txtclr=txtrbl; posalert=43;}
//---
dtext=StringTrimRight(StringConcatenate(DoubleToStr(cur_degrees,1),"",CharToStr(176)));
if(StringLen(dtext)>5) {dtxt=24;}
else if(StringLen(dtext)==5) {dtxt=20;}
else {dtxt=17;}
//----
if(j==0)
{
//---
ObjectDelete("RoundedDegrees");
ObjectDelete("TextDegrees");
ObjectDelete("ArrUpDegrees");
ObjectDelete("ArrDnDegrees");
//--
if(ObjectFind(0,"RoundedDegrees")<0)
{
//--
ObjectCreate(0,"RoundedDegrees",OBJ_LABEL,0,0,0);
ObjectSetString(0,"RoundedDegrees",OBJPROP_TEXT,CharToStr(108));
ObjectSetString(0,"RoundedDegrees",OBJPROP_FONT,"Wingdings");
ObjectSetInteger(0,"RoundedDegrees",OBJPROP_COLOR,rndclr);
ObjectSetInteger(0,"RoundedDegrees",OBJPROP_FONTSIZE,67);
ObjectSetInteger(0,"RoundedDegrees",OBJPROP_CORNER,corner);
ObjectSetInteger(0,"RoundedDegrees",OBJPROP_XDISTANCE,dist_x);
ObjectSetInteger(0,"RoundedDegrees",OBJPROP_YDISTANCE,dist_y);
//--
}
else
{
//--
ObjectSetString(0,"RoundedDegrees",OBJPROP_TEXT,CharToStr(108));
ObjectSetString(0,"RoundedDegrees",OBJPROP_FONT,"Wingdings");
ObjectSetInteger(0,"RoundedDegrees",OBJPROP_COLOR,rndclr);
ObjectSetInteger(0,"RoundedDegrees",OBJPROP_FONTSIZE,67);
ObjectSetInteger(0,"RoundedDegrees",OBJPROP_CORNER,corner);
ObjectSetInteger(0,"RoundedDegrees",OBJPROP_XDISTANCE,dist_x);
ObjectSetInteger(0,"RoundedDegrees",OBJPROP_YDISTANCE,dist_y);
//--
}
//--
if(ObjectFind(0,"TextDegrees")<0)
{
//--
ObjectCreate(0,"TextDegrees",OBJ_LABEL,0,0,0);
ObjectSetString(0,"TextDegrees",OBJPROP_TEXT,dtext);
ObjectSetString(0,"TextDegrees",OBJPROP_FONT,"Bodoni MT Black");
ObjectSetInteger(0,"TextDegrees",OBJPROP_COLOR,txtclr);
ObjectSetInteger(0,"TextDegrees",OBJPROP_FONTSIZE,8);
ObjectSetInteger(0,"TextDegrees",OBJPROP_CORNER,corner);
ObjectSetInteger(0,"TextDegrees",OBJPROP_XDISTANCE,dist_xt+dtxt);
ObjectSetInteger(0,"TextDegrees",OBJPROP_YDISTANCE,dist_y+41.5);
//--
}
else
{
//--
ObjectSetString(0,"TextDegrees",OBJPROP_TEXT,dtext);
ObjectSetString(0,"TextDegrees",OBJPROP_FONT,"Bodoni MT Black");
ObjectSetInteger(0,"TextDegrees",OBJPROP_COLOR,txtclr);
ObjectSetInteger(0,"TextDegrees",OBJPROP_FONTSIZE,8);
ObjectSetInteger(0,"TextDegrees",OBJPROP_CORNER,corner);
ObjectSetInteger(0,"TextDegrees",OBJPROP_XDISTANCE,dist_xt+dtxt);
ObjectSetInteger(0,"TextDegrees",OBJPROP_YDISTANCE,dist_y+41.5);
//--
}
//---
//---
if(dgrsUp)
{
//--
if(ObjectFind(0,"ArrUpDegrees")<0)
{
//--
ObjectCreate(0,"ArrUpDegrees",OBJ_LABEL,0,0,0);
ObjectSetString(0,"ArrUpDegrees",OBJPROP_TEXT,CharToStr(217));
ObjectSetString(0,"ArrUpDegrees",OBJPROP_FONT,"Wingdings");
ObjectSetInteger(0,"ArrUpDegrees",OBJPROP_COLOR,arrclr);
ObjectSetInteger(0,"ArrUpDegrees",OBJPROP_FONTSIZE,23);
ObjectSetInteger(0,"ArrUpDegrees",OBJPROP_CORNER,corner);
ObjectSetInteger(0,"ArrUpDegrees",OBJPROP_XDISTANCE,dist_xt+20);
ObjectSetInteger(0,"ArrUpDegrees",OBJPROP_YDISTANCE,dist_y-2);
//--
}
else
{
//--
ObjectSetString(0,"ArrUpDegrees",OBJPROP_TEXT,CharToStr(217));
ObjectSetString(0,"ArrUpDegrees",OBJPROP_FONT,"Wingdings");
ObjectSetInteger(0,"ArrUpDegrees",OBJPROP_COLOR,arrclr);
ObjectSetInteger(0,"ArrUpDegrees",OBJPROP_FONTSIZE,23);
ObjectSetInteger(0,"ArrUpDegrees",OBJPROP_CORNER,corner);
ObjectSetInteger(0,"ArrUpDegrees",OBJPROP_XDISTANCE,dist_xt+20);
ObjectSetInteger(0,"ArrUpDegrees",OBJPROP_YDISTANCE,dist_y-2);
//--
}
//--
//--
}
//---
//---
if(dgrsDn)
{
//--
if(ObjectFind(0,"ArrDnDegrees")<0)
{
//--
ObjectCreate(0,"ArrDnDegrees",OBJ_LABEL,0,0,0);
ObjectSetString(0,"ArrDnDegrees",OBJPROP_TEXT,CharToStr(218));
ObjectSetString(0,"ArrDnDegrees",OBJPROP_FONT,"Wingdings");
ObjectSetInteger(0,"ArrDnDegrees",OBJPROP_COLOR,arrclr);
ObjectSetInteger(0,"ArrDnDegrees",OBJPROP_FONTSIZE,23);
ObjectSetInteger(0,"ArrDnDegrees",OBJPROP_CORNER,corner);
ObjectSetInteger(0,"ArrDnDegrees",OBJPROP_XDISTANCE,dist_xt+20);
ObjectSetInteger(0,"ArrDnDegrees",OBJPROP_YDISTANCE,dist_y+63);
//--
}
else
{
//--
ObjectSetString(0,"ArrDnDegrees",OBJPROP_TEXT,CharToStr(218));
ObjectSetString(0,"ArrDnDegrees",OBJPROP_FONT,"Wingdings");
ObjectSetInteger(0,"ArrDnDegrees",OBJPROP_COLOR,arrclr);
ObjectSetInteger(0,"ArrDnDegrees",OBJPROP_FONTSIZE,23);
ObjectSetInteger(0,"ArrDnDegrees",OBJPROP_CORNER,corner);
ObjectSetInteger(0,"ArrDnDegrees",OBJPROP_XDISTANCE,dist_xt+20);
ObjectSetInteger(0,"ArrDnDegrees",OBJPROP_YDISTANCE,dist_y+63);
//--
}
//--
//--
}
//--
ChartRedraw(0);
WindowRedraw();
Sleep(500);
RefreshRates();
//--
PosAlerts(posalert);
//---
}
//---- End if(j)
}
//--- End for(j)
//--- done
return(rates_total);
}
//----- End OnCalculate()
//+--+
void DoAlerts(string msgText,string eMailSub)
{
if (MsgAlerts) Alert(msgText);
if (SoundAlerts) PlaySound(SoundAlertFile);
if (eMailAlerts) SendMail(eMailSub,msgText);
}
//+--+
//+--+
string StrTF(int period)
{
switch(period)
{
case PERIOD_M1: return("M1");
case PERIOD_M5: return("M5");
case PERIOD_M15: return("M15");
case PERIOD_M30: return("M30");
case PERIOD_H1: return("H1");
case PERIOD_H4: return("H4");
case PERIOD_D1: return("D1");
case PERIOD_W1: return("W1");
case PERIOD_MN1: return("MN");
}
return(_Period);
}
//+--+
//+--+
void PosAlerts(int curalerts) //- last edited 2014.06.29 05:38AM
{
//---
if((curalerts!=prevalert)&&(curalerts==43))
{
Albase=StringConcatenate(symbol,", TF: ",StrTF(_Period),", PriceDegrees: ","Position ",dtext);
AlSubj=StringConcatenate(Albase," Trend Began to Fall, Bulish Weakened");
AlMsg=StringConcatenate(AlSubj," @ ",TimeToStr(TimeLocal(),TIME_SECONDS));
DoAlerts(AlMsg,AlSubj);
prevalert=curalerts;
}
//---
if((curalerts!=prevalert)&&(curalerts==32))
{
Albase=StringConcatenate(symbol,", TF: ",StrTF(_Period),", PriceDegrees: ","Position ",dtext);
AlSubj=StringConcatenate(Albase," Trend was Down, Bulish Reversal");
AlMsg=StringConcatenate(AlSubj," @ ",TimeToStr(TimeLocal(),TIME_SECONDS));
DoAlerts(AlMsg,AlSubj);
prevalert=curalerts;
}
//---
if((curalerts!=prevalert)&&(curalerts==21))
{
Albase=StringConcatenate(symbol,", TF: ",StrTF(_Period),", PriceDegrees: ","Position ",dtext);
AlSubj=StringConcatenate(Albase," Trend was Down, Bearish Strengthened");
AlMsg=StringConcatenate(AlSubj," @ ",TimeToStr(TimeLocal(),TIME_SECONDS));
DoAlerts(AlMsg,AlSubj);
prevalert=curalerts;
}
//---
if((curalerts!=prevalert)&&(curalerts==11))
{
Albase=StringConcatenate(symbol,", TF: ",StrTF(_Period),", PriceDegrees: ","Position ",dtext);
AlSubj=StringConcatenate(Albase," Trend was Down, Strong Bearish");
AlMsg=StringConcatenate(AlSubj," @ ",TimeToStr(TimeLocal(),TIME_SECONDS));
DoAlerts(AlMsg,AlSubj);
prevalert=curalerts;
}
//---//
if((curalerts!=prevalert)&&(curalerts==12))
{
Albase=StringConcatenate(symbol,", TF: ",StrTF(_Period),", PriceDegrees: ","Position ",dtext);
AlSubj=StringConcatenate(Albase," Trend Began to Rise, Bearish Weakened");
AlMsg=StringConcatenate(AlSubj," @ ",TimeToStr(TimeLocal(),TIME_SECONDS));
DoAlerts(AlMsg,AlSubj);
prevalert=curalerts;
}
//---
if((curalerts!=prevalert)&&(curalerts==23))
{
Albase=StringConcatenate(symbol,", TF: ",StrTF(_Period),", PriceDegrees: ","Position ",dtext);
AlSubj=StringConcatenate(Albase," Trend was Up, Bearish Reversal");
AlMsg=StringConcatenate(AlSubj," @ ",TimeToStr(TimeLocal(),TIME_SECONDS));
DoAlerts(AlMsg,AlSubj);
prevalert=curalerts;
}
//---
if((curalerts!=prevalert)&&(curalerts==34))
{
Albase=StringConcatenate(symbol,", TF: ",StrTF(_Period),", PriceDegrees: ","Position ",dtext);
AlSubj=StringConcatenate(Albase," Trend was Up, Bulish Strengthened");
AlMsg=StringConcatenate(AlSubj," @ ",TimeToStr(TimeLocal(),TIME_SECONDS));
DoAlerts(AlMsg,AlSubj);
prevalert=curalerts;
}
//---
if((curalerts!=prevalert)&&(curalerts==44))
{
Albase=StringConcatenate(symbol,", TF: ",StrTF(_Period),", PriceDegrees: ","Position ",dtext);
AlSubj=StringConcatenate(Albase," Trend was Up, Strong Bulish");
AlMsg=StringConcatenate(AlSubj," @ ",TimeToStr(TimeLocal(),TIME_SECONDS));
DoAlerts(AlMsg,AlSubj);
prevalert=curalerts;
}
//---
return;
//----
} //-end PosAlerts()
//+------------------------------------------------------------------+
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