RBCI_v2
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This tool is a specialized financial indicator designed for the MetaTrader platform to help traders analyze price movements. Instead of focusing on a single data point, it looks at the broader context of market history to generate a smoothed trend line.
How the Logic Works
The script operates by examining a specific window of historical data—specifically looking back at the closing prices of the last 56 candles (bars) on a chart. Rather than simply averaging these prices, the logic uses a sophisticated weighted calculation.
Key characteristics of this process include:
- Weighted Influence: Not every price point is treated equally. The script assigns a unique numerical weight to each of the 56 historical closing prices. Some recent prices have a much higher impact on the final result, while older prices are scaled down significantly.
- Complex Smoothing: By applying these specific weights, the indicator filters out "market noise" (minor, insignificant price fluctuations) to reveal the underlying direction of the asset. This helps in identifying whether the overall momentum is moving upward or downward over a medium-term period.
- Data Requirements: For the logic to function correctly, the chart must have at least 55 bars of data available. If there is insufficient history, the indicator will remain inactive until enough data is loaded.
Visual Output
The result of these calculations is displayed as a smooth blue line in a separate window below your main price chart. By observing this line, traders can get a clearer picture of the smoothed trend, making it easier to distinguish between temporary price spikes and sustained market movements.
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RBCI_v2
//+------------------------------------------------------------------+
//| RBCI.mq4 |
//| |
//+------------------------------------------------------------------+
#property copyright "Copyright 2002, Finware.ru Ltd."
#property link "http://www.finware.ru/"
//----
#property indicator_separate_window
#property indicator_buffers 1
#property indicator_color1 Blue
//---- buffers
double RBCIBuffer[];
//+------------------------------------------------------------------+
//| Custom indicator initialization function |
//+------------------------------------------------------------------+
int init()
{
string short_name;
//---- indicator line
SetIndexStyle(0,DRAW_LINE);
SetIndexBuffer(0,RBCIBuffer);
SetIndexDrawBegin(0,55);
//----
return(0);
}
//+------------------------------------------------------------------+
//| RBCI |
//+------------------------------------------------------------------+
int start()
{
int i,counted_bars=IndicatorCounted();
//----
if(Bars<=55) return(0);
//---- initial zero
if(counted_bars<55)
for(i=1;i<=0;i++) RBCIBuffer[Bars-i]=0.0;
//----
i=Bars-55-1;
if(counted_bars>=55) i=Bars-counted_bars-1;
while(i>=0)
{
RBCIBuffer[i]=
-(
-35.5241819400*Close[i+0]
-29.3339896500*Close[i+1]
-18.4277449600*Close[i+2]
-5.3418475670*Close[i+3]
+7.0231636950*Close[i+4]
+16.1762815600*Close[i+5]
+20.6566210400*Close[i+6]
+20.3266115800*Close[i+7]
+16.2702390600*Close[i+8]
+10.3524012700*Close[i+9]
+4.5964239920*Close[i+10]
+0.5817527531*Close[i+11]
-0.9559211961*Close[i+12]
-0.2191111431*Close[i+13]
+1.8617342810*Close[i+14]
+4.0433304300*Close[i+15]
+5.2342243280*Close[i+16]
+4.8510862920*Close[i+17]
+2.9604408870*Close[i+18]
+0.1815496232*Close[i+19]
-2.5919387010*Close[i+20]
-4.5358834460*Close[i+21]
-5.1808556950*Close[i+22]
-4.5422535300*Close[i+23]
-3.0671459820*Close[i+24]
-1.4310126580*Close[i+25]
-0.2740437883*Close[i+26]
+0.0260722294*Close[i+27]
-0.5359717954*Close[i+28]
-1.6274916400*Close[i+29]
-2.7322958560*Close[i+30]
-3.3589596820*Close[i+31]
-3.2216514550*Close[i+32]
-2.3326257940*Close[i+33]
-0.9760510577*Close[i+34]
+0.4132650195*Close[i+35]
+1.4202166770*Close[i+36]
+1.7969987350*Close[i+37]
+1.5412722800*Close[i+38]
+0.8771442423*Close[i+39]
+0.1561848839*Close[i+40]
-0.2797065802*Close[i+41]
-0.2245901578*Close[i+42]
+0.3278853523*Close[i+43]
+1.1887841480*Close[i+44]
+2.0577410750*Close[i+45]
+2.6270409820*Close[i+46]
+2.6973742340*Close[i+47]
+2.2289941280*Close[i+48]
+1.3536792430*Close[i+49]
+0.3089253193*Close[i+50]
-0.6386689841*Close[i+51]
-1.2766707670*Close[i+52]
-1.5136918450*Close[i+53]
-1.3775160780*Close[i+54]
-1.6156173970*Close[i+55]);
i--;
}
return(0);
}
//+------------------------------------------------------------------+
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