RBCI2a
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Overview of the RBCI2 Indicator Logic
This script is a technical analysis tool designed to help traders identify potential price extremes—specifically "overbought" and "oversold" conditions. It operates by calculating a complex moving average of price data and then generating dynamic boundaries to signal when the market might be stretched in one direction or the other.
Core Calculation Logic
The indicator functions based on three primary layers of calculation:
1. The Primary Signal (RBCI2 Wave) At the heart of the script is a weighted mathematical formula that looks back at 55 historical price points. Unlike a simple moving average where every day might carry equal weight, this formula assigns specific positive or negative "weights" to each of those 55 bars. By combining these weights with the closing prices, it creates a smoothed trend line (the RBCI2 wave).
2. The Moving Average Smoothing The script doesn't just look at the current calculation in isolation. It takes the results of the weighted formula over a period of 52 units and calculates their average. This step is designed to filter out "market noise," ensuring that the resulting line represents a more stable trend rather than erratic, momentary price spikes.
3. Dynamic Variance Bands (The Boundaries) Perhaps the most sophisticated part of the logic is how it creates its safety zones. Instead of using fixed horizontal lines, it calculates the Standard Deviation.
- It measures how much the current price movement deviates from the average trend.
- It then projects four distinct boundary levels based on this deviation.
- These boundaries expand when the market is volatile and contract when the market is stable, creating a "breathing" corridor that adjusts to current market conditions.
Visual Components and Alerts
The indicator provides several visual cues on the chart:
- The Wave and Dots: These represent the primary smoothed trend data.
- Four Boundary Lines: These represent the "Maximum," "Overbought," "Oversold," and "Minimum" zones.
Automated Notifications: The script includes an intelligent alert system that monitors the relationship between the current wave and these four boundaries. It is programmed to trigger a notification in three specific scenarios:
- Extreme Exhaustion: If the wave hits the absolute Maximum or Minimum levels, it alerts the user that the market may be at an ultimate turning point.
- Overbought/Oversold Zones: If the wave enters the "Overbought" band (upper region) or the "Oversold" band (lower region), it notifies the trader that the price is stretched and a reversal might be approaching.
- New Bar Filtering: To prevent the system from spamming multiple alerts on a single price movement, it only triggers one notification per candle (at the start of a new bar).
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RBCI2a
//+------------------------------------------------------------------+
//| RBCI2.mq4 |
//| Finware.ru 2003 . Indicator rewritten by CrazyChart |
//| mailto:newcomer2003@yandex.ru |
//+------------------------------------------------------------------+
//double CrazyChart (int i,int shift);
#property copyright "Finware.ru 2003. Indicator rewritten by CrazyChart"
#property link "mailto:newcomer2003@yandex.ru"
#define COMPANY_NAME "MyCompany Ltd."
#property indicator_separate_window
#property indicator_buffers 6
#property indicator_color1 Red //RBCI2 wave
#property indicator_color2 Red //RBCI2 dots
#property indicator_color3 Blue //Overbought band (2nd band)
#property indicator_color4 Aqua //Oversold band (3rd band)
#property indicator_color5 Crimson //Maximum band (1st band from the top)
#property indicator_color6 Gold //Minimum band (4th band)
#property indicator_width1 2
//---- input parameters
extern int CountBars = 500;
extern int ExtParam2;
extern int ExtParam3;
extern double reddd;
extern bool AlertOn = true;
//---- buffers
double ExtMapBuffer1[];
double ExtMapBuffer2[];
double ExtMapBuffer3[];
double ExtMapBuffer4[];
double ExtMapBuffer5[];
double ExtMapBuffer6[];
//+------------------------------------------------------------------+
//| Custom indicator initialization function |
//+------------------------------------------------------------------+
int init()
{
//---- indicators
string short_name;
IndicatorBuffers(6);
SetIndexStyle(0,DRAW_LINE);
SetIndexBuffer(0,ExtMapBuffer1);
SetIndexEmptyValue(0,0.0);
SetIndexDrawBegin(0,55);
SetIndexStyle(1,DRAW_LINE,STYLE_DOT,1,Orchid);
SetIndexBuffer(1,ExtMapBuffer2);
SetIndexEmptyValue(1,0.0);
SetIndexDrawBegin(1,55);
SetIndexStyle(2,DRAW_LINE);
SetIndexBuffer(2,ExtMapBuffer3);
SetIndexEmptyValue(2,0.0);
SetIndexDrawBegin(2,55);
SetIndexStyle(3,DRAW_LINE);
SetIndexBuffer(3,ExtMapBuffer4);
SetIndexEmptyValue(3,0.0);
SetIndexDrawBegin(3,55);
SetIndexStyle(4,DRAW_LINE);
SetIndexBuffer(4,ExtMapBuffer5);
SetIndexEmptyValue(4,0.0);
SetIndexDrawBegin(4,55);
SetIndexStyle(5,DRAW_LINE);
SetIndexBuffer(5,ExtMapBuffer6);
SetIndexEmptyValue(5,0.0);
SetIndexDrawBegin(5,55);
IndicatorDigits(MarketInfo(Symbol(),MODE_DIGITS));
IndicatorShortName("RBCI2");
//----
return(0);
}
//+------------------------------------------------------------------+
//| Custor indicator deinitialization function |
//+------------------------------------------------------------------+
int deinit()
{
//---- TODO: add your code here
//----
return(0);
}
bool NewBar()
{
static datetime lastbar;
datetime curbar = Time[0];
if(lastbar!=curbar)
{
lastbar=curbar;
return (true);
}
else
{
return(false);
}
}
//+------------------------------------------------------------------+
//| Ìîÿ ôóíêöèÿ âû÷èñëÿåò ïåðåìåííóþ ñ öèôðîâûì ôèëüòðîì |
//+------------------------------------------------------------------+
double CrazyChart (int i,int shift)
//function that counts Sum of 55 bars
{
double RBCI2;
RBCI2=
-35.5198140000*Close[i+0+shift]
-29.3302904200*Close[i+1+shift]
-18.4253122700*Close[i+2+shift]
-5.3409716410*Close[i+3+shift]
+7.0224246110*Close[i+4+shift]
+16.1743143600*Close[i+5+shift]
+20.6539163900*Close[i+6+shift]
+20.3238589400*Close[i+7+shift]
+16.2679056100*Close[i+8+shift]
+10.3508317200*Close[i+9+shift]
+4.5956464710*Close[i+10+shift]
+0.5816210219*Close[i+11+shift]
-0.9556878591*Close[i+12+shift]
-0.2188650350*Close[i+13+shift]
+1.8617718350*Close[i+14+shift]
+4.0429772970*Close[i+15+shift]
+5.2336026320*Close[i+16+shift]
+4.8503271170*Close[i+17+shift]
+2.9598818100*Close[i+18+shift]
+0.1813422994*Close[i+19+shift]
-2.5916583950*Close[i+20+shift]
-4.5352277420*Close[i+21+shift]
-5.1799911240*Close[i+22+shift]
-4.5414039780*Close[i+23+shift]
-3.0665332280*Close[i+24+shift]
-1.4306935910*Close[i+25+shift]
-0.2740625440*Close[i+26+shift]
+0.0259294264*Close[i+27+shift]
-0.5361336393*Close[i+28+shift]
-1.6274205570*Close[i+29+shift]
-2.7320093940*Close[i+30+shift]
-3.3584444990*Close[i+31+shift]
-3.2210950120*Close[i+32+shift]
-2.3321664220*Close[i+33+shift]
-0.9758039283*Close[i+34+shift]
+0.4132087314*Close[i+35+shift]
+1.4199522360*Close[i+36+shift]
+1.7965291580*Close[i+37+shift]
+1.5408713520*Close[i+38+shift]
+0.8768248011*Close[i+39+shift]
+0.1561692145*Close[i+40+shift]
-0.2796045774*Close[i+41+shift]
-0.2243863077*Close[i+42+shift]
+0.3279264464*Close[i+43+shift]
+1.1886385970*Close[i+44+shift]
+2.0574048450*Close[i+45+shift]
+2.6265630350*Close[i+46+shift]
+2.6969364910*Close[i+47+shift]
+2.2285276520*Close[i+48+shift]
+1.3534844570*Close[i+49+shift]
+0.3088511323*Close[i+50+shift]
-0.6383119873*Close[i+51+shift]
-1.2763116980*Close[i+52+shift]
-1.5134175380*Close[i+53+shift]
-1.3771978870*Close[i+54+shift]
-1.6154244060*Close[i+55+shift];
return (RBCI2);
}
int start()
{
int limit,counted_bars=IndicatorCounted(),min,i;
if (CountBars>=Bars) CountBars=Bars;
SetIndexDrawBegin(0,Bars-CountBars);
SetIndexDrawBegin(1,Bars-CountBars);
SetIndexDrawBegin(2,Bars-CountBars);
SetIndexDrawBegin(3,Bars-CountBars);
SetIndexDrawBegin(4,Bars-CountBars);
SetIndexDrawBegin(5,Bars-CountBars);
double RBCI2;
double Value1;
int Value2 = 52;
double Value4,Value5,Value6,Value7,Value8,Value9;
// reddd = CrazyChart(2,1); //c hf,jnfkj!!!!!!!!!!!!!!!!!
if (counted_bars<0) return(-1);
//---- last counted bar will be recounted
if (counted_bars>0) counted_bars--;
limit=Bars-counted_bars;
for(i=1;i<=0;i++) ExtMapBuffer1[Bars-i]=0.0;
for (i=limit;i>=0;i--) {
// CountBars i+shift+55
for (int shift=0;shift<=Value2-1;shift++) {
Value4 = Value4-CrazyChart(i,shift);
}
Value1 = -CrazyChart(i,0);
Value5 = Value4 / Value2;
Value6 = 0;
ExtMapBuffer1[i]=-Value5+Value1;// "RBCI2");
ExtMapBuffer2[i]=-Value5+Value1; //"Dots")
for (shift=0;shift<=Value2-1;shift++) {
Value6 = Value6 + (-CrazyChart(i,shift)-Value5)*(-CrazyChart(i,shift)-Value5);
}
Value8 = Value6/(Value2-1);
Value9 = MathSqrt(Value8);
ExtMapBuffer3[i]= +Value9;//,"LINE");
ExtMapBuffer4[i]= -1*Value9;//Plot4(-Value9,"LINE");
ExtMapBuffer5[i]=+2*Value9;//,"LINE");
ExtMapBuffer6[i]=-2*Value9;//,"LINE");
Value4=0;
Value6=0;
}
// ======= Alert =========
if(AlertOn)
{
if((ExtMapBuffer1[0] >= ExtMapBuffer3[0]) && (ExtMapBuffer1[0] < ExtMapBuffer5[0]))
{
if (NewBar())
{
Alert(Symbol(), " M", Period(), " RBCI2 Overbought - Time to Sell?");
}
}
else
if(ExtMapBuffer1[0] >= ExtMapBuffer5[0] )
{
if (NewBar())
{
Alert(Symbol(), " M", Period(), " RBCI2 Max Level = Sell Alert");
}
}
else
if((ExtMapBuffer1[0] <= ExtMapBuffer4[0]) && (ExtMapBuffer1[0] > ExtMapBuffer6[0]) )
{
if (NewBar())
{
Alert(Symbol(), " M", Period(), " RBCI2 Oversold - Time to Buy?");
}
}
else
if(ExtMapBuffer1[0] <= ExtMapBuffer6[0] )
{
if (NewBar())
{
Alert(Symbol(), " M", Period(), " RBCI2 Min Level = Buy Alert");
}
}
// ======= Alert Ends =========
}
return(0);
}
//+------------------------------------------------------------------+
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