RSTL_v1
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This script is a custom technical analysis indicator designed for the MetaTrader 4 platform. It functions as a sophisticated smoothing and trend-analysis tool that processes historical price data to generate a specific visual line on your trading chart.
Core Logic Overview
The primary objective of this script is to calculate a weighted value based on the closing prices of previous candles. Instead of looking at just one or two recent prices, it examines a significant window of historical data (specifically 99 previous bars) to determine its current output.
How it Works
- Weighted Data Collection: The indicator assigns a unique mathematical "weight" (a specific multiplier) to every single closing price within its look-back period. This means that some historical prices have a much stronger influence on the final result than others.
- Dynamic Calculation: For every new candle that appears on your chart, the script re-calculates this weighted sum. It balances various past price points—some contributing positively and others negatively—to create a stabilized numerical value.
- Visual Representation: The resulting values are plotted as a continuous line (colored in Dark Violet) directly on the price chart. This allows traders to see a filtered version of price action, which can help in identifying broader trends by smoothing out minor market "noise."
Key Characteristics
- Data Requirement: Because the script relies on a large history of data, it requires at least 98 bars of historical information to be present on the chart before it begins to display values accurately.
- Smoothing Effect: By aggregating nearly 100 different price points into a single calculation, the indicator aims to provide a more considered perspective on price movement rather than reacting impulsively to instantaneous fluctuations.
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RSTL_v1
/*-----------------------------+
| |
| Shared by www.Aptrafx.com |
| |
+------------------------------*/
//+------------------------------------------------------------------+
//| RSTL.mq4
//|
//+------------------------------------------------------------------+
#property copyright "Copyright 2002, Finware.ru Ltd."
#property link "http://www.finware.ru/"
#property indicator_chart_window
#property indicator_buffers 1
#property indicator_color1 DarkViolet
//---- buffers
double RSTLBuffer[];
//+------------------------------------------------------------------+
//| Custom indicator initialization function |
//+------------------------------------------------------------------+
int init()
{
string short_name;
//---- indicator line
SetIndexStyle(0,DRAW_LINE);
SetIndexBuffer(0,RSTLBuffer);
SetIndexDrawBegin(0,98);
//----
return(0);
}
//+------------------------------------------------------------------+
//| RSTL |
//+------------------------------------------------------------------+
int start()
{
int i,counted_bars=IndicatorCounted();
//----
if(Bars<=98) return(0);
//---- initial zero
if(counted_bars<98)
for(i=1;i<=0;i++) RSTLBuffer[Bars-i]=0.0;
//----
i=Bars-98-1;
if(counted_bars>=98) i=Bars-counted_bars-1;
while(i>=0)
{
RSTLBuffer[i]=
-0.00514293*Close[i+0]
-0.00398417*Close[i+1]
-0.00262594*Close[i+2]
-0.00107121*Close[i+3]
+0.00066887*Close[i+4]
+0.00258172*Close[i+5]
+0.00465269*Close[i+6]
+0.00686394*Close[i+7]
+0.00919334*Close[i+8]
+0.01161720*Close[i+9]
+0.01411056*Close[i+10]
+0.01664635*Close[i+11]
+0.01919533*Close[i+12]
+0.02172747*Close[i+13]
+0.02421320*Close[i+14]
+0.02662203*Close[i+15]
+0.02892446*Close[i+16]
+0.03109071*Close[i+17]
+0.03309496*Close[i+18]
+0.03490921*Close[i+19]
+0.03651145*Close[i+20]
+0.03788045*Close[i+21]
+0.03899804*Close[i+22]
+0.03984915*Close[i+23]
+0.04042329*Close[i+24]
+0.04071263*Close[i+25]
+0.04071263*Close[i+26]
+0.04042329*Close[i+27]
+0.03984915*Close[i+28]
+0.03899804*Close[i+29]
+0.03788045*Close[i+30]
+0.03651145*Close[i+31]
+0.03490921*Close[i+32]
+0.03309496*Close[i+33]
+0.03109071*Close[i+34]
+0.02892446*Close[i+35]
+0.02662203*Close[i+36]
+0.02421320*Close[i+37]
+0.02172747*Close[i+38]
+0.01919533*Close[i+39]
+0.01664635*Close[i+40]
+0.01411056*Close[i+41]
+0.01161720*Close[i+42]
+0.00919334*Close[i+43]
+0.00686394*Close[i+44]
+0.00465269*Close[i+45]
+0.00258172*Close[i+46]
+0.00066887*Close[i+47]
-0.00107121*Close[i+48]
-0.00262594*Close[i+49]
-0.00398417*Close[i+50]
-0.00514293*Close[i+51]
-0.00609634*Close[i+52]
-0.00684602*Close[i+53]
-0.00739452*Close[i+54]
-0.00774847*Close[i+55]
-0.00791630*Close[i+56]
-0.00790940*Close[i+57]
-0.00774085*Close[i+58]
-0.00742482*Close[i+59]
-0.00697718*Close[i+60]
-0.00641613*Close[i+61]
-0.00576108*Close[i+62]
-0.00502957*Close[i+63]
-0.00423873*Close[i+64]
-0.00340812*Close[i+65]
-0.00255923*Close[i+66]
-0.00170217*Close[i+67]
-0.00085902*Close[i+68]
-0.00004113*Close[i+69]
+0.00073700*Close[i+70]
+0.00146422*Close[i+71]
+0.00213007*Close[i+72]
+0.00272649*Close[i+73]
+0.00324752*Close[i+74]
+0.00368922*Close[i+75]
+0.00405000*Close[i+76]
+0.00433024*Close[i+77]
+0.00453068*Close[i+78]
+0.00465046*Close[i+79]
+0.00469058*Close[i+80]
+0.00466041*Close[i+81]
+0.00457855*Close[i+82]
+0.00442491*Close[i+83]
+0.00423019*Close[i+84]
+0.00399201*Close[i+85]
+0.00372169*Close[i+86]
+0.00342736*Close[i+87]
+0.00311822*Close[i+88]
+0.00280309*Close[i+89]
+0.00249088*Close[i+90]
+0.00219089*Close[i+91]
+0.00191283*Close[i+92]
+0.00166683*Close[i+93]
+0.00146419*Close[i+94]
+0.00131867*Close[i+95]
+0.00124645*Close[i+96]
+0.00126836*Close[i+97]
-0.00401854*Close[i+98];
i--;
}
return(0);
}
//+------------------------------------------------------------------+
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