SHI_Channel1
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This script is designed to automatically identify and draw a structural trend channel on your trading chart. Instead of relying on simple moving averages, it uses a geometric approach based on historical price extremes to determine the current market direction.
Core Logic Overview
The script operates by scanning recent historical data to find two significant "fractal" points—essentially the peaks and valleys of the market. Once these points are identified, it calculates the trajectory between them to project a linear channel onto your current chart.
How it Works Step-by-Step:
1. Data Scanning and Pattern Recognition The script looks back over a specific number of candles (the "history" window) to find two distinct price turning points. It specifically looks for:
- A significant local high.
- A significant local low.
The range of candles it scans automatically adjusts depending on the timeframe you are using (e.g., it looks further back on daily charts than on 1-minute charts) to ensure the patterns remain relevant to the speed of the market.
2. Channel Calculation Once the two points are found, the script calculates the "slope" or the rate of change between them. It then uses this math to project a linear channel. This results in:
- An Upper Boundary: Representing the ceiling of the current trend.
- A Lower Boundary: Representing the floor of the current trend.
- A Median Line: A dotted center line representing the "fair value" or equilibrium of the channel.
3. Dynamic Adjustments The script doesn't just draw a static line; it performs a check on the most recent price action. It looks for "breaks" in the trend—instances where the current price has pushed outside the established boundaries. If the price breaches a boundary, the script recalculates the anchor points to reflect the new market reality, ensuring the channel stays updated with live movement.
4. Visual Feedback and Statistics In addition to drawing the visual lines on your chart, the script provides a real-time data summary in the corner of your screen. This includes:
- The total size of the channel.
- The exact slope of the trend.
- The specific price levels for the upper and lower boundaries.
Summary for the User
Essentially, this tool acts as an automated trend-mapping assistant. It cleans up the "noise" of the market by identifying the dominant geometric path the price is following, providing you with clear visual boundaries to help identify when a trend is strengthening or potentially exhausting.
/*-----------------------------+
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| Shared by www.Aptrafx.com |
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+------------------------------*/
//+------------------------------------------------------------------+
//| SHI_Channel.mq4 |
//| Copyright © 2004, Shurka & Kevin |
//| |
//+------------------------------------------------------------------+
#property copyright "Copyright © 2004, Shurka & Kevin"
#property link ""
#property indicator_chart_window
#property indicator_buffers 1
#property indicator_color1 Red
double ExtMapBuffer1[];
//---- input parameters
extern int AllBars=240;
extern int BarsForFract=0;
int CurrentBar=0;
double Step=0;
int B1=-1,B2=-1;
int UpDown=0;
double P1=0,P2=0,PP=0;
int i=0,AB=300,BFF=0;
int ishift=0;
double iprice=0;
datetime T1,T2;
//+------------------------------------------------------------------+
//| Custom indicator initialization function |
//+------------------------------------------------------------------+
int init()
{
//---- indicators
SetIndexStyle(0,DRAW_ARROW);
SetIndexArrow(0,164);
SetIndexBuffer(0,ExtMapBuffer1);
SetIndexEmptyValue(0,0.0);
//----
return(0);
}
//+------------------------------------------------------------------+
//| Custor indicator deinitialization function |
//+------------------------------------------------------------------+
int deinit()
{
//----
//----
return(0);
}
void DelObj()
{
ObjectDelete("TL1");
ObjectDelete("TL2");
ObjectDelete("MIDL");
}
//+------------------------------------------------------------------+
//| Custom indicator iteration function |
//+------------------------------------------------------------------+
int start()
{
int counted_bars=IndicatorCounted();
//----
if ((AllBars==0) || (Bars<AllBars)) AB=Bars; else AB=AllBars; //AB-êîëè÷åñòâî îáñ÷èòûâàåìûõ áàðîâ
if (BarsForFract>0)
BFF=BarsForFract;
else
{
switch (Period())
{
case 1: BFF=12; break;
case 5: BFF=48; break;
case 15: BFF=24; break;
case 30: BFF=24; break;
case 60: BFF=12; break;
case 240: BFF=15; break;
case 1440: BFF=10; break;
case 10080: BFF=6; break;
default: DelObj(); return(-1); break;
}
}
CurrentBar=2; //ñ÷èòàåì ñ òðåòüåãî áàðà, ÷òîáû ôðàêòàë "çàêðåïèëñÿ
B1=-1; B2=-1; UpDown=0;
while(((B1==-1) || (B2==-1)) && (CurrentBar<AB))
{
//UpDown=1 çíà÷èò ïåðâûé ôðàêòàë íàéäåí ñâåðõó, UpDown=-1 çíà÷èò ïåðâûé ôðàêòàë
//íàéäåí ñíèçó, UpDown=0 çíà÷èò ôðàêòàë åù¸ íå íàéäåí.
//Â1 è Â2 - íîìåðà áàðîâ ñ ôðàêòàëàìè, ÷åðåç íèõ ñòðîèì îïîðíóþ ëèíèþ.
//Ð1 è Ð2 - ñîîòâåòñòâåííî öåíû ÷åðåç êîòîðûå áóäåì ëèíèþ ïðîâîäèòü
if((UpDown<1) && (CurrentBar==Lowest(Symbol(),Period(),MODE_LOW,BFF*2+1,CurrentBar-BFF)))
{
if(UpDown==0) { UpDown=-1; B1=CurrentBar; P1=Low[B1]; }
else { B2=CurrentBar; P2=Low[B2];}
}
if((UpDown>-1) && (CurrentBar==Highest(Symbol(),Period(),MODE_HIGH,BFF*2+1,CurrentBar-BFF)))
{
if(UpDown==0) { UpDown=1; B1=CurrentBar; P1=High[B1]; }
else { B2=CurrentBar; P2=High[B2]; }
}
CurrentBar++;
}
if((B1==-1) || (B2==-1)) {DelObj(); return(-1);} // Çíà÷èò íå íàøëè ôðàêòàëîâ ñðåäè 300 áàðîâ 8-)
Step=(P2-P1)/(B2-B1);//Âû÷èñëèëè øàã, åñëè îí ïîëîæèòåëüíûé, òî êàíàë íèñõîäÿùèé
P1=P1-B1*Step; B1=0;//ïåðåñòàâëÿåì öåíó è ïåðâûé áàð ê íóëþ
//À òåïåðü îïîðíóþ òî÷êó ïðîòèâîïîëîæíîé ëèíèè êàíàëà.
ishift=0; iprice=0;
if(UpDown==1)
{
PP=Low[2]-2*Step;
for(i=3;i<=B2;i++)
{
if(Low[i]<PP+Step*i) { PP=Low[i]-i*Step; }
}
if(Low[0]<PP) {ishift=0; iprice=PP;}
if(Low[1]<PP+Step) {ishift=1; iprice=PP+Step;}
if(High[0]>P1) {ishift=0; iprice=P1;}
if(High[1]>P1+Step) {ishift=1; iprice=P1+Step;}
}
else
{
PP=High[2]-2*Step;
for(i=3;i<=B2;i++)
{
if(High[i]>PP+Step*i) { PP=High[i]-i*Step;}
}
if(Low[0]<P1) {ishift=0; iprice=P1;}
if(Low[1]<P1+Step) {ishift=1; iprice=P1+Step;}
if(High[0]>PP) {ishift=0; iprice=PP;}
if(High[1]>PP+Step) {ishift=1; iprice=PP+Step;}
}
//Òåïåðü ïåðåñòàâèì êîíå÷íóþ öåíó è áàð íà ÀÂ, ÷òîáû ëèíèè êàíàëà ðèñîâàëèñü ïîäëèííåå
P2=P1+AB*Step;
T1=Time[B1]; T2=Time[AB];
//Åñëè íå áûëî ïåðåñå÷åíèÿ êàíàëà, òî 0, èíà÷å ñòàâèì ïñèñó.
if(iprice!=0) ExtMapBuffer1[ishift]=iprice;
DelObj();
ObjectCreate("TL1",OBJ_TREND,0,T2,PP+Step*AB,T1,PP);
ObjectSet("TL1",OBJPROP_COLOR,Lime);
ObjectSet("TL1",OBJPROP_WIDTH,2);
ObjectSet("TL1",OBJPROP_STYLE,STYLE_SOLID);
ObjectCreate("TL2",OBJ_TREND,0,T2,P2,T1,P1);
ObjectSet("TL2",OBJPROP_COLOR,Lime);
ObjectSet("TL2",OBJPROP_WIDTH,2);
ObjectSet("TL2",OBJPROP_STYLE,STYLE_SOLID);
ObjectCreate("MIDL",OBJ_TREND,0,T2,(P2+PP+Step*AB)/2,T1,(P1+PP)/2);
ObjectSet("MIDL",OBJPROP_COLOR,Lime);
ObjectSet("MIDL",OBJPROP_WIDTH,1);
ObjectSet("MIDL",OBJPROP_STYLE,STYLE_DOT);
double MIDL2=ObjectGet("MIDL",OBJPROP_PRICE2);
double MIDL1=ObjectGet("MIDL",OBJPROP_PRICE1);
double TL1 =ObjectGet("TL1" ,OBJPROP_PRICE2);
double TL2 =ObjectGet("TL2" ,OBJPROP_PRICE2);
Comment("Channel size = ", DoubleToStr(MathAbs(PP - P1)/Point,0), " Slope = ", DoubleToStr(-Step/Point, 2),"\n","Upper SHI = ", TL2, " Lower SHI = ", TL1);
//----
return(0);
}
//+------------------------------------------------------------------+
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