SHI_SilverTrendSig-alert-A
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This tool is designed to help traders identify potential trend reversals by analyzing price action and historical highs or lows. It essentially acts as a visual signal on your chart, pinpointing moments where the market's momentum might be shifting from one direction to another.
How the Logic Works
The script operates by scanning the price history to identify significant "peaks" and "valleys." Here is the step-by-step breakdown of how it processes data:
1. Defining the Range The tool looks at a specific number of previous candles (determined by your settings) to find the highest price point and the lowest price point reached during that period. This establishes the "trading zone" for that timeframe.
2. Measuring Volatility It calculates a custom value based on the distance between the highs and lows of recent candles. This helps the script understand the current intensity of the market movement, ensuring that signals are adjusted relative to how much the price is actually swinging.
3. Identifying Signals The core logic monitors where the current price sits in relation to those historical peaks and valleys:
- Buy Signals: If the price closes near the top of a recent range (reaching a specific percentage threshold defined by the "Step back" setting), it identifies a potential upward trend. A visual arrow will appear on the chart to alert you to this movement.
- Sell Signals: Conversely, if the price closes near the bottom of a recent range, it identifies a potential downward trend and places a corresponding visual arrow to signal a possible sell opportunity.
4. Filtering and Alerts To prevent the chart from being cluttered with constant signals, the logic includes a "state" check. It ensures that the indicator only notifies you when the trend actually flips (e.g., it won't keep signaling "Buy" repeatedly if the market is already in an upward trend).
Additionally, for active trading:
- Visual Cues: It places distinct lime and red arrows on your candles.
- Auditory/Pop-up Alerts: You can enable notifications so that the software provides a sound alert and a pop-up message immediately when a new trend direction is detected, allowing you to react quickly without constantly staring at the screen.
Summary for the User
Think of this script as an automated "trend watcher." It looks back at what happened in the recent past to decide if the current price movement is significant enough to warrant a change in direction. When it detects that the price is pushing against a historical boundary, it alerts you to the new trend.
//+------------------------------------------------------------------+
//| SHI_SilverTrendSig.mq4 |
//| Copyright © 2003, VIAC.RU, OlegVS, GOODMAN, 2005 Shurka |
//| shforex@narod.ru |
//| |
//| |
//| Ïèøó ïðîãðàììû íà çàêàç |
//+------------------------------------------------------------------+
#property copyright "Copyright © 2005, Shurka"
#property link "http://shforex.narod.ru"
#property indicator_chart_window
#property indicator_buffers 2
#property indicator_color1 Lime
#property indicator_color2 Red
#define SH_BUY 1
#define SH_SELL -1
//---- Âõîäíûå ïàðàìåòðû
extern int AllBars=0;//How many bars should be counted. 0 - all the bars.
extern int Otstup=17;//Step back.
extern double Per=13;//Period.
extern string
Alert_Setting = "---------- Alert Setting";
extern bool
EnableAlert = true;
extern string
SoundFilename = "alert.wav";
int SH,NB,i,UD,x=0,y=0,a=0,b=0;
double R,SHMax,SHMin;
double BufD[];
double BufU[];
//+------------------------------------------------------------------+
//| Ôóíêöèÿ èíèöèàëèçàöèè |
//+------------------------------------------------------------------+
int init()
{
//We will write the number of the bars for which we are counting to the NB
if (Bars<AllBars+Per || AllBars==0) NB=Bars-Per; else NB=AllBars;
IndicatorBuffers(2);
IndicatorShortName("SHI_SilverTrendSig");
SetIndexStyle(0,DRAW_ARROW,0,2);
SetIndexStyle(1,DRAW_ARROW,0,2);
SetIndexArrow(0,159);
SetIndexArrow(1,159);
SetIndexBuffer(0,BufU);
SetIndexBuffer(1,BufD);
SetIndexDrawBegin(0,Bars-NB);//This indicator will be shown for NB bar only
SetIndexDrawBegin(1,Bars-NB);
ArrayInitialize(BufD,0.0);//Give a lot of "zero" to the buffe. Otherwise it will be garbage during the changing of time frame.
ArrayInitialize(BufU,0.0);
return(0);
}
//+------------------------------------------------------------------+
//| Ôóíêöèÿ äåèíèöèàëèçàöèè |
//+------------------------------------------------------------------+
int deinit()
{
return(0);
}
//+------------------------------------------------------------------+
//| Ñîáñíà èíäèêàòîð |
//+------------------------------------------------------------------+
int start()
{
int CB=IndicatorCounted();
/* It is the optimization option. We have the function here which restore/return the number of counted bars in very special way.
During the first indicator's call we have 0: it is normal because it was not counted anything,
and then we receive the number of bars minus 1. For example, if the number of bars equal 100,
we will have 99. I did it especially, you may see that NB is the number of bars whioch should be counted.
You know we may throw out this parameter. But for the people who understand we may keep it. So, during the first call
of indicator this NB is the same one but during the 2dn etc calls - reducing the value up to the last bar,
That is 1 or 2 for example*/
if(CB<0) return(-1); else if(NB>Bars-CB) NB=Bars-CB;
for (SH=1;SH<NB;SH++)//comb out the chart from 1 to NB
{
for (R=0,i=SH;i<SH+10;i++) {R+=(10+SH-i)*(High[i]-Low[i]);} R/=55;
SHMax = High[Highest(NULL,0,MODE_HIGH,Per,SH)];
SHMin = Low[Lowest(NULL,0,MODE_LOW,Per,SH)];
if (Close[SH]>SHMax-(SHMax-SHMin)*Otstup/100 && UD!=SH_BUY) { BufD[SH]=High[SH]+R*0.5;
if (Close[SH]>SHMax-(SHMax-SHMin)*Otstup/100 && UD!=SH_BUY) UD=SH_BUY;
if (Close[SH]>SHMax-(SHMax-SHMin)*Otstup/100 && UD!=SH_BUY) y=0;//x=x+1;
}
else
if (Close[SH]<SHMin+(SHMax-SHMin)*Otstup/100 && UD!=SH_SELL) { BufU[SH]=Low[SH]-R*0.5;
if (Close[SH]<SHMin+(SHMax-SHMin)*Otstup/100 && UD!=SH_SELL)UD=SH_SELL;
if (Close[SH]<SHMin+(SHMax-SHMin)*Otstup/100 && UD!=SH_SELL) x=0;//y=y+1;
}
}
//----------------------- ALERT ON UP / DOWN DOT
if(EnableAlert)
{
string AlertComment;
if(UD==SH_BUY && x==1) Alert(Symbol(), " - ", "BUY - UP DIRECTION !");
if(UD==SH_BUY && x==1) Alert(AlertComment);
if(UD==SH_BUY && x==1) PlaySound(SoundFilename);
if(UD==SH_BUY && x==1) x=x+1;
if(UD==SH_SELL && y==1) Alert(Symbol(), " - ", "SELL - DOWN DIRECTION !");
if(UD==SH_SELL && y==1) Alert(AlertComment);
if(UD==SH_SELL && y==1) PlaySound(SoundFilename);
if(UD==SH_SELL && y==1) y=y+1;
}
//----------------------- END FUNCTION
return(0);
}
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