The StepUpDown indicator is designed to assist traders in identifying potential price direction trends by analyzing historical price movements and local extremes. Rather than just reacting to every small fluctuation, the logic focuses on identifying specific "steps" or turns in the market trend.
Core Logic Overview
The script functions by scanning recent price data to determine whether the current momentum is shifting toward a "Buy" or "Sell" bias. It accomplishes this through several key processes:
1. Trend Smoothing The indicator utilizes a moving average calculation (specifically a Smoothed Moving Average) over a 20-period window. This helps establish a baseline of price movement, ensuring that the signals are based on a stabilized trend rather than random market noise.
2. Peak and Trough Detection The logic looks at a specific lookback period (the last 7 bars) to identify two critical points:
- Highest Highs: The peak price reached in that timeframe.
- Lowest Lows: The lowest price reached in that timeframe.
3. Directional Analysis The indicator compares the current price position against these identified highs and lows to categorize the market direction:
- Buy Signals: These are triggered when the current price shows strength relative to the recent local lows. If the logic detects that the price is holding above certain low points or breaking out from a base, it classifies the movement as an upward "step."
- Sell Signals: Conversely, if the current price shows weakness relative to recent local highs—specifically if it fails to hold above those peaks or drops below them—the script identifies a downward "step."
4. Visual Execution Once the logic determines a shift in direction, it provides immediate visual feedback on your chart:
- Buy Labels: When an upward movement is confirmed, the script places a "BUY" text label and an accompanying arrow on the chart in an aquamarine color.
- Sell Labels: When a downward movement is confirmed, the script places a "SELL" text label and an accompanying arrow in a snow-white color.
Summary for the User
Essentially, this tool acts as a visual guide that filters out minor market jitters to highlight significant price "steps." It automates the process of looking back at recent highs and lows to tell you where the immediate pressure is moving, marking the entry points with clear labels so you can see the trend direction at a glance.
Price Data Components
Indicators Used
Miscellaneous
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stepupdown
//+------------------------------------------------------------------+
//| StepUpDown.mq4 |
//| Copyright 2014, Roy Philips Jacobs ~ 28/03/2014 |
//| Create: 28/03/2014 http://www.gol2you.com ~ Forex Videos |
//+------------------------------------------------------------------+
#property copyright "Copyright 2014, Roy Philips Jacobs"
#property link "http://www.gol2you.com ~ Forex Videos"
#property description "Price Direction movement Step Up and Down Forex Indicator"
//---
//--- indicator parameters
#property indicator_chart_window
#property indicator_buffers 1
#property indicator_color1 clrRed
#property indicator_width1 1
//--
extern string PriceDirection="Copyright © 2014 3RJ ~ Roy Philips-Jacobs";
//-- indicator buffer
double ma20c[];
//--
void EventSetTimer();
string symbol;
string CR;
//---
//+------------------------------------------------------------------+
//| Custom indicator initialization function |
//+------------------------------------------------------------------+
void OnInit(void)
{
//--
symbol=_Symbol;
CR="Copyright © 2014 3RJ ~ Roy Philips-Jacobs";
//----
IndicatorBuffers(1);
//--- 1 indicator buffers mapping
SetIndexBuffer(0,ma20c);
//--- indicator line drawing
SetIndexStyle(0,DRAW_LINE,STYLE_SOLID,EMPTY,clrRed);
//--- name for DataWindow and indicator subwindow label
SetIndexLabel(0,"BuySellLimit");
//--
IndicatorShortName("StepUpDown");
IndicatorDigits(Digits);
//--
//--- initialization done
return;
}
//+------------------------------------------------------------------+
//| Custom indicator deinitialization function |
//+------------------------------------------------------------------+
void OnDeinit(const int reason)
{
//----
EventKillTimer();
GlobalVariablesDeleteAll();
//--
ObjectDelete("DirBUY");
ObjectDelete("DirSELL");
ObjectDelete("DirBUYArr");
ObjectDelete("DirSELLArr");
//----
return;
}
//+------------------------------------------------------------------+
//| Custom indicator iteration function |
//+------------------------------------------------------------------+
//---
int OnCalculate (const int rates_total,
const int prev_calculated,
const datetime& time[],
const double& open[],
const double& high[],
const double& low[],
const double& close[],
const long& tick_volume[],
const long& volume[],
const int& spread[])
{
//------
if (PriceDirection!=CR) return(0);
//--
ResetLastError();
int i;
int per=7;
WindowRedraw();
Sleep(500);
RefreshRates();
int pos=WindowFirstVisibleBar();
//--
double His[],Los[];
bool dirBuy,dirSell;
//--
ArraySetAsSeries(His,true);
ArraySetAsSeries(Los,true);
//----
RefreshRates();
//--
for(i=0; i<pos; i++)
{
//--
ma20c[i]=iMA(symbol,0,20,0,MODE_SMMA,PRICE_MEDIAN,i);
//--
int posH=iHighest(symbol,0,MODE_HIGH,per,i);
int posL=iLowest(symbol,0,MODE_LOW,per,i);
if((posH>posL)&&(iLow(symbol,0,i)>=iLow(symbol,0,posL))) {dirBuy=TRUE; dirSell=FALSE;}
if((posH>posL)&&(iLow(symbol,0,i)<=iLow(symbol,0,posL))) {dirSell=TRUE; dirBuy=FALSE;}
if((posH<posL)&&(iHigh(symbol,0,i)<=iHigh(symbol,0,posH))) {dirSell=TRUE; dirBuy=FALSE;}
if((posH<posL)&&(iHigh(symbol,0,i)>=iHigh(symbol,0,posH))) {dirBuy=TRUE; dirSell=FALSE;}
//--
//--
if(i==0)
{
//---
ObjectDelete("DirBUY");
ObjectDelete("DirSELL");
ObjectDelete("DirBUYArr");
ObjectDelete("DirSELLArr");
//--
if(dirBuy) // Buy direction
{
if(ObjectFind(0,"DirBUY")<0)
{
ObjectCreate(0,"DirBUY",OBJ_TEXT,0,Time[posL],Low[posL]);
ObjectSetString(0,"DirBUY",OBJPROP_TEXT,StringConcatenate(" BUY"));
ObjectSetInteger(0,"DirBUY",OBJPROP_COLOR,clrAquamarine);
ObjectSetString(0,"DirBUY",OBJPROP_FONT,"Bodoni MT Black");
ObjectSetInteger(0,"DirBUY",OBJPROP_FONTSIZE,9);
ObjectSetInteger(0,"DirBUY",OBJPROP_ANCHOR,ANCHOR_LEFT_UPPER);
//--
ObjectCreate(0,"DirBUYArr",OBJ_TEXT,0,Time[posL-1],Low[posL]);
ObjectSetString(0,"DirBUYArr",OBJPROP_TEXT,CharToStr(217));
ObjectSetInteger(0,"DirBUYArr",OBJPROP_COLOR,clrAquamarine);
ObjectSetString(0,"DirBUYArr",OBJPROP_FONT,"Wingdings");
ObjectSetInteger(0,"DirBUYArr",OBJPROP_FONTSIZE,15);
ObjectSetInteger(0,"DirBUYArr",OBJPROP_ANCHOR,ANCHOR_RIGHT_UPPER);
}
else
{
ObjectSetString(0,"DirBUY",OBJPROP_TEXT,StringConcatenate(" BUY"));
ObjectSetInteger(0,"DirBUY",OBJPROP_COLOR,clrAquamarine);
ObjectSetString(0,"DirBUY",OBJPROP_FONT,"Bodoni MT Black");
ObjectSetInteger(0,"DirBUY",OBJPROP_FONTSIZE,9);
ObjectSetInteger(0,"DirBUY",OBJPROP_ANCHOR,ANCHOR_LEFT_UPPER);
//--
ObjectSetString(0,"DirBUYArr",OBJPROP_TEXT,CharToStr(217));
ObjectSetInteger(0,"DirBUYArr",OBJPROP_COLOR,clrAquamarine);
ObjectSetString(0,"DirBUYArr",OBJPROP_FONT,"Wingdings");
ObjectSetInteger(0,"DirBUYArr",OBJPROP_FONTSIZE,15);
ObjectSetInteger(0,"DirBUYArr",OBJPROP_ANCHOR,ANCHOR_RIGHT_UPPER);
}
//--
ChartRedraw(0);
WindowRedraw();
Sleep(1000);
RefreshRates();
//--
}
//---
if(dirSell) // Sell direction
{
if(ObjectFind(0,"DirSELL")<0)
{
ObjectCreate(0,"DirSELL",OBJ_TEXT,0,Time[posH],High[posH]);
ObjectSetString(0,"DirSELL",OBJPROP_TEXT,StringConcatenate(" SELL"));
ObjectSetInteger(0,"DirSELL",OBJPROP_COLOR,clrSnow);
ObjectSetString(0,"DirSELL",OBJPROP_FONT,"Bodoni MT Black");
ObjectSetInteger(0,"DirSELL",OBJPROP_FONTSIZE,9);
ObjectSetInteger(0,"DirSELL",OBJPROP_ANCHOR,ANCHOR_LEFT_LOWER);
//--
ObjectCreate(0,"DirSELLArr",OBJ_TEXT,0,Time[posH-1],High[posH]);
ObjectSetString(0,"DirSELLArr",OBJPROP_TEXT,CharToStr(218));
ObjectSetInteger(0,"DirSELLArr",OBJPROP_COLOR,clrSnow);
ObjectSetString(0,"DirSELLArr",OBJPROP_FONT,"Wingdings");
ObjectSetInteger(0,"DirSELLArr",OBJPROP_FONTSIZE,15);
ObjectSetInteger(0,"DirSELLArr",OBJPROP_ANCHOR,ANCHOR_RIGHT_LOWER);
}
else
{
ObjectSetString(0,"DirSELL",OBJPROP_TEXT,StringConcatenate(" SELL"));
ObjectSetInteger(0,"DirSELL",OBJPROP_COLOR,clrSnow);
ObjectSetString(0,"DirSELL",OBJPROP_FONT,"Bodoni MT Black");
ObjectSetInteger(0,"DirSELL",OBJPROP_FONTSIZE,9);
ObjectSetInteger(0,"DirSELL",OBJPROP_ANCHOR,ANCHOR_LEFT_LOWER);
//--
ObjectSetString(0,"DirSELLArr",OBJPROP_TEXT,CharToStr(218));
ObjectSetInteger(0,"DirSELLArr",OBJPROP_COLOR,clrSnow);
ObjectSetString(0,"DirSELLArr",OBJPROP_FONT,"Wingdings");
ObjectSetInteger(0,"DirSELLArr",OBJPROP_FONTSIZE,15);
ObjectSetInteger(0,"DirSELLArr",OBJPROP_ANCHOR,ANCHOR_RIGHT_LOWER);
}
//--
ChartRedraw(0);
WindowRedraw();
Sleep(1000);
RefreshRates();
//--
}
//--- end if(i)
}
//-- end for(i)
}
//----- done
return(rates_total);
}
//-----
//+------------------------------------------------------------------+
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