STLM2_v2

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STLM2_v2

This technical script functions as a specialized market indicator designed to visualize price trends and momentum through a histogram. Below is a non-technical breakdown of how the logic operates:

Core Purpose

The primary goal of this tool is to identify "upward" or "downward" pressure in the market by analyzing the historical relationship between past closing prices and current price action. It produces a visual signal (a green or red histogram) that helps a trader see whether the momentum is currently leaning in a positive or negative direction.

How the Logic Works

Instead of looking at just the most recent price change, the script uses a sophisticated mathematical approach to evaluate history:

  • Weighted Calculation: The tool looks back at a large window of historical data points (specifically 91 bars). It assigns a unique "weight" or significance level to each of these past prices. Some past prices have a high influence on the current calculation, while others have a very small or even negative influence.
  • Two-Step Comparison: The logic performs this complex weighted calculation twice.
    • The first calculation represents the momentum of the current market state.
    • The second calculation represents the momentum of the immediate preceding state (shifted by one step).
  • Momentum Gap Analysis: By subtracting these two results from each other, the script determines the "net change" in momentum. It is essentially measuring the acceleration or deceleration of the price movement.

Visual Output

The final result is translated into a clear visual indicator on your chart:

  • Positive Momentum: If the current weighted calculation is higher than the previous one, the script registers an "Up" move and displays a Lime (Green) histogram.
  • Negative Momentum: If the current weighted calculation is lower than the previous one, it registers a "Down" move and displays a Red histogram.

Key User Settings

  • CountBars: This allows you to define how much historical data the tool should process to generate its signals.
  • TimeFrame: This ensures the logic remains consistent across different trading periods (e.g., moving from a 1-minute chart to a 4-hour chart).
Miscellaneous
Implements a curve of type %1
10 Views
0 Downloads
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STLM2_v2 
/*-----------------------------+
|			       |
| Shared by www.Aptrafx.com    |
|			       |
+------------------------------*/

//+------------------------------------------------------------------+
//| STLM_hist.mq4 
//| Ramdass - Conversion only
//+------------------------------------------------------------------+

#property indicator_separate_window
#property indicator_buffers 2
#property indicator_color1 Lime
#property indicator_color2 Red

extern int TimeFrame=0;
extern int CountBars=300;
//---- buffers
double Up[];
double Down[];
//+------------------------------------------------------------------+
//| Custom indicator initialization function                         |
//+------------------------------------------------------------------+
int init()
  {
   string short_name;
//---- indicator line
   IndicatorBuffers(2);
   SetIndexStyle(0,DRAW_HISTOGRAM,STYLE_SOLID,2);
   SetIndexBuffer(0,Up);
   SetIndexStyle(1,DRAW_HISTOGRAM,STYLE_SOLID,2);
   SetIndexBuffer(1,Down);
//----
   return(0);
  }
//+------------------------------------------------------------------+
//| STLM                                                             |
//+------------------------------------------------------------------+
int start()
  {
   SetIndexDrawBegin(0,Bars-CountBars+90);
   SetIndexDrawBegin(1,Bars-CountBars+90);
   int i,i2,counted_bars=IndicatorCounted();
   double STLM,STLM1,value1,value2,value3,value4;
//----
   if(Bars<=90) return(0);
//---- initial zero
   if(counted_bars<90)
   {
      for(i=1;i<=0;i++) Up[CountBars-i]=0.0;
      for(i=1;i<=0;i++) Down[CountBars-i]=0.0;
   }
//----
   i=CountBars-90-1;
//   if(counted_bars>=90) i=Bars-counted_bars-1;
   while(i>=0)
     {

value1 =
0.0982862174*Close[i+0]
+0.0975682269*Close[i+1]
+0.0961401078*Close[i+2]
+0.0940230544*Close[i+3]
+0.0912437090*Close[i+4]
+0.0878391006*Close[i+5]
+0.0838544303*Close[i+6]
+0.0793406350*Close[i+7]
+0.0743569346*Close[i+8]
+0.0689666682*Close[i+9]
+0.0632381578*Close[i+10]
+0.0572428925*Close[i+11]
+0.0510534242*Close[i+12]
+0.0447468229*Close[i+13]
+0.0383959950*Close[i+14]
+0.0320735368*Close[i+15]
+0.0258537721*Close[i+16]
+0.0198005183*Close[i+17]
+0.0139807863*Close[i+18]
+0.0084512448*Close[i+19]
+0.0032639979*Close[i+20]
-0.0015350359*Close[i+21]
-0.0059060082*Close[i+22]
-0.0098190256*Close[i+23]
-0.0132507215*Close[i+24]
-0.0161875265*Close[i+25]
-0.0186164872*Close[i+26]
-0.0205446727*Close[i+27]
-0.0219739146*Close[i+28]
-0.0229204861*Close[i+29]
-0.0234080863*Close[i+30]
-0.0234566315*Close[i+31]
-0.0231017777*Close[i+32]
-0.0223796900*Close[i+33]
-0.0213300463*Close[i+34]
-0.0199924534*Close[i+35]
-0.0184126992*Close[i+36]
-0.0166377699*Close[i+37]
-0.0147139428*Close[i+38]
-0.0126796776*Close[i+39]
-0.0105938331*Close[i+40]
-0.0084736770*Close[i+41]
-0.0063841850*Close[i+42]
-0.0043466731*Close[i+43]
-0.0023956944*Close[i+44]
-0.0005535180*Close[i+45]
+0.0011421469*Close[i+46]
+0.0026845693*Close[i+47]
+0.0040471369*Close[i+48]
+0.0052380201*Close[i+49]
+0.0062194591*Close[i+50]
+0.0070340085*Close[i+51]
+0.0076266453*Close[i+52]
+0.0080376628*Close[i+53]
+0.0083037666*Close[i+54]
+0.0083694798*Close[i+55]
+0.0082901022*Close[i+56]
+0.0080741359*Close[i+57]
+0.0077543820*Close[i+58]
+0.0073260526*Close[i+59]
+0.0068163569*Close[i+60]
+0.0062325477*Close[i+61]
+0.0056078229*Close[i+62]
+0.0049516078*Close[i+63]
+0.0161380976*Close[i+64];

value2 =
-0.0074151919*Close[i+0]
-0.0060698985*Close[i+1]
-0.0044979052*Close[i+2]
-0.0027054278*Close[i+3]
-0.0007031702*Close[i+4]
+0.0014951741*Close[i+5]
+0.0038713513*Close[i+6]
+0.0064043271*Close[i+7]
+0.0090702334*Close[i+8]
+0.0118431116*Close[i+9]
+0.0146922652*Close[i+10]
+0.0175884606*Close[i+11]
+0.0204976517*Close[i+12]
+0.0233865835*Close[i+13]
+0.0262218588*Close[i+14]
+0.0289681736*Close[i+15]
+0.0315922931*Close[i+16]
+0.0340614696*Close[i+17]
+0.0363444061*Close[i+18]
+0.0384120882*Close[i+19]
+0.0402373884*Close[i+20]
+0.0417969735*Close[i+21]
+0.0430701377*Close[i+22]
+0.0440399188*Close[i+23]
+0.0446941124*Close[i+24]
+0.0450230100*Close[i+25]
+0.0450230100*Close[i+26]
+0.0446941124*Close[i+27]
+0.0440399188*Close[i+28]
+0.0430701377*Close[i+29]
+0.0417969735*Close[i+30]
+0.0402373884*Close[i+31]
+0.0384120882*Close[i+32]
+0.0363444061*Close[i+33]
+0.0340614696*Close[i+34]
+0.0315922931*Close[i+35]
+0.0289681736*Close[i+36]
+0.0262218588*Close[i+37]
+0.0233865835*Close[i+38]
+0.0204976517*Close[i+39]
+0.0175884606*Close[i+40]
+0.0146922652*Close[i+41]
+0.0118431116*Close[i+42]
+0.0090702334*Close[i+43]
+0.0064043271*Close[i+44]
+0.0038713513*Close[i+45]
+0.0014951741*Close[i+46]
-0.0007031702*Close[i+47]
-0.0027054278*Close[i+48]
-0.0044979052*Close[i+49]
-0.0060698985*Close[i+50]
-0.0074151919*Close[i+51]
-0.0085278517*Close[i+52]
-0.0094111161*Close[i+53]
-0.0100658241*Close[i+54]
-0.0104994302*Close[i+55]
-0.0107227904*Close[i+56]
-0.0107450280*Close[i+57]
-0.0105824763*Close[i+58]
-0.0102517019*Close[i+59]
-0.0097708805*Close[i+60]
-0.0091581551*Close[i+61]
-0.0084345004*Close[i+62]
-0.0076214397*Close[i+63]
-0.0067401718*Close[i+64]
-0.0058083144*Close[i+65]
-0.0048528295*Close[i+66]
-0.0038816271*Close[i+67]
-0.0029244713*Close[i+68]
-0.0019911267*Close[i+69]
-0.0010974211*Close[i+70]
-0.0002535559*Close[i+71]
+0.0005231953*Close[i+72]
+0.0012297491*Close[i+73]
+0.0018539149*Close[i+74]
+0.0023994354*Close[i+75]
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+0.0032221429*Close[i+77]
+0.0034936183*Close[i+78]
+0.0036818974*Close[i+79]
+0.0038037944*Close[i+80]
+0.0038338964*Close[i+81]
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+0.0036986051*Close[i+83]
+0.0035521320*Close[i+84]
+0.0033559226*Close[i+85]
+0.0031224409*Close[i+86]
+0.0028550092*Close[i+87]
+0.0025688349*Close[i+88]
+0.0022682355*Close[i+89]
+0.0073925495*Close[i+90];



value3 =
0.0982862174*Close[i+0+1]
+0.0975682269*Close[i+1+1]
+0.0961401078*Close[i+2+1]
+0.0940230544*Close[i+3+1]
+0.0912437090*Close[i+4+1]
+0.0878391006*Close[i+5+1]
+0.0838544303*Close[i+6+1]
+0.0793406350*Close[i+7+1]
+0.0743569346*Close[i+8+1]
+0.0689666682*Close[i+9+1]
+0.0632381578*Close[i+10+1]
+0.0572428925*Close[i+11+1]
+0.0510534242*Close[i+12+1]
+0.0447468229*Close[i+13+1]
+0.0383959950*Close[i+14+1]
+0.0320735368*Close[i+15+1]
+0.0258537721*Close[i+16+1]
+0.0198005183*Close[i+17+1]
+0.0139807863*Close[i+18+1]
+0.0084512448*Close[i+19+1]
+0.0032639979*Close[i+20+1]
-0.0015350359*Close[i+21+1]
-0.0059060082*Close[i+22+1]
-0.0098190256*Close[i+23+1]
-0.0132507215*Close[i+24+1]
-0.0161875265*Close[i+25+1]
-0.0186164872*Close[i+26+1]
-0.0205446727*Close[i+27+1]
-0.0219739146*Close[i+28+1]
-0.0229204861*Close[i+29+1]
-0.0234080863*Close[i+30+1]
-0.0234566315*Close[i+31+1]
-0.0231017777*Close[i+32+1]
-0.0223796900*Close[i+33+1]
-0.0213300463*Close[i+34+1]
-0.0199924534*Close[i+35+1]
-0.0184126992*Close[i+36+1]
-0.0166377699*Close[i+37+1]
-0.0147139428*Close[i+38+1]
-0.0126796776*Close[i+39+1]
-0.0105938331*Close[i+40+1]
-0.0084736770*Close[i+41+1]
-0.0063841850*Close[i+42+1]
-0.0043466731*Close[i+43+1]
-0.0023956944*Close[i+44+1]
-0.0005535180*Close[i+45+1]
+0.0011421469*Close[i+46+1]
+0.0026845693*Close[i+47+1]
+0.0040471369*Close[i+48+1]
+0.0052380201*Close[i+49+1]
+0.0062194591*Close[i+50+1]
+0.0070340085*Close[i+51+1]
+0.0076266453*Close[i+52+1]
+0.0080376628*Close[i+53+1]
+0.0083037666*Close[i+54+1]
+0.0083694798*Close[i+55+1]
+0.0082901022*Close[i+56+1]
+0.0080741359*Close[i+57+1]
+0.0077543820*Close[i+58+1]
+0.0073260526*Close[i+59+1]
+0.0068163569*Close[i+60+1]
+0.0062325477*Close[i+61+1]
+0.0056078229*Close[i+62+1]
+0.0049516078*Close[i+63+1]
+0.0161380976*Close[i+64+1];

value4 =
-0.0074151919*Close[i+0+1]
-0.0060698985*Close[i+1+1]
-0.0044979052*Close[i+2+1]
-0.0027054278*Close[i+3+1]
-0.0007031702*Close[i+4+1]
+0.0014951741*Close[i+5+1]
+0.0038713513*Close[i+6+1]
+0.0064043271*Close[i+7+1]
+0.0090702334*Close[i+8+1]
+0.0118431116*Close[i+9+1]
+0.0146922652*Close[i+10+1]
+0.0175884606*Close[i+11+1]
+0.0204976517*Close[i+12+1]
+0.0233865835*Close[i+13+1]
+0.0262218588*Close[i+14+1]
+0.0289681736*Close[i+15+1]
+0.0315922931*Close[i+16+1]
+0.0340614696*Close[i+17+1]
+0.0363444061*Close[i+18+1]
+0.0384120882*Close[i+19+1]
+0.0402373884*Close[i+20+1]
+0.0417969735*Close[i+21+1]
+0.0430701377*Close[i+22+1]
+0.0440399188*Close[i+23+1]
+0.0446941124*Close[i+24+1]
+0.0450230100*Close[i+25+1]
+0.0450230100*Close[i+26+1]
+0.0446941124*Close[i+27+1]
+0.0440399188*Close[i+28+1]
+0.0430701377*Close[i+29+1]
+0.0417969735*Close[i+30+1]
+0.0402373884*Close[i+31+1]
+0.0384120882*Close[i+32+1]
+0.0363444061*Close[i+33+1]
+0.0340614696*Close[i+34+1]
+0.0315922931*Close[i+35+1]
+0.0289681736*Close[i+36+1]
+0.0262218588*Close[i+37+1]
+0.0233865835*Close[i+38+1]
+0.0204976517*Close[i+39+1]
+0.0175884606*Close[i+40+1]
+0.0146922652*Close[i+41+1]
+0.0118431116*Close[i+42+1]
+0.0090702334*Close[i+43+1]
+0.0064043271*Close[i+44+1]
+0.0038713513*Close[i+45+1]
+0.0014951741*Close[i+46+1]
-0.0007031702*Close[i+47+1]
-0.0027054278*Close[i+48+1]
-0.0044979052*Close[i+49+1]
-0.0060698985*Close[i+50+1]
-0.0074151919*Close[i+51+1]
-0.0085278517*Close[i+52+1]
-0.0094111161*Close[i+53+1]
-0.0100658241*Close[i+54+1]
-0.0104994302*Close[i+55+1]
-0.0107227904*Close[i+56+1]
-0.0107450280*Close[i+57+1]
-0.0105824763*Close[i+58+1]
-0.0102517019*Close[i+59+1]
-0.0097708805*Close[i+60+1]
-0.0091581551*Close[i+61+1]
-0.0084345004*Close[i+62+1]
-0.0076214397*Close[i+63+1]
-0.0067401718*Close[i+64+1]
-0.0058083144*Close[i+65+1]
-0.0048528295*Close[i+66+1]
-0.0038816271*Close[i+67+1]
-0.0029244713*Close[i+68+1]
-0.0019911267*Close[i+69+1]
-0.0010974211*Close[i+70+1]
-0.0002535559*Close[i+71+1]
+0.0005231953*Close[i+72+1]
+0.0012297491*Close[i+73+1]
+0.0018539149*Close[i+74+1]
+0.0023994354*Close[i+75+1]
+0.0028490136*Close[i+76+1]
+0.0032221429*Close[i+77+1]
+0.0034936183*Close[i+78+1]
+0.0036818974*Close[i+79+1]
+0.0038037944*Close[i+80+1]
+0.0038338964*Close[i+81+1]
+0.0037975350*Close[i+82+1]
+0.0036986051*Close[i+83+1]
+0.0035521320*Close[i+84+1]
+0.0033559226*Close[i+85+1]
+0.0031224409*Close[i+86+1]
+0.0028550092*Close[i+87+1]
+0.0025688349*Close[i+88+1]
+0.0022682355*Close[i+89+1]
+0.0073925495*Close[i+90+1];



STLM=value1-value2;
STLM1=value3-value4;


if (STLM>STLM1) {Up[i]=STLM;Down[i]=0.0;} else {Down[i]=STLM;Up[i]=0.0;}

      i--;
     }
   return(0);
  }
//+------------------------------------------------------------------+

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