T3_3Lines
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This script is a technical analysis tool designed for trading platforms to provide a smoothed representation of price movement. Its primary purpose is to filter out market "noise"—the small, rapid fluctuations in price—to help traders identify the underlying trend more clearly.
Core Functionality
The indicator generates three distinct moving lines on your chart. Each line represents a different level of price smoothing based on specific timeframes (periods) that you can customize. By observing these lines, a trader can get a better sense of whether the market is trending upward, downward, or moving sideways.
How the Logic Works
Unlike basic moving averages that simply take a flat average of past prices, this script uses a sophisticated mathematical approach to ensure the lines are both responsive and smooth:
- Multi-Stage Filtering: The logic does not calculate the final line in one step. Instead, it passes the price data through a series of six consecutive smoothing layers for each of the three lines. Think of this like a high-end water filter; by passing the data through multiple stages, the "sediment" (market volatility) is removed until only the "pure" trend remains.
- Dynamic Weighting: The script calculates specific weights based on your chosen periods. This ensures that the most recent price information is balanced correctly against historical data, preventing the indicator from being too sluggish to react to new news or too erratic when prices jump suddenly.
- Coefficient Mapping: The script uses a pre-calculated set of mathematical coefficients (based on a specific variable provided in the settings). These coefficients dictate how much influence each of the smoothing layers has on the final output, ensuring the curve follows the price action accurately without "overshooting" or lagging excessively.
Visual Output
When you apply this script to a chart:
- Three Distinct Lines: You will see three different lines (colored Green, Blue, and Black by default).
- Trend Identification: Because there are three different periods being calculated simultaneously, the relationship between these lines can signal different market conditions (e.g., when a fast-moving line crosses over a slower-moving one).
- Smooth Transitions: Due to the multi-stage calculation logic, the lines appear as smooth curves rather than jagged edges, making it easier for the human eye to track the momentum of the market.
Miscellaneous
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T3_3Lines
//+------------------------------------------------------------------+
//| T3.mq4 |
//| MojoFX |
//| http://groups.yahoo.com/group/MetaTrader_Experts_and_Indicators/ |
//+------------------------------------------------------------------+
#property copyright "MojoFX - Conversion only"
#property link "http://groups.yahoo.com/group/MetaTrader_Experts_and_Indicators/"
#property indicator_chart_window
#property indicator_buffers 3
#property indicator_color1 Green
#property indicator_color2 Blue
#property indicator_color3 Black
extern int MA_Period1 = 4;
extern int MA_Period2 = 8;
extern int MA_Period3 = 12;
extern double b = 0.6128;
double MapBuffer1[];
double MapBuffer2[];
double MapBuffer3[];
double e1[],e2[],e3[],e4[],e5[],e6[],e12[],e22[],e32[],e42[],e52[],e62[],e13[],e23[],e33[],e43[],e53[],e63[];
double c1,c2,c3,c4;
double n1,n2,n3,w1,w2,b2,b3,w12,w22,w13,w23;
//+------------------------------------------------------------------+
//| Custom indicator initialization function |
//+------------------------------------------------------------------+
int init()
{
//---- indicators setting
SetIndexStyle(0,DRAW_LINE,STYLE_SOLID,1,indicator_color1);
IndicatorDigits(MarketInfo(Symbol(),MODE_DIGITS));
IndicatorShortName("T3_"+MA_Period1);
SetIndexDrawBegin(0,100);
SetIndexBuffer(0,MapBuffer1);
SetIndexStyle(1,DRAW_LINE,STYLE_SOLID,1,indicator_color2);
IndicatorDigits(MarketInfo(Symbol(),MODE_DIGITS));
IndicatorShortName("T3_"+MA_Period2);
SetIndexDrawBegin(1,100);
SetIndexBuffer(1,MapBuffer2);
SetIndexStyle(2,DRAW_LINE,STYLE_SOLID,1,indicator_color3);
IndicatorDigits(MarketInfo(Symbol(),MODE_DIGITS));
IndicatorShortName("T3_"+MA_Period3);
SetIndexDrawBegin(2,100);
SetIndexBuffer(2,MapBuffer3);
//---- variable reset
//e2=0; e3=0; e4=0; e5=0; e6=0;
c1=0; c2=0; c3=0; c4=0;
n1=0; n2=0; n3=0;
w1=0; w2=0; w12=0; w22=0; w13=0; w23=0;
b2=0; b3=0;
b2=b*b;
b3=b2*b;
c1=-b3;
c2=(3*(b2+b3));
c3=-3*(2*b2+b+b3);
c4=(1+3*b+b3+3*b2);
n1=MA_Period1;
n2=MA_Period2;
n3=MA_Period3;
if (n1<1) n1=1;
n1 = 1 + 0.5*(n1-1);
w1 = 2 / (n1 + 1);
w2 = 1 - w1;
if (n2<1) n2=1;
n2 = 1 + 0.5*(n2-1);
w12 = 2 / (n2 + 1);
w22 = 1 - w12;
if (n3<1) n3=1;
n3 = 1 + 0.5*(n3-1);
w13 = 2 / (n3 + 1);
w23 = 1 - w13;
//----
return(0);
}
//+------------------------------------------------------------------+
//| Custom indicator iteration function |
//+------------------------------------------------------------------+
int start()
{
int limit;
int counted_bars=IndicatorCounted();
if (counted_bars<0) return (-1);
if (counted_bars>0) counted_bars--;
limit=(Bars-counted_bars)-1;
//---- indicator calculation
ArrayResize(e1, Bars+1);
ArrayResize(e2, Bars+1);
ArrayResize(e3, Bars+1);
ArrayResize(e4, Bars+1);
ArrayResize(e5, Bars+1);
ArrayResize(e6, Bars+1);
ArrayResize(e12, Bars+1);
ArrayResize(e22, Bars+1);
ArrayResize(e32, Bars+1);
ArrayResize(e42, Bars+1);
ArrayResize(e52, Bars+1);
ArrayResize(e62, Bars+1);
ArrayResize(e13, Bars+1);
ArrayResize(e23, Bars+1);
ArrayResize(e33, Bars+1);
ArrayResize(e43, Bars+1);
ArrayResize(e53, Bars+1);
ArrayResize(e63, Bars+1);
for(int i=limit; i>=0; i--)
{
e1[Bars-i] = w1*Close[i] + w2*e1[(Bars-i)-1];
e2[Bars-i] = w1*e1[Bars-i] + w2*e2[(Bars-i)-1];
e3[Bars-i] = w1*e2[Bars-i] + w2*e3[(Bars-i)-1];
e4[Bars-i] = w1*e3[Bars-i] + w2*e4[(Bars-i)-1];
e5[Bars-i] = w1*e4[Bars-i] + w2*e5[(Bars-i)-1];
e6[Bars-i] = w1*e5[Bars-i] + w2*e6[(Bars-i)-1];
//Print ("I- ",i, "Bars-I ",Bars-i);
MapBuffer1[i]=c1*e6[Bars-i] + c2*e5[Bars-i] + c3*e4[Bars-i] + c4*e3[Bars-i];
}
for(i=limit; i>=0; i--)
{
e12[Bars-i] = w12*Close[i] + w22*e12[(Bars-i)-1];
e22[Bars-i] = w12*e12[Bars-i] + w22*e22[(Bars-i)-1];
e32[Bars-i] = w12*e22[Bars-i] + w22*e32[(Bars-i)-1];
e42[Bars-i] = w12*e32[Bars-i] + w22*e42[(Bars-i)-1];
e52[Bars-i] = w12*e42[Bars-i] + w22*e52[(Bars-i)-1];
e62[Bars-i] = w12*e52[Bars-i] + w22*e62[(Bars-i)-1];
//Print ("I- ",i, "Bars-I ",Bars-i);
MapBuffer2[i]=c1*e62[Bars-i] + c2*e52[Bars-i] + c3*e42[Bars-i] + c4*e32[Bars-i];
}
for(i=limit; i>=0; i--)
{
e13[Bars-i] = w13*Close[i] + w23*e13[(Bars-i)-1];
e23[Bars-i] = w13*e13[Bars-i] + w23*e23[(Bars-i)-1];
e33[Bars-i] = w13*e23[Bars-i] + w23*e33[(Bars-i)-1];
e43[Bars-i] = w13*e33[Bars-i] + w23*e43[(Bars-i)-1];
e53[Bars-i] = w13*e43[Bars-i] + w23*e53[(Bars-i)-1];
e63[Bars-i] = w13*e53[Bars-i] + w23*e63[(Bars-i)-1];
//Print ("I- ",i, "Bars-I ",Bars-i);
MapBuffer3[i]=c1*e63[Bars-i] + c2*e53[Bars-i] + c3*e43[Bars-i] + c4*e33[Bars-i];
}
//----
return(0);
}
//+------------------------------------------------------------------+
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