TF_15B15D.01

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Author: Copyright � 2008 Tom Balfe
TF_15B15D.01

Trend Friend Indicator Overview

The Trend Friend script is a multi-timeframe analysis tool designed to provide traders with a comprehensive visual overview of market trends at a glance. Instead of forcing you to switch back and forth between different charts, this indicator consolidates data from six distinct timeframes—ranging from 1 minute up to 4 hours—into a single, easy-to-read dashboard.

How the Logic Works

The indicator operates by calculating three specific types of market signals across all selected timeframes simultaneously. Each signal is represented by a row in the dashboard, featuring visual icons (arrows) and text labels that change color based on the current market conditions.

1. MACD Analysis (Momentum Signal) This row tracks the "Moving Average Convergence Divergence" (MACD) indicator. The logic looks at the relationship between two moving averages to determine momentum:

  • Buy Signal: Triggered when the momentum is positive and rising above its signal line, or when it is negative but beginning to curve upward.
  • Sell Signal: Triggered when momentum is negative and falling below its signal line, or when it is positive but curving downward.
  • Wait: Displayed if the data is neutral or haven't reached a clear crossover point.

2. EMA Set 1 (Short-Term Trend) This row uses two "Exponential Moving Averages" set at relatively shorter periods. This logic is designed to capture faster price movements and short-term shifts in trend direction.

  • Buy Signal: Appears when the faster average crosses above the slower one.
  • Sell Signal: Appears when the faster average crosses below the slower one.

3. EMA Set 2 (Long-Term Trend) This row utilizes two "Exponential Moving Averages" set at much longer periods. This logic acts as a filter to identify the "big picture" trend, helping traders understand the broader market direction over a longer duration.

  • Buy Signal: Appears when the primary long-term trend is moving upward.
  • Sell Signal: Appears when the primary long-term trend is moving downward.

Visual Layout and User Experience

The dashboard is organized into a grid:

  • Columns: Represent different timeframes (1 Min, 5 Min, 15 Min, 30 Min, 1 Hr, 4 Hr).
  • Rows: Represent the three analysis methods (MACD, Short EMA, Long EMA).
  • Color Coding: The tool uses intuitive colors—Lime/Green for Buy signals, Red for Sell signals, and Black for "Wait" states.

By presenting this information in one window, the script allows you to see if different timeframes are "agreeing" with each other. For example, if all three rows across multiple timeframes show Green, it indicates a strong, unified upward trend. If the signals are mixed, it suggests a period of market indecision or a potential trend reversal.

Indicators Used
MACD HistogramMoving average indicator
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TF_15B15D.01 
//+------------------------------------------------------------------+
//|                                                     Trend Friend |
//|                                                      TF_1.01.mq4 |
//|                                       Copyright © 2008 Tom Balfe |
//|                                                                  |
//| This is a trend indicator that gives you three signals on        |
//| multiple timeframes. It bases it's recommendations on short and  |
//| long moving averages and MACD.                                   |
//|                                                                  |
//| Version: 1.01                                                    |
//|                                                                  |
//| Changelog:                                                       |
//|                                                                  |
//|    1.01  - fixed arrows stuff                                    |
//|    1.00  - first version,unreleased, incomplete                  |
//|                                                                  |
//+------------------------------------------------------------------+
#property copyright "Copyright © 2008 Tom Balfe"
#property link      "redcarsarasota@yahoo.com"
#property indicator_separate_window

//--- spacing
int     scaleX=120,scaleY=20,offsetX=200,offsetY=4,fontSize=8;
//--- arrays for various things
int     TF[]              = {1,5,15,30,60,240};
string  periodStr[]       = {"1 MIN:","5 MIN:","15 MIN:","30 MIN:","1 HR:","4 HR:"};
string  signalNameStr[]   = {"MACD","EMA Set1","EMA Set2"};

//+------------------------------------------------------------------+
//| USER ADJUSTABLE STUFF                                            |
//+------------------------------------------------------------------+

extern  string  MACD_Settings         = "=== MACD Settings ===";
extern  int     FastEMA               = 12;
extern  int     SlowEMA               = 24;
extern  int     MACDsp                = 6;

extern  string  EMA_Settings          = "=== MA Settings ===";
extern  int     shortP1               = 7;
extern  int     shortP2               = 14;
extern  int     longP1                = 34;
extern  int     longP2                = 72;

extern  string  My_Symbols            = "=== Wingdings Symbols ===";
extern  int     sBuy                  = 233;
extern  int     sSell                 = 234;
extern  int     sWait                 = 54;

//+------------------------------------------------------------------+
//| Initialization function                                          |
//+------------------------------------------------------------------+
int init()
  {
    //-- indicator short name
    IndicatorShortName("Trend Friend 1.01 ");

    return(0);
  }
//+------------------------------------------------------------------+
//| Deinitialization function                                        |
//+------------------------------------------------------------------+
int deinit()
  {
   //-- need to delete objects should user remove indicator
   ObjectsDeleteAll(0,OBJ_LABEL);
   
    //-- delete timeframe text labels   
    for(int x=0;x<6;x++)
      for (int y=0;y<3;y++)
      { ObjectDelete("textTF"+x+y); } 
    
    //-- delete indicator text labels
    for(y=0;y<3;y++)
      { ObjectDelete("textLab"+y); }       
    
    //-- delete indicator arrows
    for (x=0;x<6;x++)
      for (y=0;y<3;y++)
      { ObjectDelete("doubleArr"+x+y); }
    
    //-- delete indicator text      
    for (x=0;x<6;x++)
      for (y=0;y<3;y++)   
      { ObjectDelete("textInd"+x+y); } 
   
   return(0);
  }

//+------------------------------------------------------------------+
//| MAIN LOOP                                                        |
//+------------------------------------------------------------------+

int start()
  {
    //--- create timeframe text labels 
    for (int x=0;x<6;x++)
      for (int y=0;y<3;y++)
      {
        ObjectCreate("textTF"+x+y,OBJ_LABEL,WindowFind("Trend Friend 1.01 "),0,0);
        ObjectSetText("textTF"+x+y,periodStr[x],fontSize,"Arial Bold",LightSteelBlue);
        ObjectSet("textTF"+x+y,OBJPROP_CORNER,0);
        ObjectSet("textTF"+x+y,OBJPROP_XDISTANCE,x*scaleX+offsetX);
        ObjectSet("textTF"+x+y,OBJPROP_YDISTANCE,y*scaleY+offsetY);
      }
    
    //--- create indicator text labels
    for (y=0;y<3;y++)
      {
        ObjectCreate("textLab"+y,OBJ_LABEL,WindowFind("Trend Friend 1.01 "),0,0);
        ObjectSetText("textLab"+y,signalNameStr[y],fontSize,"Arial Bold",Black);
        ObjectSet("textLab"+y,OBJPROP_CORNER,0);
        ObjectSet("textLab"+y,OBJPROP_XDISTANCE,offsetX-65);
        ObjectSet("textLab"+y,OBJPROP_YDISTANCE,y*scaleY+offsetY);
      }
    
    //--- create blanks for arrows
    for (x=0;x<6;x++)
      for (y=0;y<3;y++)
      {
        ObjectCreate("doubleArr"+x+y,OBJ_LABEL,WindowFind("Trend Friend 1.01 "),0,0);
          ObjectSetText("doubleArr"+x+y," ",10,"Wingdings",Black);
          ObjectSet("doubleArr"+x+y,OBJPROP_CORNER,0);
          ObjectSet("doubleArr"+x+y,OBJPROP_XDISTANCE,x*scaleX+(offsetX+80)); // scaleX == 120, offsetX == 200
          ObjectSet("doubleArr"+x+y,OBJPROP_YDISTANCE,y*scaleY+offsetY);
      }
    
    //--- create blanks for text
    for (x=0;x<6;x++)
      for (y=0;y<3;y++)
      {
        ObjectCreate("textInd"+x+y,OBJ_LABEL,WindowFind("Trend Friend 1.01 "),0,0);
          ObjectSetText("textInd"+x+y,"    ",9,"Arial Bold",Black);
          ObjectSet("textInd"+x+y,OBJPROP_CORNER,0);
          ObjectSet("textInd"+x+y,OBJPROP_XDISTANCE,x*scaleX+(offsetX+45)); // scaleX == 120, offsetX == 200
          ObjectSet("textInd"+x+y,OBJPROP_YDISTANCE,y*scaleY+offsetY);
      }
    
    //--- MACD arrows
    for(x=0;x<6;x++)
    {
      if ((iMACD(NULL,TF[x],FastEMA,SlowEMA,MACDsp,0,MODE_MAIN,0))>0) { // macd above zero
        if ((iMACD(NULL,TF[x],FastEMA,SlowEMA,MACDsp,0,MODE_MAIN,0)) >
            (iMACD(NULL,TF[x],FastEMA,SlowEMA,MACDsp,0,MODE_SIGNAL,0)))
          ObjectSetText("doubleArr"+x+"0",CharToStr(sBuy),fontSize,"Wingdings",Lime);
        else if 
           ((iMACD(NULL,TF[x],FastEMA,SlowEMA,MACDsp,0,MODE_MAIN,0)) <
            (iMACD(NULL,TF[x],FastEMA,SlowEMA,MACDsp,0,MODE_SIGNAL,0)))
          ObjectSetText("doubleArr"+x+"0",CharToStr(sSell),fontSize,"Wingdings",Red); 
        else
          ObjectSetText("doubleArr"+x+"0",CharToStr(sWait),fontSize,"Wingdings",Black);  
        }
      
      else if ((iMACD(NULL,TF[x],FastEMA,SlowEMA,MACDsp,0,MODE_MAIN,0))<0) { // macd below zero
        if ((iMACD(NULL,TF[x],FastEMA,SlowEMA,MACDsp,0,MODE_MAIN,0)) <
            (iMACD(NULL,TF[x],FastEMA,SlowEMA,MACDsp,0,MODE_SIGNAL,0)))
          ObjectSetText("doubleArr"+x+"0",CharToStr(sSell),fontSize,"Wingdings",Red);
        else if
           ((iMACD(NULL,TF[x],FastEMA,SlowEMA,MACDsp,0,MODE_MAIN,0)) > 
             (iMACD(NULL,TF[x],FastEMA,SlowEMA,MACDsp,0,MODE_SIGNAL,0)))
          ObjectSetText("doubleArr"+x+"0",CharToStr(sBuy),fontSize,"Wingdings",Lime);
        else
          ObjectSetText("doubleArr"+x+"0",CharToStr(sWait),fontSize,"Wingdings",Black);   
      }
    } 
    
    //--- MACD text
    for(x=0;x<6;x++)
    {
      if ((iMACD(NULL,TF[x],FastEMA,SlowEMA,MACDsp,0,MODE_MAIN,0))>0) { // macd above zero
        if ((iMACD(NULL,TF[x],FastEMA,SlowEMA,MACDsp,0,MODE_MAIN,0)) >
            (iMACD(NULL,TF[x],FastEMA,SlowEMA,MACDsp,0,MODE_SIGNAL,0)))  
          ObjectSetText("textInd"+x+"0"," BUY",9,"Arial Bold",Lime);  
        else if  
           ((iMACD(NULL,TF[x],FastEMA,SlowEMA,MACDsp,0,MODE_MAIN,0)) < 
            (iMACD(NULL,TF[x],FastEMA,SlowEMA,MACDsp,0,MODE_SIGNAL,0)))
          ObjectSetText("textInd"+x+"0","SELL",9,"Arial Bold",Red);
        else  
          ObjectSetText("textInd"+x+"0","WAIT",9,"Arial Bold",Black);
        }
            
      else if ((iMACD(NULL,TF[x],FastEMA,SlowEMA,MACDsp,0,MODE_MAIN,0))<0) { // macd below zero    
        if ((iMACD(NULL,TF[x],FastEMA,SlowEMA,MACDsp,0,MODE_MAIN,0)) <
            (iMACD(NULL,TF[x],FastEMA,SlowEMA,MACDsp,0,MODE_SIGNAL,0)))    
          ObjectSetText("textInd"+x+"0","SELL",9,"Arial Bold",Red);  
        else if
           ((iMACD(NULL,TF[x],FastEMA,SlowEMA,MACDsp,0,MODE_MAIN,0)) > 
            (iMACD(NULL,TF[x],FastEMA,SlowEMA,MACDsp,0,MODE_SIGNAL,0)))
          ObjectSetText("textInd"+x+"0"," BUY",9,"Arial Bold",Lime);
        else  
          ObjectSetText("textInd"+x+"0","WAIT",9,"Arial Bold",Black);
      }
    }
    
    //--- MA Set1 arrows
    for(x=0;x<6;x++)
    {
      if ((iMA(NULL,TF[x],shortP1,0,MODE_EMA,PRICE_CLOSE,0)) >
          (iMA(NULL,TF[x],shortP2,0,MODE_EMA,PRICE_CLOSE,0)))
        ObjectSetText("doubleArr"+x+"1",CharToStr(sBuy),fontSize,"Wingdings",Lime);
      else if ((iMA(NULL,TF[x],shortP1,0,MODE_EMA,PRICE_CLOSE,0)) <
          (iMA(NULL,TF[x],shortP2,0,MODE_EMA,PRICE_CLOSE,0)))
        ObjectSetText("doubleArr"+x+"1",CharToStr(sSell),fontSize,"Wingdings",Red);    
      else 
        ObjectSetText("doubleArr"+x+"1",CharToStr(sWait),fontSize,"Wingdings",Black);  
    }
    
    //--- MA Set1 text
    for(x=0;x<6;x++)
    {
      if ((iMA(NULL,TF[x],shortP1,0,MODE_EMA,PRICE_CLOSE,0)) >
          (iMA(NULL,TF[x],shortP2,0,MODE_EMA,PRICE_CLOSE,0)))
        ObjectSetText("textInd"+x+"1"," BUY",9,"Arial Bold",Lime);  
      else if ((iMA(NULL,TF[x],shortP1,0,MODE_EMA,PRICE_CLOSE,0)) <
          (iMA(NULL,TF[x],shortP2,0,MODE_EMA,PRICE_CLOSE,0)))
        ObjectSetText("textInd"+x+"1","SELL",9,"Arial Bold",Red);  
      else
        ObjectSetText("textInd"+x+"1","WAIT",9,"Arial Bold",Black);
    }
    
    //--- MA Set2 arrows
    for(x=0;x<6;x++)
    {
      if ((iMA(NULL,TF[x],longP1,0,MODE_EMA,PRICE_CLOSE,0)) >
          (iMA(NULL,TF[x],longP2,0,MODE_EMA,PRICE_CLOSE,0)))
        ObjectSetText("doubleArr"+x+"2",CharToStr(sBuy),fontSize,"Wingdings",Lime);
      else if ((iMA(NULL,TF[x],longP1,0,MODE_EMA,PRICE_CLOSE,0)) <
          (iMA(NULL,TF[x],longP2,0,MODE_EMA,PRICE_CLOSE,0)))
        ObjectSetText("doubleArr"+x+"2",CharToStr(sSell),fontSize,"Wingdings",Red);    
      else 
        ObjectSetText("doubleArr"+x+"2",CharToStr(sWait),fontSize,"Wingdings",Black);  
    }
   
    //--- MA Set2 text
    for(x=0;x<6;x++)
    {
      if ((iMA(NULL,TF[x],longP1,0,MODE_EMA,PRICE_CLOSE,0)) >
          (iMA(NULL,TF[x],longP2,0,MODE_EMA,PRICE_CLOSE,0)))
        ObjectSetText("textInd"+x+"2"," BUY",9,"Arial Bold",Lime);  
      else if ((iMA(NULL,TF[x],longP1,0,MODE_EMA,PRICE_CLOSE,0)) <
          (iMA(NULL,TF[x],longP2,0,MODE_EMA,PRICE_CLOSE,0)))
        ObjectSetText("textInd"+x+"2","SELL",9,"Arial Bold",Red);  
      else
        ObjectSetText("textInd"+x+"2","WAIT",9,"Arial Bold",Black);
    }   
         
  return(0);
  }
  //+------------------------------------------------------------------+
  //| END MAIN LOOP                                                    |
  //+------------------------------------------------------------------+

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