Trendline_Slow
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This script is a technical analysis indicator designed for the MetaTrader trading platform. It functions by generating a visual line on a price chart to help traders identify market trends or momentum based on historical price action.
Core Logic and Behavior
Data Processing: The indicator operates by looking at a specific window of historical data—specifically, it analyzes the closing prices of the last 98 candles (or bars) on the current chart. Instead of just looking at the most recent price, it weighs the significance of every single one of these 98 price points differently.
Weighted Calculation: The "logic" here is a complex mathematical formula where each of the 98 historical prices is multiplied by a unique specific coefficient (a decimal multiplier). Some of these multipliers are positive, while others are negative. By adding all these weighted values together, the script produces a single consolidated value for each point in time on the chart.
Visual Representation: The result of this calculation is plotted as a solid, maroon-colored line on your trading screen. This line serves as a smoothed representation of the underlying price movements. Because it incorporates a large look-back period (98 bars) with varied weights, it is designed to filter out minor "noise" in the market while highlighting broader trends.
Technical Requirements: For the indicator to display correctly, the chart must contain at least 98 bars of history. If there is less data available than the formula requires, the script will remain inactive until enough price information is loaded into the window.
//+------------------------------------------------------------------+
//| RSTL.mq4
//|
//+------------------------------------------------------------------+
#property copyright "Copyright 2002, Finware.ru Ltd."
#property link "http://www.finware.ru/"
#property indicator_chart_window
#property indicator_buffers 1
#property indicator_color1 Maroon
//---- buffers
double RSTLBuffer[];
//+------------------------------------------------------------------+
//| Custom indicator initialization function |
//+------------------------------------------------------------------+
int init()
{
string short_name;
//---- indicator line
SetIndexStyle(0,DRAW_LINE,STYLE_SOLID,3);
SetIndexBuffer(0,RSTLBuffer);
SetIndexDrawBegin(0,98);
//----
return(0);
}
//+------------------------------------------------------------------+
//| RSTL |
//+------------------------------------------------------------------+
int start()
{
int i,counted_bars=IndicatorCounted();
//----
if(Bars<=98) return(0);
//---- initial zero
if(counted_bars<98)
for(i=1;i<=0;i++) RSTLBuffer[Bars-i]=0.0;
//----
i=Bars-98-1;
if(counted_bars>=98) i=Bars-counted_bars-1;
while(i>=0)
{
RSTLBuffer[i]=
-0.00514293*Close[i+0]
-0.00398417*Close[i+1]
-0.00262594*Close[i+2]
-0.00107121*Close[i+3]
+0.00066887*Close[i+4]
+0.00258172*Close[i+5]
+0.00465269*Close[i+6]
+0.00686394*Close[i+7]
+0.00919334*Close[i+8]
+0.01161720*Close[i+9]
+0.01411056*Close[i+10]
+0.01664635*Close[i+11]
+0.01919533*Close[i+12]
+0.02172747*Close[i+13]
+0.02421320*Close[i+14]
+0.02662203*Close[i+15]
+0.02892446*Close[i+16]
+0.03109071*Close[i+17]
+0.03309496*Close[i+18]
+0.03490921*Close[i+19]
+0.03651145*Close[i+20]
+0.03788045*Close[i+21]
+0.03899804*Close[i+22]
+0.03984915*Close[i+23]
+0.04042329*Close[i+24]
+0.04071263*Close[i+25]
+0.04071263*Close[i+26]
+0.04042329*Close[i+27]
+0.03984915*Close[i+28]
+0.03899804*Close[i+29]
+0.03788045*Close[i+30]
+0.03651145*Close[i+31]
+0.03490921*Close[i+32]
+0.03309496*Close[i+33]
+0.03109071*Close[i+34]
+0.02892446*Close[i+35]
+0.02662203*Close[i+36]
+0.02421320*Close[i+37]
+0.02172747*Close[i+38]
+0.01919533*Close[i+39]
+0.01664635*Close[i+40]
+0.01411056*Close[i+41]
+0.01161720*Close[i+42]
+0.00919334*Close[i+43]
+0.00686394*Close[i+44]
+0.00465269*Close[i+45]
+0.00258172*Close[i+46]
+0.00066887*Close[i+47]
-0.00107121*Close[i+48]
-0.00262594*Close[i+49]
-0.00398417*Close[i+50]
-0.00514293*Close[i+51]
-0.00609634*Close[i+52]
-0.00684602*Close[i+53]
-0.00739452*Close[i+54]
-0.00774847*Close[i+55]
-0.00791630*Close[i+56]
-0.00790940*Close[i+57]
-0.00774085*Close[i+58]
-0.00742482*Close[i+59]
-0.00697718*Close[i+60]
-0.00641613*Close[i+61]
-0.00576108*Close[i+62]
-0.00502957*Close[i+63]
-0.00423873*Close[i+64]
-0.00340812*Close[i+65]
-0.00255923*Close[i+66]
-0.00170217*Close[i+67]
-0.00085902*Close[i+68]
-0.00004113*Close[i+69]
+0.00073700*Close[i+70]
+0.00146422*Close[i+71]
+0.00213007*Close[i+72]
+0.00272649*Close[i+73]
+0.00324752*Close[i+74]
+0.00368922*Close[i+75]
+0.00405000*Close[i+76]
+0.00433024*Close[i+77]
+0.00453068*Close[i+78]
+0.00465046*Close[i+79]
+0.00469058*Close[i+80]
+0.00466041*Close[i+81]
+0.00457855*Close[i+82]
+0.00442491*Close[i+83]
+0.00423019*Close[i+84]
+0.00399201*Close[i+85]
+0.00372169*Close[i+86]
+0.00342736*Close[i+87]
+0.00311822*Close[i+88]
+0.00280309*Close[i+89]
+0.00249088*Close[i+90]
+0.00219089*Close[i+91]
+0.00191283*Close[i+92]
+0.00166683*Close[i+93]
+0.00146419*Close[i+94]
+0.00131867*Close[i+95]
+0.00124645*Close[i+96]
+0.00126836*Close[i+97]
-0.00401854*Close[i+98];
i--;
}
return(0);
}
//+------------------------------------------------------------------+
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