TrendscalpIndic
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The Trendscalp Indicator is a visual trading tool designed to help market participants identify the prevailing momentum of a price trend by calculating the balance between buying and selling pressures. Unlike standard indicators that might only look at moving averages, this script analyzes the relationship between recent price extremes and historical highs/lows over a specific period.
Core Logic and Mechanism
The indicator operates by comparing two distinct "power" metrics to determine which side of the market—buyers or sellers—is currently dominant:
- Buy Power: This is calculated by taking the highest price reached in the most recent immediate bar and comparing it against the lowest price reached over a set historical look-back period.
- Sell Power: Conversely, this looks at the highest price from the older look-back period compared against the lowest price reached in the most recent immediate bar.
By measuring these two forces against each other, the script generates a percentage value (the TTF). This value represents the net strength of the trend:
- A positive result suggests that buying pressure is outweighing selling pressure.
- A negative result indicates that selling pressure is dominant.
Visual Representation
The tool provides two distinct lines in a separate window below your main price chart to make these calculations easy to read at a glance:
- The Main Trend Line (Light Sea Green): This line oscillates based on the calculated percentage of market power. It moves up and down to show the intensity and direction of the current momentum.
- The Signal Line (Red): This is a binary indicator designed for clarity. Instead of fluctuating wildly, it stays at a fixed high level (the Top Line) whenever the Main Trend Line is above zero, and drops to a fixed low level (the Bottom Line) whenever the Main Trend Line falls below zero.
Summary of Use
The logic serves as a "momentum filter." The Light Sea Green line shows you the "how much" and "which way" of the current trend, while the Red Signal line provides a simplified "yes/no" visual to confirm when the trend has shifted from positive to negative territory.
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TrendscalpIndic
//+------------------------------------------------------------------+
//| Trendscalpindic.mq4 |
//| Based on Nick Bilak's TTF implementation |
//| |
//+------------------------------------------------------------------+
#property copyright "Copyright © 2005, Nick Bilak"
#property link "beluck[at]gmail.com"
#property indicator_separate_window
#property indicator_buffers 2
#property indicator_color1 LightSeaGreen
#property indicator_color2 Red
//---- input parameters
extern int TTFbars=15;
//15=default number of bars for computation
//---- buffers
double MainBuffer[];
double SignalBuffer[];
//----
int TopLine=100;
int BottomLine=-100;
int t3_period=3;
double b=0.7;
int draw_begin1=0;
int draw_begin2=0;
double b2=0;
double b3=0;
double c1=0;
double c2=0;
double c3=0;
double c4=0;
double r=0;
double w1=0;
double w2=0;
double e1 = 0;
double e2 = 0;
double e3 = 0;
double e4 = 0;
double e5 = 0;
double e6 = 0;
double HighestHighRecent=0;
double HighestHighOlder =0;
double LowestLowRecent =0;
double LowestLowOlder =0;
double BuyPower =0;
double SellPower=0;
double TTF=0;
//+------------------------------------------------------------------+
//| Custom indicator initialization function |
//+------------------------------------------------------------------+
int init()
{
string short_name;
//---- 2 additional buffers are used for counting.
IndicatorBuffers(2);
//---- indicator lines
SetIndexStyle(0,DRAW_LINE);
SetIndexBuffer(0, MainBuffer);
SetIndexStyle(1,DRAW_LINE);
SetIndexBuffer(1, SignalBuffer);
//---- name for DataWindow and indicator subwindow label
short_name="TrendscalpIndic("+TTFbars;
IndicatorShortName(short_name);
SetIndexLabel(0,short_name);
SetIndexLabel(1,"Signal");
//----
draw_begin1=TTFbars*2+1;
draw_begin2=draw_begin1;
SetIndexDrawBegin(0,draw_begin1);
SetIndexDrawBegin(1,draw_begin2);
/*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);
r=t3_period;
if (r<1) r=1;
r = 1 + 0.5*(r-1);
w1 = 2 / (r + 1);
w2 = 1 - w1;
*/
//----
return(0);
}
//+------------------------------------------------------------------+
//| ttf |
//+------------------------------------------------------------------+
int start()
{
int i,k;
int counted_bars=IndicatorCounted();
double price;
//----
if(Bars<=draw_begin2) return(0);
//---- initial zero
if(counted_bars<1)
{
for(i=1;i<=draw_begin1;i++) MainBuffer[Bars-i]=0;
for(i=1;i<=draw_begin2;i++) SignalBuffer[Bars-i]=0;
}
//---- %K line
i=Bars-draw_begin1;
if(counted_bars>draw_begin1) i=Bars-counted_bars-1;
while(i>=0)
{
HighestHighRecent=High[Highest(NULL, 0, MODE_HIGH,1,i)];
HighestHighOlder=High[Highest(NULL, 0, MODE_HIGH,TTFbars,i+1)];
LowestLowRecent=Low [Lowest (NULL, 0, MODE_LOW,1,i)];
LowestLowOlder=Low [Lowest (NULL, 0, MODE_LOW,TTFbars,i)];
BuyPower=HighestHighRecent-LowestLowOlder;
SellPower=HighestHighOlder-LowestLowRecent;
TTF=(BuyPower-SellPower)/(0.5*(BuyPower+SellPower))*100;
/*
e1 = w1*TTF + w2*e1;
e2 = w1*e1 + w2*e2;
e3 = w1*e2 + w2*e3;
e4 = w1*e3 + w2*e4;
e5 = w1*e4 + w2*e5;
e6 = w1*e5 + w2*e6;
TTF = c1*e6 + c2*e5 + c3*e4 + c4*e3;
*/
MainBuffer[i]=TTF;
i--;
}
//---- last counted bar will be recounted
if(counted_bars>0) counted_bars--;
int limit=Bars-counted_bars;
//---- signal line is simple movimg average
for(i=0; i<limit; i++) {
if (MainBuffer[i]>=0)
SignalBuffer[i]=TopLine;
else
SignalBuffer[i]=BottomLine;
}
//----
return(0);
}
//+------------------------------------------------------------------+
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