TRO_Multi_Meter_LinReg
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This script functions as a multi-timeframe visual dashboard designed to help traders monitor the trend direction of various time periods simultaneously on a single chart. Instead of requiring you to switch back and forth between different charts (like switching from a 1-minute chart to a Daily chart), it consolidates this information into a neat, readable display in one corner of your screen.
Core Logic and Functionality
Multi-Timeframe Analysis The script automatically calculates the "slope" or direction of the market across seven different timeframes: 1-Minute (M1), 5-Minute (M5), 15-Minute (M15), 30-Minute (M30), 1-Hour (H1), 4-Hour (H4), and Daily (D1). It achieves this by pulling data from a specific linear regression tool (referred to as "_linreg") to determine if the market is currently moving upward or downward on those specific intervals.
Visual Indicators & Color Coding To make the information easy to digest at a glance, the script uses a clear color-coding system:
- Lime (Green): Indicates that the trend for that specific timeframe is currently positive (upward).
- Red: Indicates that the trend for that specific timeframe is currently negative (downward).
Dynamic Dashboard Display The script creates a "Meter" or "Dashboard" on your chart window. It places labels and text objects in a row, allowing you to see the status of all timeframes side-by-side.
- Headings: It can display a heading row that clearly identifies which timeframe corresponds to which colored indicator.
- Customizable Positioning: The logic includes settings that allow users to shift the dashboard up, down, or side-to-side, ensuring it doesn't block important price action on the chart.
Automated Management The script is designed to be "clean." It manages its own objects on the chart so that they don't clutter your workspace. When you remove the indicator from the chart, it includes a specific cleanup routine to delete all the labels and lines it created, returning your chart to its original state.
Summary for the User
Think of this script as a "Trend Dashboard." It scans multiple timeframes in the background and presents you with a simplified "traffic light" system. By looking at one corner of your screen, you can instantly see if the short-term momentum (like the 1-minute chart) is aligned with the long-term trend (like the Daily chart), helping you make more informed decisions about your trades.
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TRO_Multi_Meter_LinReg
//+------------------------------------------------------------------+
//| _TRO_Multi_Meter_LR |
//| |
//| Copyright © 2007, Avery T. Horton, Jr. aka TheRumpledOne |
//| |
//| PO BOX 43575, TUCSON, AZ 85733 |
//| |
//| GIFT AND DONATIONS ACCEPTED |
//| |
//| therumpldone@gmail.com |
//+------------------------------------------------------------------+
//| |
//| go to www.kreslik.com for the latest indicator updates |
//+------------------------------------------------------------------+
//| |
//| Use www.efxgroup.com as your forex broker... |
//| ...tell them therumpledone sent you! |
//+------------------------------------------------------------------+
// thank you Xard777 from www.forex-tsd.com for showing me how to delete the objects properly.
// thank you mladen from www.forex-tsd.com for showing me I had a locals and global variables with same name
#property indicator_chart_window
extern bool Show_Heading = false;
extern string IndName = "LR" ; // change
extern bool Corner_of_Chart_RIGHT_TOP = true;
extern int Shift_UP_DN =120;
extern int Adjust_Side_to_side = 20;
extern color BarLabel_color = LightBlue;
extern color CommentLabel_color = LightBlue;
//*******************
// change inputs for your indicator
extern bool show_m1_LRlines = true;
extern color m1_line_color = LavenderBlush;
extern bool show_m5_LRlines = true;
extern color m5_line_color = Honeydew;
extern bool show_m15_LRlines = true;
extern color m15_line_color = AntiqueWhite;
extern bool show_m30_LRlines = true;
extern color m30_line_color = LightPink;
extern bool show_H1_LRlines = true;
extern color H1_line_color = Yellow;
extern bool show_H4_LRlines = true;
extern color H4_line_color = Blue;
extern bool show_D1_LRlines = true;
extern color D1_line_color = Red;
extern bool show_W1_LRlines = true;
extern color W1_line_color = DarkOrange;
extern bool show_MN_LRlines = false;
extern color MN_line_color = White;
//*******************
string ObjHead01,ObjHead02,ObjHead03,ObjHead04,ObjHead05,ObjHead06,ObjHead07,ObjHead08,ObjHead09;
string Obj0001,Obj0002,Obj0003,Obj0004,Obj0005,Obj0006,Obj0007,Obj0008,Obj0009;
//+------------------------------------------------------------------+
//| Custom indicator initialization function |
//+------------------------------------------------------------------+
int init()
{
//----
//----
return(0);
}
//+------------------------------------------------------------------+
//| Custom indicator iteration function |
//+------------------------------------------------------------------+
int start()
{
//***********************************************************************************************************************
string LabelTime="";
if (LabelTime=="") {LabelTime=TimeToStr(TimeLocal(),TIME_SECONDS); }
int counted_bars=IndicatorCounted();
ObjHead01 = "LRColHead01" + LabelTime ;
ObjHead02 = "LRColHead02" + LabelTime ;
ObjHead03 = "LRColHead03" + LabelTime ;
ObjHead04 = "LRColHead04" + LabelTime ;
ObjHead05 = "LRColHead05" + LabelTime ;
ObjHead06 = "LRColHead06" + LabelTime ;
ObjHead07 = "LRColHead07" + LabelTime ;
string LR_ObjHead01 ="M1 " ;
string LR_ObjHead02 ="M5 " ;
string LR_ObjHead03 ="M15 " ;
string LR_ObjHead04 =" M30 " ;
string LR_ObjHead05 ="H1 " ;
string LR_ObjHead06 ="H4 " ;
string LR_ObjHead07 ="D1 " ;
if ( Show_Heading) {
if (Corner_of_Chart_RIGHT_TOP == true)
{
int Col01x = 130+Adjust_Side_to_side ;
int Col01y = 28+Shift_UP_DN ;
}
if (Corner_of_Chart_RIGHT_TOP == false)
{
Col01x = 119+Adjust_Side_to_side ;
Col01y = 24+Shift_UP_DN ;
}
int ColAdj = -20 ;
int Col02x = Col01x + ColAdj ;
int Col03x = Col01x + ColAdj*2 ;
int Col04x = Col01x + ColAdj*3 ;
int Col05x = Col01x + ColAdj*4 ;
int Col06x = Col01x + ColAdj*5 ;
int Col07x = Col01x + ColAdj*6 ;
ObjectCreate(ObjHead01, OBJ_LABEL, 0, 0, 0);
ObjectSetText(ObjHead01,LR_ObjHead01 , 7, "Tahoma Narrow", BarLabel_color);
ObjectSet(ObjHead01, OBJPROP_CORNER, Corner_of_Chart_RIGHT_TOP);
ObjectSet(ObjHead01, OBJPROP_XDISTANCE, Col01x);
ObjectSet(ObjHead01, OBJPROP_YDISTANCE, Col01y);
ObjectCreate(ObjHead02, OBJ_LABEL, 0, 0, 0);
ObjectSetText(ObjHead02,LR_ObjHead02 , 7, "Tahoma Narrow", BarLabel_color);
ObjectSet(ObjHead02, OBJPROP_CORNER, Corner_of_Chart_RIGHT_TOP);
ObjectSet(ObjHead02, OBJPROP_XDISTANCE, Col02x);
ObjectSet(ObjHead02, OBJPROP_YDISTANCE, Col01y);
ObjectCreate(ObjHead03, OBJ_LABEL, 0, 0, 0);
ObjectSetText(ObjHead03,LR_ObjHead03 , 7, "Tahoma Narrow", BarLabel_color);
ObjectSet(ObjHead03, OBJPROP_CORNER, Corner_of_Chart_RIGHT_TOP);
ObjectSet(ObjHead03, OBJPROP_XDISTANCE, Col03x);
ObjectSet(ObjHead03, OBJPROP_YDISTANCE, 28+Shift_UP_DN);
ObjectCreate(ObjHead04, OBJ_LABEL, 0, 0, 0);
ObjectSetText(ObjHead04,LR_ObjHead04 , 7, "Tahoma Narrow", BarLabel_color);
ObjectSet(ObjHead04, OBJPROP_CORNER, Corner_of_Chart_RIGHT_TOP);
ObjectSet(ObjHead04, OBJPROP_XDISTANCE, Col04x);
ObjectSet(ObjHead04, OBJPROP_YDISTANCE, 28+Shift_UP_DN);
ObjectCreate(ObjHead05, OBJ_LABEL, 0, 0, 0);
ObjectSetText(ObjHead05,LR_ObjHead05 , 7, "Tahoma Narrow", BarLabel_color);
ObjectSet(ObjHead05, OBJPROP_CORNER, Corner_of_Chart_RIGHT_TOP);
ObjectSet(ObjHead05, OBJPROP_XDISTANCE, Col05x);
ObjectSet(ObjHead05, OBJPROP_YDISTANCE, 28+Shift_UP_DN);
ObjectCreate(ObjHead06, OBJ_LABEL, 0, 0, 0);
ObjectSetText(ObjHead06,LR_ObjHead06 , 7, "Tahoma Narrow", BarLabel_color);
ObjectSet(ObjHead06, OBJPROP_CORNER, Corner_of_Chart_RIGHT_TOP);
ObjectSet(ObjHead06, OBJPROP_XDISTANCE, Col06x);
ObjectSet(ObjHead06, OBJPROP_YDISTANCE, 28+Shift_UP_DN);
ObjectCreate(ObjHead07, OBJ_LABEL, 0, 0, 0);
ObjectSetText(ObjHead07,LR_ObjHead07 , 7, "Tahoma Narrow", BarLabel_color);
ObjectSet(ObjHead07, OBJPROP_CORNER, Corner_of_Chart_RIGHT_TOP);
ObjectSet(ObjHead07, OBJPROP_XDISTANCE, Col07x);
ObjectSet(ObjHead07, OBJPROP_YDISTANCE, 28+Shift_UP_DN);
} // Show_Heading
//******************* change for your indicator ********************
//LR Signals
// string CustomInd1 = "#(SF_LR_LINES)" ;
// string CustomInd1 = "_TRO_SF_LR" ;
// string CustomInd1 = "_Slope Direction Line" ;
// string CustomInd1 = "_TRO_Test" ;
string CustomInd1 = "_linreg" ;
double LR_M1, LR_M5 , LR_M15, LR_M30, LR_H1, LR_H4, LR_D1;
/*
LR_M1 = iCustom(NULL,1,CustomInd1,80,3,0 ,0,0 );
LR_M5 = iCustom(NULL,5,CustomInd1,80,3,0 ,0,0 );
LR_M15 = iCustom(NULL,15,CustomInd1,80,3,0 ,0,0 );
LR_M30 = iCustom(NULL,30,CustomInd1,80,3,0 ,0,0 );
LR_H1 = iCustom(NULL,60,CustomInd1,80,3,0 ,0,0 );
LR_H4 = iCustom(NULL,240,CustomInd1,80,3,0 ,0,0 );
LR_D1 = iCustom(NULL,1440,CustomInd1,80,3,0 ,0,0 );
*/
int myShiftA = 0 , myShiftB = 59 ;
LR_M1 = iCustom(NULL,1,CustomInd1, 60 ,0,myShiftA ) - iCustom(NULL,1,CustomInd1, 60 ,0, myShiftB );
LR_M5 = iCustom(NULL,5,CustomInd1, 60 ,0,myShiftA ) - iCustom(NULL,5,CustomInd1, 60 ,0, myShiftB );
LR_M15 = iCustom(NULL,15,CustomInd1, 60 ,0,myShiftA ) - iCustom(NULL,15,CustomInd1, 60 ,0, myShiftB );
LR_M30 = iCustom(NULL,30,CustomInd1, 60 ,0,myShiftA ) - iCustom(NULL,30,CustomInd1, 60 ,0, myShiftB );
LR_H1 = iCustom(NULL,60,CustomInd1, 60 ,0,myShiftA ) - iCustom(NULL,60,CustomInd1, 60 ,0, myShiftB );
LR_H4 = iCustom(NULL,240,CustomInd1, 60 ,0,myShiftA ) - iCustom(NULL,240,CustomInd1, 60 ,0, myShiftB );
LR_D1 = iCustom(NULL,1440,CustomInd1, 60 ,0,myShiftA ) - iCustom(NULL,1440,CustomInd1, 60 ,0, myShiftB );
double x0 = iCustom(NULL,1440,CustomInd1, 60 ,0, myShiftB );
double x59 = iCustom(NULL,1440,CustomInd1, 60 ,0,myShiftA );
Comment( "D1 0 " + DoubleToStr( x0, 4) + " D1 59 " + DoubleToStr( x59, 4) + " LR_D1 " + DoubleToStr(LR_D1, 4) );
/*
if (show_m1_LRlines) {
double LR_M1 = iCustom(NULL,1,CustomInd1,m1_line_color,240,0,0,0);
}
if (show_m5_LRlines) {
double LR_M5 = iCustom(NULL,5,CustomInd1,m5_line_color,240,0,0,0);
}
if (show_m15_LRlines) {
double LR_M15 = iCustom(NULL,15,CustomInd1,m15_line_color,240,0,0,0);
}
if (show_m30_LRlines) {
double LR_M30 = iCustom(NULL,30,CustomInd1,m30_line_color,240,0,0,0);
}
if (show_H1_LRlines) {
double LR_H1 = iCustom(NULL,60,CustomInd1,H1_line_color,240,0,0,0);
}
if (show_H4_LRlines) {
double LR_H4 = iCustom(NULL,240,CustomInd1,H4_line_color,240,0,0,0);
}
if (show_D1_LRlines) {
double LR_D1 = iCustom(NULL,1440,CustomInd1,D1_line_color,240,0,0,0);
}
*/
string M1_LR= "",M5_LR= "", M15_LR= "", M30_LR= "", H1_LR= "", H4_LR= "", D1_LR= "",PRC1;
color color_LRm1,color_LRm5,color_LRm15,color_LRm30,color_LRm60,color_LRm240,color_LRm1440;
if (LR_M1 > 0) {M1_LR= "-";color_LRm1 = Lime; }
if (LR_M1 <= 0) {M1_LR= "-";color_LRm1 = Red; }
if (LR_M5 > 0) {M5_LR= "-";color_LRm5 = Lime; }
if (LR_M5 <= 0) {M5_LR= "-";color_LRm5 = Red; }
if (LR_M15 > 0) {M15_LR= "-";color_LRm15 = Lime; }
if (LR_M15 <= 0) {M15_LR= "-";color_LRm15 = Red; }
if (LR_M30 > 0) {M30_LR= "-";color_LRm30 = Lime; }
if (LR_M30 <= 0) {M30_LR= "-";color_LRm30 = Red; }
if (LR_H1 > 0) {H1_LR= "-";color_LRm60 = Lime; }
if (LR_H1 <= 0) {H1_LR= "-";color_LRm60 = Red; }
if (LR_H4 > 0) {H4_LR= "-";color_LRm240 = Lime; }
if (LR_H4 <= 0) {H4_LR= "-";color_LRm240 = Red; }
if (LR_D1 > 0) {D1_LR= "-";color_LRm1440 = Lime; }
if (LR_D1 <= 0) {D1_LR= "-";color_LRm1440 = Red; }
Obj0002 = "SignalLRM1t" + LabelTime ;
ObjectCreate(Obj0002, OBJ_LABEL, 0, 0, 0);
ObjectSetText(Obj0002,IndName, 7, "Tahoma Narrow", BarLabel_color);
ObjectSet(Obj0002, OBJPROP_CORNER, Corner_of_Chart_RIGHT_TOP);
ObjectSet(Obj0002, OBJPROP_XDISTANCE, 155+Adjust_Side_to_side);
ObjectSet(Obj0002, OBJPROP_YDISTANCE, 50+Shift_UP_DN);
Obj0003 = "SignalLRM1" + LabelTime ;
ObjectCreate(Obj0003, OBJ_LABEL, 0, 0, 0);
ObjectSetText(Obj0003, M1_LR, 40, "Tahoma Narrow", color_LRm1);
ObjectSet(Obj0003, OBJPROP_CORNER, Corner_of_Chart_RIGHT_TOP);
ObjectSet(Obj0003, OBJPROP_XDISTANCE, 130+Adjust_Side_to_side);
ObjectSet(Obj0003, OBJPROP_YDISTANCE, 20+Shift_UP_DN);
Obj0004 = "SignalLRM5" + LabelTime ;
ObjectCreate(Obj0004, OBJ_LABEL, 0, 0, 0);
ObjectSetText(Obj0004, M5_LR, 40, "Tahoma Narrow", color_LRm5);
ObjectSet(Obj0004, OBJPROP_CORNER, Corner_of_Chart_RIGHT_TOP);
ObjectSet(Obj0004, OBJPROP_XDISTANCE, 110+Adjust_Side_to_side);
ObjectSet(Obj0004, OBJPROP_YDISTANCE, 20+Shift_UP_DN);
Obj0005 = "SignalLRM15" + LabelTime ;
ObjectCreate(Obj0005, OBJ_LABEL, 0, 0, 0);
ObjectSetText(Obj0005, M15_LR, 40, "Tahoma Narrow", color_LRm15);
ObjectSet(Obj0005, OBJPROP_CORNER, Corner_of_Chart_RIGHT_TOP);
ObjectSet(Obj0005, OBJPROP_XDISTANCE, 90+Adjust_Side_to_side);
ObjectSet(Obj0005, OBJPROP_YDISTANCE, 20+Shift_UP_DN);
Obj0006 = "SignalLRM30" + LabelTime ;
ObjectCreate(Obj0006, OBJ_LABEL, 0, 0, 0);
ObjectSetText(Obj0006, M30_LR, 40, "Tahoma Narrow", color_LRm30);
ObjectSet(Obj0006, OBJPROP_CORNER, Corner_of_Chart_RIGHT_TOP);
ObjectSet(Obj0006, OBJPROP_XDISTANCE, 70+Adjust_Side_to_side);
ObjectSet(Obj0006, OBJPROP_YDISTANCE, 20+Shift_UP_DN);
Obj0007 = "SignalLRM60" + LabelTime ;
ObjectCreate(Obj0007, OBJ_LABEL, 0, 0, 0);
ObjectSetText(Obj0007, H1_LR, 40, "Tahoma Narrow", color_LRm60);
ObjectSet(Obj0007, OBJPROP_CORNER, Corner_of_Chart_RIGHT_TOP);
ObjectSet(Obj0007, OBJPROP_XDISTANCE, 50+Adjust_Side_to_side);
ObjectSet(Obj0007, OBJPROP_YDISTANCE, 20+Shift_UP_DN);
Obj0008 = "SignalLRM240" + LabelTime ;
ObjectCreate(Obj0008, OBJ_LABEL, 0, 0, 0);
ObjectSetText(Obj0008, H4_LR, 40, "Tahoma Narrow", color_LRm240);
ObjectSet(Obj0008, OBJPROP_CORNER, Corner_of_Chart_RIGHT_TOP);
ObjectSet(Obj0008, OBJPROP_XDISTANCE, 30+Adjust_Side_to_side);
ObjectSet(Obj0008, OBJPROP_YDISTANCE, 20+Shift_UP_DN);
Obj0009 = "SignalLRM1440" + LabelTime ;
ObjectCreate(Obj0009, OBJ_LABEL, 0, 0, 0);
ObjectSetText(Obj0009, D1_LR, 40, "Tahoma Narrow", color_LRm1440);
ObjectSet(Obj0009, OBJPROP_CORNER, Corner_of_Chart_RIGHT_TOP);
ObjectSet(Obj0009, OBJPROP_XDISTANCE, 10+Adjust_Side_to_side);
ObjectSet(Obj0009, OBJPROP_YDISTANCE, 20+Shift_UP_DN);
//----
return(0);
}
//+------------------------------------------------------------------+
//+------------------------------------------------------------------+
//| Custom indicator deinitialization function |
//+------------------------------------------------------------------+
int deinit()
{
//----
ObjectsDeleteAll(0,OBJ_HLINE);
ObjectsDeleteAll(0,OBJ_TEXT);
ObjectsDeleteAll(0,OBJ_LABEL);
deleteObject();
//----
return(0);
}
void deleteObject()
{
//ObjectDelete(Obj0001);
ObjectDelete(Obj0002);
ObjectDelete(Obj0003);
ObjectDelete(Obj0004);
ObjectDelete(Obj0005);
ObjectDelete(Obj0006);
ObjectDelete(Obj0007);
ObjectDelete(Obj0008);
ObjectDelete(Obj0009);
ObjectDelete(ObjHead01);
ObjectDelete(ObjHead02);
ObjectDelete(ObjHead03);
ObjectDelete(ObjHead04);
ObjectDelete(ObjHead05);
ObjectDelete(ObjHead06);
ObjectDelete(ObjHead07);
//ObjectDelete(ObjHead08);
//ObjectDelete(ObjHead09);
}
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