TRO_Multi_Meter_LinReg#Pr

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TRO_Multi_Meter_LinReg#Pr

This script functions as a multi-timeframe visual dashboard designed to help traders quickly assess market momentum across various time horizons simultaneously. Instead of requiring you to switch between different charts (like moving from a 1-minute chart to a Daily chart), it consolidates this information into a single on-screen display.

Core Functionality

The primary purpose of the script is to monitor Linear Regression trends. It calculates whether the price movement is currently trending upward or downward across seven different timeframes:

  • Short-Term: 1-minute (M1), 5-minute (M5), and 15-minute (M15)
  • Medium-Term: 30-minute (M30) and 1-hour (H1)
  • Long-Term: 4-hour (H4) and Daily (D1)

How It Works

  1. Trend Detection: The script looks at the difference between the current price direction and a historical point in the past. By comparing these two values, it determines the "slope" of the market.
  2. Visual Signals:
    • If the trend is positive (moving up), the dashboard displays a Lime (Green) indicator.
    • If the trend is negative (moving down), the dashboard displays a Red indicator.
  3. Dashboard Layout: It creates a clean text-based header and a row of signals in a specific corner of your trading chart (defaulting to the top right). This allows you to see "at a glance" if all timeframes are aligned (e.g., all green) or if there is a conflict between short-term and long-term trends.

User Customization

The script provides several options for the user to tailor the experience:

  • Visibility: You can choose whether to show the text headings or specific timeframes.
  • Positioning: There are settings to shift the dashboard up, down, left, or right on the screen so it doesn't block your view of the candles.
  • Color Coding: Users can define their own colors for each specific timeframe to make the dashboard more intuitive.

Summary for the Trader

Think of this script as a "Navigation System." While you might be trading on a small timeframe like the 5-minute chart, this tool keeps you informed about what is happening on the larger Daily and Hourly charts. It helps prevent you from "trading against the trend" by highlighting when the broader market direction differs from your current entry point.

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TRO_Multi_Meter_LinReg#Pr 
//+------------------------------------------------------------------+ 
//|  _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 = true;
 
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 int LRPeriod=13;

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, LRPeriod ,0,myShiftA ) - iCustom(NULL,1,CustomInd1, LRPeriod ,0, myShiftB );
       LR_M5  = iCustom(NULL,5,CustomInd1, LRPeriod ,0,myShiftA ) - iCustom(NULL,5,CustomInd1, LRPeriod ,0, myShiftB );
       LR_M15 = iCustom(NULL,15,CustomInd1, LRPeriod ,0,myShiftA ) - iCustom(NULL,15,CustomInd1, LRPeriod ,0, myShiftB );
       LR_M30 = iCustom(NULL,30,CustomInd1, LRPeriod ,0,myShiftA ) - iCustom(NULL,30,CustomInd1, LRPeriod ,0, myShiftB );
       LR_H1  = iCustom(NULL,60,CustomInd1, LRPeriod ,0,myShiftA ) - iCustom(NULL,60,CustomInd1, LRPeriod ,0, myShiftB );
       LR_H4  = iCustom(NULL,240,CustomInd1, LRPeriod ,0,myShiftA ) - iCustom(NULL,240,CustomInd1, LRPeriod ,0, myShiftB );
       LR_D1  = iCustom(NULL,1440,CustomInd1, LRPeriod ,0,myShiftA ) - iCustom(NULL,1440,CustomInd1, LRPeriod ,0, myShiftB );

double x0 = iCustom(NULL,1440,CustomInd1, LRPeriod ,0, myShiftB );
double x59 = iCustom(NULL,1440,CustomInd1, LRPeriod ,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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