tunnel_v1
Download script
The Vegas indicator is a technical analysis tool designed to help traders visualize price action relative to specific moving averages and dynamic "risk zones." Rather than relying on simple trend lines, it uses a mathematical approach to create a structured environment for identifying potential entry or exit points.
Core Mechanics
The script primarily operates by calculating two specific types of Exponential Moving Averages (EMA):
- The Primary Baseline: A 144-period moving average.
- The Dynamic Anchor: A 169-period moving average, which serves as the foundation for the rest of the indicator's calculations.
Risk Models and Zone Mapping
The most unique feature of this script is its "Risk Model" system. Based on your selection (Models 1 through 4), the tool automatically generates a series of price levels branching off from the 169 EMA. These are organized into three distinct clusters:
- Positive Deviations (+): Three levels calculated above the anchor, representing potential upper boundaries or resistance areas.
- Negative Deviations (-): Three levels calculated below the anchor, representing potential lower boundaries or support areas.
- Variable Scaling: Each model uses different "point" increments (such as Fibonacci-inspired numbers like 34, 55, 89, 144, and 233). By switching models, you can adjust the width of the price zones to suit different market volatilities—from tight ranges in stable markets to wider spans for high-volatility moves.
Real-Time Information and Alerts
The indicator provides two immediate ways to interact with the market data:
- On-Screen Data Feed: The script constantly updates a text comment on your chart. This provides you with the exact numerical values of all active levels (EMA 144, EMA 169, and all F+ and F- levels) in real-time.
- Automated Audio Alerts: To ensure you don't miss critical price action, the script monitors the current closing price of the asset. If the price touches or intersects any of the calculated moving averages or the specific risk model levels, the system will trigger an audible alert.
Summary for the Trader
In essence, this tool transforms a standard chart into a multi-layered "map." It allows you to see not just where the price is currently moving, but where it sits in relation to a complex web of calculated support and resistance zones. By selecting the appropriate Risk Model, you can customize these zones to better reflect your specific trading strategy's tolerance for risk.
Indicators Used
Miscellaneous
14
Views
0
Downloads
0
Favorites
tunnel_v1
/*-----------------------------+
| |
| Shared by www.Aptrafx.com |
| |
+------------------------------*/
//+------------------------------------------------------------------+
//| Vegas.mq4 |
//| Mr.Bah |
//| |
//+------------------------------------------------------------------+
#property copyright "Mr.Bah"
#property link ""
#property indicator_chart_window
#property indicator_buffers 8
#property indicator_color1 Green
#property indicator_color2 Blue
#property indicator_color3 Red
#property indicator_color4 Red
#property indicator_color5 Red
#property indicator_color6 Red
#property indicator_color7 Red
#property indicator_color8 Red
//---- input parameters
extern bool Alerts=true;
extern int RiskModel=1;
extern int MA1=144;
extern int MA2=169;
//---- buffers
double ExtMapBuffer1[];
double ExtMapBuffer2[];
double ExtMapBuffer3[];
double ExtMapBuffer4[];
double ExtMapBuffer5[];
double ExtMapBuffer6[];
double ExtMapBuffer7[];
double ExtMapBuffer8[];
//+------------------------------------------------------------------+
//| Custom indicator initialization function |
//+------------------------------------------------------------------+
int init()
{
//---- indicators
SetIndexStyle(0,DRAW_LINE);
SetIndexBuffer(0,ExtMapBuffer1);
SetIndexStyle(1,DRAW_LINE);
SetIndexBuffer(1,ExtMapBuffer2);
SetIndexStyle(2,DRAW_LINE);
SetIndexBuffer(2,ExtMapBuffer3);
SetIndexStyle(3,DRAW_LINE);
SetIndexBuffer(3,ExtMapBuffer4);
SetIndexStyle(4,DRAW_LINE);
SetIndexBuffer(4,ExtMapBuffer5);
SetIndexStyle(5,DRAW_LINE);
SetIndexBuffer(5,ExtMapBuffer6);
SetIndexStyle(6,DRAW_LINE);
SetIndexBuffer(6,ExtMapBuffer7);
SetIndexStyle(7,DRAW_LINE);
SetIndexBuffer(7,ExtMapBuffer8);
//----
return(0);
}
//+------------------------------------------------------------------+
//| Custor indicator deinitialization function |
//+------------------------------------------------------------------+
int deinit()
{
//----
//----
return(0);
}
//+------------------------------------------------------------------+
//| Custom indicator iteration function |
//+------------------------------------------------------------------+
int start()
{
int limit;
int counted_bars=IndicatorCounted();
//---- check for possible errors
if(counted_bars<0) return(-1);
//---- last counted bar will be recounted
if(counted_bars>0) counted_bars--;
limit=Bars-counted_bars;
//---- main loop
for(int i=0; i<limit; i++)
{
//---- ma_shift set to 0 because SetIndexShift called abowe
ExtMapBuffer1[i]=iMA(NULL,0,144,0,MODE_EMA,PRICE_CLOSE,i);
ExtMapBuffer2[i]=iMA(NULL,0,169,0,MODE_EMA,PRICE_CLOSE,i);
//Model #1 34,55,89
if(RiskModel==1)
{
ExtMapBuffer3[i]=ExtMapBuffer2[i]+34*Point;
ExtMapBuffer4[i]=ExtMapBuffer2[i]+55*Point;
ExtMapBuffer5[i]=ExtMapBuffer2[i]+89*Point;
ExtMapBuffer6[i]=ExtMapBuffer2[i]-34*Point;
ExtMapBuffer7[i]=ExtMapBuffer2[i]-55*Point;
ExtMapBuffer8[i]=ExtMapBuffer2[i]-89*Point;
}
//Model #2 55,89,144
if(RiskModel==2)
{
ExtMapBuffer3[i]=ExtMapBuffer2[i]+55*Point;
ExtMapBuffer4[i]=ExtMapBuffer2[i]+89*Point;
ExtMapBuffer5[i]=ExtMapBuffer2[i]+144*Point;
ExtMapBuffer6[i]=ExtMapBuffer2[i]-55*Point;
ExtMapBuffer7[i]=ExtMapBuffer2[i]-88*Point;
ExtMapBuffer8[i]=ExtMapBuffer2[i]-144*Point;
}
//Model #3 89,144,233
if(RiskModel==3)
{
ExtMapBuffer3[i]=ExtMapBuffer2[i]+89*Point;
ExtMapBuffer4[i]=ExtMapBuffer2[i]+144*Point;
ExtMapBuffer5[i]=ExtMapBuffer2[i]+233*Point;
ExtMapBuffer6[i]=ExtMapBuffer2[i]-89*Point;
ExtMapBuffer7[i]=ExtMapBuffer2[i]-144*Point;
ExtMapBuffer8[i]=ExtMapBuffer2[i]-233*Point;
}
//Model #4 144,233,377
if(RiskModel==4)
{
ExtMapBuffer3[i]=ExtMapBuffer2[i]+144*Point;
ExtMapBuffer4[i]=ExtMapBuffer2[i]+233*Point;
ExtMapBuffer5[i]=ExtMapBuffer2[i]+377*Point;
ExtMapBuffer6[i]=ExtMapBuffer2[i]-144*Point;
ExtMapBuffer7[i]=ExtMapBuffer2[i]-233*Point;
ExtMapBuffer8[i]=ExtMapBuffer2[i]-377*Point;
}
Comment("\nRISK MODEL #",RiskModel," (1-4)\n\nEMA144 - ",ExtMapBuffer1[limit],"\nEMA169 - ",ExtMapBuffer2[limit],
"\n\nF+1 - ",ExtMapBuffer3[limit],"\nF+2 - ",ExtMapBuffer4[limit],
"\nF+3 - ",ExtMapBuffer5[limit],"\n\nF-1 - ",ExtMapBuffer6[limit],
"\nF-2 - ",ExtMapBuffer7[limit],"\nF-3 - ",ExtMapBuffer8[limit]);
}
//+--------------------------------------------------------------------------+
//- ALERTS PlaySound("alert.wav"); -
//+--------------------------------------------------------------------------+
if(Alerts)
{
if(Close[i]==ExtMapBuffer1[i] || Close[i]==ExtMapBuffer2[i])
{
PlaySound("alert.wav");
}
if(Close[i]==ExtMapBuffer3[i] || Close[i]==ExtMapBuffer4[i] || Close[i]==ExtMapBuffer5[i])
{
PlaySound("alert.wav");
}
if(Close[i]==ExtMapBuffer6[i] || Close[i]==ExtMapBuffer7[i] || Close[i]==ExtMapBuffer8[i])
{
PlaySound("alert.wav");
}
}
//---- done
//----
//----
return(0);
}
//+------------------------------------------------------------------+
//+------------------------------------------------------------------+
Comments