Vegas1HR_v1
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This script is designed as a visual trading tool for MetaTrader platforms, specifically created to help traders identify key price levels and potential areas of interest on a financial chart. It operates by calculating specific moving averages and projecting "risk zones" around them based on user-selected models.
Core Functionality
The tool focuses on two primary moving average lines:
- EMA 144: A long-term trend indicator.
- EMA 169: A secondary trend indicator that serves as the central pivot point for the script's logic.
The Risk Model System
The most unique feature of this script is its ability to switch between four different "Risk Models." Depending on which model you select in the settings, the tool automatically generates three support and three resistance levels branching out from the EMA 169.
Think of these as a "buffer zone" or a "grid" around the main trend line. The script takes the current value of the EMA 169 and adds or subtracts specific mathematical distances (based on Fibonacci-style increments) to create:
- Upper Levels (F+): Three lines projected above the trend to act as potential resistance or target areas.
- Lower Levels (F-): Three lines projected below the trend to act as potential support or safety zones.
By switching models, a trader can adjust how "wide" or "tight" these risk zones are, allowing for different trading styles—ranging from conservative and wide buffers to aggressive and narrow ones.
Visual and Auditory Feedback
To ensure the trader doesn't miss critical price action, the script includes two main feedback systems:
- On-Screen Dashboard: The tool displays a real-time text comment on the chart. This provides the exact numerical values for every active line (the EMAs and all six risk levels), making it easy to track precise price points at a glance.
- Audio Alerts: The script monitors the current closing price of the asset. If the price touches or intersects with any of the primary moving averages or any of the six risk levels, the system triggers an audible alert sound. This allows traders to react immediately to price interactions without needing to watch the screen constantly.
Summary for the User
In short, this tool transforms standard trend lines into a comprehensive "safety net." It tells you where the price is trending, defines specific zones where the price might react or reverse based on your preferred risk model, and notifies you the moment the price interacts with those key boundaries.
Indicators Used
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Vegas1HR_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);
}
//+------------------------------------------------------------------+
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