wma_cross

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Author: Kalenzo
wma_cross

This technical indicator is designed to analyze market trends and provide visual signals on a trading chart to help identify potential entry and exit points. It operates by monitoring the relationship between three different moving averages, which serve as smoothed representations of price history over varying timeframes.

Core Trading Logic

The script differentiates between short-term momentum and long-term trends to generate specific alerts:

1. Entry Signals (Buy and Sell) The indicator looks for "crossovers" between a fast-moving average (short period) and a slow-moving average (long period).

  • Buy Signal: When the short-term average moves from below to above the long-term average, it suggests upward momentum. The script identifies this point and places a visual signal on the chart.
  • Sell Signal: When the short-term average moves from above to below the long-term average, it suggests downward momentum. The script identifies this reversal point and places a corresponding signal.

2. Exit Signals (Take Profit / Stop Loss Assistance) In addition to entry points, the script utilizes a third "middle" moving average to help traders decide when to close an existing position.

  • Closing a Short Position: If the short-term trend turns upward against the middle average while the price remains below the long-term trend, the script identifies a potential exit for a sell trade.
  • Closing a Long Position: If the short-term trend turns downward against the middle average while the price remains above the long-term trend, the script identifies a potential exit for a buy trade.

User Experience Features

To make the data actionable for a live trader, the script includes several automated notifications:

  • Visual Markers: The logic automatically places arrows on the chart at specific price points (slightly above or below the candle highs/lows) to highlight exactly where signals occur.
  • Audio Alerts: When a new entry signal is detected, the script can trigger an audible sound file to grab the trader's attention immediately.
  • On-Screen Commentary: The tool provides a real-time text summary in the corner of the chart, displaying the current Buy or Sell signal along with essential data such as the current Ask/Bid prices, the exact date and time, the currency symbol, and the timeframe being viewed.
Price Data Components
Series array that contains the lowest prices of each barSeries array that contains open time of each barSeries array that contains the highest prices of each barSeries array that contains close prices for each bar
Indicators Used
Moving average indicator
Miscellaneous
Implements a curve of type %1It plays sound alerts
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wma_cross 
//+------------------------------------------------------------------+
//|                                                       
//|                                                          Kalenzo |
//|                                                  simone@konto.pl |
//+------------------------------------------------------------------+

#property copyright "Kalenzo"
#property link      "simone@konto.pl"

#property indicator_chart_window
#property indicator_color1 Blue
#property indicator_color2 Red
#property indicator_color3 Aqua
#property indicator_color4 DeepPink
extern bool UseSound = True;
extern bool TypeChart = True;
extern string NameFileSound = "alert.wav";
extern int ShortPeriod = 5;
extern int BigPeriod = 50;
extern int ExitPeriod = 20;

#property indicator_buffers 4
//---- input parameters
//---- buffers
double UpBuffer[];
double DnBuffer[];
double ExitLong[];
double ExitShort[];
//+------------------------------------------------------------------+
//| Custom indicator initialization function                         |
//+------------------------------------------------------------------+
int init()
  {
//---- indicators

  // IndicatorBuffers(2);
   SetIndexStyle(0,DRAW_ARROW,EMPTY,1);
   SetIndexStyle(1,DRAW_ARROW,EMPTY,1);
   SetIndexStyle(2,DRAW_ARROW,EMPTY,1);
  SetIndexStyle(3,DRAW_ARROW,EMPTY,1);
  
   SetIndexBuffer(0,UpBuffer);
   SetIndexBuffer(1,DnBuffer);
   SetIndexBuffer(2,ExitLong);
   SetIndexBuffer(3,ExitShort);
  
   SetIndexArrow(0,108);
   SetIndexArrow(1,108);
   SetIndexArrow(2,251);
   SetIndexArrow(3,251);

   SetIndexLabel(0,"Up Signal");
   SetIndexLabel(1,"Down Signal");
   SetIndexLabel(2,"Exit Long");
   SetIndexLabel(3,"Exit Short");

//----
   return(0);
  }
//+------------------------------------------------------------------+
//| Custor indicator deinitialization function                       |
//+------------------------------------------------------------------+
int deinit()
  {
//---- 
   
//----
   return(0);
  }
//+------------------------------------------------------------------+
//| Custom indicator iteration function                              |
//+------------------------------------------------------------------+
int start()
  {
  
   int limit;
   int counted_bars=IndicatorCounted();
   if(counted_bars<0) counted_bars=0;
   if(counted_bars>0) counted_bars--;
   limit=Bars-counted_bars;
   
  
   for(int i = 0 ;i < limit ;i++)
   { 
      double pwma5 = iMA(Symbol(),0,ShortPeriod,0,MODE_LWMA,PRICE_CLOSE,i+1);
      double cwma5 = iMA(Symbol(),0,ShortPeriod,0,MODE_LWMA,PRICE_CLOSE,i);
      
      double pwma50 = iMA(Symbol(),0,BigPeriod,0,MODE_LWMA,PRICE_CLOSE,i+1);
      double cwma50 = iMA(Symbol(),0,BigPeriod,0,MODE_LWMA,PRICE_CLOSE,i);
      
      double pwma20 = iMA(Symbol(),0,ExitPeriod,0,MODE_LWMA,PRICE_CLOSE,i+1);
      double cwma20 = iMA(Symbol(),0,ExitPeriod,0,MODE_LWMA,PRICE_CLOSE,i);
       
      if( cwma5 > cwma50 && pwma5 <= pwma50)
      {  
        UpBuffer[i] = iLow(Symbol(),0,i)-(3*Point);
        DnBuffer[i] = EMPTY_VALUE;
      if (UseSound==1) PlaySound(NameFileSound);
      if (TypeChart==1) Comment ("Buy signal at Ask=",Ask,", Bid=",Bid,", Date=",TimeToStr(CurTime(),TIME_DATE)," ",TimeHour(CurTime()),":",TimeMinute(CurTime())," Symbol=",Symbol()," Period=",Period());
      }
      
      else if( pwma5 >= pwma50 && cwma5 < cwma50)
      {
        UpBuffer[i] = EMPTY_VALUE;
        DnBuffer[i] = iHigh(Symbol(),0,i)+(3*Point);
      if (UseSound==1) PlaySound(NameFileSound);
      if (TypeChart==1) Comment ("Sell signal at Ask=",Ask,", Bid=",Bid,", Date=",TimeToStr(CurTime(),TIME_DATE)," ",TimeHour(CurTime()),":",TimeMinute(CurTime())," Symbol=",Symbol()," Period=",Period());
      }
      else
      {
        DnBuffer[i] = EMPTY_VALUE;
        UpBuffer[i] = EMPTY_VALUE;
      }
      
      if( cwma5 > cwma20 && pwma5 <= pwma20 && iClose(Symbol(),0,i) < cwma50)
      {  
        ExitShort[i] = iHigh(Symbol(),0,i)+(3*Point);
        ExitLong[i] =  EMPTY_VALUE;
      }
      else if( pwma5 >= pwma20 && cwma5 < cwma20 && iClose(Symbol(),0,i) > cwma50)
      {
        ExitShort[i] = EMPTY_VALUE;
        ExitLong[i] = iLow(Symbol(),0,i)-(3*Point);
      }
      else
      {
        ExitShort[i] = EMPTY_VALUE;
        ExitLong[i] = EMPTY_VALUE;
      }
  
   }
//----

   return(0);
  }
//+------------------------------------------------------------------+

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