MT4 Signal Indicator HOT&COOL
Created on Saturday, June 26, 2021 3:53 PM
//@version=4
study("HMA-Kahlman Trend & Trendlines", precision=2, overlay=true)
// compilation: capissimo
// This script utilizes two modules, Trendlines Module (by Joris Duyck) and HMA-Kahlman Trend Module.
// Trendlines module produces crossovers predictive of the next local trend.
//*** HMA-Kahlman Trend Module
price = input(hl2, "Price Data (hl2)")
hkmod = input(true, "===HMA-Kahlman Trend Module===")
length = input(22, "Lookback Window", minval=2)
k = input(true, "Use Kahlman")
gain = input(.7, "Gain", minval=.0001, step=.01)
labels = input(true, "Show Labels?")
o = input(true, "Use Offset")
hma(x, p) => wma((2 * wma(x, p / 2)) - wma(x, p), round(sqrt(p)))
hma3() => p = length/2, wma(wma(close, p/3)*3 - wma(close, p/2) - wma(close, p), p)
kahlman(x, g) =>
kf = 0.0
dk = x - nz(kf[1], x)
smooth = nz(kf[1],x)+dk*sqrt(g*2)
velo = 0.0
velo := nz(velo[1],0) + (g*dk)
kf := smooth+velo
a = k ? kahlman(hma(price, length), gain) : hma(price, length)
b = k ? kahlman(hma3(), gain) : hma3()
c = b > a ? color.lime : color.red
crossdn = a > b and a[1] < b[1]
crossup = b > a and b[1] < a[1]
ofs = o ? -1 : 0
fill(plot(a,color=c,linewidth=1,transp=75), plot(b,color=c,linewidth=1,transp=75), color=c, transp=55)
plotshape(labels and crossdn ? a : na, location=location.abovebar, style=shape.labeldown, color=color.red, size=size.tiny, text="Hot", textcolor=color.white, transp=0, offset=ofs)
plotshape(labels and crossup ? a : na, location=location.belowbar, style=shape.labelup, color=color.green, size=size.tiny, text="Cool", textcolor=color.white, transp=0, offset=ofs)
//*** Trendlines Module, see https://www.tradingview.com/script/mpeEgn5J-Trendlines-JD/
tlmod = input(true, "===Trendlines Module===")
l1 = input(2, "Pivots Lookback Window", minval=1)
trendline(input_function, delay, only_up) => // Calculate line coordinates (Ax,Ay) - (Bx,By)
var int Ax = 0, var int Bx = 0, var float By = 0.0, var float slope = 0.0
Ay = fixnan(input_function)
if change(Ay)!=0
Ax := time[delay], By:= Ay[1], Bx := Ax[1]
slope := ((Ay-By)/(Ax-Bx))
else
Ax := Ax[1], Bx := Bx[1], By := By[1]
var line trendline=na, var int Axbis=0, var float Aybis=0.0, var bool xtend=true
extension_time = 0
Axbis := Ax + extension_time
Aybis := (Ay + extension_time*slope)
if tlmod and change(Ay)!=0
line_color = slope*time<0?(only_up?na:color.red):(only_up?color.lime:na)
if not na(line_color)
trendline = line.new(Bx,By,Axbis, Aybis, xloc.bar_time, extend=xtend?extend.right:extend.none, color=line_color, style=line.style_dotted, width=1)
line.delete(trendline[1])
slope
pivot(len) =>
high_point = pivothigh(high, len,len/2)
low_point = pivotlow(low, len,len/2)
slope_high = trendline(high_point, len/2,false)
slope_low = trendline(low_point, len/2,true)
[high_point, low_point, slope_high, slope_low]
[high_point1, low_point1, slope_high1, slope_low1] = pivot(l1)
color_high1 = slope_high1 * time<0 ? color.red : na
color_low1 = slope_low1 * time>0 ? color.lime : na
plot(tlmod ? high_point1 : na, color=color_high1, offset=-l1/2, linewidth=2)
plot(tlmod ? low_point1 : na, color=color_low1, offset=-l1/2, linewidth=2)
This indicator can be used as a signal provider for the Foxzard Trader Expert Advisor.
LOADING
Buy Conditions
Sell Conditions
Condition 1
Stochastic Signal
%K:5 %D:3 Slowing:3 MA Method:Simple Price Field:Low/High
points Up
%K:5 %D:3 Slowing:3 MA Method:Simple Price Field:Low/High
points Up
Condition 2
Stochastic Signal
%K:5 %D:3 Slowing:3 MA Method:Simple Price Field:Low/High
changes from pointing down to up
%K:5 %D:3 Slowing:3 MA Method:Simple Price Field:Low/High
changes from pointing down to up
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To use this custom indicator on Metatrader 4 platform you need:
- Download the MT4 version of this indicator and copy it into your metatrader experts/indicators folder.
- Restart your Metatrader 4 terminal.
- Indicator will appear under Custom Indicators section. Attach the indicator on the chart.
To use this signal pine script on TradingView platform you need:
- Download the pinescript version of this signal.
- Open the downloaded text file and copy contents into the tradingview script editor.
- Click the "Add to Chart" button.
Use it at your own risk!
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