Brief description:
The indicator was originally developed for MT4 by TudorGirl (AnneTudor@ymail.com).
The indicator detects the trend using CCI indicator. If CCI value is bigger than the previous the trend is recognized as up trend. If CCI value is smaller than the previous value, the trend is recognized as down trend. If line goes up or down - the trend is strong. If the line is straight - the trend is weak.
Formula:
if CCI[0] >= CCI[-1]
UP[0] = MAX(UP[-1], LOW[0] - ATR)
else
DN[0] = MIN(DN[1], HIGH[0] + ATR)
endPreview indicator:
Changes in this version comparing the previous version:
1) The lines are replaced with dots. Unfortunately, the original indicator due to implementation issues (however, exactly the same issues as for MT4 implementation) "hides" short-term switches of the trend on the flat market. Please take a look at snapshot below with both indicators applied. There is at least two points when old implementation draws continuous red line while new implementation exactly shows that the indicator switched back and forth.
2) A few changes for better usage in signals are introduced.
Download the indicator:
TrendMagic1.lua- (3.3 KiB) Downloaded 3287 times
See also TrendMagic + Sar strategy and signal here:
viewtopic.php?f=31&t=2375
As you can see, I renamed the indicator, so you can use both versions, whichever is more convenient for you at the moment.
Source code:
- Code: Select all
-- original MT4 implementation (c) TudorGirl (AnneTudor@ymail.com).
function Init()
indicator:name("TrendMagic Indicator (new version)");
indicator:description("");
indicator:requiredSource(core.Bar);
indicator:type(core.Indicator);
indicator.parameters:addGroup("Parameters");
indicator.parameters:addInteger("CCI", "CCI", "", 50);
indicator.parameters:addInteger("ATR", "ATR", "", 5);
indicator.parameters:addBoolean("Signal", "Signal Mode", "Don't change this parameter when use indicator on chart", false);
indicator.parameters:addGroup("Style");
indicator.parameters:addColor("UP_color", "Color of UP", "Color of UP", core.rgb(0, 255, 0));
indicator.parameters:addColor("DN_color", "Color of DN", "Color of DN", core.rgb(255, 0, 0));
indicator.parameters:addInteger("width", "Dot Size", "", 2, 1, 5);
end
local pCCI;
local pATR;
local first;
local source = nil;
local ATR = nil;
local CCI = nil;
local SIG = nil;
local dotUp, dotDown;
local bufferUp, bufferDown;
function Prepare(onlyName)
pCCI = instance.parameters.CCI;
pATR = instance.parameters.ATR;
source = instance.source;
local name = profile:id() .. "(" .. source:name() .. ", " .. pATR .. ", " .. pCCI .. ")";
instance:name(name);
if onlyName then
return ;
end
ATR = core.indicators:create("ATR", source, pATR);
CCI = core.indicators:create("CCI", source, pCCI);
first = math.max(ATR.DATA:first(), CCI.DATA:first()) + 1;
dotUp = instance:addStream("UP", core.Dot, name .. ".UP", "UP", instance.parameters.UP_color, first);
dotUp:setWidth(instance.parameters.width);
dotDn = instance:addStream("DN", core.Dot, name .. ".DN", "DN", instance.parameters.DN_color, first);
dotDn:setWidth(instance.parameters.width);
bufferUp = instance:addInternalStream(first, 0);
bufferDn = instance:addInternalStream(first, 0);
if instance.parameters.Signal then
SIG = instance:addStream("SIG", core.Line, name .. ".SIG", "SIG", core.rgb(0, 0, 0), first);
else
SIG = instance:addInternalStream(0, 0);
end
end
function Update(period, mode)
ATR:update(mode);
CCI:update(mode);
if period >= first then
local thisCCI, v;
thisCCI = CCI.DATA[period];
if thisCCI >= 0 then
SIG[period] = 1;
else
SIG[period] = -1;
end
if SIG[period] == 1 and SIG[period - 1] == -1 then
bufferUp[period - 1] = bufferDn[period - 1];
end
if SIG[period] == -1 and SIG[period - 1] == 1 then
bufferDn[period - 1] = bufferUp[period - 1];
end
if SIG[period] == 1 then
v = source.low[period] - ATR.DATA[period];
if SIG[period - 1] ~= 0 and v < bufferUp[period - 1] then
v = bufferUp[period - 1];
end
bufferUp[period] = v;
dotUp[period] = v;
elseif SIG[period] == -1 then
v = source.high[period] + ATR.DATA[period];
if SIG[period - 1] ~= 0 and v > bufferDn[period - 1] then
v = bufferDn[period - 1];
end
bufferDn[period] = v;
dotDn[period] = v;
end
else
SIG[period] = 0;
end
end
