4Hour Vegas Model Indicator For MT4

4Hour Vegas Model Indicator For MT4

The 4Hour Vegas Model Indicator For MT4 is a technical indicator which models its oscillations through market analysis of the moving average on a four-hourly basis therefore the resulting oscillator forms a set of steady steps to define and visually display trend direction and the corresponding momentum thereof. The strength of the trend is seen by the vertical green lines and the height/steepness of each step formed by the blue line so the steeper the step and the higher the green vertical lines then the stronger the strength of the current trend therefore the trader may use this indicator to detect market exhaustion instances because market exhaustion is a leading indicator for trend reversals. Beyond this basic use case and the fact that this indicator was intended for higher time frames, traders are still encouraged to use this indicator for other trading strategies which edify their trading experiences and their trading portfolios.

FREE 4Hour Vegas Model Indicator

Download the FREE 4Hour Vegas Model Indicator for MT4.

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Installing the 4Hour Vegas Model Indicator For MT4

After you downloaded the indicator via the form above you need to unzip the zip-file. Then you need to copy the file 4hVegasMetaTraderWeeklyIndicator-V11.mq4 into the folder MQL4\Indicators of your MT4 installation. After that please restart MT4 and then you will be able to see the indicator in the list of indicators.

Parameters of the 4Hour Vegas Model Indicator For MT4

The 4Hour Vegas Model Indicator For MT4 has 0 parameters to configure.

Buffers of the 4Hour Vegas Model Indicator For MT4

The 4Hour Vegas Model Indicator For MT4 provides 3 buffers.

SetIndexBuffer(0,_maDiff);
SetIndexBuffer(1,_upTrend);
SetIndexBuffer(2,_downTrend);

Main Parts Of The Code

int start()
{
  int    limit, weekIndex;
  double EMA21;
  double SMA5;
  double EMA21Prev;
  double SMA5Prev;
  string ValueIndex;
  string Direction;  
  // Always prepare all of the information for the other indicators
  limit=Bars;
  //---- main loop
  for(int i=limit; i gt =0; i--) 
  {
  	weekIndex=i/30;	
    //---- Calculate the current weekly trend
    EMA21=iMA(Symbol(), PERIOD_W1, 21, 0, MODE_EMA, PRICE_MEDIAN, weekIndex);
    SMA5 =iMA(Symbol(), PERIOD_W1, 5, 0, MODE_SMA, PRICE_MEDIAN, weekIndex);
    //---- Calculate the previous weekly trend
    EMA21Prev=iMA(Symbol(), PERIOD_W1, 21, 0, MODE_EMA, PRICE_MEDIAN, weekIndex+1);
    SMA5Prev =iMA(Symbol(), PERIOD_W1, 5, 0, MODE_SMA, PRICE_MEDIAN, weekIndex+1);
    // Calculate the difference of the MAs
    _maDiff[i] = SMA5-EMA21;
    // Calculate the difference of the MAs
    if (((SMA5-EMA21) - (SMA5Prev-EMA21Prev))  gt  0.0 ) 
    {
      _upTrend[i] = (SMA5-EMA21)- (SMA5Prev-EMA21Prev);
      _downTrend[i] = 0.0;
      Direction = "UP";
     }
      else if (((SMA5-EMA21) - (SMA5Prev-EMA21Prev))  lt  0.0 ) 
     {
      _upTrend[i] = 0.0;
      _downTrend[i] = (SMA5-EMA21) - (SMA5Prev-EMA21Prev);
      Direction = "DOWN";
    }
    // Calculate the start of the week and publish the value in a global variable
    // Publish this with the previous Sunday as the index
    ValueIndex = TimeToStr(Time[i]-TimeDayOfWeek(Time[i]),TIME_DATE);
    Comment(Symbol() + "-ThisWeekDirection-" + ValueIndex + "
" + Direction + ":(" + ((SMA5-EMA21) - (SMA5Prev-EMA21Prev)) + ")");
    GlobalVariableSet(Symbol() + "-ThisWeekDirection-" + ValueIndex, ((SMA5-EMA21) - (SMA5Prev-EMA21Prev)));
  }      
   return(0);
  }
//+------------------------------------------------------------------+

 

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