Absolute Strength Indicator For MT5

Absolute Strength Indicator For MT5

Table Of Contents:

  1. Absolute Strength Indicator For MT5
  2. Installing the Absolute Strength Indicator For MT5
  3. Parameters of the Absolute Strength Indicator For MT5
  4. Buffers of the Absolute Strength Indicator For MT5
  5. Main Parts Of The Code

The Absolute Strength Indicator For MT5 defines the strength of a trend with absolute levels instead of dynamic levels. The indicators RSI, DMI and Stochastic are using dynamic levels. This indicator uses fixed levels to define the strength of the bulls in comparison to the strength of the bears. The strength of the bulls is drawn with blue color. The strength of the bears is drawn with orange color. The distance between the orange and the blue line in the histogram defines the strength of the trend. If the orange line is above the blue line then a downward trend is detected. Otherwise an upward trend is signaled.

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Installing the Absolute Strength Indicator For MT5

After you downloaded the indicator via the form above you need to unzip the zip-file. Then you need to copy the file absolutestrength_v2.mq5 into the folder MQL5\Indicators of your MT5 installation. After that please restart MT5 and then you will be able to see the indicator in the list of indicators.

Parameters of the Absolute Strength Indicator For MT5

The Absolute Strength Indicator For MT5 has 14 parameters to configure.

input ENUM_TIMEFRAMES      TimeFrame         =     0; input ENUM_MATH_MODE       MathMode          =     0; // Math method input ENUM_APPLIED_PRICE   Price             =  PRICE_CLOSE;   //Apply to input int                  Length            =    10; // Period of Evaluation input int                  PreSmooth         =     1; // Period of PreSmoothing input int                  Smooth            =     1; // Period of Smoothing input int                  Signal            =     1; // Period of Signal Line input ENUM_SMOOTH_MODE     MA_Mode           =     1; // Moving Average Mode input ENUM_LEVELS_MODE     LevelsMode        =     0; input double               StrengthLevel     =    70; // Strength Level (ex.70) input double               WeaknessLevel     =    30; // Weakness Level (ex.30) input int                  LookBackPeriod    =    30; // LookBack Period for LevelsMode=2,3 input double               UpperMultiplier   =     1; // Upper Band Multiplier for LevelsMode=2 input double               LowerMultiplier   =     1; // Lower Band Multiplier for LevelsMode=2 

Buffers of the Absolute Strength Indicator For MT5

The Absolute Strength Indicator For MT5 provides 12 buffers.

SetIndexBuffer(0,      Bulls,INDICATOR_DATA); SetIndexBuffer(1,      Bears,INDICATOR_DATA); SetIndexBuffer(2,signalBulls,INDICATOR_DATA); SetIndexBuffer(3,signalBears,INDICATOR_DATA); SetIndexBuffer(4,   strength,INDICATOR_DATA); SetIndexBuffer(5,   weakness,INDICATOR_DATA); SetIndexBuffer(6,      price,INDICATOR_CALCULATIONS); SetIndexBuffer(7,    loprice,INDICATOR_CALCULATIONS); SetIndexBuffer(8,      bulls,INDICATOR_CALCULATIONS); SetIndexBuffer(9,      bears,INDICATOR_CALCULATIONS); SetIndexBuffer(10,    lbulls,INDICATOR_CALCULATIONS); SetIndexBuffer(11,    lbears,INDICATOR_CALCULATIONS); 

Main Parts Of The Code

int OnCalculate(const int      rates_total,                 const int      prev_calculated,                 const datetime &Time[],                 const double   &Open[],                 const double   &High[],                 const double   &Low[],                 const double   &Close[],                 const long     &TickVolume[],                 const long     &Volume[],                 const int      &Spread[]) {    int i, x, y, shift, limit, mtflimit, len, copied;    double up, lo, upPivot, dnPivot;    datetime mtf_time; //--- preliminary calculations    if(prev_calculated == 0)     {    limit = 0;     mtflimit = rates_total - 1;    ArrayInitialize(Bulls,EMPTY_VALUE);    ArrayInitialize(Bears,EMPTY_VALUE);    ArrayInitialize(signalBulls,EMPTY_VALUE);    ArrayInitialize(signalBears,EMPTY_VALUE);    ArrayInitialize(strength,0);    ArrayInitialize(weakness,0);    }    else     {    limit = prev_calculated-1;    mtflimit = PeriodSeconds(tf)/PeriodSeconds(Period());    }        copied = CopyBuffer(Price_handle,0,0,rates_total - 1,price);        if(copied lt 0)    {    Print("not all prices copied. Will try on next tick Error =",GetLastError(),", copied =",copied);    return(0);    }        if(MathMode == 2)    {    copied = CopyBuffer(Lo_handle,0,0,rates_total - 1,loprice);           if(copied lt 0)       {       Print("not all prices copied. Will try on next tick Error =",GetLastError(),", copied =",copied);       return(0);       }    } //--- the main loop of calculations    if(tf  gt  Period())    {    ArraySetAsSeries(Time,true);             for(shift=0,y=0;shift lt mtflimit;shift++)       {       if(Time[shift]  lt  iTime(NULL,TimeFrame,y)) y++;        mtf_time = iTime(NULL,TimeFrame,y);              x = rates_total - shift - 1;              copied = CopyBuffer(mtf_handle,0,mtf_time,mtf_time,mtf_bulls);       if(copied  lt = 0) return(0);       copied = CopyBuffer(mtf_handle,1,mtf_time,mtf_time,mtf_bears);       if(copied  lt = 0) return(0);              Bulls[x] = mtf_bulls[0];       Bears[x] = mtf_bears[0];                 if(Signal  gt  1)          {          copied = CopyBuffer(mtf_handle,2,mtf_time,mtf_time,mtf_sigbulls);          if(copied  lt = 0) return(0);          copied = CopyBuffer(mtf_handle,3,mtf_time,mtf_time,mtf_sigbears);          if(copied  lt = 0) return(0);                    signalBulls[x] = mtf_sigbulls[0];          signalBears[x] = mtf_sigbears[0];          }              copied = CopyBuffer(mtf_handle,4,mtf_time,mtf_time,mtf_strength);       if(copied  lt = 0) return(0);       copied = CopyBuffer(mtf_handle,5,mtf_time,mtf_time,mtf_weakness);       if(copied  lt = 0) return(0);              strength[x] = mtf_strength[0];       weakness[x] = mtf_weakness[0];       }    }    else    for(shift=limit;shift lt rates_total;shift++)    {       if(shift  gt  Length)       {                    switch(MathMode)          {          case 0:     bulls[shift] = 0.5*(MathAbs(price[shift] - price[shift-1]) + (price[shift] - price[shift-1]))/_point;                      bears[shift] = 0.5*(MathAbs(price[shift] - price[shift-1]) - (price[shift] - price[shift-1]))/_point;                      break;                      case 1:     up = 0; lo = 10000000000;                         for(i=0;i lt Length;i++)                         {                            up = MathMax(up,High[shift-i]);                         lo = MathMin(lo,Low [shift-i]);                         }                                                                bulls[shift] = (price[shift] - lo)/_point;                      bears[shift] = (up - price[shift])/_point;                      break;                       case 2:     bulls[shift] = MathMax(0,0.5*(MathAbs(price[shift]     - price[shift-1]) + (price[shift]     - price[shift-1])))/_point;                      bears[shift] = MathMax(0,0.5*(MathAbs(loprice[shift-1] - loprice[shift]) + (loprice[shift-1] - loprice[shift])))/_point;                             if (bulls[shift]  gt  bears[shift]) bears[shift] = 0;                      else                       if (bulls[shift]  lt  bears[shift]) bulls[shift] = 0;                      else                      if (bulls[shift] == bears[shift]) {bulls[shift] = 0; bears[shift] = 0;}                      break;          }                           if(MathMode == 1) len = 1; else len = Length;               if(shift  lt  len) continue;              lbulls[shift] = mAverage(0,MA_Mode,bulls,len,Time[shift],shift);        lbears[shift] = mAverage(1,MA_Mode,bears,len,Time[shift],shift);                     if(shift  lt  len + Smooth) continue;              Bulls[shift] = mAverage(2,MA_Mode,lbulls,Smooth,Time[shift],shift);        Bears[shift] = mAverage(3,MA_Mode,lbears,Smooth,Time[shift],shift);               if(shift  lt  len + Smooth + Signal) continue;                     if(Signal  gt  1)          {             signalBulls[shift] = mAverage(4,MA_Mode,Bulls,Signal,Time[shift],shift);           signalBears[shift] = mAverage(5,MA_Mode,Bears,Signal,Time[shift],shift);            }                 if(LevelsMode == 0)          {          if(StrengthLevel  gt  0) strength[shift] = StrengthLevel/100*(Bulls[shift] + Bears[shift]);          if(WeaknessLevel  gt  0) weakness[shift] = WeaknessLevel/100*(Bulls[shift] + Bears[shift]);          }          else          if(LevelsMode == 1 && shift  gt  len + Smooth + LookBackPeriod)          {             for(int j = 0; j  lt  LookBackPeriod; j++)             {              HiArray[j] = MathMax(Bulls[shift-j],Bears[shift-j]);               LoArray[j] = MathMin(Bulls[shift-j],Bears[shift-j]);              }                          if(UpperMultiplier  gt  0) strength[shift] = SMA(HiArray,LookBackPeriod,LookBackPeriod-1) + UpperMultiplier*stdDev(HiArray,LookBackPeriod);           if(LowerMultiplier  gt  0) weakness[shift] = SMA(LoArray,LookBackPeriod,LookBackPeriod-1) - LowerMultiplier*stdDev(LoArray,LookBackPeriod);          }          else          if(LevelsMode == 2 && shift  gt  len + Smooth + LookBackPeriod)          {             for(int j = 0; j  lt  LookBackPeriod; j++)             {              HiArray[j] = MathMax(Bulls[shift-j],Bears[shift-j]);               LoArray[j] = MathMin(Bulls[shift-j],Bears[shift-j]);              }                                upPivot = getPivots(0,HiArray,LookBackPeriod);          dnPivot = getPivots(1,LoArray,LookBackPeriod);                  strength[shift] = upPivot - (upPivot - dnPivot)*(1 - StrengthLevel/100);          weakness[shift] = dnPivot + (upPivot - dnPivot)*WeaknessLevel/100;          }       }       }          //--- done    return(rates_total); } //+------------------------------------------------------------------+  double mAverage(int index,int mode,double& array[],int length,datetime time,int bar) {    double ma = 0;        switch(mode)    {    case 1:  ma = EMA (index,array[bar],length    ,time,bar); break;    case 2:  ma = EMA (index,array[bar],2*length-1,time,bar); break;    case 3:  ma = LWMA(array,length,bar); break;       case 0:  ma = SMA (array,length,bar); break;       }        return(ma); }   // SMA - Simple Moving Average double SMA(double& array[],int length,int bar) {    int i;    double sum = 0;    for(i = 0;i  lt  length;i++) sum += array[bar-i];        return(sum/length); }  // EMA - Exponential Moving Average double EMA(int index,double _price,int length,datetime time,int bar) {    if(ptime[index]  lt  time) {ema[index][1] = ema[index][0]; ptime[index] = time;}         if(ftime[index]) {ema[index][0] = _price; ftime[index] = false;}    else     ema[index][0] = ema[index][1] + 2.0/(1+length)*(_price - ema[index][1]);         return(ema[index][0]); }  // LWMA - Linear Weighted Moving Average  double LWMA(double& array[],int length,int bar) {    double lwma, sum = 0, weight = 0;           for(int i = 0;i  lt  length;i++)       {        weight+= (length - i);       sum += array[bar-i]*(length - i);       }        if(weight  gt  0) lwma = sum/weight; else lwma = 0;         return(lwma); }  // stdDev - Standard Deviation  double stdDev(double& array[],int length) {    int i;    double avg = 0;    for (i=0;i lt length;i++) avg += array[i]/length;             double sum = 0;    for (i=0;i lt length;i++) sum += MathPow(array[i] - avg,2);    return(MathSqrt(sum/length)); }         double getPivots(int type,double& array[],int len) {    int i;    double max = 0, min = 100000000;            for(i=0;i lt len;i++)    {        if(type == 0 && array[i]  gt  max && array[i]  lt  1000000) max = array[i];         if(type == 1 && array[i]  lt  min ) min = array[i];       }      if(type == 0) return(max);     if(type == 1) return(min);            return(0);   }            string priceToString(ENUM_APPLIED_PRICE app_price) {    switch(app_price)    {    case PRICE_CLOSE   :    return("Close");    case PRICE_HIGH    :    return("High");    case PRICE_LOW     :    return("Low");    case PRICE_MEDIAN  :    return("Median");    case PRICE_OPEN    :    return("Open");    case PRICE_TYPICAL :    return("Typical");    case PRICE_WEIGHTED:    return("Weighted");    default            :    return("");    } }  datetime iTime(string symbol,ENUM_TIMEFRAMES TF,int index) {    if(index  lt  0) return(-1);    static datetime timearray[];    if(CopyTime(symbol,TF,index,1,timearray)  gt  0) return(timearray[0]); else return(-1); }    

 

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