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TrendMagic new version
Source: https://fxcodebase.com/code/viewtopic.php?f=17&t=2374
Forum: 17 · Topic 2374 · 4 post(s)
TrendMagic new version
Nikolay.Gekht · Mon Oct 11, 2010 9:51 pm
This is new version of the TrendMagic indicator (see viewtopic.php?f=17&t=563 for the original version)
Brief description:
The indicator was originally developed for MT4 by TudorGirl ([email protected]).
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)
end
Preview 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:
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:
-- original MT4 implementation (c) TudorGirl ([[email protected]](https://fxcodebase.com/cdn-cgi/l/email-protection)).
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
Re: TrendMagic new version
tmdabc · Fri Oct 23, 2015 2:00 pm
looks good，thanks
Re: TrendMagic new version
Apprentice · Tue Oct 23, 2018 6:38 am
The indicator was revised and updated.
Re: TrendMagic new version
woroyet570 · Wed Jul 24, 2024 1:57 am
Thanks