MicroTrendCheckerMT4

MicroTrendChecker signal indicator tracks symbol price movements on the terminal chart. While there is no trend, it returns Ask levels by points value up and Bid levels by points value down.

Input Parameters

• MaxSpread – maximum spread (it is recommended to set the parameter above the average symbol spread). The parameter is necessary for filtering spread widening during news releases.
• *wits – first indicator parameter (positive integer value of 2 or higher);
• *body – second indicator parameter (positive integer value of 2 or higher). In most cases, it exceeds size0;
• *sense – third indicator parameter (positive integer value of 2 or higher);
• *points – indent from the current price in points (Ask/Bid);
• *delta – trend/flat evaluation value (fractional value exceeding 0);
• tracker – price tracking mode switcher (true/false). If true, the indicator buffers never have empty values (EMPTY_VALUE). If false, empty values usually appear in the indicator buffers during a trend, while new indicator labels on the chart are not displayed when a bar is forming.

Example of using the indicator in an Expert Advisor code

input int     _MaxSpread=15;
input int     _size0=2;//*wits
input int     _size1=21;//*body
input int     _size2=2;//*sense
input int     _point=10;//*points
input double  _dlt=1;//*delta
input bool    _tracker=true;
//+------------------------------------------------------------------+
//| Expert initialization function                                   |
//+------------------------------------------------------------------+
int OnInit()
  {
//---

//---
   return(INIT_SUCCEEDED);
  }
//+------------------------------------------------------------------+
//| Expert deinitialization function                                 |
//+------------------------------------------------------------------+
void OnDeinit(const int reason)
  {
//---

  }
//+------------------------------------------------------------------+
//| Expert tick function                                             |
//+------------------------------------------------------------------+
void OnTick()
  {
   double _buyStopValue=iCustom(Symbol(),0,"microTrendChecker",_MaxSpread,_size0,_size1,_size2,_point,_dlt,_tracker,0,0);
   double _sellStopValue=iCustom(Symbol(),0,"microTrendChecker",_MaxSpread,_size0,_size1,_size2,_point,_dlt,_tracker,1,0);

   if(ExistPositions()>0)TreilingPositions();

   if(OrdersTotal()<1)
     {
      YourTradeFunc(_buyStopValue);
      YourTradeFunc(_sellStopValue);
     }

   if(ExistPositions()<1 && ExistStopOrders()>0)
     {
      ModifyStopOrder(_sellStopValue);
      ModifyStopOrder(_buyStopValue);
     }

   if(ExistPositions()>0 && ExistStopOrders()>0)
     {
      DeleteStopOrders();
     }

  }

Additionally

The indicator is used in USDCatch Expert Advisor.