Adaptive Trend & Fib Levels Indicator, Forex indicators

This MQL4 custom indicator is designed to calculate and display adaptive trends and Fibonacci levels on a trading chart. Below are the detailed functionalities and structure of the indicator.

1. Properties and Buffers

Indicator Properties:

• #property indicator_chart_window: The indicator operates in the main chart window.
• Four color-coded buffers are defined for drawing lines on the chart:
• Buffer 1: Silver (Fibonacci Level)
• Buffer 2: Yellow (100% Level)
• Buffer 3: Red (First EMA)
• Buffer 4: Blue (Second EMA)

Indicator Buffers:

• Fib1Buffer: Stores the Fibonacci level values.
• L100Buffer: Stores the 100% level (trailing value).
• Ema6Buffer and Ema18Buffer: Intended for EMA calculations (currently commented out).

2. Inputs and Parameters

Inputs:

• ATRFactor: Multiplier for ATR-based trailing stop calculations.
• ATRPeriod: Period for ATR calculations.
• trailtype: Determines the trailing type (Modified or Unmodified).
• EmaPriod1 and EmaPriod2: Periods for EMA calculations (currently unused).

3. Initialization Function (OnInit())

The OnInit() function maps the indicator buffers to their respective styles and labels:

• Buffer 1: Fibo (Silver line).
• Buffer 2: L100 (Yellow line).
• Buffer 3: First EMA (Red line).
• Buffer 4: Second EMA (Blue line).

4. Main Calculation Function (OnCalculate())

This function computes the trend, Fibonacci levels, and ATR-based trailing stops:

• Calculates ATR using a modified or unmodified method based on the trailtype input.
• Computes the Fibonacci level (Fib1Buffer) and trailing stop level (L100Buffer).
• Updates trend direction based on the trailing stop values:
• If the price is above the trailing stop, the trend is upward.
• If the price is below the trailing stop, the trend is downward.

5. Helper Functions

• max2(v1, v2): Returns the maximum of two values.
• max3(v1, v2, v3): Returns the maximum of three values.
• Wild_ma(index, length): Computes a Wilder's Moving Average for the given index and length.

6. Outputs

The indicator displays the following on the chart:

• A Fibonacci level line (Fib1Buffer).
• A 100% trailing stop line (L100Buffer).
• Placeholder for EMA lines (Ema6Buffer and Ema18Buffer).