A! PumpDump_Strength_Meter
High-Level Summary
This is a complex, multi-timeframe, multi-indicator "dashboard" or "strength meter". Its primary goal is to analyze market sentiment across up to seven different timeframes (M1, M5, M15, M30, H1, H4, D1) using up to fourteen different technical indicators.
It then aggregates all this information, applies user-defined weights for each timeframe, and calculates a final "PUMP %" (Buy Strength) and "DUMP %" (Sell Strength). This result is displayed directly on the chart, and it can trigger alerts when these percentages cross user-defined thresholds.
Detailed Breakdown of Functionality
1. Core Concept: Aggregating Indicator Signals
The indicator's entire logic is based on a scoring system. For every technical indicator and every timeframe that the user enables in the settings:
It calculates the indicator's value.
It checks for a bullish or bearish condition (e.g., Is the Moving Average rising? Is the MACD line above the signal line? Is the RSI above 50?).
If the condition is bullish, a "buy" variable for that specific check gets a score of 1.
If the condition is bearish, a "sell" variable for that specific check gets a score of 1.
2. Technical Indicators Used
The indicator combines signals from a wide array of standard and custom indicators. The user can turn each of these on or off.
Moving Average (MA): Checks the slope of 3 different MAs (periods 5, 26, 52 by default).
Commodity Channel Index (CCI): Checks if the CCI value is positive (bullish) or negative (bearish).
Moving Average Convergence Divergence (MACD): Checks if the MACD main line is above or below its signal line.
Average Directional Index (ADX): Checks if the +DI line is above or below the -DI line.
Bulls Power: Checks if the value is positive (bullish) or negative.
Bears Power: Checks if the value is positive (bullish) or negative.
Stochastic Oscillator: Checks if the main line is above or below the signal line.
Relative Strength Index (RSI): Checks if the RSI is above or below 50.
Force Index (FORCE): Checks if the value is positive (bullish) or negative.
Momentum: Checks if the value is above or below 100.
DeMarker: Checks if the current value is higher or lower than the previous value (i.e., is it rising or falling).
Waddah Attar Explosion (Custom Indicator): This is a critical dependency. The indicator calls a separate custom indicator named Waddah_Attar_Explosion. This code will not work correctly unless the Waddah_Attar_Explosion.ex4 file is present in the MQL4/Indicators folder. It checks the direction of this custom indicator's lines.
3. Multi-Timeframe (MTF) Analysis & Weighting
The indicator performs all the above checks on up to 7 timeframes (M1, M5, M15, M30, H1, H4, D1).
The user can enable/disable each timeframe and, more importantly, assign a coefficient (weight) to each one.
For example, a user could give the H4 and D1 timeframes a higher weight than the M1 and M5 timeframes, making the final result more influenced by the longer-term trend.
4. Final Percentage Calculation
After collecting all the 1s and 0s for buy/sell signals:
It calculates a total weighted "buy" score by summing up all the "buy" signals, with each timeframe's contribution multiplied by its user-defined coefficient.
It calculates a total weighted "sell" score similarly.
It determines the maximum possible score (the total number of checks performed across all enabled indicators and timeframes).
The final "PUMP %" is (Total Weighted Buy Score / Maximum Possible Score) * 100.
The final "DUMP %" is simply 100 - PUMP %.
5. Alert System
The Alerts = true input enables pop-up alerts.
It checks two conditions on every new bar:
If PUMP % > Buy (where Buy is a user-defined threshold, default 100), it alerts "SELL!!!".
If DUMP % > Sell (where Sell is a user-defined threshold, default 100), it alerts "BUY!!!".
Important Note on Alert Logic: The logic is contrarian. A very high "PUMP" (buy) strength triggers a sell alert, suggesting the market is overbought. A very high "DUMP" (sell) strength triggers a buy alert, suggesting the market is oversold. This is a common reversal strategy.
Key extern (User) Inputs Explained
Window: Which window to draw on (0 is the main chart).
X_trend, Y_trend: X/Y position of the PUMP/DUMP display.
Alerts: Turn alerts on or off.
Conclusion
This is a powerful but complex "all-in-one" sentiment indicator. It attempts to provide a definitive buy/sell strength meter by consolidating a massive amount of technical data.
To use it, a trader must:
Have the Waddah_Attar_Explosion.ex4 indicator file.
Understand that the variable names are meaningless due to decompilation.
Carefully configure which indicators and timeframes they want to use and how much weight to give each timeframe.
Be aware that the alert system is designed for a contrarian/reversal trading style.
