ColorWave Multi MA

ColorWave Multi MA

The ColorWave Multi MA is a highly configurable Moving Average (MA) indicator, with some advanced features:

1. Purpose of the indicator

• It draws a moving average line on the chart.
  
  

• Instead of a single color, it splits the MA into three line segments:
  
  

• Up (green) when the MA is rising,
  
  

• Down (red) when the MA is falling,
  
  

• Flat (gray, dotted) when the MA is flat within a threshold.
  
  

• It supports many MA types, not just the standard SMA/EMA.
  
  

This is useful for traders because it visually shows trend direction and flat (sideways) markets more clearly than a normal MA.

2. User Inputs

You have a lot of customization:

• Period (InpPeriod) → How many bars to use in calculation.
  
  

• Shift (InpShift) → Moves the MA left/right on the chart.
  
  

• Applied price (InpAppliedPrice) → Choose Close, Open, High, Low, Median, Typical, Weighted.
  
  

• MA type (InpMAType) → One of 8 types:
  
  

• SMA, EMA, SMMA, LWMA, DEMA, TEMA, HMA, T3.
  
  

• Flat threshold (InpFlatPoints) → Defines what “flat” means. Example: 0.5 points means if slope is smaller than 0.5 pipette, it’s flat.
  
  

• Colors (InpColorUp, InpColorDown, InpColorFlat) → Different for up, down, flat.
  
  

• Line width (InpLineWidth) and styles (InpLineStyle, InpFlatStyle).
  
  

• T3 hot factor (InpT3Hot) → Parameter for the special T3 moving average.
  
  

3. How it calculates

The code does 3 main things inside OnCalculate():

1. Prepares price array
   
   

• Gets the price (close/open/etc.) for each bar and stores in PriceArr.
  
  

2. Computes the moving average
   
   

• Depending on InpMAType, it calls the right function:
  
  

• ComputeSMA() = simple average.
  
  

• ComputeEMA() = exponential.
  
  

• ComputeSMMA() = smoothed.
  
  

• ComputeLWMA() = weighted.
  
  

• ComputeDEMA() = double EMA = 2×EMA1 – EMA2.
  
  

• ComputeTEMA() = triple EMA = 3×EMA1 – 3×EMA2 + EMA3.
  
  

• ComputeHMA() = Hull MA (fast-reacting, smooth).
  
  

• ComputeT3() = Tim Tillson’s T3, very smooth.
  
  

3. Classifies slope (Up, Down, Flat)
   
   

• It looks at current MA value (current_ma) and previous MA value (prev_ma).
  
  

• Slope = current_ma - prev_ma.
  
  

• If slope > threshold → UpBuffer gets the MA value.
  
  

• If slope < -threshold → DownBuffer gets the MA value.
  
  

• If |slope| ≤ threshold → FlatBuffer gets the MA value.
  
  

Since each buffer is drawn with different style/color, the line is automatically segmented.

4. Buffers and drawing

• MT4 indicators use buffers to store values for drawing.
  
  

• You have 3 buffers:
  
  

• UpBuffer[] (green solid)
  
  

• DnBuffer[] (red solid)
  
  

• FlBuffer[] (gray dotted)
  
  

At each bar, only one buffer gets a value (others get EMPTY_VALUE).
This makes the line appear in 3 colors depending on slope.

5. Special details

• No repainting:
  
  

• It doesn’t recalc historical values incorrectly.
  
  

• The only value that can change is the last bar, same as a normal MA.
  
  

• Flat detection:
  
  

• Controlled by InpFlatPoints.
  
  

• On a 5-digit broker, 10 points = 1 pip.
  
  

• If you set 0.5, it means half a pipette sensitivity → very sensitive flat detection.
  
  

• Performance:
  
  

• It optimizes recalculation: only recalculates the newest bars, not everything every tick.
  
  

• Advanced MA formulas:
  
  

• Includes non-standard averages (Hull, DEMA, TEMA, T3).
  
  

• Makes it more powerful than built-in MT4 MAs.
  
  

6. What you will see on chart

• A moving average line that changes color and style:
  
  

• Green solid → trend up,
  
  

• Red solid → trend down,
  
  

• Gray dotted → flat sideways.
  
  

• The transitions between colors show where slope changes.
  
  

✅ In short:
This is a multi-type adaptive moving average that visually marks trend direction and flat conditions with color-coded segments. It’s much clearer than a regular MA because it tells you not only where the average is but also whether the market is trending or ranging.