AutoPivotIndicator_v1

This script is designed to automatically plot key price levels ? known as Pivot Points, Support, and Resistance levels ? on a price chart within the MetaTrader platform. These levels are often used by traders to identify potential areas where the price might change direction.

Here's how it works:

Data Input: The script gathers historical price data (High, Low, and Close) for the previous day, week, and month.
Pivot Point Calculation: Using these historical prices, the script calculates a "Pivot Point" for each of these periods (daily, weekly, and monthly). The Pivot Point is essentially the average of the High, Low, and Close prices for the previous period.
Support and Resistance Calculation: From the Pivot Point, the script then calculates Support and Resistance levels. Support levels are price levels where the price is likely to "bounce" upwards, while Resistance levels are where the price is likely to "bounce" downwards. The script calculates three Support levels (S1, S2, S3) and three Resistance levels (R1, R2, R3) for each of the daily, weekly and monthly pivots. These levels are derived using a mathematical formula based on the previous period's High, Low, and Close prices, as well as the calculated Pivot Point.
Visual Display: Finally, the script plots these calculated Pivot Points, Support levels, and Resistance levels as horizontal lines directly onto the price chart. It also adds text labels next to the lines to clearly identify what each line represents (e.g., "Daily Pivot," "Weekly R1"). These lines act as visual aids, helping traders quickly see potential areas of interest on the chart.
Customization: The user can choose to display daily, weekly, and monthly pivot points and support/resistance levels or not, as well as whether to include Sunday's price data in the calculation of the daily pivot points.

Price Data Components

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AutoPivotIndicator_v1

//+------------------------------------------------------------------+
//|   AutoPivotIndicator.mq4          ver 4.02           by Habeeb   |
//|                                                                  |
//|          This version solves the Sunday Bar problem.             |
//| Ver4 calculated daily pivots incorrectly when Use_Sunday_Data    |
//|        was set to "False".  Fixed in this version.               |
//+------------------------------------------------------------------+

#property indicator_chart_window

   extern bool Use_Sunday_Data   = False;
   extern bool Daily             = True;
   extern bool Daily_SR_Levels   = True;
   extern bool Weekly            = True;
   extern bool Weekly_SR_Levels  = True;
   extern bool Monthly           = True;
   extern bool Monthly_SR_Levels = False;

   double YesterdayHigh;
   double YesterdayLow;
   double YesterdayClose;
   double Day_Price[][6];
   double Pivot,S1,S2,S3,R1,R2,R3;
      
   double WeekHigh;
   double WeekLow;
   double WeekClose;
   double Weekly_Price[][6];
   double WeekPivot,WS1,WS2,WS3,WR1,WR2,WR3;
   
   double MonthHigh;
   double MonthLow;
   double MonthClose;
   double Month_Price[][6];
   double MonthPivot,MS1,MS2,MS3,MR1,MR2,MR3;
   
int init()
  {
   return(0);
  }
  
//-------------------------------------------------------- 
  
int deinit()
  {
ObjectDelete("PivotLine");

ObjectDelete("R1_Line");
ObjectDelete("R2_Line");
ObjectDelete("R3_Line");

ObjectDelete("S1_Line");
ObjectDelete("S2_Line");
ObjectDelete("S3_Line");  

//--------------------------------

ObjectDelete("PivotLabel");

ObjectDelete("R1_Label");
ObjectDelete("R2_Label");
ObjectDelete("R3_Label");

ObjectDelete("S1_Label");
ObjectDelete("S2_Label");
ObjectDelete("S3_Label"); 

//--------------------------------------------------------

ObjectDelete("WeekPivotLine");

ObjectDelete("WR1_Line");
ObjectDelete("WR2_Line");
ObjectDelete("WR3_Line");

ObjectDelete("WS1_Line");
ObjectDelete("WS2_Line");
ObjectDelete("WS3_Line");  

//--------------------------------

ObjectDelete("WeekPivotLabel");

ObjectDelete("WR1_Label");
ObjectDelete("WR2_Label");
ObjectDelete("WR3_Label");

ObjectDelete("WS1_Label");
ObjectDelete("WS2_Label");
ObjectDelete("WS3_Label");  

//--------------------------------------------------------

ObjectDelete("MonthPivotLine");

ObjectDelete("MR1_Line");
ObjectDelete("MR2_Line");
ObjectDelete("MR3_Line");

ObjectDelete("MS1_Line");
ObjectDelete("MS2_Line");
ObjectDelete("MS3_Line");  

//--------------------------------

ObjectDelete("MonthPivotLabel");

ObjectDelete("MR1_Label");
ObjectDelete("MR2_Label");
ObjectDelete("MR3_Label");

ObjectDelete("MS1_Label");
ObjectDelete("MS2_Label");
ObjectDelete("MS3_Label");

return(0);
}
//--------------------------------------------------------- 

int start()
{
ArrayInitialize(Day_Price,0);
ArrayCopyRates(Day_Price,(Symbol()), 1440);

   Comment("Hello Sailor");
  
   YesterdayHigh  = Day_Price[1][3];
   YesterdayLow   = Day_Price[1][2];
   YesterdayClose = Day_Price[1][4];
   
   Pivot = ((YesterdayHigh + YesterdayLow + YesterdayClose)/3);

   R1 = (2*Pivot)-YesterdayLow;
   S1 = (2*Pivot)-YesterdayHigh;

   R2 = Pivot+(R1-S1);
   S2 = Pivot-(R1-S1);
   
   R3 = (YesterdayHigh + (2*(Pivot-YesterdayLow)));
   S3 = (YesterdayLow - (2*(YesterdayHigh-Pivot)));  
  
  
if (Use_Sunday_Data == false)
 {   
  Comment("Sunday Bar ignored","");
    while (DayOfWeek() == 1)
      {
       Comment("Not using Sunday Data for Daily Pivots. ",
       " Today is Monday");
              
       YesterdayHigh  = Day_Price[2][3];
       YesterdayLow   = Day_Price[2][2];
       YesterdayClose = Day_Price[2][4];
   
       Pivot = ((YesterdayHigh + YesterdayLow + YesterdayClose)/3);

       R1 = (2*Pivot)-YesterdayLow;
       S1 = (2*Pivot)-YesterdayHigh;

       R2 = Pivot+(R1-S1);
       S2 = Pivot-(R1-S1);
   
       R3 = (YesterdayHigh + (2*(Pivot-YesterdayLow)));
       S3 = (YesterdayLow - (2*(YesterdayHigh-Pivot)));
       break;
      }
 }
  
//--------------------------------------------------------
//--------------------------------------------------------

ArrayInitialize(Weekly_Price, 0);
ArrayCopyRates(Weekly_Price, Symbol(), 10080);

WeekHigh  = Weekly_Price[1][3];
WeekLow   = Weekly_Price[1][2];
WeekClose = Weekly_Price[1][4];

WeekPivot = ((WeekHigh + WeekLow + WeekClose)/3);

      WR1 = (2*WeekPivot)-WeekLow;
      WS1 = (2*WeekPivot)-WeekHigh;

      WR2 = WeekPivot+(WR1-WS1);
      WS2 = WeekPivot-(WR1-WS1);

      WS3 = (WeekLow - (2*(WeekHigh-WeekPivot)));
      WR3 = (WeekHigh + (2*(WeekPivot-WeekLow)));

//--------------------------------------------------------
//--------------------------------------------------------

ArrayInitialize(Month_Price, 0);
ArrayCopyRates(Month_Price, Symbol(), 43200);

MonthHigh  = Month_Price[1][3];
MonthLow   = Month_Price[1][2];
MonthClose = Month_Price[1][4];

MonthPivot = ((MonthHigh + MonthLow + MonthClose)/3);

      MR1 = (2*MonthPivot)-MonthLow;
      MS1 = (2*MonthPivot)-MonthHigh;

      MR2 = MonthPivot+(MR1-MS1);
      MS2 = MonthPivot-(MR1-MS1);

      MS3 = (MonthLow - (2*(MonthHigh-MonthPivot)));
      MR3 = (MonthHigh + (2*(MonthPivot-MonthLow)));

//--------------------------------------------------------

if (Daily==true)
 {
  TimeToStr(CurTime());
  ObjectCreate("PivotLine", OBJ_HLINE,0, CurTime(),Pivot);
  ObjectSet("PivotLine", OBJPROP_COLOR, Magenta);
  ObjectSet("PivotLine", OBJPROP_STYLE, STYLE_DASH);

 if(ObjectFind("PivotLabel") != 0)
  {
   ObjectCreate("PivotLabel", OBJ_TEXT, 0, Time[20], Pivot);
   ObjectSetText("PivotLabel", ("Daily Pivot"), 8, "Arial", Magenta);
  }
 else
  {
   ObjectMove("PivotLabel", 0, Time[20], Pivot);
  }
ObjectsRedraw();

//--------------------------------------------------------

if (Daily_SR_Levels==true)
 {
  ObjectCreate("R1_Line", OBJ_HLINE,0, CurTime(),R1);
  ObjectSet("R1_Line", OBJPROP_COLOR, Red);
  ObjectSet("R1_Line", OBJPROP_STYLE, STYLE_DASHDOTDOT);

 if(ObjectFind("R1_Label") != 0)
  {
   ObjectCreate("R1_Label", OBJ_TEXT, 0, Time[20], R1);
   ObjectSetText("R1_Label", "Daily R1", 8, "Arial", Red);
  }
 else
  {
   ObjectMove("R1_Label", 0, Time[20], R1);
  }

//--------------------------------------------------------

   ObjectCreate("R2_Line", OBJ_HLINE,0, CurTime(),R2);
   ObjectSet("R2_Line", OBJPROP_COLOR, Red);
   ObjectSet("R2_Line", OBJPROP_STYLE, STYLE_DASHDOTDOT);
 if(ObjectFind("R2_Label") != 0)
  {
   ObjectCreate("R2_Label", OBJ_TEXT, 0, Time[20], R2);
   ObjectSetText("R2_Label", "Daily R2", 8, "Arial", Red);
  }
 else
  {
   ObjectMove("R2_Label", 0, Time[20], R2);
  }

//---------------------------------------------------------

   ObjectCreate("R3_Line", OBJ_HLINE,0, CurTime(),R3);
   ObjectSet("R3_Line", OBJPROP_COLOR, Red);
   ObjectSet("R3_Line", OBJPROP_STYLE, STYLE_DASHDOTDOT);
 if(ObjectFind("R3_Label") != 0)
  {
   ObjectCreate("R3_Label", OBJ_TEXT, 0, Time[20], R3);
   ObjectSetText("R3_Label", "Daily R3", 8, "Arial", Red);
  }
 else
  {
   ObjectMove("R3_Label", 0, Time[20], R3);
  }

//---------------------------------------------------------

   ObjectCreate("S1_Line", OBJ_HLINE,0, CurTime(),S1);
   ObjectSet("S1_Line", OBJPROP_COLOR, LimeGreen);
   ObjectSet("S1_Line", OBJPROP_STYLE, STYLE_DASHDOTDOT);
 if(ObjectFind("S1_Label") != 0)
  {
   ObjectCreate("S1_Label", OBJ_TEXT, 0, Time[20], S1);
   ObjectSetText("S1_Label", "Daily S1", 8, "Arial", LimeGreen);
  }
 else
  {
   ObjectMove("S1_Label", 0, Time[20], S1);
  }

//---------------------------------------------------------

   ObjectCreate("S2_Line", OBJ_HLINE,0, CurTime(),S2);
   ObjectSet("S2_Line", OBJPROP_COLOR, LimeGreen);
   ObjectSet("S2_Line", OBJPROP_STYLE, STYLE_DASHDOTDOT);
 if(ObjectFind("S2_Label") != 0)
  {
   ObjectCreate("S2_Label", OBJ_TEXT, 0, Time[20], S2);
   ObjectSetText("S2_Label", "Daily S2", 8, "Arial", LimeGreen);
  }
 else
  {
   ObjectMove("S2_Label", 0, Time[20], S2);
  }

//---------------------------------------------------------

   ObjectCreate("S3_Line", OBJ_HLINE,0, CurTime(),S3);
   ObjectSet("S3_Line", OBJPROP_COLOR, LimeGreen);
   ObjectSet("S3_Line", OBJPROP_STYLE, STYLE_DASHDOTDOT);
 if(ObjectFind("S3_Label") != 0)
  {
   ObjectCreate("S3_Label", OBJ_TEXT, 0, Time[20], S3);
   ObjectSetText("S3_Label", "Daily S3", 8, "Arial", LimeGreen);
  }
 else
  {
   ObjectMove("S3_Label", 0, Time[20], S3);
  }
 }
ObjectsRedraw();
}

//---------------------------------------------------------
//---------------------------------------------------------
//---------------------------------------------------------

if (Weekly==true)
 {
  ObjectCreate("WeekPivotLine", OBJ_HLINE,0, CurTime(),WeekPivot);
  ObjectSet("WeekPivotLine", OBJPROP_COLOR, Aqua);
  ObjectSet("WeekPivotLine", OBJPROP_STYLE, STYLE_DASH);
 if(ObjectFind("WeekPivotLabel") != 0)
  {
   ObjectCreate("WeekPivotLabel", OBJ_TEXT, 0, Time[30], WeekPivot);
   ObjectSetText("WeekPivotLabel", "WeeklyPivot", 8, "Arial", Aqua);
  }
 else
  {
   ObjectMove("WeekPivotLabel", 0, Time[30], WeekPivot);
  }

//--------------------------------------------------------

if (Weekly_SR_Levels==true)
 {
  ObjectCreate("WR1_Line", OBJ_HLINE,0, CurTime(),WR1);
  ObjectSet("WR1_Line", OBJPROP_COLOR, Yellow);
  ObjectSet("WR1_Line", OBJPROP_STYLE, STYLE_DASHDOTDOT);
 if(ObjectFind("WR1_Label") != 0)
  {
   ObjectCreate("WR1_Label", OBJ_TEXT, 0, Time[30], WR1);
   ObjectSetText("WR1_Label", " Weekly R1", 8, "Arial", Yellow);
  }
 else
  {
   ObjectMove("WR1_Label", 0, Time[30], WR1);
  }

//--------------------------------------------------------

   ObjectCreate("WR2_Line", OBJ_HLINE,0, CurTime(),WR2);
   ObjectSet("WR2_Line", OBJPROP_COLOR, Yellow);
   ObjectSet("WR2_Line", OBJPROP_STYLE, STYLE_DASHDOTDOT);
 if(ObjectFind("WR2_Label") != 0)
  {
   ObjectCreate("WR2_Label", OBJ_TEXT, 0, Time[30], WR2);
   ObjectSetText("WR2_Label", " Weekly R2", 8, "Arial", Yellow);
  }
 else
  {
   ObjectMove("WR2_Label", 0, Time[30], WR2);
  }

//---------------------------------------------------------

   ObjectCreate("WR3_Line", OBJ_HLINE,0, CurTime(),WR3);
   ObjectSet("WR3_Line", OBJPROP_COLOR, Yellow);
   ObjectSet("WR3_Line", OBJPROP_STYLE, STYLE_DASHDOTDOT);
 if(ObjectFind("WR3_Label") != 0)
  {
   ObjectCreate("WR3_Label", OBJ_TEXT, 0, Time[30], WR3);
   ObjectSetText("WR3_Label", " Weekly R3", 8, "Arial", Yellow);
  }
 else
  {
   ObjectMove("WR3_Label", 0, Time[30], WR3);
  }

//---------------------------------------------------------

   ObjectCreate("WS1_Line", OBJ_HLINE,0, CurTime(),WS1);
   ObjectSet("WS1_Line", OBJPROP_COLOR, SteelBlue);
   ObjectSet("WS1_Line", OBJPROP_STYLE, STYLE_DASHDOTDOT);
 if(ObjectFind("WS1_Label") != 0)
  {
   ObjectCreate("WS1_Label", OBJ_TEXT, 0, Time[30], WS1);
   ObjectSetText("WS1_Label", "Weekly S1", 8, "Arial", SteelBlue);
  }
 else
  {
   ObjectMove("WS1_Label", 0, Time[30], WS1);
  }

//---------------------------------------------------------

   ObjectCreate("WS2_Line", OBJ_HLINE,0, CurTime(),WS2);
   ObjectSet("WS2_Line", OBJPROP_COLOR, SteelBlue);
   ObjectSet("WS2_Line", OBJPROP_STYLE, STYLE_DASHDOTDOT);
 if(ObjectFind("WS2_Label") != 0)
  {
   ObjectCreate("WS2_Label", OBJ_TEXT, 0, Time[30], WS2);
   ObjectSetText("WS2_Label", "Weekly S2", 8, "Arial", SteelBlue);
  }
 else
  {
   ObjectMove("WS2_Label", 0, Time[30], WS2);
  }

//---------------------------------------------------------

   ObjectCreate("WS3_Line", OBJ_HLINE,0, CurTime(),WS3);
   ObjectSet("WS3_Line", OBJPROP_COLOR, SteelBlue);
   ObjectSet("WS3_Line", OBJPROP_STYLE, STYLE_DASHDOTDOT);
 if(ObjectFind("WS3_Label") != 0)
  {
   ObjectCreate("WS3_Label", OBJ_TEXT, 0, Time[30], WS3);
   ObjectSetText("WS3_Label", "Weekly S3", 8, "Arial", SteelBlue);
  }
 else
  {
   ObjectMove("WS3_Label", 0, Time[30], WS3);
  }
 }
}

//---------------------------------------------------------
//---------------------------------------------------------
//---------------------------------------------------------

if (Monthly==true)
 {
  ObjectCreate("MonthPivotLine", OBJ_HLINE,0, CurTime(),MonthPivot);
  ObjectSet("MonthPivotLine", OBJPROP_COLOR, White);
  ObjectSet("MonthPivotLine", OBJPROP_STYLE, STYLE_DASH);
 if(ObjectFind("MonthPivotLabel") != 0)
  {
   ObjectCreate("MonthPivotLabel", OBJ_TEXT, 0, Time[40], MonthPivot);
   ObjectSetText("MonthPivotLabel", "MonthlyPivot", 8, "Arial", White);
  }
 else
  {
   ObjectMove("MonthPivotLabel", 0, Time[40], MonthPivot);
  }

//--------------------------------------------------------

if (Monthly_SR_Levels==true)
 {
  ObjectCreate("MR1_Line", OBJ_HLINE,0, CurTime(),MR1);
  ObjectSet("MR1_Line", OBJPROP_COLOR, Blue);
  ObjectSet("MR1_Line", OBJPROP_STYLE, STYLE_DASHDOTDOT);
 if(ObjectFind("MR1_Label") != 0)
  {
   ObjectCreate("MR1_Label", OBJ_TEXT, 0, Time[40], MR1);
   ObjectSetText("MR1_Label", " Monthly R1", 8, "Arial", Blue);
  }
 else
  {
   ObjectMove("MR1_Label", 0, Time[40], MR1);
  }

//--------------------------------------------------------

   ObjectCreate("MR2_Line", OBJ_HLINE,0, CurTime(),MR2);
   ObjectSet("MR2_Line", OBJPROP_COLOR, Blue);
   ObjectSet("MR2_Line", OBJPROP_STYLE, STYLE_DASHDOTDOT);
 if(ObjectFind("MR2_Label") != 0)
  {
   ObjectCreate("MR2_Label", OBJ_TEXT, 0, Time[40], MR2);
   ObjectSetText("MR2_Label", " Monthly R2", 8, "Arial", Blue);
  }
 else
  {
   ObjectMove("MR2_Label", 0, Time[40], MR2);
  }

//---------------------------------------------------------

   ObjectCreate("MR3_Line", OBJ_HLINE,0, CurTime(),MR3);
   ObjectSet("MR3_Line", OBJPROP_COLOR, Blue);
   ObjectSet("MR3_Line", OBJPROP_STYLE, STYLE_DASHDOTDOT);
 if(ObjectFind("MR3_Label") != 0)
  {
   ObjectCreate("MR3_Label", OBJ_TEXT, 0, Time[40], MR3);
   ObjectSetText("MR3_Label", " Monthly R3", 8, "Arial", Blue);
  }
 else
  {
   ObjectMove("MR3_Label", 0, Time[40], MR3);
  }

//---------------------------------------------------------

   ObjectCreate("MS1_Line", OBJ_HLINE,0, CurTime(),MS1);
   ObjectSet("MS1_Line", OBJPROP_COLOR, Silver);
   ObjectSet("MS1_Line", OBJPROP_STYLE, STYLE_DASHDOTDOT);
 if(ObjectFind("MS1_Label") != 0)
  {
   ObjectCreate("MS1_Label", OBJ_TEXT, 0, Time[40], MS1);
   ObjectSetText("MS1_Label", "Monthly S1", 8, "Arial", Silver);
  }
 else
  {
   ObjectMove("MS1_Label", 0, Time[40], MS1);
  }

//---------------------------------------------------------

   ObjectCreate("MS2_Line", OBJ_HLINE,0, CurTime(),MS2);
   ObjectSet("MS2_Line", OBJPROP_COLOR, Silver);
   ObjectSet("MS2_Line", OBJPROP_STYLE, STYLE_DASHDOTDOT);
 if(ObjectFind("MS2_Label") != 0)
  {
   ObjectCreate("MS2_Label", OBJ_TEXT, 0, Time[40], MS2);
   ObjectSetText("MS2_Label", "Monthly S2", 8, "Arial", Silver);
  }
 else
  {
   ObjectMove("MS2_Label", 0, Time[40], MS2);
  }

//---------------------------------------------------------

   ObjectCreate("MS3_Line", OBJ_HLINE,0, CurTime(),MS3);
   ObjectSet("MS3_Line", OBJPROP_COLOR, Silver);
   ObjectSet("MS3_Line", OBJPROP_STYLE, STYLE_DASHDOTDOT);
 if(ObjectFind("MS3_Label") != 0)
  {
   ObjectCreate("MS3_Label", OBJ_TEXT, 0, Time[40], MS3);
   ObjectSetText("MS3_Label", "Monthly S3", 8, "Arial", Silver);
  }
 else
  {
   ObjectMove("MS3_Label", 0, Time[40], MS3);
  }
 }
}
//---------------------------------------------------------

ObjectsRedraw();

   return(0);
}

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AutoPivotIndicator_v1

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