Batfink Signal (Target 1)

Download script
Batfink Signal (Target 1)

The Batfink Daily Range indicator is designed to identify specific price breakout levels based on time-segmented market activity. Instead of looking at the entire trading day as a single block, this script analyzes distinct time windows to establish "zones" and alert you when the price moves beyond them.

Core Logic and Functionality

Time Zone Synchronization The script is built to handle different global markets by allowing you to input your local time zone and the destination time zone. It calculates the offset between these two, ensuring that the time windows (like "morning" or "afternoon" sessions) are accurately mapped regardless of which country your broker is based in.

Dynamic Session Monitoring The logic segments each trading day into three specific chronological periods. The script monitors these periods to track high and low price points.

  • It identifies the price action during the initial time blocks.
  • Once a session is completed, it "carries forward" the data from that period to create a reference range for the rest of the day.

Zone Projection Based on the data gathered from the first completed session, the script calculates an upper and lower "Entry Zone."

  • The indicator projects these levels onto your chart as horizontal lines.
  • It applies a customizable "Pips For Entry" buffer to these levels. This means the boundary isn't just the raw price of the previous session; it is adjusted by a specific amount of pips to provide a bit of "breathing room" before a signal is confirmed.

Breakout Detection The script continuously watches the current market price against these projected upper and lower boundaries. It looks for specific "breakout" behaviors:

  • Buy Signals: Triggered when the price moves above the upper boundary. The logic checks if the candle's high exceeds the zone while the opening price remains below it, or if the previous candle closed below but the current one opened above.
  • Sell Signals: Triggered when the price drops below the lower boundary. It looks for a similar cross where the candle's low dips below the zone while the opening price remains above it.

Visual and Audible Alerts When these conditions are met, the script performs two actions:

  1. Visual Marking: It places an arrow on the chart at the exact point where the breakout occurred.
  2. Notifications: If enabled in the settings, it triggers a real-time "Zone Breakout" alert on your trading platform to notify you immediately of the price movement.

Summary for the User

Essentially, this tool automates the process of watching specific time windows to see how the market behaved early in the day. It then draws "lines in the sand" based on that behavior. When the market finally breaks through those lines later in the day, the script highlights it for you, helping you identify potential momentum shifts or trend continuations.

Miscellaneous
Implements a curve of type %1It issuies visual alerts to the screen
16 Views
0 Downloads
0 Favorites
Batfink Signal (Target 1) 

//+------------------------------------------------------------------+
//|  Batfink Daily Range.MT4                                         |
//|                                                                  |
//+------------------------------------------------------------------+


/* Introduction:

   Draw Line at 00:00GMT + and - 55

   TimeZONE Information - Indicator can be used for different Time Zones. 
                          For Batfink settings set to -5 for MetaQuotes demo Server
                          This will place home line at 00:00GMT Time

*/

#property indicator_chart_window
#property indicator_buffers 3
#property indicator_color1 Red
#property indicator_color2 Red
#property indicator_color3 Orange

extern bool DoEntryAlerts= false;
extern int LocalTimeZone= 2;
extern int DestTimeZone= 0;
extern int PipsForEntry= 55;

double Zone1Upper[];
double Zone1Lower[];
double EntrySignalsBuffer[];   

//+------------------------------------------------------------------+
//| Custom indicator initialization function                         |
//+------------------------------------------------------------------+
int init()
{
   SetIndexStyle(0,DRAW_LINE);
   SetIndexBuffer(0,Zone1Upper);
   SetIndexEmptyValue(0, 0.0);

   SetIndexStyle(1,DRAW_LINE);
   SetIndexBuffer(1,Zone1Lower);
   SetIndexEmptyValue(1, 0.0);
   
   SetIndexStyle(2,DRAW_ARROW);
   SetIndexArrow(2, 140);
   SetIndexBuffer(2, EntrySignalsBuffer);
   SetIndexEmptyValue(2, 0.0);
   SetIndexLabel(2, "Zone Breakout Signal");

   return(0);
}

int deinit()
{

   return(0);
}
  
//+------------------------------------------------------------------+
//| Custom indicator iteration function                              |
//+------------------------------------------------------------------+
int start()
{
   int counted_bars= IndicatorCounted(),
         lastbar, result;

   if (Bars<=100) 
      return(0);
      
   if (counted_bars>0)
      counted_bars--;
      
   lastbar= Bars - counted_bars;
   
   BreakoutRanges(0, lastbar, LocalTimeZone, DestTimeZone);
   
   //
   // check alerts   
   //
   
   static datetime lastalerttime;
   static double lastalertprice;

   if (DoEntryAlerts && lastalerttime!=Time[0] && EntrySignalsBuffer[0]!=0 && EntrySignalsBuffer[0]!=lastalertprice) {
      Alert("ZoneBreakout signals entry!");
      lastalerttime= Time[0];
      lastalertprice= EntrySignalsBuffer[0];
   } 
   else {
      lastalerttime= 0;
      lastalertprice= 0.0;
   }


   return(0);
}
   
 
//+------------------------------------------------------------------+
//| Compute index of first/last bar of yesterday and today           |
//+------------------------------------------------------------------+
int BreakoutRanges(int offset, int lastbar, int tzlocal, int tzdest)
{     
   int i, j, k,
       tzdiff= tzlocal - tzdest,
       tzdiffsec= tzdiff*3600, 
       tidxstart[2]= { 0, 0}, 
       tidxend[2]= { 0, 0 };
   double topen[2]= { 0.0, 0.0 }, 
           tclose[2]= { 99999.9, 99999.9 };
   string tfrom[3]= { "07:00", "08:00" ,  /*rest of day: */ "12:00"},
          tto[3]=   { "08:00", "12:00",   /*rest of day: */ "24:00" },
          tday;
   bool inperiod= -1;
   datetime timet;
   

   //
   // search back for the beginning of the day
   //
   tday= TimeToStr(Time[lastbar]-tzdiffsec, TIME_DATE);   
   for (  ; lastbar<Bars; lastbar++) {
      if (TimeToStr(Time[lastbar] - tzdiffsec, TIME_DATE)!=tday) {
         lastbar--;
         break;      
      }
   }   



   //
   // find the high/low for the two periods and carry them forward through the day
   //
   tday= "XXX";
   for (i= lastbar; i>=offset; i--) {
   
      timet= Time[i] - tzdiffsec;   // time of this bar
      
      string timestr= TimeToStr(timet, TIME_MINUTES),    // current time HH:MM
             thisday= TimeToStr(timet, TIME_DATE);       // current date
             
      EntrySignalsBuffer[i]= 0;  
      
      //
      // for all three periods (first period, second period, rest of day)
      //
      for (j= 0; j<3; j++) {
      
         if (tfrom[j]<=timestr && timestr<tto[j]) {   // Bar[i] in this period
      
            if (inperiod!=j) { // entered new period, so last one is completed
                                 
               if (j>0) {      // now draw high/low back over the recently completed period
               
                  for (k= tidxstart[j-1]; k>=tidxend[j-1]; k--) {
                     if (j-1==0) {
                        Zone1Upper[k]= tclose[j-1];
                        Zone1Lower[k]= tclose[j-1];
           
                  }
               }
               
               inperiod= j;   // remember current period
            }
            


            // for the current period find idxstart, idxend and compute high/low
            if (tidxstart[j]==0) {
               tidxstart[j]= i;
               tday= thisday;
            }
         
            tidxend[j]= i;
      
            topen[j]= MathMax(topen[j], Open[i]);
            tclose[j]= MathMin(tclose[j], Close[i]);
         }
      }
     
      
      //------------------------------------------------------------------------ 
      // carry forward the periods for which we have definite high/lows
      //
      if (inperiod>=1 && tday==thisday) { // first time period completed
         Zone1Upper[i]= tclose[0] + PipsForEntry*Point;
         Zone1Lower[i]= tclose[0] - PipsForEntry*Point;
    }
         
         CheckSignal(i, Zone1Upper[i], OP_BUY, EntrySignalsBuffer);
         CheckSignal(i, Zone1Lower[i], OP_SELL, EntrySignalsBuffer);
      }
    {   // none yet to carry forward (zero to clear old values, e.g. from switching timeframe)
         Zone1Upper[i]= 0;
         Zone1Lower[i]= 0;
      }
     

      //
      // at the beginning of a new day reset everything
      //
      if (tday!="XXX" && tday!=thisday) {
         Print("#", i, "new day ", thisday, "/", tday);
      
         tday= "XXX";
         
         inperiod= -1;
         
         for (j= 0; j<2; j++) {
            tidxstart[j]= 0;
            tidxend[j]= 0;
         
            topen[j]= 0;
            tclose[j]= 99999;
         }
      }
   }

   return (0);       
}
//+------------------------------------------------------------------+
//| Check price break                                                |
//+------------------------------------------------------------------+
bool CheckSignal(int shift, double price, int type, double &signalbuffer[]) 
{
   bool signal= false;

   if (type==OP_BUY && ((Open[shift]<price && High[shift]>price) || (Close[shift+1]<price && Open[shift]>price)) ) {
      signalbuffer[shift]= price;
      signal= true;
  }

   if (type==OP_SELL && (Open[shift]>price && Low[shift]<price) || (Close[shift+1]>price && Open[shift]<price)) {
      signalbuffer[shift]= price;
      signal= true;
  }
  
  return (signal);
}

Similar scripts

Batfink Signal (Target 4)

This indicator identifies specific price breakout signals by monitoring volatility zones established during predefined temporal windows and alerting on expansion beyond a set pip distance.

Batfink Signal (Target 3)

This indicator identifies institutional supply and demand zones by calculating price extremes across specific time windows and plotting breakout signals when market price breaches defined pip-based buffers.

Batfink Signal (Target 2)

This indicator identifies specific price volatility zones based on pre-defined intraday time blocks and triggers visual alerts when the market breaks outside of these dynamically calculated bounds.

Batfink Signal (Stoploss B)

Identifies dynamic support and resistance levels by calculating price extremes across specific hourly windows and generating alerts on subsequent pips-based breaches.

Batfink Signal (Stoploss A)

This indicator identifies specific price breakouts by dynamically projecting high and low volatility zones derived from predefined historical time segments across different timezones.

Batfink Signal (Line 1 and 2)

This indicator identifies intraday liquidity thresholds by projecting price boundaries from specific time windows and signaling entry alerts when market action breaches these dynamically calculated levels.

SDX-ZoneBreakout_v1

This indicator identifies volatility boundaries by projecting high and low price extremes from specific chronological windows into forward-moving breakout zones.

SDX-ZoneBreakout2_v1

This indicator identifies high-volatility breakout points by mapping price extremes from specific daily time windows and detecting momentum shifts beyond those established boundaries.

SDX-ZoneBreakout1

This indicator identifies bullish and bearish momentum by detecting price breaches of high and low boundaries established during specific predefined temporal windows.

SDX__8h

This indicator dynamically identifies and projects high/low boundaries from specific intra-day time windows to detect price breakouts with integrated pip-offset filters.

SDX-ZoneBreakout2

This indicator identifies momentum shifts by mapping high and low price extremes from specific morning trading windows and projecting them as dynamic breakout boundaries for the remainder of the session.

Comments