cam_H1_H5_Historical

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Author: Copyright � 2005, MetaQuotes Software Corp.
cam_H1_H5_Historical

This script is designed to automatically calculate and visualize specific price levels known as Camarilla Pivots on your trading charts. These pivots are popular among traders for identifying potential support and resistance zones based on the previous day's price action.

Core Functionality

The primary purpose of this tool is to take the historical data from the previous trading day—specifically the highest price reached, the lowest price reached, and the final closing price—and use those three values to project six key horizontal levels onto your current chart.

These levels are broken down as follows:

  • Pivot Point: A central baseline calculated by averaging the previous day's high, low, and close.
  • H1 through H5: These represent five distinct "High" price targets. Each is calculated using a specific mathematical ratio (D1 through D5) that determines where the market might face significant friction or reversal opportunities based on the previous day's volatility.

How it Works for the User

  • Automated Calculation: You do not need to manually calculate these numbers. The script scans the history, identifies when a new day begins, and automatically updates the lines.
  • Visual Representation: The script draws six distinct lines on your chart. Five of these are solid green lines representing the H1-H5 levels, while the Pivot point is highlighted as a dashed yellow line to make it easily distinguishable.
  • Dynamic Labeling: To ensure you know exactly what each line represents at a glance, the script places text labels (e.g., "H1", "Pivot") directly on the chart near the current price action.

Important Usage Requirements

To ensure the logic functions correctly, there are two specific constraints built into the script:

  1. Timeframe Limitation: The tool is designed to work on shorter timeframes. If you attempt to use it on a daily or weekly chart (any period longer than 4 hours), the script will trigger an alert and notify you that the timeframe is too large for these specific calculations.
  2. Historical Accuracy: The script includes logic to handle the transition between days, specifically accounting for "Sunday/Monday" gaps to ensure the pivots remain accurate even when the market takes a break over the weekend.
Price Data Components
Series array that contains open time of each bar
Miscellaneous
Implements a curve of type %1It issuies visual alerts to the screen
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cam_H1_H5_Historical 
//+------------------------------------------------------------------+
//|                                      cam_H1_H5_Historical_V4.mq4 |
//|                      Copyright © 2005, MetaQuotes Software Corp. |
//|                                        http://www.metaquotes.net |
//| Modified to chart historical camarilla pivots by MrPip           |
//| 3/28/06 Fixed problem of Sunday/Monday pivots                    |
//|         and added some ideas from goodtiding5 (Kenneth Z.)       |
//+------------------------------------------------------------------+
#property copyright "Copyright © 2005, MetaQuotes Software Corp."
#property link      "http://www.metaquotes.net"

#property indicator_chart_window
#property indicator_buffers 6
#property indicator_color1 Green
#property indicator_color2 Green
#property indicator_color3 Green
#property indicator_color4 Green
#property indicator_color5 Green
#property indicator_color6 Yellow
#property indicator_width1 2
#property indicator_width2 2
#property indicator_width3 2
#property indicator_width4 2
#property indicator_width5 2
#property indicator_width6 1

//---- input parameters

extern int  GMTshift=0;
extern color HColor = Green;
extern int fontsize=10;
extern int LabelShift=20;

double H5Buffer[];
double H4Buffer[];
double H3Buffer[];
double H2Buffer[];
double H1Buffer[];
double PivotBuffer[];

double P, H1, H2, H3, H4, H5;

double D1=0.091667;
double D2=0.183333;
double D3=0.2750;
double D4=0.55;

double prev_high=0;
double prev_low=0;
double prev_close=0;
double cur_day=0;
double prev_day=0;
double day_high=0;
double day_low=0;

//+------------------------------------------------------------------+
//| Custom indicator initialization function                         |
//+------------------------------------------------------------------+
int init()
  {
   IndicatorBuffers(6);
//---- indicators
   SetIndexStyle(0,DRAW_LINE, 0,2,Green);
   SetIndexBuffer(0,H5Buffer);
   SetIndexStyle(1,DRAW_LINE, 0,2,Green);
   SetIndexBuffer(1,H4Buffer);
   SetIndexStyle(2,DRAW_LINE, 0,2,Green);
   SetIndexBuffer(2,H3Buffer);
   SetIndexStyle(3,DRAW_LINE, 0,2,Green);
   SetIndexBuffer(3,H2Buffer);
   SetIndexStyle(4,DRAW_LINE, 0,2,Green);
   SetIndexBuffer(4,H1Buffer);
   SetIndexStyle(5,DRAW_LINE, STYLE_DASH, 1, Yellow);
   SetIndexBuffer(5,PivotBuffer);
   
   SetIndexLabel(0,"H5");
   SetIndexLabel(1,"H4");
   SetIndexLabel(2,"H3");
   SetIndexLabel(3,"H2");
   SetIndexLabel(4,"H1");
   SetIndexLabel(5,"Pivot");

   
//----
//   IndicatorShortName("Cam H Pivots");
//----
   return(0);
  }
//+------------------------------------------------------------------+
//| Custor indicator deinitialization function                       |
//+------------------------------------------------------------------+
int deinit()
  {
//---- TODO: add your code here
   ObjectDelete("CamPivot");
   ObjectDelete("ResH1");
   ObjectDelete("ResH2");
   ObjectDelete("ResH3");
   ObjectDelete("ResH4");
   ObjectDelete("ResH5");   
//----
   return(0);
  }

//+------------------------------------------------------------------+
//| Custom indicator iteration function                              |
//+------------------------------------------------------------------+
int start()
  {
   int    counted_bars=IndicatorCounted();
   int cnt, limit;

//---- exit if period is greater than 4 hr charts
   if(Period() > 240)
   {
      Alert("Error - Chart period is greater than 4 Hr.");
      return(-1); // then exit
   }
   if(counted_bars<0) return(-1);

//---- last counted bar will be recounted
//   if(counted_bars>0) counted_bars--;

//   limit=(Bars-counted_bars)-1;
   limit=counted_bars;

//---- Get new daily prices & calculate pivots

   for (cnt=limit;cnt >=0;cnt--)
   {
   	if (TimeDayOfWeek(Time[cnt]) == 0)
	   {
        cur_day = prev_day;
	   }
	   else
	   {
        cur_day = TimeDay(Time[cnt]- (GMTshift*3600));
	   }
	   
   	if (prev_day != cur_day)
   	{
	   	prev_close = Close[cnt+1];
		   prev_high = day_high;
		   prev_low = day_low;

	      day_high = High[cnt];
 	      day_low  = Low[cnt];

P = (prev_high + prev_low + prev_close)/3;//Pivot
//---- To display all 8 Camarilla pivots remove comment symbols below and
// add the appropriate object functions below
H5 = (prev_high/prev_low)*prev_close;
H4 = ((prev_high - prev_low)* D4) + prev_close;
H3 = ((prev_high - prev_low)* D3) + prev_close;
H2 = ((prev_high - prev_low) * D2) + prev_close;
H1 = ((prev_high - prev_low) * D1) + prev_close;


		   prev_day = cur_day;
	   }
      if (High[cnt]>day_high)
      {
         day_high = High[cnt];
      }
      if (Low[cnt]<day_low)
      {
         day_low = Low[cnt];
      }
      
      
      
//         day_low=Open[cnt]; day_high=Open[cnt];
      
      

//---  Draw  Pivot lines on chart

      PivotBuffer[cnt]=P;
      H5Buffer[cnt]=H5;
      H4Buffer[cnt]=H4;
      H3Buffer[cnt]=H3;
      H2Buffer[cnt]=H2;
      H1Buffer[cnt]=H1;
      
   }

   if (cur_day == TimeDay(CurTime()))   DisplayLabels();
//----
   return(0);
  }

void DisplayLabels()
{
      datetime LabelShiftTime;
      
      LabelShiftTime = Time[LabelShift];
      if(ObjectFind("CamPivot") != 0)
      {
        ObjectCreate("CamPivot", OBJ_TEXT, 0, 0,0);
        ObjectSetText("CamPivot", "                 Pivot",fontsize,"Arial",Yellow);
      }
      else
      {
        ObjectMove("CamPivot", 0, LabelShiftTime,P);
      }
      
      if(ObjectFind("ResH1") != 0)
      {
      ObjectCreate("ResH1", OBJ_TEXT, 0, 0, 0);
      ObjectSetText("ResH1", "      H 1",fontsize,"Arial",HColor);
      }
      else
      {
         ObjectMove("ResH1", 0, LabelShiftTime,H1);
      }

      if(ObjectFind("ResH2") != 0)
      {
      ObjectCreate("ResH2", OBJ_TEXT, 0, 0, 0);
      ObjectSetText("ResH2", "      H 2",fontsize,"Arial",HColor);
      }
      else
      {
         ObjectMove("ResH2", 0, LabelShiftTime,H2);
      }
      
      if(ObjectFind("ResH3") != 0)
      {
      ObjectCreate("ResH3", OBJ_TEXT, 0, 0, 0);
      ObjectSetText("ResH3", "      H 3",fontsize,"Arial",HColor);
      }
      else
      {
         ObjectMove("ResH3", 0, LabelShiftTime,H3);
      }
      
      if(ObjectFind("ResH4") != 0)
      {
      ObjectCreate("ResH4", OBJ_TEXT, 0, 0, 0);
      ObjectSetText("ResH4", "      H 4",fontsize,"Arial",HColor);
      }
      else
      {
         ObjectMove("ResH4", 0, LabelShiftTime,H4);
      }
      
      if(ObjectFind("ResH5") != 0)
      {
      ObjectCreate("ResH5", OBJ_TEXT, 0, 0, 0);
      ObjectSetText("ResH5", "      H 5",fontsize,"Arial",HColor);
      }
      else
      {
         ObjectMove("ResH5", 0, LabelShiftTime, H5);
      }
}
//+------------------------------------------------------------------+

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