Cam_Supp
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This script is designed to automatically calculate and display historical Camarilla Pivot levels on a trading chart. For traders who use pivot points to identify potential support and resistance areas, this tool automates the mathematical heavy lifting by plotting these levels based on previous trading sessions.
Core Functional Logic
The script operates by analyzing daily price action—specifically the high, low, and closing prices of previous days—to project key price benchmarks for the current day. Here is a breakdown of how it handles that data:
1. Daily Price Tracking The tool scans through historical price data to identify the transition between different days. It accounts for specific time shifts (GMT) to ensure that even during weekend gaps or across different time zones, the daily "High" and "Low" are captured accurately.
2. Mathematical Calculations Once a new day is identified, the script takes the High, Low, and Close of the previous day and applies specific Camarilla formulas. These formulas determine several key levels:
- The Pivot Point: A central baseline calculated as the average of the previous day's high, low, and close.
- Support & Resistance Levels: It calculates multiple layers (specifically H1 through H5 and L1 through L5) based on fixed percentage multipliers. These represent "breakout" points where price might stall or reverse.
3. Dynamic Visual Mapping Instead of just showing a single point, the script maps these calculated levels across the entire chart. This allows you to see where historical resistance and support zones were located in the past, helping you visualize the "path" the price took relative to these key boundaries.
4. On-Chart Labeling To improve readability, the tool includes an automatic labeling system. It places text markers on the right side of the chart (e.g., "H3," "L4," "Pivot") so you can immediately identify which line represents which specific level without having to guess based on color alone.
Summary for the User
Essentially, this script transforms raw historical price data into a visual map of "battlegrounds." By looking at where these lines appear on your chart, you can better understand how the market reacted to specific price barriers in previous sessions, providing context for potential future movements.
//+------------------------------------------------------------------+
//| camarilladtHistorical_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 7
#property indicator_color1 Lime
#property indicator_color2 Red
#property indicator_color3 Red
#property indicator_color4 Black
#property indicator_color5 Red
#property indicator_color6 Red
#property indicator_color7 Red
#property indicator_width1 2
#property indicator_width2 2
#property indicator_width3 2
#property indicator_width4 1
#property indicator_width5 2
#property indicator_width6 2
#property indicator_width7 2
//---- input parameters
extern int GMTshift=0;
extern color HColor = Black;
extern color LColor = Black;
extern int fontsize=10;
extern int LabelShift=20;
double H5Buffer[];
double H4Buffer[];
double H3Buffer[];
double PivotBuffer[];
double L3Buffer[];
double L4Buffer[];
double L5Buffer[];
double P, H1, H2, H3, H4, H5;
double L1, L2, L3, L4, L5;
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(7);
//---- indicators
SetIndexStyle(0,DRAW_LINE, 0,2,Red);
SetIndexBuffer(0,H5Buffer);
SetIndexStyle(1,DRAW_LINE, 0,2,Red);
SetIndexBuffer(1,H4Buffer);
SetIndexStyle(2,DRAW_LINE, 0,2,Red);
SetIndexBuffer(2,H3Buffer);
SetIndexStyle(3,DRAW_LINE, STYLE_DASH, 1, Black);
SetIndexBuffer(3,PivotBuffer);
SetIndexStyle(4,DRAW_LINE, 0,2,Red);
SetIndexBuffer(4,L3Buffer);
SetIndexStyle(5,DRAW_LINE, 0,2,Red);
SetIndexBuffer(5,L4Buffer);
SetIndexStyle(6,DRAW_LINE, 0,2,Red);
SetIndexBuffer(6,L5Buffer);
SetIndexLabel(0,"H5");
SetIndexLabel(1,"H4");
SetIndexLabel(2,"H3");
SetIndexLabel(3,"Pivot");
SetIndexLabel(4,"L3");
SetIndexLabel(5,"L4");
SetIndexLabel(6,"L5");
//----
// IndicatorShortName("Cam Pivots");
//----
return(0);
}
//+------------------------------------------------------------------+
//| Custor indicator deinitialization function |
//+------------------------------------------------------------------+
int deinit()
{
//---- TODO: add your code here
ObjectDelete("CamPivot");
ObjectDelete("SupL3");
ObjectDelete("ResH3");
ObjectDelete("SupL4");
ObjectDelete("ResH4");
ObjectDelete("SupL5");
ObjectDelete("ResH5");
Comment("");
//----
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;
Comment("Limit = ",limit," Bars = ",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;
L1 = prev_close - ((prev_high - prev_low)*(D1));
L2 = prev_close - ((prev_high - prev_low)*(D2));
L3 = prev_close - ((prev_high - prev_low)*(D3));
L4 = prev_close - ((prev_high - prev_low)*(D4));
L5 = prev_close - (H5 - 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]=L1;
H3Buffer[cnt]=L2;
L3Buffer[cnt]=L3;
L4Buffer[cnt]=L4;
L5Buffer[cnt]=L5;
}
if (cur_day == TimeDay(CurTime())) DisplayLabels();
//----
return(0);
}
void DisplayLabels()
{
if(ObjectFind("CamPivot") != 0)
{
ObjectCreate("CamPivot", OBJ_TEXT, 0, 0,0);
ObjectSetText("CamPivot", " Pivot",fontsize,"Arial",Black);
}
else
{
ObjectMove("CamPivot", 0, Time[20],P);
}
if(ObjectFind("SupL3") != 0)
{
ObjectCreate("SupL3", OBJ_TEXT, 0, 0, 0);
ObjectSetText("SupL3", " L 3",fontsize,"Arial",LColor);
}
else
{
ObjectMove("SupL3", 0, Time[20],L3);
}
if(ObjectFind("ResH3") != 0)
{
ObjectCreate("ResH3", OBJ_TEXT, 0, 0, 0);
ObjectSetText("ResH3", " H 3",fontsize,"Arial",HColor);
}
else
{
ObjectMove("ResH3", 0, Time[20],H3);
}
if(ObjectFind("SupL4") != 0)
{
ObjectCreate("SupL4", OBJ_TEXT, 0, 0, 0);
ObjectSetText("SupL4", " L 4",fontsize,"Arial",LColor);
}
else
{
ObjectMove("SupL4", 0, Time[20],L4);
}
if(ObjectFind("ResH4") != 0)
{
ObjectCreate("ResH4", OBJ_TEXT, 0, 0, 0);
ObjectSetText("ResH4", " H 4",fontsize,"Arial",HColor);
}
else
{
ObjectMove("ResH4", 0, Time[20],H4);
}
if(ObjectFind("SupL5") != 0)
{
ObjectCreate("SupL5", OBJ_TEXT, 0, 0, 0);
ObjectSetText("SupL5", " L 5",fontsize,"Arial",LColor);
}
else
{
ObjectMove("SupL5", 0, Time[20],L5);
}
if(ObjectFind("ResH5") != 0)
{
ObjectCreate("ResH5", OBJ_TEXT, 0, 0, 0);
ObjectSetText("ResH5", " H 5",fontsize,"Arial",HColor);
}
else
{
ObjectMove("ResH5", 0, Time[20],H5);
}
}
//+------------------------------------------------------------------+
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