camarilladtHistorical_V4_v2

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Author: Copyright � 2005, MetaQuotes Software Corp.
camarilladtHistorical_V4_v2

This script is designed to automatically calculate and display historical "Camarilla Pivot" levels on a trading chart. It serves as a technical analysis tool that helps traders identify potential support and resistance zones based on the price action of the previous trading day.

Core Functionality

The primary purpose of this script is to project specific mathematical boundaries onto your current chart. These boundaries change daily and are derived from three key pieces of data from the previous day:

  • The Highest Price reached (High)
  • The Lowest Price reached (Low)
  • The Closing Price (Close)

How the Logic Works

1. Data Processing & Time Management The script scans through historical price data to identify when a new day begins. It accounts for different time zones (via a GMT offset) and ensures that transitions between days—specifically handling the gap between Sunday and Monday—are processed correctly. This allows the tool to accurately "reset" its calculations every 24 hours.

2. Pivot Point Calculations Once a new day is identified, the script calculates several distinct price levels:

  • The Central Pivot: This is the baseline average of the previous day's high, low, and close.
  • Resistance Levels (H3, H4, H5): These are calculated as "ceilings." They represent prices that may act as barriers where the market might struggle to move higher.
  • Support Levels (L3, L4, L5): These are calculated as "floors." They represent prices where the market might find a base and begin to bounce back up.

3. Visual Representation Instead of just providing raw numbers, the script draws these levels as physical lines on your trading window.

  • It uses different colors (Blue for high/resistance levels and Red for low/support levels) to help you distinguish between "buy" zones and "sell" zones at a glance.
  • It includes an automated labeling system that places text markers (like "H3", "L4", etc.) directly on the chart so you can identify each specific level without confusion.

User Requirements & Constraints

To ensure the logic remains accurate, the script performs a safety check: it is designed to work best on intraday timeframes. If you attempt to view it on a chart with a period larger than 4 hours (such as Daily or Weekly charts), the script will alert you that the timeframe is too large for the pivot calculations to display correctly.

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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camarilladtHistorical_V4_v2 
//+------------------------------------------------------------------+
//|                                     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 Blue
#property indicator_color2 Blue
#property indicator_color3 Blue
#property indicator_color4 Orange
#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=Blue;
extern color LColor=Red;
extern int fontsize=10;
extern int LabelShift=20;
//----
double H5Buffer[];
double H4Buffer[];
double H3Buffer[];
double PivotBuffer[];
double L3Buffer[];
double L4Buffer[];
double L5Buffer[];
double P, H3, H4, H5;
double 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,Blue);
   SetIndexBuffer(0,H5Buffer);
   SetIndexStyle(1,DRAW_LINE, 0,2,Blue);
   SetIndexBuffer(1,H4Buffer);
   SetIndexStyle(2,DRAW_LINE, 0,2,Blue);
   SetIndexBuffer(2,H3Buffer);
   SetIndexStyle(3,DRAW_LINE, 0,2,Orange);
   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]=H4;
      H3Buffer[cnt]=H3;
      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",Orange);
     }
   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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