Copy of 27-23 Rule

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Author: tonyc2a@yahoo.com
Copy of 27-23 Rule

The 27-23 Rule is an automated trading tool designed to identify specific price action boundaries and provide real-time alerts based on historical daily benchmarks. Its primary function is to project visual "trading zones" onto your chart, helping traders visualize key entry levels for the day.

How the Logic Works

The script operates by analyzing historical price data to establish three primary reference points every day. It looks back through past candles to find a specific starting time (set by the user) and calculates the following based on the opening price of that moment:

  • Reference Price: The baseline price established at the start of the trading session.
  • Buy Price (Upper Bound): Calculated by adding a specific "buffer" (the 27-point logic) to the Reference Price. This represents a target resistance or breakout level.
  • Sell Price (Lower Bound): Calculated by subtracting a specific "buffer" (the 23-point logic) from the Reference Price. This represents a support or breakdown level.

Visual Representation

To make these levels easy to track, the script automatically draws horizontal trend lines on your chart for both current and past dates. These lines are color-coded for clarity:

  • Blue Lines: Represent the daily Reference Price.
  • Green Lines: Represent the Buy Price (Upper Bound) and the associated Stop Loss level.
  • Red/Brick Lines: Represent the Sell Price (Lower Bound) and the associated Stop Loss level.

By visualizing these levels, the tool allows traders to see where the "rules" of the day are set at a glance.

Real-Time Monitoring & Alerts

Beyond just drawing lines, the script actively monitors the live market price against today's specific calculated levels. It acts as an automated watchdog:

  1. Sell Alert: If the price moves from above the "Sell Price" to below it, the script triggers a notification. This signals that the price has broken down through the lower support zone.
  2. Buy Alert: If the price moves from below the "Buy Price" to above it, the script triggers a notification. This signals that the price has broken out above the upper resistance zone.

Summary for the User

In simple terms, this tool creates a customized "trading map" every day. It identifies where the important boundaries are based on your chosen rules and alerts you the moment the market price crosses those specific lines, allowing for faster reaction times during volatile price movements.

Price Data Components
Series array that contains open time of each bar
Miscellaneous
It issuies visual alerts to the screen
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Copy of 27-23 Rule 
/*-----------------------------+
|			       |
| Shared by www.Aptrafx.com    |
|			       |
+------------------------------*/

//+------------------------------------------------------------------+
//|                                                   27-23 Rule.mq4 |
//|                                                tonyc2a@yahoo.com |
//|                                             Version 1.0.12-09-04 |
//+------------------------------------------------------------------+
#property copyright "tonyc2a@yahoo.com"
#property link      ""

extern double TakeProfit = 100;
extern double Lots = 0.1;
extern double TrailingStop = 15;
extern double InitialStop = 30;
extern double RefHour = 8;
extern double CloseHour = 9;
extern double TopPriceBuf = 27;
extern double BottomPriceBuf = 23;
extern double MaxSlippage = 5;
extern double EntryCap = 5;
extern string WavFilePath="sound.wav";

double Points;


//+------------------------------------------------------------------+
//| expert initialization function                                   |
//+------------------------------------------------------------------+
int init()
  {
//---- TODO: Add your code here.
   Points = MarketInfo (Symbol(), MODE_POINT); 
//----
   return(0);
  }
//+------------------------------------------------------------------+
//| expert deinitialization function                                 |
//+------------------------------------------------------------------+
int deinit()
  {
//---- TODO: Add your code here.
   
//----
   return(0);
  }
//+------------------------------------------------------------------+
//| expert start function                                            |
//+------------------------------------------------------------------+
int start()
  {
//---- TODO: Add your code here.
   RefreshRates();
   int BarsInADay=24*60/Period();
   int n=MathFloor(BarsInADay*0.7);
   double RefPrice, BuyPrice, SellPrice, LongStopPrice, ShortStopPrice, TodaysRefPrice, TodaysBuyPrice, TodaysSellPrice;

   for(int i=0;i<=200;i++){
      if(TimeHour(Time[i])!=RefHour || TimeMinute(Time[i]) !=0) continue;
      
      RefPrice=Open[i];
      BuyPrice=RefPrice+(TopPriceBuf*Points);
      SellPrice=RefPrice-(BottomPriceBuf*Points);
      LongStopPrice=BuyPrice-(InitialStop*Points);
      ShortStopPrice=SellPrice+(InitialStop*Points);
            
      if(TimeDayOfYear(Time[i])==TimeDayOfYear(CurTime())){
         TodaysRefPrice=RefPrice;
         TodaysBuyPrice=BuyPrice;
         TodaysSellPrice=SellPrice;
         }
         
      int x=MathMax(i-n,0);
      string DateString=TimeDay(Time[i])+"/"+TimeMonth(Time[i]);
      double TrendLineBeginTime=Time[i];
      double TrendLineEndTime=Time[x];

      ObjectCreate(DateString+" RefPrice",OBJ_TREND,0,TrendLineBeginTime,RefPrice,TrendLineEndTime,RefPrice);
      ObjectSet(DateString+" RefPrice",OBJPROP_TIME1,TrendLineBeginTime);
      ObjectSet(DateString+" RefPrice",OBJPROP_TIME2,TrendLineEndTime);
      ObjectSet(DateString+" RefPrice",OBJPROP_PRICE1,RefPrice);
      ObjectSet(DateString+" RefPrice",OBJPROP_PRICE2,RefPrice);
      ObjectSet(DateString+" RefPrice",OBJPROP_COLOR,MediumBlue);
      ObjectSet(DateString+" RefPrice",OBJPROP_WIDTH,2);
      ObjectSet(DateString+" RefPrice",OBJPROP_RAY,0);
      
      ObjectCreate(DateString+" BuyPrice",OBJ_TREND,0,TrendLineBeginTime,BuyPrice,TrendLineEndTime,BuyPrice);
      ObjectSet(DateString+" BuyPrice",OBJPROP_TIME1,TrendLineBeginTime);
      ObjectSet(DateString+" BuyPrice",OBJPROP_TIME2,TrendLineEndTime);
      ObjectSet(DateString+" BuyPrice",OBJPROP_PRICE1,BuyPrice);
      ObjectSet(DateString+" BuyPrice",OBJPROP_PRICE2,BuyPrice);      
      ObjectSet(DateString+" BuyPrice",OBJPROP_COLOR,LimeGreen);
      ObjectSet(DateString+" BuyPrice",OBJPROP_WIDTH,3);
      ObjectSet(DateString+" BuyPrice",OBJPROP_RAY,0);
      
      ObjectCreate(DateString+" SellPrice",OBJ_TREND,0,TrendLineBeginTime,SellPrice,TrendLineEndTime,SellPrice);
      ObjectSet(DateString+" SellPrice",OBJPROP_TIME1,TrendLineBeginTime);
      ObjectSet(DateString+" SellPrice",OBJPROP_TIME2,TrendLineEndTime);
      ObjectSet(DateString+" SellPrice",OBJPROP_PRICE1,SellPrice);
      ObjectSet(DateString+" SellPrice",OBJPROP_PRICE2,SellPrice);     
      ObjectSet(DateString+" SellPrice",OBJPROP_COLOR,FireBrick);
      ObjectSet(DateString+" SellPrice",OBJPROP_WIDTH,3);   
      ObjectSet(DateString+" SellPrice",OBJPROP_RAY,0); 
      
      ObjectCreate(DateString+" LongStopPrice",OBJ_TREND,0,TrendLineBeginTime,LongStopPrice,TrendLineEndTime,LongStopPrice);
      ObjectSet(DateString+" LongStopPrice",OBJPROP_TIME1,TrendLineBeginTime);
      ObjectSet(DateString+" LongStopPrice",OBJPROP_TIME2,TrendLineEndTime);
      ObjectSet(DateString+" LongStopPrice",OBJPROP_PRICE1,LongStopPrice);
      ObjectSet(DateString+" LongStopPrice",OBJPROP_PRICE2,LongStopPrice);     
      ObjectSet(DateString+" LongStopPrice",OBJPROP_COLOR,LimeGreen);
      ObjectSet(DateString+" LongStopPrice",OBJPROP_WIDTH,1);
      ObjectSet(DateString+" LongStopPrice",OBJPROP_RAY,0);
      
      ObjectCreate(DateString+" ShortStopPrice",OBJ_TREND,0,TrendLineBeginTime,ShortStopPrice,TrendLineEndTime,ShortStopPrice);
      ObjectSet(DateString+" ShortStopPrice",OBJPROP_TIME1,TrendLineBeginTime);
      ObjectSet(DateString+" ShortStopPrice",OBJPROP_TIME2,TrendLineEndTime);
      ObjectSet(DateString+" ShortStopPrice",OBJPROP_PRICE1,ShortStopPrice);
      ObjectSet(DateString+" ShortStopPrice",OBJPROP_PRICE2,ShortStopPrice);
      ObjectSet(DateString+" ShortStopPrice",OBJPROP_COLOR,Red);
      ObjectSet(DateString+" ShortStopPrice",OBJPROP_WIDTH,1);
      ObjectSet(DateString+" ShortStopPrice",OBJPROP_RAY,0);
      }
      
   Comment( "\n","Today\'s Info:\n\n",
         "RefPrice: ",TodaysRefPrice,"\n",
         "BuyPrice: ",TodaysBuyPrice,"\n",
         "SellPrice: ",TodaysSellPrice,"\n");
      
   if( (Open[1]>TodaysSellPrice||Open[0]>TodaysSellPrice) && Close[0]<=TodaysSellPrice) {
      //PlaySound(WavFilePath);
      Alert(Symbol()," Price went Below SellPrice");
      
      }
   if( (Open[1]<TodaysBuyPrice||Open[0]<TodaysBuyPrice) && Close[0]>=TodaysBuyPrice){
      //PlaySound(WavFilePath);
      Alert( Symbol()," Price went Above BuyPrice");
      }
   
      
             
//----
   return(0);
  }
//+------------------------------------------------------------------+

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