Critical_PointsV2

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Author: emsjoflo
Critical_PointsV2

This tool is designed to provide traders with a dynamic visual map of potential price levels based on moving averages and Fibonacci-inspired offsets. Rather than simply showing a static trend line, it identifies a "center" price and projects a series of support and resistance zones around it in real-time.

Core Logic Overview

The script operates through three primary stages:

1. Trend Calculation (The Anchor) The tool begins by calculating a Moving Average (MA), which serves as the baseline or "anchor" for all other calculations. It offers several variations of these averages, allowing users to choose different smoothing methods (such as Simple, Exponential, Smoothed, or Linear Weighted). This anchor represents the current momentum of the market.

2. Fibonacci Projection (The Zone Creation) Once the anchor price is established, the script calculates 16 specific price levels relative to that anchor. It uses a series of predefined "Fibonacci" numbers as multipliers to determine how far above and below the anchor the lines should be placed:

  • Upper Zones: Eight different price levels are projected above the moving average.
  • Lower Zones: Eight different price levels are projected below the moving average.

These calculations ensure that the levels move in harmony with the market; as the moving average trends upward or downward, the entire "cloud" of support and resistance lines shifts automatically to match the new price environment.

3. Visual Rendering The script takes these 16 calculated values and draws them onto your trading chart as horizontal dashed lines. Each line is assigned a unique color, making it easy for a trader to distinguish between different levels of intensity or proximity to the current price. Because these are drawn as "objects," they remain clean and organized on the screen, updating their vertical positions instantly as new market data arrives.

Summary for the User

Think of this tool as a "dynamic corridor." Instead of drawing static lines that become obsolete as the market moves, this script creates a moving web of potential price targets. It tells you where the price has been, where it is currently trending, and provides a visual guide of the surrounding levels where the market might encounter friction (support or resistance) based on the current trend's momentum.

Indicators Used
Moving average indicator
Miscellaneous
Implements a curve of type %1
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Critical_PointsV2 
//+------------------------------------------------------------------+
//|                                              Critical Points.mq4 |
//|                                                         emsjoflo |
//|                                  automaticforex.invisionzone.com |
//+------------------------------------------------------------------+
#property copyright "emsjoflo"
#property link      "automaticforex.invisionzone.com"

#property indicator_chart_window
#property indicator_buffers 1
#property indicator_color1 Red
//---- input parameters
extern int       MAPeriod=157;
extern int       MAType = 0;
extern int       Fib1=21;
extern int       Fib2=34;
extern int       Fib3=55;
extern int       Fib4=89;
extern int       Fib5=144;
extern int       Fib6=233;
extern int       Fib7=377;
extern int       Fib8=610;
extern color     Color1=Khaki;
extern color     Color2=LightGreen;
extern color     Color3=LightSkyBlue;
extern color     Color4=Plum;
extern color     Color5=LightSalmon;
extern color     Color6=Tomato;
extern color     Color7=Magenta;
extern color     Color8=Aqua;
double Line1,Line_1,Line2,Line_2,Line3,Line_3,Line4,Line_4,Line5,Line_5,Line6,Line_6,Line7,Line_7,Line8,Line_8,MAVal,MAValOld;

//---- buffers
double ExtMapBuffer1[];
//---- variables
int    MAMode;
string strMAType;
//+------------------------------------------------------------------+
//| Custom indicator initialization function                         |
//+------------------------------------------------------------------+
int init()
  {
//---- indicators
   SetIndexStyle(0,DRAW_LINE);
   SetIndexBuffer(0,ExtMapBuffer1);
//----
switch (MAType)
   {
      case 1: strMAType="EMA"; MAMode=MODE_EMA; break;
      case 2: strMAType="SMMA"; MAMode=MODE_SMMA; break;
      case 3: strMAType="LWMA"; MAMode=MODE_LWMA; break;
      case 4: strMAType="LSMA"; break;
      default: strMAType="SMA"; MAMode=MODE_SMA; break;
   }
   return(0);
  }
//+------------------------------------------------------------------+
//| Custom indicator deinitialization function                       |
//+------------------------------------------------------------------+
int deinit()
  {
//----
ObjectDelete("cp1");
ObjectDelete("cp2");
ObjectDelete("cp3");
ObjectDelete("cp4");
ObjectDelete("cp5");
ObjectDelete("cp6");
ObjectDelete("cp7");
ObjectDelete("cp8");
ObjectDelete("cp_1");
ObjectDelete("cp_2");
ObjectDelete("cp_3");
ObjectDelete("cp_4");
ObjectDelete("cp_5");
ObjectDelete("cp_6");
ObjectDelete("cp_7");
ObjectDelete("cp_8");


//----
   return(0);
  }

double LSMA(int Rperiod, int shift)
{
   int i;
   double sum;
   int length;
   double lengthvar;
   double tmp;
   double wt;

   length = Rperiod;
 
   sum = 0;
   for(i = length; i >= 1  ; i--)
   {
     lengthvar = length + 1;
     lengthvar /= 3;
     tmp = 0;
     tmp = ( i - lengthvar)*Close[length-i+shift];
     sum+=tmp;
    }
    wt = sum*6/(length*(length+1));
    
    return(wt);
}


//+------------------------------------------------------------------+
//| Custom indicator iteration function                              |
//+------------------------------------------------------------------+
int start()
  {
   int limit;
   int counted_bars = IndicatorCounted();
   //---- check for possible errors
   if (counted_bars<0) return(-1);
   //---- last counted bar will be recounted
   if (counted_bars>0) counted_bars--;
   limit = Bars - counted_bars;

   for(int i=limit; i>=0; i--)
   {
      if (MAType == 4)
      {
        MAVal = LSMA(MAPeriod,i);
      }
      else
      {
      
        MAVal=iMA(NULL,0,MAPeriod,0,MAMode,PRICE_CLOSE,i);
      }
      ExtMapBuffer1[i] = MAVal;
   }
   Line1=MAVal+Fib1*Point;
   Line2=MAVal+Fib2*Point;
   Line3=MAVal+Fib3*Point;
   Line4=MAVal+Fib4*Point;
   Line5=MAVal+Fib5*Point;
   Line6=MAVal+Fib6*Point;
   Line7=MAVal+Fib7*Point;
   Line8=MAVal+Fib8*Point;
   Line_1=MAVal-Fib1*Point;
   Line_2=MAVal-Fib2*Point;
   Line_3=MAVal-Fib3*Point;
   Line_4=MAVal-Fib4*Point;
   Line_5=MAVal-Fib5*Point;   
   Line_6=MAVal-Fib6*Point;
   Line_7=MAVal-Fib7*Point;
   Line_8=MAVal-Fib8*Point;   
   
   if(ObjectFind("cp1") != 0)
      {
      ObjectCreate("cp1", OBJ_HLINE, 0, Time[20], Line1);
      ObjectSet("cp1", OBJPROP_STYLE, STYLE_DASHDOTDOT);
      ObjectSet("cp1", OBJPROP_COLOR, Color1);
      }
      else
      {
      ObjectMove("cp1", 0, Time[20], Line1);
      }
      
   if(ObjectFind("cp2") != 0)
      {
      ObjectCreate("cp2", OBJ_HLINE, 0, Time[20], Line2);
      ObjectSet("cp2", OBJPROP_STYLE, STYLE_DASHDOTDOT);
      ObjectSet("cp2", OBJPROP_COLOR, Color2);
      }
      else
      {
      ObjectMove("cp2", 0, Time[20], Line2);
      }
      
    if(ObjectFind("cp3") != 0)
      {
      ObjectCreate("cp3", OBJ_HLINE, 0, Time[20], Line3);
      ObjectSet("cp3", OBJPROP_STYLE, STYLE_DASHDOTDOT);
      ObjectSet("cp3", OBJPROP_COLOR, Color3);
      }
      else
      {
      ObjectMove("cp3", 0, Time[20], Line3);
      }
      
   if(ObjectFind("cp4") != 0)
      {
      ObjectCreate("cp4", OBJ_HLINE, 0, Time[20], Line4);
      ObjectSet("cp4", OBJPROP_STYLE, STYLE_DASHDOTDOT);
      ObjectSet("cp4", OBJPROP_COLOR, Color4);
      }
      else
      {
      ObjectMove("cp4", 0, Time[20], Line4);
      }
         
 
   if(ObjectFind("cp5") != 0)
      {
      ObjectCreate("cp5", OBJ_HLINE, 0, Time[20], Line5);
      ObjectSet("cp5", OBJPROP_STYLE, STYLE_DASHDOTDOT);
      ObjectSet("cp5", OBJPROP_COLOR, Color5);
      }
      else
      {
      ObjectMove("cp5", 0, Time[20], Line5);
      }
  
   if(ObjectFind("cp6") != 0)
      {
      ObjectCreate("cp6", OBJ_HLINE, 0, Time[20], Line6);
      ObjectSet("cp6", OBJPROP_STYLE, STYLE_DASHDOTDOT);
      ObjectSet("cp6", OBJPROP_COLOR, Color6);
      }
      else
      {
      ObjectMove("cp6", 0, Time[20], Line6);
      }
  
   if(ObjectFind("cp7") != 0)
      {
      ObjectCreate("cp7", OBJ_HLINE, 0, Time[20], Line7);
      ObjectSet("cp7", OBJPROP_STYLE, STYLE_DASHDOTDOT);
      ObjectSet("cp7", OBJPROP_COLOR, Color7);
      }
      else
      {
      ObjectMove("cp7", 0, Time[20], Line7);
      }

   if(ObjectFind("cp8") != 0)
      {
      ObjectCreate("cp8", OBJ_HLINE, 0, Time[20], Line8);
      ObjectSet("cp8", OBJPROP_STYLE, STYLE_DASHDOTDOT);
      ObjectSet("cp8", OBJPROP_COLOR, Color8);
      }
      else
      {
      ObjectMove("cp8", 0, Time[20], Line8);
      }
      
  if(ObjectFind("cp_1") != 0)
      {
      ObjectCreate("cp_1", OBJ_HLINE, 0, Time[20], Line_1);
      ObjectSet("cp_1", OBJPROP_STYLE, STYLE_DASHDOTDOT);
      ObjectSet("cp_1", OBJPROP_COLOR, Color1);
      }
      else
      {
      ObjectMove("cp_1", 0, Time[20], Line_1);
      }
      
   if(ObjectFind("cp_2") != 0)
      {
      ObjectCreate("cp_2", OBJ_HLINE, 0, Time[20], Line_2);
      ObjectSet("cp_2", OBJPROP_STYLE, STYLE_DASHDOTDOT);
      ObjectSet("cp_2", OBJPROP_COLOR, Color2);
      }
      else
      {
      ObjectMove("cp_2", 0, Time[20], Line_2);
      }
      
    if(ObjectFind("cp_3") != 0)
      {
      ObjectCreate("cp_3", OBJ_HLINE, 0, Time[20], Line_3);
      ObjectSet("cp_3", OBJPROP_STYLE, STYLE_DASHDOTDOT);
      ObjectSet("cp_3", OBJPROP_COLOR, Color3);
      }
      else ObjectMove("cp_3", 0, Time[20], Line_3);
      
      
   if(ObjectFind("cp_4") != 0)
      {
      ObjectCreate("cp_4", OBJ_HLINE, 0, Time[20], Line_4);
      ObjectSet("cp_4", OBJPROP_STYLE, STYLE_DASHDOTDOT);
      ObjectSet("cp_4", OBJPROP_COLOR, Color4);
      }
      else ObjectMove("cp_4", 0, Time[20], Line_4);
     
         
  
   if(ObjectFind("cp_5") != 0)
      {
      ObjectCreate("cp_5", OBJ_HLINE, 0, Time[20], Line_5);
      ObjectSet("cp_5", OBJPROP_STYLE, STYLE_DASHDOTDOT);
      ObjectSet("cp_5", OBJPROP_COLOR, Color5);
      }
      else
      {
      ObjectMove("cp_5", 0, Time[20], Line_5);
      }
   if(ObjectFind("cp_6") != 0)
      {
      ObjectCreate("cp_6", OBJ_HLINE, 0, Time[20], Line_6);
      ObjectSet("cp_6", OBJPROP_STYLE, STYLE_DASHDOTDOT);
      ObjectSet("cp_6", OBJPROP_COLOR, Color6);
      }
      else
      {
      ObjectMove("cp_6", 0, Time[20], Line_6);
      }
  
   if(ObjectFind("cp_7") != 0)
      {
      ObjectCreate("cp_7", OBJ_HLINE, 0, Time[20], Line_7);
      ObjectSet("cp_7", OBJPROP_STYLE, STYLE_DASHDOTDOT);
      ObjectSet("cp_7", OBJPROP_COLOR, Color7);
      }
      else
      {
      ObjectMove("cp_7", 0, Time[20], Line_7);
      }

   if(ObjectFind("cp_8") != 0)
      {
      ObjectCreate("cp_8", OBJ_HLINE, 0, Time[20], Line_8);
      ObjectSet("cp_8", OBJPROP_STYLE, STYLE_DASHDOTDOT);
      ObjectSet("cp_8", OBJPROP_COLOR, Color8);
      }
      else
      {
      ObjectMove("cp_8", 0, Time[20], Line_8);
      }
  
      
//----
   return(0);
  }
  
//+------------------------------------------------------------------+

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