This script is designed for the MetaTrader 4 platform to automatically calculate and display dynamic price channels based on Fibonacci levels. It essentially creates a visual "corridor" on your chart, helping traders identify potential price boundaries within specific timeframes.
Core Logic Overview
The script operates by analyzing price action over specific periods to define upper and lower bounds. Instead of simple moving averages, it uses a combination of high/low extremes and a customizable Fibonacci ratio to project these boundaries.
1. Timeframe Awareness and Delimiters
The logic is built to be "time-aware." It recognizes specific "delimiter" moments based on the timeframe you are currently viewing (e.g., the start of an hour, day, or week). When the script detects one of these significant time boundaries, it triggers a calculation to redefine the price channel for the next segment of the chart.
2. Channel Calculation
The script calculates the boundaries using three main steps:
- Extreme Identification: It looks back over a user-defined number of periods to find the highest price reached (High) and the lowest price reached (Low).
- Midpoint Reference: It determines a central value (TV) by averaging the high, the low, and the previous closing price.
- Fibonacci Projection: Using a specific ratio (defaulting to 0.786), it calculates the "MaH" (Maximum High) and "MaL" (Minimum Low). These values represent the upper and lower limits of the channel relative to that central midpoint.
3. Dynamic Movement vs. Fixed Sections
The script offers two primary ways to display this data:
- Sectional Display: By default, the indicator draws these boundaries as distinct sections. It calculates a new set of bounds every time it hits a "delimiter" (like a new trading day or hour), creating a stepped visual effect on the chart.
- Continuous Movement: If the user enables the "SetAllBars" option, the script changes its behavior. Instead of staying flat until the next delimiter, it calculates a linear progression (a "delta") between the starting point and the current bar. This creates a smoother, slanted line that bridges the gap between the calculated boundaries.
4. Real-Time Updates
The logic includes a specific routine for the "current" live candle (the zero bar). Because the current price is still moving, the script constantly refreshes the calculation for the very last bar to ensure the channel boundaries are updating in real-time as new price data flows into the platform.
Summary of Visual Output
Depending on your settings, the indicator will draw two red lines on your chart:
- MaH: The upper boundary of the Fibonacci channel.
- MaL: The lower boundary of the Fibonacci channel.
These lines provide a structured view of market volatility, showing where the price is currently "living" relative to recent historical highs and lows.
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DFC Next_v1
//+------------------------------------------------------------------------------------+
//| Din_fibo_Next.mq4 |
//| unknown author, get from kaizer, conversed by Rosh |
//| link to kaizer: http://forum.alpari-idc.ru/profile.php?mode=viewprofile&u=4196161 |
//| http://forexsystems.ru/phpBB/index.php|
//+------------------------------------------------------------------------------------+
#property copyright "unknown author, get from kaizer, conversed by Rosh"
#property link "http://fx.winm.ru/book.htm"
#property indicator_chart_window
#property indicator_buffers 2
#property indicator_color1 Red
#property indicator_color2 Red
//---- input parameters
extern int Fibo_Channel_Period=3;
extern double Ratio=0.786;
extern bool SetAllBars=false;
//---- buffers
double ExtMapBuffer1[];
double ExtMapBuffer2[];
double tvBuffer[];
int hh,ll,first,counterPeriod;
double tv,MaH,MaL;
//+------------------------------------------------------------------+
//| Ïîëó÷èì ñëåäóþùèé ïåðèîä |
//+------------------------------------------------------------------+
string GetNextPeriod(int _Period)
{
string nextPeriod="";
//----
switch (_Period)
{
case 5: nextPeriod="H1"; break;
case 15: nextPeriod="H1"; break;
case 30: nextPeriod="H4"; break;
case 60: nextPeriod="H4"; break;
case 240: nextPeriod="D1"; break;
case 1440: nextPeriod="W1"; break;
case 10080: nextPeriod="M"; break;
default: Print("Íåäîïóñòèìûé ïåðèîä!!!");
}
//----
return(nextPeriod);
}
//+------------------------------------------------------------------+
//| Ïðîâåðèì - ðàçäåëèòåëü äèàïàçîíà èëè íåò |
//+------------------------------------------------------------------+
bool isDelimeter(int _Period, int _shift)
{
bool result=false;
//----
switch (_Period)
{
case 5:result=(TimeMinute(Time[_shift])==0); break;
case 15:result=(TimeMinute(Time[_shift])==0); break;
case 30:result=(TimeMinute(Time[_shift])==0)&& MathMod(TimeHour(Time[_shift]),4.0)==0.0; break;
case 60:result=(TimeMinute(Time[_shift])==0)&& MathMod(TimeHour(Time[_shift]),4.0)==0.0;break;
case 240:result=(TimeMinute(Time[_shift])==0)&&(TimeHour(Time[_shift])==0); break;
case 1440:result=(TimeDayOfWeek(Time[_shift])==1)&&(TimeHour(Time[_shift])==0); break;
case 10080:result=(TimeDay(Time[_shift])==1)||((TimeDay(Time[_shift])==2 && TimeDay(Time[_shift+1])!=1))||((TimeDay(Time[_shift])==3 && TimeDay(Time[_shift+1])!=2)); break;
default: Print("Íåäîïóñòèìûé ïåðèîä!!!");
}
//----
return(result);
}
//+------------------------------------------------------------------+
//| Óñòàíîâèì MaH è MaL íà ãðàíèöå äèàïàçîíà |
//+------------------------------------------------------------------+
void SetHnL(int _shift)
{
//----
int i=_shift+1;
counterPeriod=0;
first=0;
while (counterPeriod<Fibo_Channel_Period)
{
while (tvBuffer[i]==0.0 && i<Bars) i++;
if (first==0) first=i;
counterPeriod++;
i++;
}
i--;
hh=Highest(NULL,0,MODE_HIGH,i-_shift,_shift+1);
ll=Lowest(NULL,0,MODE_LOW,i-_shift,_shift+1);
tv=NormalizeDouble((High[hh]+Low[ll]+Close[_shift+1])/3.0,Digits);
MaH=tv+NormalizeDouble((High[hh]-Low[ll])/2.0*Ratio,Digits);
MaL=tv-NormalizeDouble((High[hh]-Low[ll])/2.0*Ratio,Digits);
tvBuffer[_shift]=tv;
ExtMapBuffer1[_shift]=MaH;
ExtMapBuffer2[_shift]=MaL;
if (SetAllBars) SetMovingHnL(first, _shift);
//----
return;
}
//+------------------------------------------------------------------+
//| Óñòàíîâèì MaH è MaL âíóòðè äèàïàçîíà |
//+------------------------------------------------------------------+
void SetMovingHnL(int _DelimeterBar,int CurBar)
{
int m_cnt;
double deltaH,deltaL;
//----
deltaH=(ExtMapBuffer1[_DelimeterBar]-ExtMapBuffer1[CurBar])/(_DelimeterBar-CurBar);
deltaL=(ExtMapBuffer2[_DelimeterBar]-ExtMapBuffer2[CurBar])/(_DelimeterBar-CurBar);
for (m_cnt=_DelimeterBar-1;m_cnt>CurBar;m_cnt--)
{
ExtMapBuffer1[m_cnt]=ExtMapBuffer1[m_cnt+1]-deltaH;
ExtMapBuffer2[m_cnt]=ExtMapBuffer2[m_cnt+1]-deltaL;
}
for (m_cnt=_DelimeterBar-1;m_cnt>CurBar;m_cnt--)
{
ExtMapBuffer1[m_cnt]=NormalizeDouble(ExtMapBuffer1[m_cnt],Digits);
ExtMapBuffer2[m_cnt]=NormalizeDouble(ExtMapBuffer2[m_cnt],Digits);
}
//----
return;
}
//+------------------------------------------------------------------+
//| Óñòàíîâèì MaH è MaL íà ïðàâîì êðàþ |
//+------------------------------------------------------------------+
void SetValuesNullBar(int _shift)
{
//----
int i=_shift;
while (tvBuffer[i]==0.0) i++;
for (int j=i-1;j>_shift;j--)
{
ExtMapBuffer1[j]=0.0;
ExtMapBuffer2[j]=0.0;
}
first=0;
i=_shift;
counterPeriod=0;
while (counterPeriod<Fibo_Channel_Period)
{
while (tvBuffer[i]==0.0 && i<Bars) i++;
if (first==0) first=i;
counterPeriod++;
i++;
}
i--;
hh=Highest(NULL,0,MODE_HIGH,i-_shift,_shift);
ll=Lowest(NULL,0,MODE_LOW,i-_shift,_shift);
tv=NormalizeDouble((High[hh]+Low[ll]+Close[_shift])/3.0,Digits);
MaH=tv+NormalizeDouble((High[hh]-Low[ll])/2.0*Ratio,Digits);
MaL=tv-NormalizeDouble((High[hh]-Low[ll])/2.0*Ratio,Digits);
ExtMapBuffer1[_shift]=MaH;
ExtMapBuffer2[_shift]=MaL;
if (SetAllBars) SetMovingHnL(first,_shift);
//----
return;
}//-------------------------------------------------------------------+
//| Custom indicator initialization function |
//+------------------------------------------------------------------+
int init()
{
//---- indicators
IndicatorBuffers(3);
string label;
if (SetAllBars)
{
SetIndexStyle(0,DRAW_LINE);
SetIndexBuffer(0,ExtMapBuffer1);
label="DFC Next "+GetNextPeriod(Period())+"("+Fibo_Channel_Period+") MaH";
SetIndexLabel(0,label);
SetIndexEmptyValue(0,0.0);
SetIndexStyle(1,DRAW_LINE);
SetIndexBuffer(1,ExtMapBuffer2);
label="DFC Next "+GetNextPeriod(Period())+"("+Fibo_Channel_Period+") MaL";
SetIndexLabel(1,label);
SetIndexEmptyValue(1,0.0);
}
else
{
SetIndexStyle(0,DRAW_SECTION);
SetIndexBuffer(0,ExtMapBuffer1);
label="DFC Next "+GetNextPeriod(Period())+"("+Fibo_Channel_Period+") MaH";
SetIndexLabel(0,label);
SetIndexEmptyValue(0,0.0);
SetIndexStyle(1,DRAW_SECTION);
SetIndexBuffer(1,ExtMapBuffer2);
label="DFC Next "+GetNextPeriod(Period())+"("+Fibo_Channel_Period+") MaL";
SetIndexLabel(1,label);
SetIndexEmptyValue(1,0.0);
}
SetIndexBuffer(2,tvBuffer);
SetIndexEmptyValue(2,0.0);
//----
return(0);
}
//+------------------------------------------------------------------+
//| Custor indicator deinitialization function |
//+------------------------------------------------------------------+
int deinit()
{
//----
//----
return(0);
}
//+------------------------------------------------------------------+
//| Custom indicator iteration function |
//+------------------------------------------------------------------+
int start()
{
int counted_bars=IndicatorCounted();
int cnt,limit;
//----
if (Period()==10080) return;
if (counted_bars<0) return(-1);
if (counted_bars>0) limit=Bars-counted_bars;
if (counted_bars==0)
{
// íàéòè ïåðâûé è âòîðîé ðàçäåëèòåëü è óñòàíîâèòü limit
cnt=Bars-1;
while (!isDelimeter(Period(),cnt)) cnt--;
first=cnt;
cnt--;
counterPeriod=0;
while (counterPeriod<Fibo_Channel_Period)
{
while (!isDelimeter(Period(),cnt)) cnt--;
cnt--;
counterPeriod++;
}
cnt++;
hh=Highest(NULL,0,MODE_HIGH,first-cnt,cnt+1);
ll=Lowest(NULL,0,MODE_LOW,first-cnt,cnt+1);
tv=NormalizeDouble((High[hh]+Low[ll]+Close[cnt+1])/3.0,Digits);
MaH=tv+NormalizeDouble((High[hh]-Low[ll])/2.0*Ratio,Digits);
MaL=tv-NormalizeDouble((High[hh]-Low[ll])/2.0*Ratio,Digits);
tvBuffer[cnt]=tv;
ExtMapBuffer1[cnt]=MaH;
ExtMapBuffer2[cnt]=MaL;
limit=cnt-1;
}
//----
for (int shift=limit;shift>=0;shift--)
{
if (isDelimeter(Period(),shift)) SetHnL(shift);// else SetMovingHnL(shift);
if (shift==0) SetValuesNullBar(shift);
}
return(0);
}
//+------------------------------------------------------------------+
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