DinapoliTargets_v4
Download script
This script is designed to analyze historical price movements on a trading chart to identify significant structural trends and automatically project potential price targets. Rather than relying on simple moving averages, it focuses on the "geometry" of the market by identifying high and low price points over a specific period.
Core Logic and Workflow
1. Market Structure Identification The script scans back through historical data to find "Swing Points." It looks for specific moments where the price reverses direction—identifying local peaks (highs) and valleys (lows). By scanning these points, it builds a sequence of structural milestones that define the current market path.
2. Identifying Key Price Points The logic specifically isolates the most recent significant movements to establish three primary reference points:
- Point A: A previous significant structural high or low.
- Point B: The subsequent structural peak/valley.
- Point C: The most recent price action point.
These three points are used to determine the "swing" or the momentum of the current market trend.
3. Mathematical Projections (Targets) Once the script identifies the distance and direction between Points A, B, and C, it applies various mathematical ratios to project where the price might head next. It calculates several levels:
- Primary Targets: These are calculated using specific growth factors (like 0.618 and 1.618) based on the magnitude of the move between Point A and Point B.
- Extended Targets: The logic also generates "Fantasy" and "Crazy Dream" levels, which project much further extensions if the current momentum continues aggressively.
4. Entry and Exit Visualization Based on whether the market is currently in an uptrend or a downtrend (determined by comparing Point B to Point C), the script automatically calculates:
- Start Line: A suggested entry level based on a specific percentage of the trend's move.
- Stop Line: A safety exit point designed to protect capital, placed at a calculated distance from the current price.
Visual Output
The script translates all this mathematical logic into visual aids directly on your chart:
- It draws horizontal dotted lines representing your Start (Entry), Stop (Exit), and three different Target levels.
- Each target is color-coded (Green, Yellow, and Dark Orchid) to help you quickly distinguish between conservative goals and more ambitious price extensions.
- It also displays the numerical values of the three main reference points in a comment area on the chart for easy tracking.
14
Views
0
Downloads
0
Favorites
DinapoliTargets_v4
//+------------------------------------------------------------------+
//| DinapoliTargets.mq4 |
//| mishanya_fx@yahoo.com |
//| |
//+------------------------------------------------------------------+
#property copyright "mishanya"
#property link "mishanya_fx@yahoo.com"
//----
#property indicator_chart_window
#property indicator_buffers 1
#property indicator_color1 Blue
//---- input parameters
extern int barn=300;
extern int Length=6;
//---- buffers
double ExtMapBuffer1[];
//double ExtMapBuffer2[];
//+------------------------------------------------------------------+
//| Custom indicator initialization function |
//+------------------------------------------------------------------+
int init()
{
//---- indicators
SetIndexEmptyValue(0,0.0);
//SetIndexDrawBegin(0, barn);
//SetIndexStyle(0,DRAW_SECTION);
SetIndexBuffer(0,ExtMapBuffer1);
//----
return(0);
}
//+------------------------------------------------------------------+
//| Custor indicator deinitialization function |
//+------------------------------------------------------------------+
int deinit()
{
ObjectDelete("Start line");
ObjectDelete("Stop line");
ObjectDelete("Target1 line");
ObjectDelete("Target2 line");
ObjectDelete("Target3 line");
return(0);
}
//+------------------------------------------------------------------+
//| Custom indicator iteration function |
//+------------------------------------------------------------------+
int start()
{
int counted_bars=IndicatorCounted();
int shift,Swing,Swing_n,uzl,i,zu,zd,mv;
double PointA,PointB,PointC,Target1,Target2,Target3,Fantnsy,CrazyDream,Start,Stop;
double LL,HH,BH,BL,NH,NL;
double Uzel[10000][3];
string text;
// loop from first bar to current bar (with shift=0)
Swing_n=0;Swing=0;uzl=0;
BH =High[barn];BL=Low[barn];zu=barn;zd=barn;
//----
for(shift=barn;shift>=0;shift--)
{
LL=10000000;HH=-100000000;
for(i=shift+Length;i>=shift+1;i--)
{
if (Low[i]< LL) {LL=Low[i];}
if (High[i]>HH) {HH=High[i];}
}
if (Low[shift]<LL && High[shift]>HH)
{
Swing=2;
if (Swing_n==1) {zu=shift+1;}
if (Swing_n==-1) {zd=shift+1;}
}
else
{
if (Low[shift]<LL) {Swing=-1;}
if (High[shift]>HH) {Swing=1;}
}
if (Swing!=Swing_n && Swing_n!=0)
{
if (Swing==2)
{
Swing=-Swing_n;BH=High[shift];BL=Low[shift];
}
uzl=uzl+1;
if (Swing==1)
{
Uzel[uzl][1]=zd;
Uzel[uzl][2]=BL;
}
if (Swing==-1)
{
Uzel[uzl][1]=zu;
Uzel[uzl][2]=BH;
}
BH=High[shift];
BL=Low[shift];
}
if (Swing==1)
{
if (High[shift]>=BH) {BH=High[shift];zu=shift;}
}
if (Swing==-1)
{
if (Low[shift]<=BL) {BL=Low[shift]; zd=shift;}
}
Swing_n=Swing;
}
for(i=1;i<=uzl;i++)
{
//text=DoubleToStr(Uzel[i][1],0);
//text=;
mv=StrToInteger(DoubleToStr(Uzel[i][1],0));
//ExtMapBuffer1[mv]=Uzel[i][2];
}
PointA=Uzel[uzl-2][2];
PointB=Uzel[uzl-1][2];
PointC=Uzel[uzl][2];
//----
Comment(PointA," ",PointB," ",PointC);
//----
Target1=NormalizeDouble((PointB-PointA)*0.618+PointC,4);
Target2=PointB-PointA+PointC;
Target3=NormalizeDouble((PointB-PointA)*1.618+PointC,4);
Fantnsy=NormalizeDouble((PointB-PointA)*2.618+PointC,4);
CrazyDream=NormalizeDouble((PointB-PointA)*4.618+PointC,4);
if (PointB<PointC)
{
Start= NormalizeDouble((PointB-PointA)*0.318+PointC,4)-(Ask-Bid);
Stop=PointC+2*(Ask-Bid);
}
if (PointB>PointC)
{
Start= NormalizeDouble((PointB-PointA)*0.318+PointC,4)+(Ask-Bid);
Stop=PointC-2*(Ask-Bid);
}
if (ObjectFind("Start Line")!=0)
{
ObjectCreate("Start line",OBJ_HLINE,0,Time[0],Start);
ObjectSet("Start line",OBJPROP_COLOR,Honeydew);
ObjectSet("Start line",OBJPROP_WIDTH,1);
ObjectSet("Start line",OBJPROP_STYLE,STYLE_DOT);
}
else
{
ObjectMove("Start line", 0,Time[0],Start);
}
if (ObjectFind("Stop Line")!=0)
{
ObjectCreate("Stop line",OBJ_HLINE,0,Time[0],Stop);
ObjectSet("Stop line",OBJPROP_COLOR,Red);
ObjectSet("Stop line",OBJPROP_WIDTH,1);
ObjectSet("Stop line",OBJPROP_STYLE,STYLE_DOT);
}
else
{
ObjectMove("Stop line", 0,Time[0],Stop);
}
if (ObjectFind("Target1 Line")!=0)
{
ObjectCreate("Target1 line",OBJ_HLINE,0,Time[0],Target1);
ObjectSet("Target1 line",OBJPROP_COLOR,Green);
ObjectSet("Target1 line",OBJPROP_WIDTH,1);
ObjectSet("Target1 line",OBJPROP_STYLE,STYLE_DOT);
}
else
{
ObjectMove("Target1 line", 0,Time[0],Target1);
}
if (ObjectFind("Target2 Line")!=0)
{
ObjectCreate("Target2 line",OBJ_HLINE,0,Time[0],Target2);
ObjectSet("Target2 line",OBJPROP_COLOR,Yellow);
ObjectSet("Target2 line",OBJPROP_WIDTH,1);
ObjectSet("Target2 line",OBJPROP_STYLE,STYLE_DOT);
}
else
{
ObjectMove("Target2 line", 0,Time[0],Target2);
}
if (ObjectFind("Target3 Line")!=0)
{
ObjectCreate("Target3 line",OBJ_HLINE,0,Time[0],Target3);
ObjectSet("Target3 line",OBJPROP_COLOR,DarkOrchid);
ObjectSet("Target3 line",OBJPROP_WIDTH,1);
ObjectSet("Target3 line",OBJPROP_STYLE,STYLE_DOT);
}
else
{
ObjectMove("Target3 line", 0,Time[0],Target3);
}
return(0);
}
//+------------------------------------------------------------------+
Comments