^Dyn_AllLevels
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This script is designed to automatically calculate and display key price levels—specifically Pivot Points—on a trading chart. It helps traders identify potential support and resistance zones based on the price action of previous trading sessions.
Core Functionality
The primary purpose of this tool is to map out significant price benchmarks for each day. It identifies the high, low, and closing prices from completed historical data to project four distinct levels onto your current chart: two upper resistance levels and two lower support levels, along with a central Pivot Point.
How the Logic Works
The script follows a structured process to ensure the data remains accurate as new trading days begin:
- Time Detection: The tool constantly monitors the chart to detect when a new day starts. This allows it to switch from "reading" the previous day's data to "plotting" the current day's levels.
- Data Gathering: Once a new day is identified, the script looks back at the entirety of the previous day's price movement. It specifically captures the highest price reached (High) and the lowest price hit (Low).
- Dynamic Calculation: Based on these extremes and the closing price of the previous day, it calculates the Pivot Point (FP). The user can choose between two different mathematical formulas to determine how much weight to give the previous close versus the high/low range.
- Support and Resistance Mapping: Using the Pivot Point as a base, the script then generates:
- Resistance Levels (FR1 & FR2): Projected levels above the pivot where price may face selling pressure.
- Support Levels (FS1 & FS2): Projected levels below the pivot where price may find buying interest.
- Real-Time Adjustment: The script includes a specific logic for "Null Bars" and current candle processing. This ensures that as the current day progresses, the lines remain clean and do not create visual clutter or incorrect data points until the period is finalized.
Technical Constraints
To maintain accuracy, the script is optimized to run effectively on lower timeframes (specifically those 4 hours or less). It is designed to automatically refresh its calculations every time a new candle is formed, ensuring that your support and resistance lines are always up-to-date with the latest market data.
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^Dyn_AllLevels
//+------------------------------------------------------------------+
//| ^Dyn_Pivot.mq4 |
//| Modest, Rosh conversed only |
//| http://forexsystems.ru/phpBB/index.php |
//+------------------------------------------------------------------+
#property copyright "Modest, Rosh conversed only"
#property link "http://forexsystems.ru/phpBB/index.php"
#property indicator_chart_window
#property indicator_buffers 5
#property indicator_color1 Blue
#property indicator_color2 Red
#property indicator_color3 LightBlue
#property indicator_color4 Magenta
#property indicator_color5 DarkGreen
//---- input parameters
extern int Formula=0;
int i=1,shift;
double FP=0.0;
double FH=0.0, FL=0.0;
bool result;
//---- buffers
double ExtMapBuffer1[];
double FR1Buffer[];
double FS1Buffer[];
double FR2Buffer[];
double FS2Buffer[];
//+------------------------------------------------------------------+
//| Ïðîâåðêà íîâîãî äíÿ |
//+------------------------------------------------------------------+
bool isNewDay(int _shift)
{
//----
result=false;
if ( (TimeHour(Time[_shift])==0) && (TimeMinute(Time[_shift])==0) ) result=true;
//Print("Äàòà=",TimeToStr(Time[_shift])," isNewDay=",result);
//----
return(result);
}
//+------------------------------------------------------------------+
//| Óñòàíîâèòü óðîâíè FP, FR1,FS1,FR2 è FS2 ïðîøåäøåãî äíÿ |
//+------------------------------------------------------------------+
void SetLevels(int _shift)
{
int prevDay=TimeDay(Time[_shift+1]);
//----
i=1;
while (TimeDay(Time[_shift+i])==prevDay) i++;
i--;
FH=High[Highest(NULL,0,MODE_HIGH,i,_shift+1)];
FL=Low[Lowest(NULL,0,MODE_LOW,i,_shift+1)];
if (Formula==0) FP=NormalizeDouble((FH+FL+Close[_shift+1])/3.0,Digits); else FP=NormalizeDouble((FH+FL+2*Close[_shift+1])/4.0,Digits);
//----
ExtMapBuffer1[_shift]=FP;
FR1Buffer[_shift]=NormalizeDouble(FP+(FP-FL),Digits);
FS1Buffer[_shift]=NormalizeDouble(FP-(FH-FP),Digits);
FR2Buffer[_shift]=NormalizeDouble(FP+(FH-FL),Digits);
FS2Buffer[_shift]=NormalizeDouble(FP-(FH-FL),Digits);
}
//+------------------------------------------------------------------+
//| Óñòàíîâèòü óðîâíè FP, FR1,FS1,FR2 è FS2 â íîëü |
//+------------------------------------------------------------------+
void SetLevelsEmpty(int _shift)
{
ExtMapBuffer1[_shift]=0.0;
FR1Buffer[_shift]=0.0;
FS1Buffer[_shift]=0.0;
FR2Buffer[_shift]=0.0;
FS2Buffer[_shift]=0.0;
}
//+------------------------------------------------------------------+
//| Óñòàíîâêà óðîâíåé â íóëåâîì áàðå |
//+------------------------------------------------------------------+
void SetNullBarLevels(int _shift)
{
int cnt;
int currDay=TimeDay(Time[_shift]);
//----
i=1;
while (TimeDay(Time[_shift+i])==currDay) i++;
if (i>=2)
{
i=i-2;
for (cnt=i;cnt>0;cnt--)
{
ExtMapBuffer1[shift+cnt]=0.0;
FR1Buffer[_shift]=0.0;
FS1Buffer[_shift]=0.0;
}
FH=High[Highest(NULL,0,MODE_HIGH,i+1,_shift)];
FL=Low[Lowest(NULL,0,MODE_LOW,i+1,_shift)];
if (Formula==0) FP=NormalizeDouble((FH+FL+Close[_shift+1])/3.0,Digits); else FP=NormalizeDouble((FH+FL+2*Close[_shift+1])/4.0,Digits);
ExtMapBuffer1[_shift]=FP;
FR1Buffer[_shift]=NormalizeDouble(FP+(FP-FL),Digits);
FS1Buffer[_shift]=NormalizeDouble(FP-(FH-FP),Digits);
FR2Buffer[_shift]=NormalizeDouble(FP+(FH-FL),Digits);
FS2Buffer[_shift]=NormalizeDouble(FP-(FH-FL),Digits);
}
//----
return;
}
//+------------------------------------------------------------------+
//| Custom indicator initialization function |
//+------------------------------------------------------------------+
int init()
{
//IndicatorBuffers(5);
if (Formula!=0)Formula=1;
string label1="FR1("+Formula+")";
string label2="FS1("+Formula+")";
string label3="FR2("+Formula+")";
string label4="FS2("+Formula+")";
string label5="FP("+Formula+")";
//---- indicators
SetIndexStyle(0,DRAW_SECTION);
SetIndexBuffer(0,FR1Buffer);
SetIndexEmptyValue(0,0.0);
SetIndexLabel(0,label1);
SetIndexStyle(1,DRAW_SECTION);
SetIndexBuffer(1,FS1Buffer);
SetIndexEmptyValue(1,0.0);
SetIndexLabel(1,label2);
SetIndexStyle(2,DRAW_SECTION);
SetIndexBuffer(2,FR2Buffer);
SetIndexEmptyValue(2,0.0);
SetIndexLabel(2,label3);
SetIndexStyle(3,DRAW_SECTION);
SetIndexBuffer(3,FS2Buffer);
SetIndexEmptyValue(3,0.0);
SetIndexLabel(3,label4);
SetIndexStyle(4,DRAW_SECTION);
SetIndexBuffer(4,ExtMapBuffer1);
SetIndexEmptyValue(4,0.0);
SetIndexLabel(4,label5);
//----
return(0);
}
//+------------------------------------------------------------------+
//| Custor indicator deinitialization function |
//+------------------------------------------------------------------+
int deinit()
{
//----
//----
return(0);
}
//+------------------------------------------------------------------+
//| Custom indicator iteration function |
//+------------------------------------------------------------------+
int start()
{
int limit,firstDay;
int counted_bars=IndicatorCounted();
if (counted_bars<0) return(-1);
if (counted_bars==0)
{
limit=Bars-1;
i=1;
firstDay=TimeDay(Time[limit]);
while (TimeDay(Time[limit-i])==firstDay) i++;
limit=limit-i-PERIOD_D1/Period();
}
if (counted_bars>0) limit=Bars-counted_bars;
//----
if (Period()>PERIOD_H4) return;
for (shift=limit;shift>=0;shift--)
{
if (isNewDay(shift)) SetLevels(shift); else SetLevelsEmpty(shift);
if (shift==0) SetNullBarLevels(shift);
}
//----
return(0);
}
//+------------------------------------------------------------------+
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