i_DCG_Camarilla_v1
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This script is a specialized technical analysis tool designed for the MetaTrader platform to identify key price levels on a trading chart. It automates the calculation of "Camarilla" pivot points, which are used by traders to determine potential support and resistance zones throughout a trading session.
How the Logic Works
The script operates by analyzing historical price data—specifically the highest highs and lowest lows—to project seven distinct horizontal levels on your chart. Here is a breakdown of how it processes this information:
1. Data Collection The tool continuously monitors the "High" and "Low" prices of the market. It tracks these values to establish the total price range (the distance between the highest and lowest points) covered during a specific period.
2. Daily Transition Detection The script is programmed to recognize when a new trading day begins. Whenever it detects a change in the calendar day, it performs its core calculations using the price data gathered from the previous day.
3. Pivot Point Calculations Once a day change is identified, the script calculates several specific levels based on the previous day's range and the final closing price:
- The Pivot (P): The central equilibrium point of the price movement.
- H2 & L2 Levels: These represent primary resistance and support zones.
- H3 & L3 Levels: These indicate secondary, more significant price boundaries.
- H4 & L4 Levels: These are the outer "breakout" levels, representing the extreme reaches of the expected price action.
4. Visual Output After performing these calculations, the script draws horizontal lines on your chart for every calculated level. It also places text labels (such as H2, L3, etc.) directly on the lines so you can easily identify which price boundary you are looking at.
Summary of Use
Essentially, this tool removes the manual math required to find Camarilla levels. Instead of calculating these figures yourself, the script automatically updates your chart with a visual "roadmap" of where the price might face pressure (resistance) or find a floor (support) based on previous daily volatility.
/*-----------------------------+
| |
| Shared by www.Aptrafx.com |
| |
+------------------------------*/
/*+------------------------------------------------------------------+
| FileName: i_DCG_Camarilla.mq4
| Author: Copyright © 2005, Fermin Da Costa Gomez
| Version : 01 (Inital code)
|
+------------------------------------------------------------------+*/
#property copyright "Copyright © 2005, Fermin Da Costa Gomez"
#property link "http://forex.viahetweb.nl"
#property indicator_chart_window
#property indicator_buffers 7
#property indicator_color1 Aqua
#property indicator_color2 Yellow
#property indicator_color3 Yellow
#property indicator_color4 OrangeRed
#property indicator_color5 OrangeRed
#property indicator_color6 LawnGreen
#property indicator_color7 LawnGreen
//---- input parameters
//---- buffers
double PBuffer[];
double H4Buffer[];
double H3Buffer[];
double H2Buffer[];
double L2Buffer[];
double L3Buffer[];
double L4Buffer[];
string Pivot="Pivot",sL2="L2", sH2="H2";
string sL3="L3", sH3="H3", sL4="L4", sH4="H4";
int fontsize=10;
double P, L2, L3, L4, H2, H3, H4;
double LastHigh,LastLow,x;
double D1=0.091667;
double D2=0.183333;
double D3=0.2750;
double D4=0.55;
//+------------------------------------------------------------------+
//| Custor indicator deinitialization function |
//+------------------------------------------------------------------+
int deinit()
{
//---- TODO: add your code here
ObjectDelete("Pivot");
ObjectDelete("L2");
ObjectDelete("H2");
ObjectDelete("L3");
ObjectDelete("H3");
ObjectDelete("L4");
ObjectDelete("H4");
//----
return(0);
}
//+------------------------------------------------------------------+
//| Custom indicator initialization function |
//+------------------------------------------------------------------+
int init()
{
string short_name;
//---- indicator line
SetIndexStyle(0,DRAW_LINE, 0, 2);
SetIndexStyle(1,DRAW_LINE);
SetIndexStyle(2,DRAW_LINE);
SetIndexStyle(3,DRAW_LINE);
SetIndexStyle(4,DRAW_LINE);
SetIndexStyle(5,DRAW_LINE);
SetIndexStyle(6,DRAW_LINE);
SetIndexBuffer(0, PBuffer);
SetIndexBuffer(1, L2Buffer);
SetIndexBuffer(2, H2Buffer);
SetIndexBuffer(3, L3Buffer);
SetIndexBuffer(4, H3Buffer);
SetIndexBuffer(5, L4Buffer);
SetIndexBuffer(6, H4Buffer);
//---- name for DataWindow and indicator subwindow label
short_name="Camarilla levels";
IndicatorShortName(short_name);
SetIndexLabel(0, short_name);
//----
SetIndexDrawBegin(0,1);
//----
//----
return(0);
}
//+------------------------------------------------------------------+
//| Custom indicator iteration function |
//+------------------------------------------------------------------+
int start()
{
int counted_bars=IndicatorCounted();
int limit, i;
//---- indicator calculation
if (counted_bars==0)
{
x=Period();
if (x>240) return(-1);
ObjectCreate("L2", OBJ_TEXT, 0, 0, 0);
ObjectSetText("L2", " L-2",fontsize,"Arial", White);
ObjectCreate("H2", OBJ_TEXT, 0, 0, 0);
ObjectSetText("H2", " H-2",fontsize,"Arial", White);
ObjectCreate("L3", OBJ_TEXT, 0, 0, 0);
ObjectSetText("L3", " L-3",fontsize,"Arial", White);
ObjectCreate("H3", OBJ_TEXT, 0, 0, 0);
ObjectSetText("H3", " H-3",fontsize,"Arial", White);
ObjectCreate("L4", OBJ_TEXT, 0, 0, 0);
ObjectSetText("L4", " L-4",fontsize,"Arial", White);
ObjectCreate("H4", OBJ_TEXT, 0, 0, 0);
ObjectSetText("H4", " H-4",fontsize,"Arial", White);
}
if(counted_bars<0) return(-1);
//---- last counted bar will be recounted
// if(counted_bars>0) counted_bars--;
limit=(Bars-counted_bars)-1;
for (i=limit; i>=0;i--)
{
if (High[i+1]>LastHigh) LastHigh=High[i+1];
if (Low[i+1]<LastLow) LastLow=Low[i+1];
if (TimeDay(Time[i])!=TimeDay(Time[i+1]))
{
P=(LastHigh+LastLow+Close[i+1])/3;
H2 = (LastHigh - LastLow)*D2 +Close[i+1];
L2 = Close[i+1] - (LastHigh - LastLow)*D2;
H3 = (LastHigh - LastLow)*D3 +Close[i+1];
L3 = Close[i+1] - (LastHigh - LastLow)*D3;
H4 = (LastHigh-LastLow)*D4 + Close[i+1];
L4 = Close[i+1] - (LastHigh-LastLow)*D4;
LastLow=Open[i];
LastHigh=Open[i];
ObjectMove("Pivot", 0, Time[i],P);
ObjectMove("L2", 0, Time[i], L2);
ObjectMove("H2", 0, Time[i], H2);
ObjectMove("L3", 0, Time[i], L3);
ObjectMove("H3", 0, Time[i], H3);
ObjectMove("L4", 0, Time[i], L4);
ObjectMove("H4", 0, Time[i], H4);
}
PBuffer[i]=P;
L2Buffer[i]=L2;
L3Buffer[i]=L3;
L4Buffer[i]=L4;
H2Buffer[i]=H2;
H3Buffer[i]=H3;
H4Buffer[i]=H4;
}
//----
return(0);
}
//+------------------------------------------------------------------+
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