Ind-Murrey_Math_MT4_VG-1

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Author: Vladislav Goshkov (VG).
Ind-Murrey_Math_MT4_VG-1

This script is designed to provide a visual framework of market structure by identifying and plotting specific price levels based on the Murrey Math Lines theory. Unlike standard moving averages that follow price, this tool creates a "map" of potential support and resistance zones using mathematical proportions.

Core Logic Overview

The logic follows a step-by-step process to determine where the market is currently positioned within its larger trading range:

1. Identifying the Trading Range The script first looks back at a specific number of historical bars (defined by the user) to find the absolute highest and lowest prices reached. This establishes the "boundaries" of the current trading environment.

2. Fractal Scaling Because financial markets can move in different scales (pips, points, or large price values), the script employs a "fractal" calculation. It automatically adjusts its mathematical sensitivity based on the magnitude of the current price. This ensures that the support and resistance lines remain relevant whether you are trading a low-value currency pair or a high-value asset.

3. Octave Calculation The tool divides the identified trading range into "Octaves." In this system, an octave represents a specific mathematical proportion of the total range. The script calculates the most appropriate octave for the current price action to determine the "base" and "ceiling" of the current movement.

4. Pivot Point Detection (X-Coordinates) The logic then scans the price action within that range to identify specific "pivot points" (labeled as x1 through x6 in the logic). It looks for specific mathematical conditions where price has stalled or reversed. If these conditions are met, it validates a specific level as a significant point of interest.

5. Level Mapping (Y-Coordinates) Once the pivots are confirmed, the script assigns them to specific heights within the trading range. These result in a series of 13 distinct horizontal levels. These levels are categorized into different "zones," such as:

  • Support/Resistance Levels: The primary boundaries of the current range.
  • Premium/Discount Zones: Areas where price may be considered "expensive" or "cheap."
  • Oversold/Overbought Extremes: Levels that indicate the market has stretched significantly beyond normal bounds and may be due for a reversal.

Visual Output

The final result is a series of horizontal lines plotted on your chart. Each line is associated with a specific label (e.g., [4/8]P, [0/8]P) that describes the psychological state of the market at that price level. This allows a trader to see at a glance whether the current price is sitting in a "stable" middle zone, approaching a major resistance wall, or entering an extreme overbought/oversold territory.

Miscellaneous
Implements a curve of type %1
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Ind-Murrey_Math_MT4_VG-1 
//+------------------------------------------------------------------+
//|                                     Ind-Murrey_Math_MT4_VG-1.mq4 |
//|                            Copyright © 2005, Kara Software Corp. |
//|                                                                  |
//+------------------------------------------------------------------+
#property copyright "Vladislav Goshkov (VG)."
#property link      "4vg@mail.ru"

#property indicator_chart_window
#property indicator_buffers 8
#property indicator_color1 DarkBlue
#property indicator_color2 Aqua
#property indicator_color3 DarkGreen
#property indicator_color4 Blue
#property indicator_color5 DarkGreen
#property indicator_color6 Red
#property indicator_color7 Aqua
#property indicator_color8 DarkBlue
//---- input parameters
extern int P = 64;
extern int StepBack = 0;
extern int Bar = 1000;
//---- buffers
double ExtMapBuffer1[];
double ExtMapBuffer2[];
double ExtMapBuffer3[];
double ExtMapBuffer4[];
double ExtMapBuffer5[];
double ExtMapBuffer6[];
double ExtMapBuffer7[];
double ExtMapBuffer8[];
//+------------------------------------------------------------------+
double  dmml = 0,
        dvtl = 0,
        sum  = 0,
        v1 = 0,
        v2 = 0,
        mn = 0,
        mx = 0,
        x1 = 0,
        x2 = 0,
        x3 = 0,
        x4 = 0,
        x5 = 0,
        x6 = 0,
        y1 = 0,
        y2 = 0,
        y3 = 0,
        y4 = 0,
        y5 = 0,
        y6 = 0,
        octave = 0,
        fractal = 0,
        range   = 0,
        finalH  = 0,
        finalL  = 0,
        mml[13];

string  ln_txt[13],        
        buff_str = "";
        
int     
        bn_v1   = 0,
        bn_v2   = 0,
        OctLinesCnt = 13,
        mml_thk = 8,
        mml_clr[13],
        mml_shft = 3,
        nTime = 0,
        CurPeriod = 0,
        nDigits = 0,
        i = 0;
//------------------------------------------------------------------
int init()
  {
//---- indicators
   SetIndexStyle(0,DRAW_LINE);
   SetIndexBuffer(0,ExtMapBuffer1);
   SetIndexStyle(1,DRAW_LINE);
   SetIndexBuffer(1,ExtMapBuffer2);
   SetIndexStyle(2,DRAW_LINE);
   SetIndexBuffer(2,ExtMapBuffer3);
   SetIndexStyle(3,DRAW_LINE);
   SetIndexBuffer(3,ExtMapBuffer4);
   SetIndexStyle(4,DRAW_LINE);
   SetIndexBuffer(4,ExtMapBuffer5);
   SetIndexStyle(5,DRAW_LINE);
   SetIndexBuffer(5,ExtMapBuffer6);
   SetIndexStyle(6,DRAW_LINE);
   SetIndexBuffer(6,ExtMapBuffer7);
   SetIndexStyle(7,DRAW_LINE);
   SetIndexBuffer(7,ExtMapBuffer8);
//---- indicators
   
   ln_txt[0]  = "[-2/8]P";// "extremely overshoot [-2/8]";// [-2/8]
   ln_txt[1]  = "[-1/8]P";// "overshoot [-1/8]";// [-1/8]
   ln_txt[2]  = "[0/8]P";// "Ultimate Support - extremely oversold [0/8]";// [0/8]
   ln_txt[3]  = "[1/8]P";// "Weak, Stall and Reverse - [1/8]";// [1/8]
   ln_txt[4]  = "[2/8]P";// "Pivot, Reverse - major [2/8]";// [2/8]
   ln_txt[5]  = "[3/8]P";// "Bottom of Trading Range - [3/8], if 10-12 bars then 40% Time. BUY Premium Zone";//[3/8]
   ln_txt[6]  = "[4/8]P";// "Major Support/Resistance Pivotal Point [4/8]- Best New BUY or SELL level";// [4/8]
   ln_txt[7]  = "[5/8]P";// "Top of Trading Range - [5/8], if 10-12 bars then 40% Time. SELL Premium Zone";//[5/8]
   ln_txt[8]  = "[6/8]P";// "Pivot, Reverse - major [6/8]";// [6/8]
   ln_txt[9]  = "[7/8]P";// "Weak, Stall and Reverse - [7/8]";// [7/8]
   ln_txt[10] = "[8/8]P";// "Ultimate Resistance - extremely overbought [8/8]";// [8/8]
   ln_txt[11] = "[+1/8]P";// "overshoot [+1/8]";// [+1/8]
   ln_txt[12] = "[+2/8]P";// "extremely overshoot [+2/8]";// [+2/8]

   mml_shft = 3;
   mml_thk  = 3;

   // Íà÷àëüíàÿ óñòàíîâêà öâåòîâ óðîâíåé îêòàâ 
   mml_clr[0]  = DarkBlue;    // [-2]/8
   mml_clr[1]  = DarkViolet;  // [-1]/8
   mml_clr[2]  = Aqua;        //  [0]/8
   mml_clr[3]  = Yellow;      //  [1]/8
   mml_clr[4]  = Red;         //  [2]/8
   mml_clr[5]  = DarkGreen;   //  [3]/8
   mml_clr[6]  = Blue;        //  [4]/8
   mml_clr[7]  = DarkGreen;   //  [5]/8
   mml_clr[8]  = Red;         //  [6]/8
   mml_clr[9]  = Yellow;      //  [7]/8
   mml_clr[10] = Aqua;        //  [8]/8
   mml_clr[11] = DarkViolet;  // [+1]/8
   mml_clr[12] = DarkBlue;    // [+2]/8
//----
   return(0);
  }
int deinit() {
//---- TODO: add your code here
Comment(" ");   
for(i=0;i<OctLinesCnt;i++) {
    buff_str = "mml"+i;
    ObjectDelete(buff_str);
    buff_str = "mml_txt"+i;
    ObjectDelete(buff_str);
    }
//----
   return(0);
  }
//======================================================================
int MyFunc(int shift)
{
 if( (nTime != Time[shift]) || (CurPeriod != Period()) ) {
   
  //price
   bn_v1 = Lowest(NULL,0,MODE_LOW,P+StepBack,shift);
   bn_v2 = Highest(NULL,0,MODE_HIGH,P+StepBack,shift);

   v1 = Low[bn_v1];
   v2 = High[bn_v2];

//determine fractal.....
   if( v2<=250000 && v2>25000 )
   fractal=100000;
   else
     if( v2<=25000 && v2>2500 )
     fractal=10000;
     else
       if( v2<=2500 && v2>250 )
       fractal=1000;
       else
         if( v2<=250 && v2>25 )
         fractal=100;
         else
           if( v2<=25 && v2>12.5 )
           fractal=12.5;
           else
             if( v2<=12.5 && v2>6.25)
             fractal=12.5;
             else
               if( v2<=6.25 && v2>3.125 )
               fractal=6.25;
               else
                 if( v2<=3.125 && v2>1.5625 )
                 fractal=3.125;
                 else
                   if( v2<=1.5625 && v2>0.390625 )
                   fractal=1.5625;
                   else
                     if( v2<=0.390625 && v2>0)
                     fractal=0.1953125;
      
   range=(v2-v1);
   sum=MathFloor(MathLog(fractal/range)/MathLog(2));
   octave=fractal*(MathPow(0.5,sum));
   mn=MathFloor(v1/octave)*octave;
   if( (mn+octave)>v2 )
   mx=mn+octave; 
   else
     mx=mn+(2*octave);


// calculating xx
//x2
    if( (v1>=(3*(mx-mn)/16+mn)) && (v2<=(9*(mx-mn)/16+mn)) )
    x2=mn+(mx-mn)/2; 
    else x2=0;
//x1
    if( (v1>=(mn-(mx-mn)/8))&& (v2<=(5*(mx-mn)/8+mn)) && (x2==0) )
    x1=mn+(mx-mn)/2; 
    else x1=0;

//x4
    if( (v1>=(mn+7*(mx-mn)/16))&& (v2<=(13*(mx-mn)/16+mn)) )
    x4=mn+3*(mx-mn)/4; 
    else x4=0;

//x5
    if( (v1>=(mn+3*(mx-mn)/8))&& (v2<=(9*(mx-mn)/8+mn))&& (x4==0) )
    x5=mx; 
    else  x5=0;

//x3
    if( (v1>=(mn+(mx-mn)/8))&& (v2<=(7*(mx-mn)/8+mn))&& (x1==0) && (x2==0) && (x4==0) && (x5==0) )
    x3=mn+3*(mx-mn)/4; 
    else x3=0;

//x6
    if( (x1+x2+x3+x4+x5) ==0 )
    x6=mx; 
    else x6=0;

     finalH = x1+x2+x3+x4+x5+x6;
// calculating yy
//y1
    if( x1>0 )
    y1=mn; 
    else y1=0;

//y2
    if( x2>0 )
    y2=mn+(mx-mn)/4; 
    else y2=0;

//y3
    if( x3>0 )
    y3=mn+(mx-mn)/4; 
    else y3=0;

//y4
    if( x4>0 )
    y4=mn+(mx-mn)/2; 
    else y4=0;

//y5
    if( x5>0 )
    y5=mn+(mx-mn)/2; 
    else y5=0;

//y6
    if( (finalH>0) && ((y1+y2+y3+y4+y5)==0) )
    y6=mn; 
    else y6=0;

    finalL = y1+y2+y3+y4+y5+y6;

    for( i=0; i<OctLinesCnt; i++) {
         mml[i] = 0;
         }
         
   dmml = (finalH-finalL)/8;

   mml[0] =(finalL-dmml*2); //-2/8
   for( i=1; i<OctLinesCnt; i++) {
        mml[i] = mml[i-1] + dmml;
        }
   for( i=0; i<OctLinesCnt; i++ ){
        buff_str = "mml"+i;
        if(i==0)ExtMapBuffer1[shift]=mml[i];
        if(i==2)ExtMapBuffer2[shift]=mml[i];
        if(i==5)ExtMapBuffer3[shift]=mml[i];          
        if(i==6)ExtMapBuffer4[shift]=mml[i];
        if(i==7)ExtMapBuffer5[shift]=mml[i];
        if(i==8)ExtMapBuffer6[shift]=mml[i];
        if(i==10)ExtMapBuffer7[shift]=mml[i];
        if(i==12)ExtMapBuffer8[shift]=mml[i];
  //      if(ObjectFind(buff_str) == -1) {
  //         ObjectCreate(buff_str, OBJ_HLINE, 0, Time[shift], mml[i]);
  //         ObjectSet(buff_str, OBJPROP_STYLE, STYLE_SOLID);
  //         ObjectSet(buff_str, OBJPROP_COLOR, mml_clr[i]);
  //         ObjectMove(buff_str, 0, Time[shift],  mml[i]);
  //         }
  //      else {
  //         ObjectMove(buff_str, 0, Time[shift],  mml[i]);
  //         }
             
        buff_str = "mml_txt"+i;
        if(ObjectFind(buff_str) == -1) {
           ObjectCreate(buff_str, OBJ_TEXT, 0, Time[mml_shft], mml_shft);
           ObjectSetText(buff_str, ln_txt[i], 8, "Arial", mml_clr[i]);
           ObjectMove(buff_str, 0, Time[mml_shft],  mml[i]);
           }
        else {
           ObjectMove(buff_str, 0, Time[mml_shft],  mml[i]);
           }
        } // for( i=1; i<=OctLinesCnt; i++ ){

   nTime    = Time[shift];
   CurPeriod= Period();

   }

}
//------------------------------------------------------------------------
int start() {

//---- TODO: add your code here

 for(int i=Bar;i>=0;i--)
    {
     MyFunc(i);
    }

//---- End Of Program
  return(0);
  }
//+------------------------------------------------------------------+

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