[INDI]_SDX-ZoneBreakout-Lud-Z1-v2_v1

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Author: Copyright Shimodax
[INDI]_SDX-ZoneBreakout-Lud-Z1-v2_v1

This script is designed to identify and visualize specific trading "breakout" opportunities on a price chart. It automates the process of finding price boundaries during certain parts of the trading day and marks potential entry points, targets, and stop-loss levels based on those boundaries.

How the Logic Works

1. Time Zone & Period Tracking The script begins by organizing the trading day into specific time windows. It looks at the market activity across three distinct periods:

  • A morning session.
  • A midday session.
  • The remainder of the trading day.

It accounts for your local time zone to ensure that these periods align correctly with your specific charts (e.g., adjusting for GMT).

2. Identifying Price Zones During the first and second periods of the day, the script monitors the highest price reached (High) and the lowest price reached (Low).

  • Once a period ends, the script "locks in" these high and low values.
  • It then projects these boundaries forward for the rest of the trading day.

3. Visualizing Trade Parameters The script draws several lines on your chart to provide a visual roadmap for potential trades:

  • Entry Levels: It creates an upper and lower boundary based on the high/low of the completed periods, adjusted by a user-defined number of pips.
  • Targets: It projects lines further out from the entry levels to show where a successful trade might reach its goal (the profit target).
  • Stop Losses: It calculates and draws "safety" lines. If the distance between the upper and lower boundaries is wide enough, it marks where a trader should exit if the price moves against them.

4. Signal Detection The script actively monitors the current price relative to these projected boundaries:

  • Breakout Alerts: If the price breaks above the upper boundary (for a potential buy) or below the lower boundary (for a potential sell), the script marks a visual signal on the chart.
  • Single Trigger Logic: The logic is designed to trigger only once per day per direction. This prevents "false" multiple signals from firing if the price fluctuates back and forth across the line repeatedly.

Summary for the User

Essentially, this tool automates the "drawing" of key levels. Instead of you having to manually find out where the price went during the morning and midday sessions, the script does that math for you. It then shows you exactly where the "breakout" points are, providing clear visual guides for your entries, profit goals, and risk management for the remainder of the day.

Miscellaneous
Implements a curve of type %1It issuies visual alerts to the screen
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[INDI]_SDX-ZoneBreakout-Lud-Z1-v2_v1 
/*-----------------------------+
|			       |
| Shared by www.Aptrafx.com    |
|			       |
+------------------------------*/


//+------------------------------------------------------------------+
//|  TZ-Breaktout-Z1.mq4                                             |
//|  Shimodax                                                        |
//|                                                                  |
//+------------------------------------------------------------------+

#property copyright "Copyright Shimodax"
#property link      "http://www.strategybuilderfx.com/forums/showthread.php?t=15439"


/* Introduction:

   Draw ranges for "Simple Combined Breakout System for EUR/USD and GBP/USD" thread
   (see http://www.strategybuilderfx.com/forums/showthread.php?t=15439)

   TimeZoneOfData: TimeZone for which MT4 shows your local time, 
                  e.g. 1 or 2 for Europe (GMT+1 or GMT+2 (daylight 
                  savings time).  Use zero for no adjustment.
                  
                  The MetaQuotes demo server uses GMT +2.   
   Enjoy  :-)
   
   Markus

*/


#property indicator_chart_window
#property indicator_buffers 8
#property indicator_color1 Red
#property indicator_color2 Orange
#property indicator_color3 Red
#property indicator_color4 Orange
#property indicator_color5 Red
#property indicator_color6 Orange
#property indicator_color7 Gold
#property indicator_color8 Gold


extern bool DoEntryAlerts= false;
extern int TimeZoneOfData= 3;  // time zone of metatrader charts
extern int PipsForEntry= 5;
extern int PipsTarget = 80;
extern int PipsStop= 50;
extern int ShowTarget= 1;
extern int ShowStop= 1;

int DestTimeZone= 0;   // dest time zone for time computation (leave as zero (GMT))




double Zone1Upper[];
double Zone1Lower[];
double Zone1UpperTarget[];
double Zone1LowerTarget[];
double Zone1UpperStop[];
double Zone1LowerStop[];
double EntryUpperSignalsBuffer[];
double EntryLowerSignalsBuffer[];
bool Zone1UpperBreakout=False;
bool Zone1LowerBreakout=False;




//+------------------------------------------------------------------+
//| Custom indicator initialization function                         |
//+------------------------------------------------------------------+
int init()
{
   SetIndexStyle(0,DRAW_LINE);
   SetIndexBuffer(0,Zone1Upper);
   SetIndexEmptyValue(0, 0.0);
	SetIndexLabel(0, "Z1 Upper");

   SetIndexStyle(1,DRAW_LINE);
   SetIndexBuffer(1,Zone1Lower);
   SetIndexEmptyValue(1, 0.0);
   SetIndexLabel(1, "Z1 Lower");

   SetIndexStyle(2,DRAW_LINE, STYLE_DASH, 1);
   SetIndexBuffer(2,Zone1UpperTarget);
   SetIndexEmptyValue(2, 0.0);
	SetIndexLabel(2, "Z1 Upper Target");

   SetIndexStyle(3,DRAW_LINE, STYLE_DASH, 1);
   SetIndexBuffer(3,Zone1LowerTarget);
   SetIndexEmptyValue(3, 0.0);
   SetIndexLabel(3, "Z1 Lower Target");

   SetIndexStyle(4,DRAW_LINE, STYLE_DASHDOTDOT, 1);
   SetIndexBuffer(4,Zone1UpperStop);
   SetIndexEmptyValue(4, 0.0);
	SetIndexLabel(4, "Z1 Upper Stop");

   SetIndexStyle(5,DRAW_LINE, STYLE_DASHDOTDOT, 1);
   SetIndexStyle(5,DRAW_LINE);
   SetIndexBuffer(5,Zone1LowerStop);
   SetIndexEmptyValue(5, 0.0);
   SetIndexLabel(5, "Z1 Lower Stop");

   SetIndexStyle(6,DRAW_ARROW);
   SetIndexArrow(6, 162);
   SetIndexBuffer(6, EntryUpperSignalsBuffer);
   SetIndexEmptyValue(6, 0.0);
   SetIndexLabel(6, "Z1 Upper Breakout");

   SetIndexStyle(7,DRAW_ARROW);
   SetIndexArrow(7, 162);
   SetIndexBuffer(7, EntryLowerSignalsBuffer);
   SetIndexEmptyValue(7, 0.0);
   SetIndexLabel(7, "Z1 Lower Breakout");

   return(0);
}

int deinit()
{

   return(0);
}
  
//+------------------------------------------------------------------+
//| Custom indicator iteration function                              |
//+------------------------------------------------------------------+
int start()
{
   int counted_bars= IndicatorCounted(),
         lastbar, result;

   if (Bars<=100) 
      return(0);
      
   if (counted_bars>0)
      counted_bars--;
      
   lastbar= Bars - counted_bars;
   
   
   //
   // compute ranges
   //
   BreakoutRanges(0, lastbar, TimeZoneOfData, DestTimeZone);
   
   
   //
   // check alerts   
   //
   static datetime lastalerttime;
   static double lastalertprice;

/*
   if (DoEntryAlerts && lastalerttime!=Time[0] && EntrySignalsBuffer[0]!=0 && EntrySignalsBuffer[0]!=lastalertprice) {
      Alert("ZoneBreakout signals entry!");
      lastalerttime= Time[0];
      lastalertprice= EntrySignalsBuffer[0];
   } 
   else {
      lastalerttime= 0;
      lastalertprice= 0.0;
   }
*/

   return(0);
}

 
//+------------------------------------------------------------------+
//| Compute Breakout ranges for daily time periods                   |
//+------------------------------------------------------------------+
int BreakoutRanges(int offset, int lastbar, int tzlocal, int tzdest)
{     
   int i, j, k,
       tzdiff= tzlocal - tzdest,
       tzdiffsec= tzdiff*3600, 
       tidxstart[2]= { 0, 0}, 
       tidxend[2]= { 0, 0 };
   double thigh[2]= { 0.0, 0.0 }, 
           tlow[2]= { 99999.9, 99999.9 };
   string tfrom[3]= { "04:00", "08:00" ,  /*rest of day: */ "12:00"},
          tto[3]=   { "08:00", "12:00",   /*rest of day: */ "24:00" },
          tday;
   bool inperiod= -1;
   datetime timet;
   

   //
   // search back for the beginning of the day
   //
   tday= TimeToStr(Time[lastbar]-tzdiffsec, TIME_DATE);   
   for (  ; lastbar<Bars; lastbar++) {
      if (TimeToStr(Time[lastbar] - tzdiffsec, TIME_DATE)!=tday) {
         lastbar--;
         break;      
      }
   }   



   //
   // find the high/low for the two periods and carry them forward through the day
   //
   tday= "XXX";
   for (i= lastbar; i>=offset; i--) {
   
      timet= Time[i] - tzdiffsec;   // time of this bar
      
      string timestr= TimeToStr(timet, TIME_MINUTES),    // current time HH:MM
             thisday= TimeToStr(timet, TIME_DATE);       // current date
          
      EntryUpperSignalsBuffer[i]= 0;   
      EntryLowerSignalsBuffer[i]= 0;   
          
      //
      // for all three periods (first period, second period, rest of day)
      //
      for (j= 0; j<3; j++) {
      
         if (tfrom[j]<=timestr && timestr<tto[j]) {   // Bar[i] in this period
      
            if (inperiod!=j) { // entered new period, so last one is completed
                                 
               if (j>0) {      // now draw high/low back over the recently completed period
               
                  for (k= tidxstart[j-1]; k>=tidxend[j-1]; k--) {
                     if (j-1==0) {
                        Zone1Upper[k]= thigh[j-1];
                        Zone1Lower[k]= tlow[j-1];
                     }
                  }
               }
               
               inperiod= j;   // remember current period
            }
            
            if (inperiod==2)   // inperiod==2 (end of day) is just to check completion of zone 2
               break;


            // for the current period find idxstart, idxend and compute high/low
            if (tidxstart[j]==0) {
               tidxstart[j]= i;
               tday= thisday;
            }
         
            tidxend[j]= i;
      
            thigh[j]= MathMax(thigh[j], High[i]);
            tlow[j]= MathMin(tlow[j], Low[i]);
         }
      }
      
      
      // 
      // carry forward the periods for which we have definite high/lows
      //
      if (inperiod>=1 && tday==thisday) { // first time period completed
         Zone1Upper[i]= thigh[0] + PipsForEntry*Point;
         Zone1Lower[i]= tlow[0] - PipsForEntry*Point;
         if (ShowTarget==1)
           {
            Zone1UpperTarget[i]= thigh[0] + PipsForEntry*Point+PipsTarget*Point;
            Zone1LowerTarget[i]= tlow[0] - PipsForEntry*Point-PipsTarget*Point;
           }
         if (ShowStop==1)
           {
            if(Zone1Upper[i]-Zone1Lower[i]>PipsStop*Point)
              {
               Zone1UpperStop[i]= Zone1Upper[i]-PipsStop*Point;  
               Zone1LowerStop[i]= Zone1Lower[i]+PipsStop*Point;  
              }
            else
              {
               Zone1UpperStop[i]= 0;  
               Zone1LowerStop[i]= 0;  
              }
           }
         
         CheckSignal(i, Zone1Upper[i], OP_BUY, EntryUpperSignalsBuffer);
         CheckSignal(i, Zone1Lower[i], OP_SELL, EntryLowerSignalsBuffer);
      }
      else {   // none yet to carry forward (zero to clear old values, e.g. from switching timeframe)
         Zone1Upper[i]= 0;
         Zone1Lower[i]= 0;
         Zone1UpperTarget[i]= 0;
         Zone1LowerTarget[i]= 0;
         Zone1UpperStop[i]= 0;
         Zone1LowerStop[i]= 0;
      }
     

      //
      // at the beginning of a new day reset everything
      //
      if (tday!="XXX" && tday!=thisday || TimeToStr(timet, TIME_MINUTES)>=tto[2]) {
         // Print("#", i, "new day ", thisday, "/", tday);
      
         tday= "XXX";
         
         Zone1UpperBreakout = False;
         Zone1LowerBreakout = False;        
         
         inperiod= -1;
         
         for (j= 0; j<2; j++) {
            tidxstart[j]= 0;
            tidxend[j]= 0;
         
            thigh[j]= 0;
            tlow[j]= 99999;
         }
      }
   }

   return (0);       
}




//+------------------------------------------------------------------+
//| Check price break                                                |
//+------------------------------------------------------------------+
bool CheckSignal(int shift, double price, int type, double &signalbuffer[]) 
{
   bool signal= false;

   if (Zone1UpperBreakout==False && type==OP_BUY && ((Open[shift]<price && High[shift]>price) || (Close[shift+1]<price && Open[shift]>price)) ) {
      signalbuffer[shift]= price;
      signal= true;
      Zone1UpperBreakout=True;
  }

   if (Zone1LowerBreakout==False && type==OP_SELL && (Open[shift]>price && Low[shift]<price) || (Close[shift+1]>price && Open[shift]<price)) {
      signalbuffer[shift]= price;
      signal= true;
      Zone1LowerBreakout=True;
  }
  
  return (signal);
}

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