K-ang_AutoCh_HL-v1
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This script is designed for the MetaTrader trading platform to provide traders with a visual representation of market trend dynamics and potential price boundaries. Instead of relying on standard moving averages, it uses a mathematical approach to calculate a "Linear Regression" line, which acts as a baseline for the current price action over a specific period of time (customizable by the user).
Core Logic and Workflow
1. Baseline Calculation (Linear Regression) The script first analyzes historical price data over a user-defined timeframe (e.g., 24 hours). It calculates a linear regression line, which is essentially a "best-fit" straight line that minimizes the distance between itself and all the closing prices within that window. This provides the general trajectory of the market's momentum.
2. Dynamic Pivot Point Detection Rather than looking at the whole chart equally, the script divides the historical period into two halves: the "past" (the older half of the data) and the "present" (the more recent half). It identifies the most significant highs and lows within these specific segments.
The logic then performs a comparison to determine which type of movement is currently dominating the market:
- Upper Bound Dominance: If the variance between the highest peaks is greater than the variance between the lowest valleys, the script prioritizes "Resistance" logic.
- Lower Bound Dominance: If the variance between the lowest valleys is more significant, it prioritizes "Support" logic.
3. Trend Projection and Boundary Mapping Once it identifies whether the market is reacting more to highs or lows, the script performs a refined calculation to project these points forward onto the current live chart. It creates three distinct price levels:
- Primary Bound: The projected level based on the primary trend.
- Median Level: A middle point calculated from the distance between the peak/valley and the regression line.
- Secondary Bound: The outer extreme of the calculated range.
4. Visual Representation Finally, the script draws three visual lines on your chart. These lines represent the projected path of these price boundaries from the start of the calculation period up to the current moment. By observing these lines, a trader can see where the market "should" be heading based on the mathematical relationship between historical extremes and the overall linear trend.
Summary for the Trader
In simple terms, this tool tells you: "Based on how the price has moved over the last X hours, and looking at where the most significant 'pushes' from buyers and sellers occurred, here is where the price boundaries are currently projected to sit." It helps filter out market noise by focusing on the underlying mathematical trend rather than every small fluctuation in price.
#property copyright "ANG3110@latchess.com"
//----------------------------------
#property indicator_chart_window
//----------------------------------
extern int Hours=24;
extern color col=SkyBlue;
//------------------
double lr,lr0,lrp;
double sx,sy,sxy,sx2,aa,bb;
int p,sName,fs;
int f,f0,f1;
double dh,dl,dh_1,dl_1,dh_2,dl_2;
int ai_1,ai_2,bi_1,bi_2;
double hai,lai,dhi,dli,dhm,dlm,ha0,hap,la0,lap;
double price_p1,price_p0,price_p2,price_01,price_00,price_02;
int p1,p0,p2,fp;
//*****************************************
int init() {
p=Hours*60/Period();
if (fs==0) {sName=CurTime(); fs=1;}
return(0);}
//*******************************
int deinit() {
ObjectDelete("1"+sName);
ObjectDelete("0"+sName);
ObjectDelete("2"+sName); }
//*******************************
int start() {
int i,n;
//------------------------------------------------------------------------------
if (f==1) {
p1=iBarShift(Symbol(),Period(),ObjectGet("1"+sName,OBJPROP_TIME1));
p0=iBarShift(Symbol(),Period(),ObjectGet("0"+sName,OBJPROP_TIME1));
p2=iBarShift(Symbol(),Period(),ObjectGet("2"+sName,OBJPROP_TIME1));
if (fp==0 && p!=p1) {p=p1; fp=1;}
if (fp==0 && p!=p0) {p=p0; fp=1;}
if (fp==0 && p!=p2) {p=p2; fp=1;}
}
//====================================================
sx=0; sy=0; sxy=0; sx2=0;
for (n=0; n<=p; n++) {sx+=n; sy+=Close[n]; sxy+=n*Close[n]; sx2+=MathPow(n,2);}
aa=(sx*sy-(p+1)*sxy)/(MathPow(sx,2)-(p+1)*sx2); bb=(sy-aa*sx)/(p+1);
//----------------------------------------------------
for (i=0; i<=p; i++) {
lr=bb+aa*i;
dh=High[i]-lr; dl=Low[i]-lr;
//----------------------------------------------------
if (i<p/2) {if (i==0) {dh_1=0.0; dl_1=0.0; ai_1=i; bi_1=i;}
if (dh>=dh_1) {dh_1=dh; ai_1=i;}
if (dl<=dl_1) {dl_1=dl; bi_1=i;}}
//----------------------------------------------------
if (i>=p/2) {if (i==p/2) {dh_2=0.0; dl_2=0.0; ai_2=i; bi_2=i;}
if (dh>=dh_2) {dh_2=dh; ai_2=i;}
if (dl<=dl_2) {dl_2=dl; bi_2=i;}}}
//-------------------------------------
lr0=bb; lrp=bb+aa*(i+p);
//===================================================
if (MathAbs(ai_1-ai_2)>MathAbs(bi_1-bi_2)) f=1;
if (MathAbs(ai_1-ai_2)<MathAbs(bi_1-bi_2)) f=2;
if (MathAbs(ai_1-ai_2)==MathAbs(bi_1-bi_2)) {if (MathAbs(dh_1-dh_2)<MathAbs(dl_1-dl_2)) f=1; if (MathAbs(dh_1-dh_2)>=MathAbs(dl_1-dl_2)) f=2;}
//=================================================
if (f==1) {
for (n=0; n<=20; n++) { f1=0;
for (i=0; i<=p; i++) {hai=High[ai_1]*(i-ai_2)/(ai_1-ai_2)+High[ai_2]*(i-ai_1)/(ai_2-ai_1);
if (i==0 || i==p/2) dhm=0.0;
if (High[i]-hai>dhm && i<p/2) {ai_1=i; f1=1;}
if (High[i]-hai>dhm && i>=p/2) {ai_2=i; f1=1;} }
if (f==0) break;}
//----------------------------
for (i=0; i<=p; i++) {hai=High[ai_1]*(i-ai_2)/(ai_1-ai_2)+High[ai_2]*(i-ai_1)/(ai_2-ai_1);
dli=Low[i]-hai;
if (i==0) dlm=0.0; if (dli<dlm) dlm=dli;}
ha0=High[ai_1]*(0-ai_2)/(ai_1-ai_2)+High[ai_2]*(0-ai_1)/(ai_2-ai_1);
hap=High[ai_1]*(p-ai_2)/(ai_1-ai_2)+High[ai_2]*(p-ai_1)/(ai_2-ai_1);
//----------------------------
price_p1=hap;
price_p0=hap+dlm/2;
price_p2=hap+dlm;
price_01=ha0;
price_00=ha0+dlm/2;
price_02=ha0+dlm;
}
//=================================================
if (f==2) {
for (n=0; n<=20; n++) { f1=0;
for (i=0; i<=p; i++) {lai=Low[bi_1]*(i-bi_2)/(bi_1-bi_2)+Low[bi_2]*(i-bi_1)/(bi_2-bi_1);
if (i==0 || i==p/2) dlm=0.0;
if (Low[i]-lai<dlm && i<p/2) {bi_1=i; f1=1;}
if (Low[i]-lai<dlm && i>=p/2) {bi_2=i; f1=1;}}
if (f==0) break;}
//----------------------------
for (i=0; i<=p; i++) {lai=Low[bi_1]*(i-bi_2)/(bi_1-bi_2)+Low[bi_2]*(i-bi_1)/(bi_2-bi_1);
dhi=High[i]-lai;
if (i==0) dhm=0.0; if (dhi>dhm) dhm=dhi;}
la0=Low[bi_1]*(0-bi_2)/(bi_1-bi_2)+Low[bi_2]*(0-bi_1)/(bi_2-bi_1);
lap=Low[bi_1]*(p-bi_2)/(bi_1-bi_2)+Low[bi_2]*(p-bi_1)/(bi_2-bi_1);
//----------------------------------------------------------------
price_p1=lap;
price_p0=lap+dhm/2;
price_p2=lap+dhm;
price_01=la0;
price_00=la0+dhm/2;
price_02=la0+dhm;
}
//===================================================================================
ObjectCreate("1"+sName,2, 0,Time[p],price_p1,Time[0],price_01);
ObjectCreate("0"+sName,2, 0,Time[p],price_p0,Time[0],price_00);
ObjectCreate("2"+sName,2, 0,Time[p],price_p2,Time[0],price_02);
//-----------------------------------------------------------------
ObjectSet("1"+sName,OBJPROP_COLOR,col);
ObjectSet("0"+sName,OBJPROP_COLOR,col);
ObjectSet("0"+sName,OBJPROP_STYLE,STYLE_DOT);
ObjectSet("2"+sName,OBJPROP_COLOR,col);
//---------------------------------------------
ObjectSet("1"+sName,OBJPROP_TIME1,Time[p]);
ObjectSet("1"+sName,OBJPROP_PRICE1,price_p1);
ObjectSet("1"+sName,OBJPROP_TIME2,Time[0]);
ObjectSet("1"+sName,OBJPROP_PRICE2,price_01);
ObjectSet("0"+sName,OBJPROP_TIME1,Time[p]);
ObjectSet("0"+sName,OBJPROP_PRICE1,price_p0);
ObjectSet("0"+sName,OBJPROP_TIME2,Time[0]);
ObjectSet("0"+sName,OBJPROP_PRICE2,price_00);
ObjectSet("2"+sName,OBJPROP_TIME1,Time[p]);
ObjectSet("2"+sName,OBJPROP_PRICE1,price_p2);
ObjectSet("2"+sName,OBJPROP_TIME2,Time[0]);
ObjectSet("2"+sName,OBJPROP_PRICE2,price_02);
//==================================================================
f=1; p1=p; p0=p; p2=p; fp=0;
//*************************************************************************************
return(0);}
//=====================================================================================
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