lastweekfibo

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Author: Copyright 2015, MetaQuotes Software Corp.
lastweekfibo

This script is designed for traders who use Fibonacci retracement levels to identify potential price turning points. Specifically, it automates the process of identifying and drawing the trading range for the previous week on your chart, providing a visual reference for "Highs" and "Lows" based on historical weekly data.

Here is a breakdown of how the logic works:

Timeframe & Compatibility

The script includes built-in checks to ensure it only runs on specific timeframes. It is designed to work on intraday charts (like the 1-hour) up to daily charts. If you try to run it on a weekly or monthly chart, the script will notify you that it cannot execute because the timeframe is too large.

Market Logic & Time Detection

The tool recognizes that different regions have different "trading weeks." It allows for two modes:

  • East: Designed for markets where the week starts on Saturday and ends on Friday.
  • West: Designed for markets where the week typically starts on Sunday/Monday and ends on Thursday/Friday.

It automatically calculates the exact start and end dates of the "Last Week" based on the current date and the user's chosen starting day.

Automatic Price Identification

Once the script identifies the correct time window for the previous week, it performs two primary actions:

  1. High & Low Detection: It scans all price action within that specific one-week window to find the absolute highest price point and the absolute lowest price point reached.
  2. Visual Mapping: It draws horizontal lines on your current chart to mark these boundaries clearly.

Fibonacci Integration

The core feature of this script is the automatic generation of Fibonacci levels based on that previous week's range:

  • Dynamic Drawing: It draws a complete Fibonacci retracement from the weekly high to the weekly low (or vice versa, depending on which occurred first).
  • Key Levels: It populates the chart with standard "Golden Section" levels, such as 61.8%, 50.0%, and 38.2%.
  • Extended Range: Unlike standard Fibonacci tools that might only show a small section, this one is configured to display an extensive range of levels (from -100% to +200%), giving you a comprehensive view of potential overextended price zones.

Visual Features

  • Time Range Lines: Vertical lines are placed to show exactly when the previous week started and ended.
  • Price Value Markers: Small arrows/marks are placed at the exact points where the weekly High and Low occurred, so you can see the specific candles that formed those peaks.
  • Custom Styling: The script includes a suite of visual controls, allowing you to customize the colors of the price ranges, time boundaries, and Fibonacci levels to match your personal chart aesthetics.
Price Data Components
Series array that contains the highest prices of each barSeries array that contains the lowest prices of each bar
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lastweekfibo 
ÿþ//+------------------------------------------------------------------+

//|                                                LastWeekFibo.mq4  |

//|                        Copyright 2015, MetaQuotes Software Corp. |

//|                                             https://www.mql5.com |

//+------------------------------------------------------------------+

#property copyright "Copyright 2015, MetaQuotes Software Corp."

#property link      "https://www.mql5.com"

#property version   "1.00"

#property strict

#property indicator_chart_window

//--- input parameters

extern int startWeekDayOfWeek=1; //Start Week Day 1 For East 7 For West

input ENUM_TIMEFRAMES minTimeFrames= PERIOD_H1; // Min Time Frames

input ENUM_TIMEFRAMES maxTimeFrames= PERIOD_D1; // Max Time Frames

input color TimeRangeColor=clrRed; //Time Range Line Color

input color PriceRangeColor=clrRed; //Price Range Line Color

input color PriceMarkColor=clrBlue; //Price Mark Color

input color GoldenSectionColor=clrBlue; //Golden Section Color

//+------------------------------------------------------------------+

//| Custom indicator initialization function                         |

//+------------------------------------------------------------------+

int OnInit()

  {

//---

   if(Period()>=minTimeFrames && Period()<=maxTimeFrames && Period()<PERIOD_W1)

     {

      return(INIT_SUCCEEDED);

        }else{

      Print("Init Failed TimeFrame Less than One Week");

      //return(INIT_FAILED);

     }

   return(INIT_SUCCEEDED);

  }

//+------------------------------------------------------------------+

//| Expert deinitialization function                                 |

//+------------------------------------------------------------------+

void OnDeinit(const int reason)

  {

//---

   ObjectDelete(0,"LastWeekStartDateTime");

   ObjectDelete(0,"LastWeekEndDateTime");

   ObjectDelete(0,"LastWeekHighPrice");

   ObjectDelete(0,"LastWeekLowPrice");

   ObjectDelete(0,"LastWeekHighPriceValue");

   ObjectDelete(0,"LastWeekLowPriceValue");

   ObjectDelete(0,"FibooLastWeek");

  }

//+------------------------------------------------------------------+

//| Custom indicator iteration function                              |

//+------------------------------------------------------------------+

int OnCalculate(const int rates_total,

                const int prev_calculated,

                const datetime &time[],

                const double &open[],

                const double &high[],

                const double &low[],

                const double &close[],

                const long &tick_volume[],

                const long &volume[],

                const int &spread[])

  {

//---

   LastWeekFibo();

//--- return value of prev_calculated for next call

   return(rates_total);

  }

//+------------------------------------------------------------------+

//| LastWeekFibo function                                            |

//+------------------------------------------------------------------+

void LastWeekFibo()

  {

/**

Calculate the start and end for week

East:Market From  Before Weeek Saturdayÿ6	ÿ  00:00 To Last Week Fridayÿ5	ÿ 23:59  

West:Market From  Before Weeek Fridayÿ5	ÿ 00:00 To Last Week Thursday 23:59



A week of market began ( USA EAST UTC -5 ) 17:00 in  EST on Sunday, the market continues on Friday 17:00

**/

   datetime TimeCurrentDateTime=TimeCurrent();// Local DateTime

   datetime ToDayStartDateTime=StringToTime(TimeToString(TimeCurrent(),TIME_DATE));//  ToDay Start From 00:00;

//---

   datetime LastWeekEndDateTime=NULL;

   datetime LastWeekStartDateTime=NULL;

//---

   int ToDayWeek=TimeDayOfWeek(ToDayStartDateTime);

//--- 1st Day Of  Market

   if(ToDayWeek==startWeekDayOfWeek)

     {

      LastWeekEndDateTime=ToDayStartDateTime-2*24*60*60 -1;

      LastWeekStartDateTime=ToDayStartDateTime-9*24*60*60;

     }

   else

     {

      LastWeekEndDateTime=ToDayStartDateTime-(2+ToDayWeek-1)*24*60*60-1;

      LastWeekStartDateTime=ToDayStartDateTime-(9+ToDayWeek-1)*24*60*60;

     }

   if(Period()>=minTimeFrames && Period()<=maxTimeFrames && Period()<PERIOD_W1)

     {

      int StartShift=iBarShift(NULL,NULL,LastWeekEndDateTime,false);//Shift Number Of  End Date Time

      int EndShift=iBarShift(NULL,NULL,LastWeekStartDateTime,false);//Shift Number Of Start Date Time

      //---

      int ShiftCount=EndShift -StartShift+1;//PERIOD_D1/Period();// Current Period Shift Count

      //---

      int LastWeekHighPriceIndex=iHighest(NULL,NULL,MODE_HIGH,ShiftCount,StartShift);//High Price Shift Number

      int LastWeekLowPriceIndex=iLowest(NULL,NULL,MODE_LOW,ShiftCount,StartShift);//Low Price Shift Number

      //---

      double LastWeekHighPrice=iHigh(NULL,NULL,LastWeekHighPriceIndex);//High Price

      double LastWeekLowPrice=iLow(NULL,NULL,LastWeekLowPriceIndex);//Low Price

      //--- Time Range Line

      DrawVLine("LastWeekStartDateTime",Time[EndShift]);

      ObjectSetStyle("LastWeekStartDateTime","Time Range Line",TimeRangeColor,STYLE_SOLID,1);

      DrawVLine("LastWeekEndDateTime",Time[StartShift]);

      ObjectSetStyle("LastWeekEndDateTime","Time Range Line",TimeRangeColor,STYLE_SOLID,1);

      //--- Price Range Line

      DrawHLine("LastWeekHighPrice",LastWeekHighPrice);

      ObjectSetStyle("LastWeekHighPrice","Price Range Line",PriceRangeColor,STYLE_SOLID,1);

      DrawHLine("LastWeekLowPrice",LastWeekLowPrice);

      ObjectSetStyle("LastWeekLowPrice","Price Range Line",PriceRangeColor,STYLE_SOLID,1);

      //--- Price Value Mark

      DrawArrow("LastWeekHighPriceValue",Time[LastWeekHighPriceIndex],LastWeekHighPrice,6);

      ObjectSetStyle("LastWeekHighPriceValue","Price Value Mark ",PriceMarkColor,STYLE_SOLID,1);

      DrawArrow("LastWeekLowPriceValue",Time[LastWeekLowPriceIndex],LastWeekLowPrice,6);

      ObjectSetStyle("LastWeekLowPriceValue","Price Value Mark ",PriceMarkColor,STYLE_SOLID,1);

      //--- Golden Section

      if(LastWeekHighPriceIndex>LastWeekLowPriceIndex)

        {

         DrawFiboComplete("FibooLastWeek",Time[LastWeekHighPriceIndex],LastWeekHighPrice,Time[LastWeekLowPriceIndex],LastWeekLowPrice);

        }

      else

        {

         DrawFiboComplete("FibooLastWeek",Time[LastWeekLowPriceIndex],LastWeekLowPrice,Time[LastWeekHighPriceIndex],LastWeekHighPrice);

        }

      ObjectSetStyle("FibooLastWeek","Golden Section",GoldenSectionColor,STYLE_DOT,1);

      ObjectSetLevelStyle("FibooLastWeek","Golden Section",GoldenSectionColor,STYLE_SOLID,1);

     }

  }

//+------------------------------------------------------------------+

//| DrawHLine Function                                               |

//+------------------------------------------------------------------+

void DrawHLine(string hlineName,double price)

  {

   ObjectCreate(hlineName,OBJ_HLINE,0,NULL,price);

  }

//+------------------------------------------------------------------+

//| DrawVLine Function                                               |

//+------------------------------------------------------------------+

void DrawVLine(string vlineName,datetime time)

  {

   ObjectCreate(vlineName,OBJ_VLINE,0,time,NULL);

  }

//+------------------------------------------------------------------+

//|                DrawArrow Function                                |

//+------------------------------------------------------------------+

void DrawArrow(string arrowName,datetime time,double price,uint arrowCode)

  {

   ObjectCreate(arrowName,OBJ_ARROW,0,time,price);

   ObjectSet(arrowName,OBJPROP_ARROWCODE,arrowCode);

  }

//+------------------------------------------------------------------+

//| DrawFiboComplete Function From -100% To +100%                    | 

//+------------------------------------------------------------------+

void DrawFiboComplete(string fiboName,datetime firstTime,double firstPrice,datetime secondTime,double secondPrice)

  {

   ObjectCreate(fiboName,OBJ_FIBO,0,firstTime,firstPrice,secondTime,secondPrice);

//---

   ObjectSet(fiboName,OBJPROP_FIBOLEVELS,25);

//---

   ObjectSet(fiboName,OBJPROP_FIRSTLEVEL+18,-1.000);ObjectSetFiboDescription(fiboName,+18,"-100.0%% = %$");

   ObjectSet(fiboName,OBJPROP_FIRSTLEVEL+17,-0.764);ObjectSetFiboDescription(fiboName,+17,"-76.4%% = %$");

   ObjectSet(fiboName,OBJPROP_FIRSTLEVEL+16,-0.618);ObjectSetFiboDescription(fiboName,+16,"-61.8%% = %$");

   ObjectSet(fiboName,OBJPROP_FIRSTLEVEL+15,-0.50);ObjectSetFiboDescription(fiboName,+15,"-50.0%% = %$");

   ObjectSet(fiboName,OBJPROP_FIRSTLEVEL+14,-0.382);ObjectSetFiboDescription(fiboName,+14,"-38.2%% = %$");

   ObjectSet(fiboName,OBJPROP_FIRSTLEVEL+13,-0.236);ObjectSetFiboDescription(fiboName,+13,"-23.6%% = %$");

//---

   ObjectSet(fiboName,OBJPROP_FIRSTLEVEL+0,0.000);ObjectSetFiboDescription(fiboName,0,"00.0%% = %$");

   ObjectSet(fiboName,OBJPROP_FIRSTLEVEL+1,0.236);ObjectSetFiboDescription(fiboName,1,"23.6%% = %$");

   ObjectSet(fiboName,OBJPROP_FIRSTLEVEL+2,0.382);ObjectSetFiboDescription(fiboName,2,"38.2%% = %$");

   ObjectSet(fiboName,OBJPROP_FIRSTLEVEL+3,0.500);ObjectSetFiboDescription(fiboName,3,"50.0%% = %$");

   ObjectSet(fiboName,OBJPROP_FIRSTLEVEL+4,0.618);ObjectSetFiboDescription(fiboName,4,"61.8%% = %$");

   ObjectSet(fiboName,OBJPROP_FIRSTLEVEL+5,0.764);ObjectSetFiboDescription(fiboName,5,"76.4%% = %$");

   ObjectSet(fiboName,OBJPROP_FIRSTLEVEL+6,1.000);ObjectSetFiboDescription(fiboName,6,"100.0%% = %$");

//---

   ObjectSet(fiboName,OBJPROP_FIRSTLEVEL+7,1.236);ObjectSetFiboDescription(fiboName,7,"123.6%% = %$");

   ObjectSet(fiboName,OBJPROP_FIRSTLEVEL+8,1.382);ObjectSetFiboDescription(fiboName,8,"138.2%% = %$");

   ObjectSet(fiboName,OBJPROP_FIRSTLEVEL+9,1.50);ObjectSetFiboDescription(fiboName,9,"150.0%% = %$");

   ObjectSet(fiboName,OBJPROP_FIRSTLEVEL+10,1.618);ObjectSetFiboDescription(fiboName,10,"161.8%% = %$");

   ObjectSet(fiboName,OBJPROP_FIRSTLEVEL+11,1.764);ObjectSetFiboDescription(fiboName,11,"176.4%% = %$");

   ObjectSet(fiboName,OBJPROP_FIRSTLEVEL+12,2.000);ObjectSetFiboDescription(fiboName,12,"200.0%% = %$");

   ObjectSet(fiboName,OBJPROP_RAY,true);

  }

//+------------------------------------------------------------------+

//| DrawFiboSimple Function From 0% To +100%                         | 

//+------------------------------------------------------------------+

void DrawFiboSimple(string fiboName,datetime firstTime,double firstPrice,datetime secondTime,double secondPrice)

  {

   ObjectCreate(fiboName,OBJ_FIBO,0,firstTime,firstPrice,secondTime,secondPrice);

   ObjectSet(fiboName,OBJPROP_FIBOLEVELS,20);

   ObjectSet(fiboName,OBJPROP_FIRSTLEVEL+0,0.000);ObjectSetFiboDescription(fiboName,0,"00.0%% = %$");

   ObjectSet(fiboName,OBJPROP_FIRSTLEVEL+1,0.236);ObjectSetFiboDescription(fiboName,1,"23.6%% = %$");

   ObjectSet(fiboName,OBJPROP_FIRSTLEVEL+2,0.382);ObjectSetFiboDescription(fiboName,2,"38.2%% = %$");

   ObjectSet(fiboName,OBJPROP_FIRSTLEVEL+3,0.500);ObjectSetFiboDescription(fiboName,3,"50.0%% = %$");

   ObjectSet(fiboName,OBJPROP_FIRSTLEVEL+4,0.618);ObjectSetFiboDescription(fiboName,4,"61.8%% = %$");

   ObjectSet(fiboName,OBJPROP_FIRSTLEVEL+5,0.764);ObjectSetFiboDescription(fiboName,5,"76.4%% = %$");

   ObjectSet(fiboName,OBJPROP_FIRSTLEVEL+6,1.000);ObjectSetFiboDescription(fiboName,6,"100.0%% = %$");

   ObjectSet(fiboName,OBJPROP_RAY,true);

  }

//+------------------------------------------------------------------+

//| ObjectSetStyle Function                                          |

//+------------------------------------------------------------------+

void ObjectSetStyle(string objectName,string devation,color _color,uint style,uint width)

  {

//ObjectSet(objectName,OBJPROP_DEVIATION,ObjectDescription(devation));

   ObjectSet(objectName,OBJPROP_COLOR,_color);

   ObjectSet(objectName,OBJPROP_STYLE,style);

   ObjectSet(objectName,OBJPROP_WIDTH,width);

  }

//+------------------------------------------------------------------+

//| ObjectSetLevelStyle Function                                     |

//+------------------------------------------------------------------+

void ObjectSetLevelStyle(string objectName,string devation,color _color,uint style,uint width)

  {

   ObjectSet(objectName,OBJPROP_LEVELCOLOR,_color);

   ObjectSet(objectName,OBJPROP_LEVELSTYLE,style);

   ObjectSet(objectName,OBJPROP_LEVELWIDTH,width);

  }

//+------------------------------------------------------------------+

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