# Murrey Math Black

Download script
Author: Vladislav Goshkov (VG).
# Murrey Math Black

This script is designed to provide visual structural analysis of the financial market by identifying key price levels based on the Murrey Math theory. Instead of looking at simple moving averages, it focuses on the "trading range" to establish a framework of support and resistance.

Core Logic Overview

The script analyzes a specific historical window of price action (defined by the period setting) to determine the high and low points of that range. From these two extremes, it calculates a series of horizontal levels that divide the market into logical segments.

Key Components of the Analysis

1. Dynamic Range Calculation The tool first identifies the highest and lowest prices within the user-defined lookback period. It then uses a mathematical process to determine the "octave"—a foundational measurement based on the size of the current trading range. This ensures that the levels stay relevant regardless of whether the market is in a high-volatility state or a low-volatility state.

2. Pivot Point Identification The script doesn't just draw lines at random intervals. It applies specific mathematical filters to identify "Pivotal Points." These are calculated based on where the price has historically behaved most stably or where it has shown significant resistance. The logic checks the current price position against these internal calculations to determine which levels are "active" or "significant" for the current market structure.

3. The 8x8 Grid System The primary output of this script is a set of 13 horizontal lines that segment the market into an 8x8 grid (effectively dividing the trading range into eighths). These levels provide specific context for different types of price action:

  • Extreme Zones: The outer limits (labeled as "Overshoot" or "Ultimate Resistance/Support") identify areas where the price is stretched significantly and may be due for a correction.
  • Trading Range Boundaries: The middle sections identify the "Top" and "Bottom" of the current active trading range, helping to define the "Premium" and "Discount" zones.
  • Major Pivots: Central levels are highlighted as major support and resistance points, which are often the primary areas where trend reversals or significant stalls occur.
  • Weak Stalls: Specific intermediate levels are identified to show where price might briefly pause before continuing its current direction.

Visual Presentation

The script automatically manages these levels on your chart by creating and updating horizontal lines and text labels in real-time. Each level is color-coded to help distinguish between different types of market behavior—such as identifying a "Major Reversal" versus a "Weak Stall"—allowing for a clearer visual interpretation of the market's structural "geography."

20 Views
0 Downloads
0 Favorites
# Murrey Math Black 
//+------------------------------------------------------------------+
//|                                              MM# LabelLevels.mq4 |
//|                      Copyright © 2006, MetaQuotes Software Corp. |
//|                                        http://www.metaquotes.net |
//+------------------------------------------------------------------+

#property copyright "Copyright © 2006, MetaQuotes Software Corp."
#property link      " Modified by cja " 
#property link      "http://www.metaquotes.net"

//+------------------------------------------------------------------+
//|                                            Murrey_Math_MT_VG.mq4 |
//|                      Copyright © 2004, MetaQuotes Software Corp. |
//|                                        http://www.metaquotes.net |
//+------------------------------------------------------------------+
#property copyright "Vladislav Goshkov (VG)."
#property link      "4vg@mail.ru"

#property indicator_chart_window

// ============================================================================================
// 8/8 c 0/8 
// ============================================================================================
// 7/8    Weak, Stall and Reverse

// ============================================================================================
// 1/8  Weak, Stall and Reverse

// ============================================================================================
// 6/8 c 2/8  Pivot, Reverse

// ============================================================================================
// 5/8  Top of Trading Range 40% of trading range between 5/8 & 3/8 
                                
// ============================================================================================
// 3/8  Bottom of Trading Range

// ============================================================================================
// 4/8  Major Support/Resistance

// ============================================================================================


#define MMTop "MMTop"
#define MMBot "MMBot"
#define MMperiod "MMperiod"



extern int P = 64;
extern int StepBack = 0;
extern bool Comments=true;

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;

//+------------------------------------------------------------------+
//| Custom indicator initialization function                         |
//+------------------------------------------------------------------+
int init() {
//---- indicators
   ln_txt[0]  = "                          [-2/8]Extreme Overshoot";// "extremely overshoot [-2/8]";// [-2/8]
   ln_txt[1]  = "             [-1/8]Overshoot";// "overshoot [-1/8]";// [-1/8]
   ln_txt[2]  = "                     [0/8]Ultimate Support";// "Ultimate Support - extremely oversold [0/8]";// [0/8]
   ln_txt[3]  = "                           [1/8]Weak Stall & Reverse";// "Weak, Stall and Reverse - [1/8]";// [1/8]
   ln_txt[4]  = "                    [2/8]Reversal - Major";// "Pivot, Reverse - major [2/8]";// [2/8]
   ln_txt[5]  = "                               [3/8]Bottom - Trading Range";// "Bottom of Trading Range - [3/8], if 10-12 bars then 40% Time. BUY Premium Zone";//[3/8]
   ln_txt[6]  = "                                  [4/8]Major Support/Resistance";// "Major Support/Resistance Pivotal Point [4/8]- Best New BUY or SELL level";// [4/8]
   ln_txt[7]  = "                       [5/8]Top Trading Range";// "Top of Trading Range - [5/8], if 10-12 bars then 40% Time. SELL Premium Zone";//[5/8]
   ln_txt[8]  = "                 [6/8]Reversal Major";// "Pivot, Reverse - major [6/8]";// [6/8]
   ln_txt[9]  = "                           [7/8]Weak Stall & Reverse";// "Weak, Stall and Reverse - [7/8]";// [7/8]
   ln_txt[10] = "                         [8/8]Ulitimate Resistance";// "Ultimate Resistance - extremely overbought [8/8]";// [8/8]
   ln_txt[11] = "             [+1/8]Overshoot";// "overshoot [+1/8]";// [+1/8]
   ln_txt[12] = "                          [+2/8]Extreme Overshoot";// "extremely overshoot [+2/8]";// [+2/8]

   mml_shft = 0;//original was 3
   mml_thk  = 3;

   // Ír÷rëüír? ónnríîâer öâlnîâ ódîâílé îenrâ 
   mml_clr[0]  = C'90,90,90';//SteelBlue;    // [-2]/8
   mml_clr[1]  = C'90,90,90';//DarkViolet;  // [-1]/8
   mml_clr[2]  = Maroon;//Aqua;        //  [0]/8
   mml_clr[3]  = C'90,90,90';//Gold;      //  [1]/8
   mml_clr[4]  = C'90,90,90';//Red;         //  [2]/8
   mml_clr[5]  = Maroon;//Green;   //  [3]/8
   mml_clr[6]  = Black;//Blue;        //  [4]/8
   mml_clr[7]  = Maroon;//Green;   //  [5]/8
   mml_clr[8]  = C'90,90,90';//Red;         //  [6]/8
   mml_clr[9]  = C'90,90,90';//Gold;      //  [7]/8
   mml_clr[10] = Maroon;//Aqua;        //  [8]/8
   mml_clr[11] = C'90,90,90';//DarkViolet;  // [+1]/8
   mml_clr[12] = C'90,90,90';//SteelBlue;    // [+2]/8
//----
   return(0);
  }

//+------------------------------------------------------------------+
//| Custor indicator deinitialization function                       |
//+------------------------------------------------------------------+
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);
    }
   //ObjectDelete(MMTop);
   //ObjectDelete(MMBot);
   //ObjectDelete(MMperiod);   
//----
   return(0);
  }
//+------------------------------------------------------------------+
//| Custom indicator iteration function                              |
//+------------------------------------------------------------------+
int start() {

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

if( (nTime != Time[0]) || (CurPeriod != Period()) ) {
   
  //price
   bn_v1 = Lowest(NULL,0,MODE_LOW,P+StepBack,0);
   bn_v2 = Highest(NULL,0,MODE_HIGH,P+StepBack,0); // changes when price exceeds hi/low

   v1 = Low[bn_v1];
   v2 = High[bn_v2];
   
   //Comment("\n","MURREYMATH ","\n","HighClose = ",v2,"\n","LowClose = ",v1,"\n");
   //Comment("HighClose ",v2,"\n","LowClose ",v1,"\n");

//Comment("Copyright © http://young.net.pl/forex");
   
   //v1=(Close[Lowest(NULL,0,MODE_CLOSE,P+StepBack,0)]);
   //v2=(Close[Highest(NULL,0,MODE_CLOSE,P+StepBack,0)]);// Possibly a better hi/low code than above code changes on CLOSE
                                                         // Still does not update 
                         
//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(ObjectFind(buff_str) == -1) {
           ObjectCreate(buff_str, OBJ_HLINE, 0, Time[0], mml[i]);
           ObjectSet(buff_str, OBJPROP_STYLE, STYLE_DOT);
           ObjectSet(buff_str, OBJPROP_COLOR, mml_clr[i]);
           ObjectSet(buff_str, OBJPROP_BACK, 1);
           ObjectMove(buff_str, 0, Time[0],  mml[i]);
           }
        else {
           ObjectMove(buff_str, 0, Time[0],  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, "Tahoma", mml_clr[i]);
           ObjectSet(buff_str, OBJPROP_BACK, 1);
           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[0];
   CurPeriod= Period();

           //ObjectDelete(MMBot);
           //ObjectCreate(MMBot, OBJ_RECTANGLE, 0, Time[0], mml[0], Time[P], mml[2]);
           //ObjectSet(MMBot, OBJPROP_COLOR, C'33,33,33');
           
           //ObjectDelete(MMTop);
           //ObjectCreate(MMTop, OBJ_RECTANGLE, 0, Time[0], mml[10], Time[P], mml[12]);
           //ObjectSet(MMTop, OBJPROP_COLOR, C'33,33,33');

           //ObjectDelete(MMperiod);
           //ObjectCreate(MMperiod, OBJ_RECTANGLE, 0, Time[P], mml[0], Time[2*P], mml[12]);
           //ObjectSet(MMperiod, OBJPROP_COLOR, C'33,33,33');
   }
 
//---- End Of Program
  return(0);
  }
//+------------------------------------------------------------------+

Similar scripts

Murrey Math Lines F_v1

This indicator utilizes fractal geometry and logarithmic scaling to partition market volatility into eight distinct octaves, identifying precise zones of equilibrium, premium distribution, and major structural pivot points.

Murrey_Math_Line v2

This indicator identifies 13 dynamic price levels based on fractal octave analysis to pinpoint major structural pivots, premium zones, and reversal stalls.

Murrey_Math_MT4_VGb

This indicator dynamically calculates and plots thirteen fractal-based price levels to identify precise zones of market exhaustion, major pivots, and equilibrium boundaries.

Murrey_Math_MT4_VG1b1

This indicator utilizes fractal geometry and multi-level price partitioning to project 13 distinct support and resistance zones based on market volatility.

Murrey_Math_MT4_VGb_v1

This indicator utilizes fractal geometry and logarithmic scaling to segment market price action into a 13-level octave system, identifying precise pivot points for high-probability trend reversals and structural support zones.

Murrey Math Lines F

This indicator utilizes a fractal-based logarithmic scale to segment price action into eight distinct octaves, identifying high-probability support and resistance levels.

chann123

MurrayMath_v1

This indicator dynamically projects a multi-level horizontal price grid by calculating the fractal recursive range and identifying pivotal structural boundaries.

Monthly_Pivot

Murrey_Math_Line_X_eng_v1

This indicator projects a multi-layered support and resistance framework by partitioning price action into an eight-part octave based on fractal range analysis.

b-clockN_mtf

Comments