Pivots Daily_001

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Author: Copyright � 004, MetaQuotes Software Corp.
Pivots Daily_001

This script is a technical analysis tool designed for the MetaTrader 4 platform. Its primary purpose is to automatically calculate and display various key price levels—specifically Pivot Points, Camarilla Levels, and Midpoints—directly on a trader's price chart. By visualizing these levels, traders can better identify potential support and resistance zones where the price might react or reverse.

Core Logic and Functionality

Data Collection The script begins by gathering essential price data from the previous trading day and the current day. It specifically looks for the daily high, low, opening price, and closing price. This historical data serves as the foundation for all subsequent calculations.

Pivot Point Calculations The tool calculates a standard set of Pivot Points based on the previous day's price action:

  • Main Pivot (P): The central equilibrium point, calculated as the average of the previous day's high, low, and closing prices.
  • Resistance Levels (R1, R2, R3): These represent potential "ceilings" where upward momentum might face selling pressure.
  • Support Levels (S1, S2, S3): These represent potential "floors" where downward momentum might find buying interest.

Camarilla Levels If enabled, the script calculates Camarilla levels. These are specific price points often used by range traders to identify breakout levels (H3, H4) and reversal boundaries (L3, L4). They provide an additional layer of depth for identifying where high-frequency price fluctuations might transition into larger trends.

Midpoint Analysis The script also calculates "Midpoints" (M0 through M5). These are calculated by finding the averages between various resistance and support levels. By displaying these intermediate steps, the tool helps traders see the smaller "steps" within a larger price range, allowing for more precise entries or exits.

Visual Presentation Once the math is completed, the script handles the visual side of the trading interface:

  • Dynamic Drawing: It automatically creates horizontal lines and text labels on the chart to represent each calculated level.
  • Color Coding: Different levels are assigned specific colors (such as LimeGreen for resistance, Red for support, and Blue or Yellow for other variants) to help the user distinguish between them at a glance.
  • Real-time Updates: The script includes a countdown mechanism that calculates the time remaining until the next candle starts, ensuring the trader knows exactly when the current price data will refresh.

User Constraints To ensure accuracy, the script includes a safeguard that prevents it from running on charts with a timeframe larger than one day (e.g., weekly or monthly charts), as the daily pivot logic requires daily data to remain valid.

Price Data Components
Series array that contains open time of each bar
Miscellaneous
Implements a curve of type %1
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0 Downloads
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Pivots Daily_001 
//+------------------------------------------------------------------+
//|                                                        Pivot.mq4 |
//|                      Copyright © 004, MetaQuotes Software Corp. |
//|                                        http://www.metaquotes.net |
//+------------------------------------------------------------------+
#property copyright "Copyright © 004, MetaQuotes Software Corp."
#property link      "http://www.metaquotes.net"

#property indicator_chart_window
#property indicator_buffers 1
#property indicator_color1 CLR_NONE


extern bool pivots = true;
extern bool camarilla = false;
extern bool midpivots = true;


double day_high=0;
double day_low=0;
double yesterday_high=0;
double yesterday_open=0;
double yesterday_low=0;
double yesterday_close=0;
double today_open=0;
double today_high=0;
double today_low=0;
double P=0;
double Q=0;
double R1,R2,R3;
double M0,M1,M2,M3,M4,M5;
double S1,S2,S3;
double H4,H3,L4,L3;
double nQ=0;
double nD=0;
double D=0;
double rates_d1[2][6];
double ExtMapBuffer1[];
//+------------------------------------------------------------------+
//| Custom indicator initialization function                         |
//+------------------------------------------------------------------+
int init()
  {
  IndicatorBuffers(4);
SetIndexStyle(0,DRAW_ARROW);
SetIndexArrow(0,159);
SetIndexBuffer(0, ExtMapBuffer1);

//---- indicators
 R1=0; R2=0; R3=0;
 M0=0; M1=0; M2=0; M3=0; M4=0; M5=0;
 S1=0; S2=0; S3=0;
 H4=0; H3=0; L4=0; L3=0;
 

//----
   return(0);
  }
//+------------------------------------------------------------------+
//| Custor indicator deinitialization function                       |
//+------------------------------------------------------------------+
int deinit()
  {
//---- TODO: add your code here
ObjectDelete("R1 Label"); 
ObjectDelete("R1 Line");
ObjectDelete("R2 Label");
ObjectDelete("R2 Line");
ObjectDelete("R3 Label");
ObjectDelete("R3 Line");
ObjectDelete("S1 Label");
ObjectDelete("S1 Line");
ObjectDelete("S2 Label");
ObjectDelete("S2 Line");
ObjectDelete("S3 Label");
ObjectDelete("S3 Line");
ObjectDelete("P Label");
ObjectDelete("P Line");
ObjectDelete("H4 Label");
ObjectDelete("H4 Line");
ObjectDelete("H3 Label");
ObjectDelete("H3 Line");
ObjectDelete("L3 Label");
ObjectDelete("L3 Line");
ObjectDelete("L4 Label");
ObjectDelete("L4 Line");
ObjectDelete("M5 Label");
ObjectDelete("M5 Line");
ObjectDelete("M4 Label");
ObjectDelete("M4 Line");
ObjectDelete("M3 Label");
ObjectDelete("M3 Line");
ObjectDelete("M2 Label");
ObjectDelete("M2 Line");
ObjectDelete("M1 Label");
ObjectDelete("M1 Line");
ObjectDelete("M0 Label");
ObjectDelete("M0 Line");
//----
   return(0);
  }
//+------------------------------------------------------------------+
//| Custom indicator iteration function                              |
//+------------------------------------------------------------------+
int start()
  {


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

//---- exit if period is greater than daily charts
if(Period() > 1440)
{
Print("Error - Chart period is greater than 1 day.");
return(-1); // then exit
}

//---- Get new daily prices

ArrayCopyRates(rates_d1, Symbol(), PERIOD_D1);

yesterday_close = rates_d1[1][4];
yesterday_open = rates_d1[1][1];
today_open = rates_d1[0][1];
yesterday_high = rates_d1[1][3];
yesterday_low = rates_d1[1][2];
day_high = rates_d1[0][3];
day_low = rates_d1[0][2];


//---- Calculate Pivots

D = (day_high - day_low);
Q = (yesterday_high - yesterday_low);
P = (yesterday_high + yesterday_low + yesterday_close) / 3;
R1 = (2*P)-yesterday_low;
S1 = (2*P)-yesterday_high;
R2 = P+(yesterday_high - yesterday_low);
S2 = P-(yesterday_high - yesterday_low);

	H4 = (Q*0.55)+yesterday_close;
	H3 = (Q*0.27)+yesterday_close;
	R3 = (2*P)+(yesterday_high-(2*yesterday_low));
	M5 = (R2+R3)/2;
//	R2 = P-S1+R1;
	M4 = (R1+R2)/2;
//	R1 = (2*P)-yesterday_low;
	M3 = (P+R1)/2;
//	P = (yesterday_high + yesterday_low + yesterday_close)/3;
	M2 = (P+S1)/2;
//	S1 = (2*P)-yesterday_high;
	M1 = (S1+S2)/2;
//	S2 = P-R1+S1;
	S3 = (2*P)-((2* yesterday_high)-yesterday_low);
	L3 = yesterday_close-(Q*0.27);	
	L4 = yesterday_close-(Q*0.55);	
	M0 = (S2+S3)/2;

if (Q > 5) 
{
	nQ = Q;
}
else
{
	nQ = Q*10000;
}

if (D > 5)
{
	nD = D;
}
else
{
	nD = D*10000;
}


//Comment("High= ",yesterday_high,"    Previous Days Range= ",nQ,"\nLow= ",yesterday_low,"    Current Days Range= ",nD,"\nClose= ",yesterday_close);

double seco= (Time[4]-Time[5])-MathMod(CurTime(),Time[4]-Time[5]);
double minu=seco/60;
seco=(minu-MathFloor(minu))*60;
minu=MathFloor(minu);
  
Comment("High= ",yesterday_high,"    Previous Days Range= ",nQ,"\nLow= ",yesterday_low,"    Current Days Range= ",nD,"\nClose= ",yesterday_close,"\nTime for next bar: ",	minu," min ",seco," sec");

//---- Set line labels on chart window

//---- Pivot Lines
   if (pivots==true)
   {
      if(ObjectFind("R1 label") != 0)
      {
      ObjectCreate("R1 label", OBJ_TEXT, 0, Time[0], R1);
      ObjectSetText("R1 label", " R1", 8, "Arial", EMPTY);
      }
      else
      {
      ObjectMove("R1 label", 0, Time[0], R1);
      }

      if(ObjectFind("R2 label") != 0)
      {
      ObjectCreate("R2 label", OBJ_TEXT, 0, Time[0], R2);
      ObjectSetText("R2 label", " R2", 8, "Arial", EMPTY);
      }
      else
      {
      ObjectMove("R2 label", 0, Time[0], R2);
      }

      if(ObjectFind("R3 label") != 0)
      {
      ObjectCreate("R3 label", OBJ_TEXT, 0, Time[0], R3);
      ObjectSetText("R3 label", " R3", 8, "Arial", EMPTY);
      }
      else
      {
      ObjectMove("R3 label", 0, Time[0], R3);
      }

      if(ObjectFind("P label") != 0)
      {
      ObjectCreate("P label", OBJ_TEXT, 0, Time[0], P);
      ObjectSetText("P label", "Pivot  " +DoubleToStr(P,4), 8, "Arial", EMPTY);
      }
      else
      {
      ObjectMove("P label", 0, Time[0], P);
      }

      if(ObjectFind("S1 label") != 0)
      {
      ObjectCreate("S1 label", OBJ_TEXT, 0, Time[0], S1);
      ObjectSetText("S1 label", "S1", 8, "Arial", EMPTY);
      }
      else
      {
      ObjectMove("S1 label", 0, Time[0], S1);
      }

      if(ObjectFind("S2 label") != 0)
      {
      ObjectCreate("S2 label", OBJ_TEXT, 0, Time[0], S2);
      ObjectSetText("S2 label", "S2", 8, "Arial", EMPTY);
      }
      else
      {
      ObjectMove("S2 label", 0, Time[0], S2);
      }

      if(ObjectFind("S3 label") != 0)
      {
      ObjectCreate("S3 label", OBJ_TEXT, 0, Time[0], S3);
      ObjectSetText("S3 label", "S3", 8, "Arial", EMPTY);
      }
      else
      {
      ObjectMove("S3 label", 0, Time[0], S3);
      }

//---  Draw  Pivot lines on chart
      if(ObjectFind("S1 line") != 0)
      {
      ObjectCreate("S1 line", OBJ_HLINE, 0, Time[40], S1);
      ObjectSet("S1 line", OBJPROP_STYLE, STYLE_DASHDOTDOT);
      ObjectSet("S1 line", OBJPROP_COLOR, Red);
      }
      else
      {
      ObjectMove("S1 line", 0, Time[40], S1);
      //ObjectSet("S1 line", OBJPROP_COLOR, indicator_color1);
      }

      if(ObjectFind("S2 line") != 0)
      {
      ObjectCreate("S2 line", OBJ_HLINE, 0, Time[40], S2);
      ObjectSet("S2 line", OBJPROP_STYLE, STYLE_DASHDOTDOT);
      ObjectSet("S2 line", OBJPROP_COLOR, Red);
      }
      else
      {
      ObjectMove("S2 line", 0, Time[40], S2);
      }

      if(ObjectFind("S3 line") != 0)
      {
      ObjectCreate("S3 line", OBJ_HLINE, 0, Time[40], S3);
      ObjectSet("S3 line", OBJPROP_STYLE, STYLE_DASHDOTDOT);
      ObjectSet("S3 line", OBJPROP_COLOR, Red);
      }
      else
      {
      ObjectMove("S3 line", 0, Time[40], S3);
      }

      if(ObjectFind("P line") != 0)
      {
      ObjectCreate("P line", OBJ_HLINE, 0, Time[40], P);
      ObjectSet("P line", OBJPROP_STYLE, STYLE_DOT);
      ObjectSet("P line", OBJPROP_COLOR, Magenta);
      }
      else
      {
      ObjectMove("P line", 0, Time[40], P);
      }

      if(ObjectFind("R1 line") != 0)
      {
      ObjectCreate("R1 line", OBJ_HLINE, 0, Time[40], R1);
      ObjectSet("R1 line", OBJPROP_STYLE, STYLE_DASHDOTDOT);
      ObjectSet("R1 line", OBJPROP_COLOR, LimeGreen);
      }
      else
      {
      ObjectMove("R1 line", 0, Time[40], R1);
      }

      if(ObjectFind("R2 line") != 0)
      {
      ObjectCreate("R2 line", OBJ_HLINE, 0, Time[40], R2);
      ObjectSet("R2 line", OBJPROP_STYLE, STYLE_DASHDOTDOT);
      ObjectSet("R2 line", OBJPROP_COLOR, LimeGreen);
      }
      else
      {
      ObjectMove("R2 line", 0, Time[40], R2);
      }

      if(ObjectFind("R3 line") != 0)
      {
      ObjectCreate("R3 line", OBJ_HLINE, 0, Time[40], R3);
      ObjectSet("R3 line", OBJPROP_STYLE, STYLE_DASHDOTDOT);
      ObjectSet("R3 line", OBJPROP_COLOR, LimeGreen);
      }
      else
      {
      ObjectMove("R3 line", 0, Time[40], R3);
      }
   }
//---- End of Pivot Line Draw 


//----- Camarilla Lines

   if (camarilla==true)
   {
      if(ObjectFind("H4 label") != 0)
      {
      ObjectCreate("H4 label", OBJ_TEXT, 0, Time[0], H4);
      ObjectSetText("H4 label", " H4", 8, "Arial", EMPTY);
      }
      else
      {
      ObjectMove("H4 label", 0, Time[0], H4);
      }

      if(ObjectFind("H3 label") != 0)
      {
      ObjectCreate("H3 label", OBJ_TEXT, 0, Time[0], H3);
      ObjectSetText("H3 label", " H3", 8, "Arial", EMPTY);
      }
      else
      {
      ObjectMove("H3 label", 0, Time[0], H3);
      }

      if(ObjectFind("L3 label") != 0)
      {
      ObjectCreate("L3 label", OBJ_TEXT, 0, Time[0], L3);
      ObjectSetText("L3 label", " L3", 8, "Arial", EMPTY);
      }
      else
      {
      ObjectMove("L3 label", 0, Time[0], L3);
      }

      if(ObjectFind("L4 label") != 0)
      {
      ObjectCreate("L4 label", OBJ_TEXT, 0, Time[0], L4);
      ObjectSetText("L4 label", " L4", 8, "Arial", EMPTY);
      }
      else
      {
      ObjectMove("L4 label", 0, Time[0], L4);
      }

//---- Draw Camarilla lines on Chart
      if(ObjectFind("H4 line") != 0)
      {
      ObjectCreate("H4 line", OBJ_HLINE, 0, Time[40], H4);
      ObjectSet("H4 line", OBJPROP_STYLE, STYLE_DASHDOTDOT);
      ObjectSet("H4 line", OBJPROP_COLOR, Yellow);
      }
      else
      {
      ObjectMove("H4 line", 0, Time[40], H4);
      }

      if(ObjectFind("H3 line") != 0)
      {
      ObjectCreate("H3 line", OBJ_HLINE, 0, Time[40], H3);
      ObjectSet("H3 line", OBJPROP_STYLE, STYLE_DASHDOTDOT);
      ObjectSet("H3 line", OBJPROP_COLOR, Yellow);
      }
      else
      {
      ObjectMove("H3 line", 0, Time[40], H3);
      }

      if(ObjectFind("L3 line") != 0)
      {
      ObjectCreate("L3 line", OBJ_HLINE, 0, Time[40], L3);
      ObjectSet("L3 line", OBJPROP_STYLE, STYLE_DASHDOTDOT);
      ObjectSet("L3 line", OBJPROP_COLOR, Yellow);
      }
      else
      {
      ObjectMove("L3 line", 0, Time[40], L3);
      }

      if(ObjectFind("L4 line") != 0)
      {
      ObjectCreate("L4 line", OBJ_HLINE, 0, Time[40], L4);
      ObjectSet("L4 line", OBJPROP_STYLE, STYLE_DASHDOTDOT);
      ObjectSet("L4 line", OBJPROP_COLOR, Yellow);
      }
      else
      {
      ObjectMove("L4 line", 0, Time[40], L4);
      }
   }
//-------End of Draw Camarilla Lines

//------ Midpoints Pivots 

   if (midpivots==true)
   {

      if(ObjectFind("M5 label") != 0)
      {
      ObjectCreate("M5 label", OBJ_TEXT, 0, Time[0], M5);
      ObjectSetText("M5 label", " M5", 8, "Arial", EMPTY);
      }
      else
      {
      ObjectMove("M5 label", 0, Time[0], M5);
      }

      if(ObjectFind("M4 label") != 0)
      {
      ObjectCreate("M4 label", OBJ_TEXT, 0, Time[0], M4);
      ObjectSetText("M4 label", " M4", 8, "Arial", EMPTY);
      }
      else
      {
      ObjectMove("M4 label", 0, Time[0], M4);
      }

      if(ObjectFind("M3 label") != 0)
      {
      ObjectCreate("M3 label", OBJ_TEXT, 0, Time[0], M3);
      ObjectSetText("M3 label", " M3", 8, "Arial", EMPTY);
      }
      else
      {
      ObjectMove("M3 label", 0, Time[0], M3);
      }

      if(ObjectFind("M2 label") != 0)
      {
      ObjectCreate("M2 label", OBJ_TEXT, 0, Time[0], M2);
      ObjectSetText("M2 label", " M2", 8, "Arial", EMPTY);
      }
      else
      {
      ObjectMove("M2 label", 0, Time[0], M2);
      }

      if(ObjectFind("M1 label") != 0)
      {
      ObjectCreate("M1 label", OBJ_TEXT, 0, Time[0], M1);
      ObjectSetText("M1 label", " M1", 8, "Arial", EMPTY);
      }
      else
      {
      ObjectMove("M1 label", 0, Time[0], M1);
      }

      if(ObjectFind("M0 label") != 0)
      {
      ObjectCreate("M0 label", OBJ_TEXT, 0, Time[0], M0);
      ObjectSetText("M0 label", " M0", 8, "Arial", EMPTY);
      }
      else
      {
      ObjectMove("M0 label", 0, Time[0], M0);
      }
      
//---- Draw Midpoint Pivots on Chart
      if(ObjectFind("M5 line") != 0)
      {
      ObjectCreate("M5 line", OBJ_HLINE, 0, Time[40], M5);
      ObjectSet("M5 line", OBJPROP_STYLE, STYLE_DASHDOTDOT);
      ObjectSet("M5 line", OBJPROP_COLOR, Blue);
      }
      else
      {
      ObjectMove("M5 line", 0, Time[40], M5);
      }

      if(ObjectFind("M4 line") != 0)
      {
      ObjectCreate("M4 line", OBJ_HLINE, 0, Time[40], M4);
      ObjectSet("M4 line", OBJPROP_STYLE, STYLE_DASHDOTDOT);
      ObjectSet("M4 line", OBJPROP_COLOR, Blue);
      }
      else
      {
      ObjectMove("M4 line", 0, Time[40], M4);
      }

      if(ObjectFind("M3 line") != 0)
      {
      ObjectCreate("M3 line", OBJ_HLINE, 0, Time[40], M3);
      ObjectSet("M3 line", OBJPROP_STYLE, STYLE_DASHDOTDOT);
      ObjectSet("M3 line", OBJPROP_COLOR, Blue);
      }
      else
      {
      ObjectMove("M3 line", 0, Time[40], M3);
      }

      if(ObjectFind("M2 line") != 0)
      {
      ObjectCreate("M2 line", OBJ_HLINE, 0, Time[40], M2);
      ObjectSet("M2 line", OBJPROP_STYLE, STYLE_DASHDOTDOT);
      ObjectSet("M2 line", OBJPROP_COLOR, Blue);
      }
      else
      {
      ObjectMove("M2 line", 0, Time[40], M2);
      }

      if(ObjectFind("M1 line") != 0)
      {
      ObjectCreate("M1 line", OBJ_HLINE, 0, Time[40], M1);
      ObjectSet("M1 line", OBJPROP_STYLE, STYLE_DASHDOTDOT);
      ObjectSet("M1 line", OBJPROP_COLOR, Blue);
      }
      else
      {
      ObjectMove("M1 line", 0, Time[40], M1);
      }

      if(ObjectFind("M0 line") != 0)
      {
      ObjectCreate("M0 line", OBJ_HLINE, 0, Time[40], M0);
      ObjectSet("M0 line", OBJPROP_STYLE, STYLE_DASHDOTDOT);
      ObjectSet("M0 line", OBJPROP_COLOR, Blue);
      }
      else
      {
      ObjectMove("M0 line", 0, Time[40], M0);
      }

   }
//----End of Midpoint Pivots Draw
 
//---- End Of Program
   return(0);
//#include "comment.mq4"

  }
//+------------------------------------------------------------------+

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