RD-Pivot Lines_J_v1

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Author: Copyright � 2004, MetaQuotes Software Corp.
RD-Pivot Lines_J_v1

This script is designed for the MetaTrader 4 platform to automatically identify and plot key price levels on your trading charts. It primarily focuses on "Pivot Points," which are standard technical analysis markers used by traders to identify potential support and resistance zones based on historical price action.

Core Functionality

The script scans the daily performance of a specific currency pair or asset to calculate three distinct sets of price levels:

1. Standard Pivot Points These are the primary indicators used to determine the market's "center" for the day. The script calculates:

  • The Pivot (P): The central equilibrium point based on the previous day's high, low, and closing prices.
  • Resistance Levels (R1, R2, R3): These represent price ceilings where selling pressure might increase.
  • Support Levels (S1, S2, S3): These represent price floors where buying interest may emerge.

2. Camarilla Levels For traders who prefer a different style of volatility analysis, the script can also display Camarilla levels. These are specific price points often used by breakout traders to identify areas where the price might reverse or accelerate significantly during a trading session.

3. Midpoint Pivots The script offers an advanced layer of detail by calculating "Midpoints." These break down the space between the primary Pivot, Support, and Resistance lines into smaller sub-zones (labeled M0 through M5). This allows traders to see finer price increments and more granular zones of potential interaction.

How it Works on Your Chart

  • Automatic Data Fetching: The tool automatically pulls the high, low, open, and close prices from the previous day's daily candle to perform its calculations.
  • Visual Markers: It draws horizontal lines directly on your chart. Each type of line has a distinct color and style (e.g., solid dots for pivots, dashed lines for supports/resistances) to ensure they are easy to read at a glance.
  • Labels: Each line is accompanied by a text label so you can immediately identify which level you are looking at without having to hover over the data.
  • Dynamic Updates: The script monitors the current day's price movement and updates the visual information on the chart in real-time.
  • Information Display: It provides a text summary in the corner of the screen showing the previous day's range, the current day's range, and the current high/low prices to give you an instant snapshot of market volatility.

User Constraints

To ensure accuracy, the script requires that your chart timeframe be set to anything smaller than one day (e.g., 1-minute, 15-minute, 1-hour). If a larger timeframe is used, the script will alert you that it cannot calculate the data correctly.

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RD-Pivot Lines_J_v1 
/*-----------------------------+
|			       |
| Shared by www.Aptrafx.com    |
|			       |
+------------------------------*/

//+------------------------------------------------------------------+
//|                                                        Pivot.mq4 |
//|                      Copyright © 2004, MetaQuotes Software Corp. |
//|                                        http://www.metaquotes.net |
//+------------------------------------------------------------------+
#property copyright "Copyright © 2004, MetaQuotes Software Corp."
#property link      "http://www.metaquotes.net"

#property indicator_chart_window

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];

//+------------------------------------------------------------------+
//| Custom indicator initialization function                         |
//+------------------------------------------------------------------+
int init()
  {
//---- 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,"    ",day_high,"    Previous Days Range= ",nQ,"\nLow= ",yesterday_low,"    ",day_low,"    Current Days Range= ",nD,"\nClose= ",yesterday_close, "           Goodmorning JURGEN and Good Luck Trading!");

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

//---- Pivot Lines
   if (pivots==true)
   {
      if(ObjectFind("R1 label") != 0)
      {
      ObjectCreate("R1 label", OBJ_TEXT, 0, Time[20], R1);
      ObjectSetText("R1 label", " R1", 8, "Arial", White);
      }
      else
      {
      ObjectMove("R1 label", 0, Time[20], R1);
      }

      if(ObjectFind("R2 label") != 0)
      {
      ObjectCreate("R2 label", OBJ_TEXT, 0, Time[20], R2);
      ObjectSetText("R2 label", " R2", 8, "Arial", White);
      }
      else
      {
      ObjectMove("R2 label", 0, Time[20], R2);
      }

      if(ObjectFind("R3 label") != 0)
      {
      ObjectCreate("R3 label", OBJ_TEXT, 0, Time[20], R3);
      ObjectSetText("R3 label", " R3", 8, "Arial", White);
      }
      else
      {
      ObjectMove("R3 label", 0, Time[20], R3);
      }

      if(ObjectFind("P label") != 0)
      {
      ObjectCreate("P label", OBJ_TEXT, 0, Time[20], P);
      ObjectSetText("P label", "Pivot", 8, "Arial", White);
      }
      else
      {
      ObjectMove("P label", 0, Time[20], P);
      }

      if(ObjectFind("S1 label") != 0)
      {
      ObjectCreate("S1 label", OBJ_TEXT, 0, Time[20], S1);
      ObjectSetText("S1 label", "S1", 8, "Arial", White);
      }
      else
      {
      ObjectMove("S1 label", 0, Time[20], S1);
      }

      if(ObjectFind("S2 label") != 0)
      {
      ObjectCreate("S2 label", OBJ_TEXT, 0, Time[20], S2);
      ObjectSetText("S2 label", "S2", 8, "Arial", White);
      }
      else
      {
      ObjectMove("S2 label", 0, Time[20], S2);
      }

      if(ObjectFind("S3 label") != 0)
      {
      ObjectCreate("S3 label", OBJ_TEXT, 0, Time[20], S3);
      ObjectSetText("S3 label", "S3", 8, "Arial", White);
      }
      else
      {
      ObjectMove("S3 label", 0, Time[20], 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);
      }

      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[20], H4);
      ObjectSetText("H4 label", " H4", 8, "Arial", White);
      }
      else
      {
      ObjectMove("H4 label", 0, Time[20], H4);
      }

      if(ObjectFind("H3 label") != 0)
      {
      ObjectCreate("H3 label", OBJ_TEXT, 0, Time[20], H3);
      ObjectSetText("H3 label", " H3", 8, "Arial", White);
      }
      else
      {
      ObjectMove("H3 label", 0, Time[20], H3);
      }

      if(ObjectFind("L3 label") != 0)
      {
      ObjectCreate("L3 label", OBJ_TEXT, 0, Time[20], L3);
      ObjectSetText("L3 label", " L3", 8, "Arial", White);
      }
      else
      {
      ObjectMove("L3 label", 0, Time[20], L3);
      }

      if(ObjectFind("L4 label") != 0)
      {
      ObjectCreate("L4 label", OBJ_TEXT, 0, Time[20], L4);
      ObjectSetText("L4 label", " L4", 8, "Arial", White);
      }
      else
      {
      ObjectMove("L4 label", 0, Time[20], 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[20], M5);
      ObjectSetText("M5 label", " M5", 8, "Arial", White);
      }
      else
      {
      ObjectMove("M5 label", 0, Time[20], M5);
      }

      if(ObjectFind("M4 label") != 0)
      {
      ObjectCreate("M4 label", OBJ_TEXT, 0, Time[20], M4);
      ObjectSetText("M4 label", " M4", 8, "Arial", White);
      }
      else
      {
      ObjectMove("M4 label", 0, Time[20], M4);
      }

      if(ObjectFind("M3 label") != 0)
      {
      ObjectCreate("M3 label", OBJ_TEXT, 0, Time[20], M3);
      ObjectSetText("M3 label", " M3", 8, "Arial", White);
      }
      else
      {
      ObjectMove("M3 label", 0, Time[20], M3);
      }

      if(ObjectFind("M2 label") != 0)
      {
      ObjectCreate("M2 label", OBJ_TEXT, 0, Time[20], M2);
      ObjectSetText("M2 label", " M2", 8, "Arial", White);
      }
      else
      {
      ObjectMove("M2 label", 0, Time[20], M2);
      }

      if(ObjectFind("M1 label") != 0)
      {
      ObjectCreate("M1 label", OBJ_TEXT, 0, Time[20], M1);
      ObjectSetText("M1 label", " M1", 8, "Arial", White);
      }
      else
      {
      ObjectMove("M1 label", 0, Time[20], M1);
      }

      if(ObjectFind("M0 label") != 0)
      {
      ObjectCreate("M0 label", OBJ_TEXT, 0, Time[20], M0);
      ObjectSetText("M0 label", " M0", 8, "Arial", White);
      }
      else
      {
      ObjectMove("M0 label", 0, Time[20], 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);
  }
//+------------------------------------------------------------------+

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