This script is a specialized trading tool designed for the MetaTrader 4 platform. Its primary purpose is to automatically identify and visualize specific structural patterns in price action—specifically trends and potential price levels—by calculating geometric relationships between historical market highs and lows.
Core Logic and Functionality
The script operates by scanning historical price data to find significant "fractals" (turning points where the price reaches a peak or valley relative to its surroundings). Once these points are identified, the logic follows these steps:
1. Timeframe and Anchor Point Identification The tool first determines the current timeframe (e.g., 5-minute, Hourly, Daily) and looks for a specific "anchor bar." This is the starting point from which the script begins its primary geometric calculations. It ensures the chart has enough historical data to perform these calculations accurately; if the history is too short, it will notify the user.
2. Peak and Valley Detection The script searches backward through the price history to locate two significant structural points:
- Point A: A major high or low point.
- Point B: A subsequent opposite high or low point. The distance between these two points is used to calculate a "Step"—a consistent price increment that defines the trajectory of the trend.
3. Trend Projection and Geometry Once the Step is established, the script calculates a projected path. It doesn't just draw a simple line; it creates a geometric framework consisting of:
- Primary Trendlines: These represent the main trajectory of price movement based on the detected high/low points.
- Secondary Projections: The script calculates "parallel" paths to project where the price might go next based on the established Step.
- Midline Indicators: It identifies a centerline (the midpoint between the primary and secondary projections), which can act as a neutral zone or balance point for the current trend.
4. Visual Feedback The script provides real-time visual feedback by drawing several types of objects directly on your chart:
- Solid Trendlines: Bold lines showing the most likely current path of the market.
- Dotted Lines: Representing projected future paths or secondary levels.
- Color Coding: It uses distinct colors (such as Tomato and Green) to differentiate between the primary trend, its projections, and the historical "trace" of where the trend originated.
Summary for the User
Essentially, this script acts as an automated "trend architect." Instead of you manually trying to connect highs and lows to see where the market is heading, the script finds the most mathematically significant turning points, calculates the consistent "step" of the current move, and draws a geometric map of the trend. This map includes both the main path and the secondary "shadow" paths, helping you visualize potential support and resistance levels based on the geometry of past price action.
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SHI_Mod_vLine_v2
//+------------------------------------------------------------------+
//| SHI_Mod_vLine.mq4 |
//| Copyright © 2004, Shurka & Kevin |
//| Corrected&Upgraded by Modest |
//| Additional idea Rosh |
//+------------------------------------------------------------------+
// Modest- è?ï?àâë?? àë?î?è?? ?à?î????è? îïî??îé ?î÷êè ?????
// î??à??????û?è ô?àê?àëà?è ?ë? ïî???î??è? ëè?èè êà?àëà
// ?î?àâë??à âîç?î??î??ü ????è?îâà?è? ?à è??î?èè ï?è ïî?îùè ï?î??à??û MetaClick.
// I?è ????è?îâà?èè ëè?èè êà?àëà ï?î?îë?à???? â ???????
// A???è? SHI_Mod_vLine: ï?????ù??è? â???î ïî???î??è? ï???? ï????à?êèâà?è? VLINE -è??? Rosh'a
#property copyright "Copyright © 2004, Shurka & Kevin "
#property link ""
#property indicator_chart_window
#property indicator_buffers 2
#property indicator_color1 Red
double ExtMapBuffer1[];
double UpLabel[];
extern int BarsForFract=0;
int CurrentBar=0;
double Step=0;
int B1=-1,B2=-1,iB1=0,iB2=0,flag=0;
int UpDown=0;
double P1=0,P2=0,PP=0,P1f=0,PPf=0;
int i=0,AB=300,BFF=0;
int ishift=0;
double iprice=0;
datetime T1,T2,Tf,myTime;
string fileNAME;
int myYear,myMonth,myDay,myHour,myMinute;
//+------------------------------------------------------------------+
//| Custom indicator initialization function |
//+------------------------------------------------------------------+
int init()
{
//---- indicators
SetIndexStyle(0,DRAW_ARROW);
SetIndexArrow(0,164);
SetIndexBuffer(0,ExtMapBuffer1);
SetIndexEmptyValue(0,0.0);
SetIndexStyle(1,DRAW_ARROW,EMPTY,1,Blue);
SetIndexBuffer(1,UpLabel);
SetIndexArrow(1, 251);
SetIndexEmptyValue(1,0);
return(0);
}
//+------------------------------------------------------------------+
//| Custor indicator deinitialization function |
//+------------------------------------------------------------------+
int deinit()
{
//----
FileDelete(fileNAME);
//----
return(0);
}
void DelObj()
{
ObjectDelete("TL1"); ObjectDelete("TL2"); ObjectDelete("MIDL");
ObjectDelete("Lab1");ObjectDelete("Lab2");ObjectDelete("Lab3");
ObjectDelete("TL1f");ObjectDelete("TL2f");
//ObjectDelete("MyBarLine");
}
//+------------------------------------------------------------------+
//| Custom indicator iteration function |
//+------------------------------------------------------------------+
int start()
{
double iPP,Lab1Val,Lab2Val,Lab3Val;
int MyBar,lastBarTime,h1,ii;
string v1,fileFrame;
ObjectCreate("MyBarLine",OBJ_VLINE,0,Time[1],High[1]);
ObjectSet("MyBarLine",OBJPROP_COLOR,MediumOrchid);
ObjectSet("MyBarLine",OBJPROP_WIDTH,1);
ObjectSet("MyBarLine",OBJPROP_STYLE,STYLE_DOT);
//****************************************************************************************
// ×???è? ?à??û? (???îêà) èç â??????î ôàéëà, ?ôî??è?îâà??î?î ï?î??à??îé MetaClick,
// ï??¸? ?ûêà â ?à? (Z+LeftMouse) ?êàçûâà?ù?é â????, ?î êî?î?î?î ???îè??? è??èêà?î?.
// Eù?? ????ûé ?î??? ?à?à
//****************************************************************************************
/* // A??îé â???èè MetaClick ?? è?ïîëüç?????
switch (Period()) // Oî??è?îâà?è? ÷à??è è???è â??????î ôàéëà
{
case PERIOD_M1: fileFrame=",M1";break;
case PERIOD_M5: fileFrame=",M5";break;
case PERIOD_M15: fileFrame=",M15";break;
case PERIOD_M30: fileFrame=",M30";break;
case PERIOD_H1: fileFrame=",H1";break;
case PERIOD_H4: fileFrame=",H4";break;
case PERIOD_D1: fileFrame=",Daily";break;
case PERIOD_W1: fileFrame=",Weekly";break;
case PERIOD_MN1: fileFrame=",Monthly";break;
}
fileNAME=Symbol()+fileFrame+".csv";
h1=FileOpen(Symbol()+fileFrame+".csv",FILE_CSV,";");
v1 = FileReadString(h1);
FileClose(h1);
Comment(v1);
lastBarTime=StrToTime(v1);
i=0;
while (i<=Bars-1 )
{if (lastBarTime==Time[i])
{ MyBar=i;break;}
i++;
}
*/
//**^^^*****^^ Càêî?÷èëè è?êà?ü ïî?ë???èé ?à? ?ë? ïî???î??è? è??èêà?î?à ****************
myTime=ObjectGet("MyBarLine",OBJPROP_TIME1);
if(myTime>Time[0] || myTime< Time[Bars-1])
{ObjectDelete("MyBarLine"); Alert("SHI_Mod_vLine: TimeFrames are not correct"); return(0); }
myYear=TimeYear(myTime); myMonth=TimeMonth(myTime);myDay=TimeDay(myTime);
myHour=TimeHour(myTime); myMinute=TimeMinute(myTime);
// ?ë? âîç?î??î?è ï???êë?÷??è? ?àé?ô??é?îâ I??I?I E ?I?I ?? ??AOEEA ?à?î âû?îâ???ü
// â???? ?à?ïîëî???è? â???èêàëü?îé ëè?èè ?à ??à?è?? ??à????î ?àé?ô??é?à.
if (Period()==PERIOD_MN1 || Period()==PERIOD_W1)
{Alert("SHI_Mod_vLine can''t work with Weekly and Monthly charts");
ObjectDelete("MyBarLine"); return(0);}
switch (Period()) //
{
case PERIOD_M1: break;
case PERIOD_M5: myMinute=MathFloor(myMinute/5)*5; break;
case PERIOD_M15: myMinute=MathFloor(myMinute/15)*15; break;
case PERIOD_M30: myMinute=MathFloor(myMinute/30)*30; break;
case PERIOD_H1: myMinute=0; break;
case PERIOD_H4: myHour=MathFloor(myHour/4)*4; myMinute=0; break;
case PERIOD_D1: myHour=0; myMinute=0; break;
case PERIOD_W1: /*i=0; while(i<=Bars-1)
{
if (TimeYear(Time[i])==myYear && TimeMonth(Time[i])==myMonth &&
myDay-TimeDay(Time[i])<=6 && myDay-TimeDay(Time[i])>=0)
myDay=TimeDay(Time[i]); break;
i++; //??ï?àâèëü?î!!
}*/
break;
case PERIOD_MN1: break;
}
ObjectDelete("MyBarLine");
myTime=StrToTime(myYear + "." + myMonth + "." + myDay + " " + myHour + ":" + myMinute);
ObjectCreate("MyBarLine",OBJ_VLINE,0,myTime,High[0]);
ObjectSet("MyBarLine",OBJPROP_COLOR,MediumOrchid);
ObjectSet("MyBarLine",OBJPROP_WIDTH,1);
ObjectSet("MyBarLine",OBJPROP_STYLE,STYLE_DOT);
//I?ëà?êà
/*
Alert(myYear + "." + myMonth + "." + myDay + " " + myHour + ":" + myMinute);
myYear=TimeYear(myTime); myMonth=TimeMonth(myTime);myDay=TimeDay(myTime);
myHour=TimeHour(myTime); myMinute=TimeMinute(myTime);
Alert(myYear + "." + myMonth + "." + myDay + " " + myHour + ":" + myMinute);
*/
//return(0);
i=0;
while(Time[i]!=myTime) {i++;}
MyBar=i;
ArrayInitialize(UpLabel,0.0);
if (Bars<MyBar+303) {Alert("Too little history");return(-1);}
int counted_bars=IndicatorCounted();
//----
//if(Bars<AllBars) AllBars=Bars; //return(-1);
//if(AllBars<AB) {Comment("?àëî ?à?îâ"); return(-1);}
//Alert("MyBar=",MyBar);
//if ((AllBars==0) || (Bars<AllBars)) AB=Bars; else AB=AllBars; //AB-êîëè÷???âî î??÷è?ûâà??û? ?à?îâ
if (BarsForFract>0)
BFF=BarsForFract;
else
{
switch (Period())
{
case 1: BFF=12; break;
case 5: BFF=48; break;
case 15: BFF=24; break;
case 30: BFF=24; break;
case 60: BFF=12; break;
case 240: BFF=15; break;
case 1440: BFF=10; break;
case 10080: BFF=6; break;
default: DelObj(); return(-1); break;
}
}
CurrentBar=2+MyBar; //?÷è?à?? ? ????ü??î ?à?à, ÷?î?û ô?àê?àë "çàê??ïèë??
B1=-1; B2=-1; UpDown=0; flag=0;
while(((B1==-1) || (B2==-1)) && (CurrentBar<(AB+MyBar)))
{
//UpDown=1 ç?à÷è? ï??âûé ô?àê?àë ?àé??? ?â????, UpDown=-1 ç?à÷è? ï??âûé ô?àê?àë
//?àé??? ??èç?, UpDown=0 ç?à÷è? ô?àê?àë ?ù¸ ?? ?àé???.
//A1 è A2 - ?î???à ?à?îâ ? ô?àê?àëà?è, ÷???ç ?è? ???îè? îïî???? ëè?è?.
//?1 è ?2 - ?îî?â????â???î ???û ÷???ç êî?î?û? ????? ëè?è? ï?îâî?è?ü
// if (CurrentBar==4 ) Alert("CurrentBar=",CurrentBar," ","BFF=",BFF);
if((UpDown<1) && (CurrentBar==Lowest(Symbol(),Period(),MODE_LOW,BFF*2+1,CurrentBar-BFF)))
// Aû?à???è? CurrentBar-BFF ?î??? ?û?ü â ?à? ?ë?÷à? î??è?à??ëü?û?. ?î â?î?? ?à?î?à??
{
if(UpDown==0) { UpDown=-1; B1=CurrentBar; iB1=CurrentBar; P1=Low[B1];}
else { B2=CurrentBar; iB2=CurrentBar; P2=Low[B2];}
}
if((UpDown>-1) && (CurrentBar==Highest(Symbol(),Period(),MODE_HIGH,BFF*2+1,CurrentBar-BFF)))
{
if(UpDown==0) { UpDown=1; B1=CurrentBar; iB1=CurrentBar; P1=High[B1];}
else { B2=CurrentBar; iB2=CurrentBar; P2=High[B2];}
}
CurrentBar++;
}
if((B1==-1) || (B2==-1)) {DelObj(); return(-1);} // C?à÷è? ?? ?à?ëè ô?àê?àëîâ ????è 300 ?à?îâ 8-)
Step=(P2-P1)/(B2-B1);//Aû÷è?ëèëè ?à?, ??ëè î? ïîëî?è??ëü?ûé, ?î êà?àë ?è??î??ùèé
P1=P1-(B1-MyBar)*Step; B1=0+MyBar;//ï?????àâë??? ???? è ï??âûé ?à? ê ??ë? (ç?à÷??è? îïî??îé ëè?èè ?à 0 ?à??)
//A ??ï??ü îïî???? ?î÷ê? ï?î?èâîïîëî??îé ëè?èè êà?àëà.
ishift=0+MyBar; iprice=0;
//Alert(UpDown);
if(UpDown==1)
{
// E?ï?àâë??î!! Iïî???? ?î÷ê? ????? è?êà?ü ????? î??à??????û?è ô?àê?àëà?è,
// à ?? ? 0-?î (MyBar) ?à?à. iB1-??î ?? èç??????ûé B1
//PP=Low[2+MyBar]-(2)*Step;
PP=Low[2+iB1]-(2)*Step;
iPP=Low[2+iB1]-(2)*Step;
ii=2+iB1;
//for(i=3+MyBar;i<=B2;i++)
for(i=3+iB1;i<=B2;i++)
{
//if(Low[i]<PP+Step*(i-MyBar)) { PP=Low[i]-(i-MyBar)*Step; ii=i;}
if(Low[i]<iPP+Step*(i-iB1))
//PP-ç?à÷??è? ëè?èè ?à ïî?ë????? ?à??
// iPP-ç?à÷??è? ëè?èè ?à ?à?? iB1 -ï?àâûé ô?àê?àë
{ PP=Low[i]-(i-MyBar)*Step; ii=i;
iPP=Low[i]-(i-iB1)*Step;
}
}
//Alert(iB1," ",iB2," ",ii," ","Step=",Step," ","PP=",PP);
//Lab1Val=(High[iB1]+5*Point); Lab2Val=(High[iB2]+5*Point); Lab3Val=(Low[ii]-5*Point);
UpLabel[iB1]=High[iB1]+5*Point;
UpLabel[iB2]=High[iB2]+5*Point;
UpLabel[ii]=Low[ii]-5*Point;
//Alert(iB1," ",ii," ",iB2," ","Step=",Step," ","PP=",PP," ","Lab1Val=",Lab1Val);
if(Low[0+MyBar]<PP) {ishift=0+MyBar; iprice=PP;}
if(Low[1+MyBar]<PP+Step) {ishift=1+MyBar; iprice=PP+Step;}
if(High[0+MyBar]>P1) {ishift=0+MyBar; iprice=P1;}
if(High[1+MyBar]>P1+Step) {ishift=1+MyBar; iprice=P1+Step;}
}
else //????? â?èç
{
PP=High[2+MyBar]-(2)*Step;
iPP=High[2+iB1]-(2)*Step;
ii=2+iB1;
//for(i=3+MyBar;i<=B2;i++)
for(i=3+iB1;i<=B2;i++)
{
if(High[i]>iPP+Step*(i-iB1)) { PP=High[i]-(i-MyBar)*Step;ii=i;
iPP=High[i]-(i-iB1)*Step;
} //èù?? ç?à÷??è? â?????é ëè?èè ?à 0 ?à??
}
//Lab1Val=(Low[iB1]-5*Point);Lab2Val=(Low[iB2]-5*Point);Lab3Val=(High[ii]+5*Point);
UpLabel[iB1]=Low[iB1]-5*Point;
UpLabel[iB2]=Low[iB2]-5*Point;
UpLabel[ii]=High[ii]+5*Point;
//Alert(iB1," ",iB2," ","ii=",ii," ","Step=",Step," ","PP=",PP," ",
// "Lab1Val=",Lab1Val,"Lab3Val=",Lab3Val);
// îï????ë???, ?ûëî ëè ï?????÷??è? ëè?èé êà?àëà ?à 0 èëè 1 ?à?à?(÷?î?û ??àâè?ü ï?è??)
if(Low[0+MyBar]<P1) {ishift=0+MyBar; iprice=P1;}
if(Low[1+MyBar]<P1+Step) {ishift=1+MyBar; iprice=P1+Step;}
if(High[0+MyBar]>PP) {ishift=0+MyBar; iprice=PP;}
if(High[1+MyBar]>PP+Step) {ishift=1+MyBar; iprice=PP+Step;}
}
//??ï??ü ï?????àâè? êî??÷??? ???? è ?à? ?à AA, ÷?î?û ëè?èè êà?àëà ?è?îâàëè?ü ïî?ëè????
P2=P1+AB*Step;
T1=Time[B1]; T2=Time[AB+MyBar];
//??ëè ?? ?ûëî ï?????÷??è? êà?àëà, ?î 0, è?à÷? ??àâè? ï?è??.
//if(iprice!=0) ExtMapBuffer1[ishift]=iprice;
DelObj();
//Alert("B1=",B1," ","B2=",AB+MyBar," ","AB=",AB," ","MyBar=",MyBar);
// Alert("T1=",T1," ","T2=",T2);
//***************************************** ?è???? ëè?èè êà?àëà ************************
ObjectCreate("TL1",OBJ_TREND,0,T2,PP+Step*(AB),T1,PP);
ObjectSet("TL1",OBJPROP_COLOR,Tomato);
ObjectSet("TL1",OBJPROP_WIDTH,2);
ObjectSet("TL1",OBJPROP_STYLE,STYLE_SOLID);
ObjectSet("TL1",OBJPROP_RAY,False);
ObjectCreate("TL2",OBJ_TREND,0,T2,P2,T1,P1);
ObjectSet("TL2",OBJPROP_COLOR,Tomato);
ObjectSet("TL2",OBJPROP_WIDTH,2);
ObjectSet("TL2",OBJPROP_STYLE,STYLE_SOLID);
ObjectSet("TL2",OBJPROP_RAY,False);
ObjectCreate("MIDL",OBJ_TREND,0,T2,(P2+PP+Step*AB)/2,T1,(P1+PP)/2);
ObjectSet("MIDL",OBJPROP_COLOR,Tomato);
ObjectSet("MIDL",OBJPROP_WIDTH,1);
ObjectSet("MIDL",OBJPROP_STYLE,STYLE_DOT);
ObjectSet("MIDL",OBJPROP_RAY,False);
//*********************************** ?è???? ï?î?îë???è? êà?àëà ************************
if (MyBar>30) {Tf=Time[MyBar-30];
PPf=PP-Step*30; P1f=P1-Step*30;
}
else {Tf=Time[0];PPf=PP-Step*MyBar; P1f=P1-Step*MyBar;
}
ObjectCreate("TL1f",OBJ_TREND,0,T1,PP,Tf,PPf);
ObjectSet("TL1f",OBJPROP_COLOR,Green);
ObjectSet("TL1f",OBJPROP_WIDTH,1);
ObjectSet("TL1f",OBJPROP_STYLE,STYLE_DOT);
ObjectSet("TL1f",OBJPROP_RAY,False);
ObjectCreate("TL2f",OBJ_TREND,0,T1,P1,Tf,P1f);
ObjectSet("TL2f",OBJPROP_COLOR,Green);
ObjectSet("TL2f",OBJPROP_WIDTH,1);
ObjectSet("TL2f",OBJPROP_STYLE,STYLE_DOT);
ObjectSet("TL2f",OBJPROP_RAY,False);
//************************* I???÷à?? êëèê???ûé ?à? ************************************
/*if (MyBar>0)
{
ObjectCreate("MyBarLine",OBJ_VLINE,0,Time[MyBar],High[MyBar]);
ObjectSet("MyBarLine",OBJPROP_COLOR,MediumOrchid);
ObjectSet("MyBarLine",OBJPROP_WIDTH,1);
ObjectSet("MyBarLine",OBJPROP_STYLE,STYLE_DOT);
}
*/
//----
return(0);
}
//+------------------------------------------------------------------+
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