SR_Barry_Eli_MTF_ammended

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Author: Copyright � 2006, Eli hayun
SR_Barry_Eli_MTF_ammended

This script is designed as a multi-timeframe technical analysis tool for the MetaTrader 4 platform. Its primary purpose is to identify and display significant historical price turning points—specifically "Fractals"—across multiple timeframes simultaneously on a single chart.

Core Functionality

The tool acts as a high-level visual aid for traders who want to see "higher" structural support and resistance levels without constantly switching between different charts (such as moving from a 1-minute chart to a 4-hour chart). It automatically calculates where the price peaked or bottomed out on larger timeframes and projects those points onto your current view.

How the Logic Works

  1. Multi-Timeframe Synchronization: The script monitors four distinct time periods at once (customizable by the user, such as 5-minute, 15-minute, 1-hour, and 4-hour intervals). It calculates the price action for these periods even if you are currently viewing a much smaller timeframe.
  2. Fractal Identification: The logic utilizes the "Fractals" method to detect structural extremes. It looks for specific patterns where the price reaches a local high or low relative to its neighbors.
    • High Fractals represent potential Resistance (areas where price struggled to move higher).
    • Low Fractals represent potential Support (areas where price found a floor).
  3. Data Projection: Because the script is looking at larger timeframes, it performs a "mapping" process. It takes the significant high/low points from those larger periods and maps them back to the current candles on your screen. This allows you to see historical "walls" of resistance or support that might otherwise be invisible on a smaller timeframe.
  4. Visual Representation: The script renders these levels as specific symbols (arrows) on your chart. It distinguishes between the different timeframes using different colors and labels, allowing you to visually differentiate between, for example, a 1-hour resistance level versus a Daily resistance level.

Key Features for the User

  • Persistence: Once a significant fractal point is identified on a larger timeframe, the script "remembers" that price level. This ensures that even if the current price moves away from it, the historical level remains visible as a reference point.
  • Dynamic Scaling: The script includes logic to ensure it only calculates data for timeframes larger than or equal to the one you are currently viewing, preventing visual clutter and ensuring mathematical accuracy.
  • Customization: Users can toggle specific timeframes on or off, allowing for a clean workspace tailored to their specific trading strategy (e.g., only showing Daily and 4-Hour levels while ignoring smaller fluctuations).

Summary

In essence, this script provides a "macro" view of the market's skeleton. By highlighting where the price has historically reversed on multiple timeframes simultaneously, it helps traders identify major zones of interest, helping them avoid "trading into" significant resistance or missing out on strong support levels.

Indicators Used
Fractals
Miscellaneous
Implements a curve of type %1
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SR_Barry_Eli_MTF_ammended 
//+------------------------------------------------------------------+
//|                                                      #MTF SR.mq4 |
//|                                      Copyright © 2006, Eli hayun |
//|                                          http://www.elihayun.com |
//+------------------------------------------------------------------+
//updated2008fxtsd    ki
//Ammended 2009 Limstylz
#property copyright "Copyright © 2006, Eli hayun"
#property link      "http://www.elihayun.com"

#property indicator_chart_window
#property indicator_buffers 8
#property indicator_color1 DarkGreen
#property indicator_color2 DarkOrange
#property indicator_color3 DarkBlue
#property indicator_color4 Maroon
#property indicator_color5 Blue
#property indicator_color6 Red
#property indicator_color7 PowderBlue
#property indicator_color8 LightPink

//#property indicator_width1 3
//#property indicator_width2 3
//#property indicator_width3 2
//#property indicator_width4 2
//#property indicator_width5 1
//#property indicator_width6 1
//#property indicator_width7 1
//#property indicator_width8 1



//---- buffers
double buf_up1D[];
double buf_down1D[];

double buf_up4H[];
double buf_down4H[];

double buf_up1H[];
double buf_down1H[];

double buf_up30M[];
double buf_down30M[];

extern int Period_1 = 5;
extern int Period_2 = 15;
extern int Period_3 = 30;
extern int Period_4 = 60;


extern bool display_Period_1 = true;
extern bool display_Period_2 = true;
extern bool display_Period_3 = true;
extern bool display_Period_4 = true;

extern string note_timeFrames = "M1;5,15,30,60H1;240H4;1440D1;10080W1;43200MN|0-currentTF";

//extern bool Play_Sound = true;
//int UniqueNum = 22841;

//+------------------------------------------------------------------+
//| Custom indicator initialization function                         |
//+------------------------------------------------------------------+
int init()
  {
//---- indicators

   
   int draw = DRAW_ARROW; if (!display_Period_4) draw = DRAW_NONE;
   SetIndexStyle(0,draw);
   SetIndexArrow(0,167);
   SetIndexStyle(1,draw);
   SetIndexArrow(1,167);
   
   SetIndexBuffer(0,buf_up1D);
   SetIndexBuffer(1,buf_down1D);
   SetIndexLabel(0, "S "+tf2txt(Period_4)); SetIndexLabel(1,"R "+tf2txt(Period_4));
   
   draw = DRAW_ARROW; if (!display_Period_3) draw = DRAW_NONE;
   SetIndexStyle(2,draw);
   SetIndexArrow(2,167);
   SetIndexStyle(3,draw);
   SetIndexArrow(3,167);

   SetIndexBuffer(2,buf_up4H);
   SetIndexBuffer(3,buf_down4H);
   SetIndexLabel(2,"S "+ tf2txt(Period_3)); SetIndexLabel(3,"R "+ tf2txt(Period_3));


   draw = DRAW_ARROW; if (!display_Period_2) draw = DRAW_NONE;
   SetIndexStyle(4,draw);
   SetIndexArrow(4,167);
   SetIndexStyle(5,draw);
   SetIndexArrow(5,167);

   SetIndexBuffer(4,buf_up1H);
   SetIndexBuffer(5,buf_down1H);
   SetIndexLabel(4, "S "+tf2txt(Period_2)); SetIndexLabel(5,"R "+ tf2txt(Period_2));

   draw = DRAW_ARROW; if (!display_Period_1) draw = DRAW_NONE;
   SetIndexStyle(6,draw);
   SetIndexArrow(6,167);
   SetIndexStyle(7,draw);
   SetIndexArrow(7,167);

   SetIndexBuffer(6,buf_up30M);
   SetIndexBuffer(7,buf_down30M);
   SetIndexLabel (6,"S "+ tf2txt(Period_1)); SetIndexLabel(7,"R "+ tf2txt(Period_1));

Period_1= MathMax (Period_1,Period());
Period_2= MathMax (Period_2,Period());
Period_3= MathMax (Period_3,Period());
Period_4= MathMax (Period_4,Period());

//----
   return(0);
  }
//+------------------------------------------------------------------+
//| Custom indicator deinitialization function                       |
//+------------------------------------------------------------------+
int deinit()
  {
//----
   
//----
   return(0);
  }
//+------------------------------------------------------------------+
//| Custom indicator iteration function                              |
//+------------------------------------------------------------------+
int start()
  {
   RefreshRates();
   int    counted_bars=IndicatorCounted();
   int i=0, y1d=0, y4h=0, y1h=0, y30m=0;
   
   int limit=Bars-counted_bars;
   limit = MathMax (limit,Period_4/Period());
   limit = MathMax (limit,Period_3/Period());
   limit = MathMax (limit,Period_2/Period());
   limit = MathMax (limit,Period_1/Period());

   double pd_1=0, pd_2=0, pd_3=0, pd_4=0;
   double pu_1=0, pu_2=0, pu_3=0, pu_4=0;
   
   datetime TimeArray_1D[] ,TimeArray_4H[], TimeArray_1H[], TimeArray_30M[];
//----
   ArrayCopySeries(TimeArray_1D,MODE_TIME,Symbol(),Period_4); 
   ArrayCopySeries(TimeArray_4H,MODE_TIME,Symbol(),Period_3); 
   ArrayCopySeries(TimeArray_1H,MODE_TIME,Symbol(),Period_2); 
   ArrayCopySeries(TimeArray_30M,MODE_TIME,Symbol(),Period_1);
      
   for(i=0, y1d=0,  y4h=0,  y1h=0,  y30m=0; i<limit;i++)
   {
      if (Time[i]<TimeArray_1D[y1d]) y1d++;
      if (Time[i]<TimeArray_4H[y4h]) y4h++;
      if (Time[i]<TimeArray_1H[y1h]) y1h++;
      if (Time[i]<TimeArray_30M[y30m]) y30m++;
      
      double fh = iFractals( NULL, Period_4, MODE_HIGH, y1d);
            
      buf_up1D[i] = fh; 
      buf_down1D[i] = iFractals( NULL, Period_4, MODE_LOW, y1d);
      
      buf_up4H[i] = iFractals( NULL, Period_3, MODE_HIGH, y4h); 
      buf_down4H[i] = iFractals( NULL, Period_3, MODE_LOW, y4h);

      
      buf_up1H[i] = iFractals( NULL, Period_2, MODE_HIGH, y1h);
      buf_down1H[i] = iFractals( NULL, Period_2, MODE_LOW, y1h);
      
      
      buf_up30M[i] = iFractals( NULL, Period_1, MODE_HIGH, y30m);
      buf_down30M[i] = iFractals( NULL, Period_1, MODE_LOW, y30m);

   }
   
   for (i=limit; i>=0; i--)
   {
      if (   buf_up1D[i] == 0 )   buf_up1D[i] = pu_1; else  pu_1 = buf_up1D[i];
      if (   buf_down1D[i] == 0 ) buf_down1D[i] = pd_1; else  pd_1 = buf_down1D[i];

      if (   buf_up4H[i] == 0 )   buf_up4H[i] = pu_2; else  pu_2 = buf_up4H[i];
      if (   buf_down4H[i] == 0 ) buf_down4H[i] = pd_2; else  pd_2 = buf_down4H[i];

      if (   buf_up1H[i] == 0 )   buf_up1H[i] = pu_3; else  pu_3 = buf_up1H[i];
      if (   buf_down1H[i] == 0 ) buf_down1H[i] = pd_3; else  pd_3 = buf_down1H[i];

      if (   buf_up30M[i] == 0 )   buf_up30M[i] = pu_4; else  pu_4 = buf_up30M[i];
      if (   buf_down30M[i] == 0 ) buf_down30M[i] = pd_4; else  pd_4 = buf_down30M[i];
   }

//----
   return(0);
  }
//+------------------------------------------------------------------+


string tf2txt(int tf)
{
   if (tf == 0)            return("CurrentTF");
   if (tf == PERIOD_M1)    return("M1");
   if (tf == PERIOD_M5)    return("M5");
   if (tf == PERIOD_M15)    return("M15");
   if (tf == PERIOD_M30)    return("M30");
   if (tf == PERIOD_H1)    return("H1");
   if (tf == PERIOD_H4)    return("H4");
   if (tf == PERIOD_D1)    return("D1");
   if (tf == PERIOD_W1)    return("W1");
   if (tf == PERIOD_MN1)    return("MN1");
   
   return("??");
}

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