Support Resistance_v1
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This script is designed to automatically identify and display key Support and Resistance (S/R) levels on your trading chart. It functions by analyzing historical price data across different timeframes and projecting these significant price zones as horizontal lines to help traders visualize where the market might encounter upcoming supply or demand.
Core Functionality
Multi-Timeframe Analysis The tool is capable of scanning specific timeframes (such as 1-minute, 5-minute, 60-minute, or daily charts) and drawing levels corresponding to those periods. This allows you to see "higher timeframe" support and resistance on your current chart, providing a broader perspective of market structure.
Dynamic Level Identification Instead of just picking random highs and lows, the script uses a specific logic to determine "significant" points:
- Depth & Deviation: It looks back over a set number of bars (depth) to find peaks and troughs. It then applies a "deviation" check to ensure it only captures notable price movements rather than minor market noise.
- Sequential Filtering: The script includes a "backstep" logic that ensures levels are not placed too close to one another, effectively cleaning up the chart so it isn't cluttered with redundant lines.
- Dominance Logic: It performs a "final cutting" process where it compares nearby high and low points. If a new peak is found that is higher than a previous one in the same area, it prioritizes the more dominant level, ensuring only the most relevant structural points remain visible.
Visual Organization & Management To ensure your trading workspace remains clean and professional, the script includes several automated management features:
- Automatic Coloring: The script assigns different colors to different timeframes automatically (e.g., specific colors for 15m, 60m, or daily levels), allowing you to instantly distinguish between short-term and long-term price barriers at a glance.
- Smart Object Cleanup: The tool manages its own "memory" on the chart. It automatically deletes old or obsolete levels as new data arrives and provides an option to clear all drawn lines when you remove the indicator from your workspace.
- Trend Line Projection: Rather than just marking a single point in time, the script draws these levels as horizontal trend lines that extend into the future (rays), making it easy to see where price might react as it approaches those zones.
Summary for the Trader
Essentially, this script acts as an automated "map maker." It scans the history of the market, identifies the most significant "floors" (Support) and "ceilings" (Resistance), and draws them on your screen with specific colors based on the timeframe they belong to. This helps you identify potential areas where price might stall or reverse without having to manually draw hundreds of lines yourself.
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Support Resistance_v1
/*-----------------------------+
| |
| Shared by www.Aptrafx.com |
| |
+------------------------------*/
//+------------------------------------------------------------------+
//| SUPRESMultiFrame.mq4 |
//| |
//| RD |
//+------------------------------------------------------------------+
#property copyright "RD"
#property link "marynarz15@wp.pl"
#property indicator_chart_window
#define MaxObject 1000
//---- indicator parameters
extern int TimeFrame=5;
extern int BarsMax=144;
extern int ExtDepth=13;
extern int ExtDeviation=1;
extern int ExtBackstep=5;
extern bool DeleteObjectsOnExit=true;
extern color LineColor1=RosyBrown;
extern color LineColor5=Aqua;
extern color LineColor15=DeepPink;
extern color LineColor30=PaleVioletRed;
extern color LineColor60=Red;
extern color LineColor240=DarkOrange;
extern color LineColor1440=DeepSkyBlue;
extern color LineColor10080=Lime;
//-----------------------
double ExtMapBuffer[];
double ExtMapBuffer2[];
int SUPRESCount=0;
int linewidth;
string NamePattern;
color LineColor;
//+------------------------------------------------------------------+
//| Delete objects |
//+------------------------------------------------------------------+
int DeleteSupRes()
{
int ObjectCount=ObjectsTotal();
string names[MaxObject];
for (int i=0; i<ObjectCount;i++)
names[i]=ObjectName(i);
for (i=0; i<ObjectCount;i++)
{
string objname=names[i];
objname=StringSubstr(objname,0,StringLen(NamePattern));
if (objname!=NamePattern || ObjectType(names[i])!=OBJ_TREND)
names[i]="";
}
for (i=0; i<ObjectCount;i++)
{
if (names[i]!="") {
ObjectDelete(names[i]);}
}
return(0);
}
//+------------------------------------------------------------------+
//| Custom indicator initialization function |
//+------------------------------------------------------------------+
int init()
{
IndicatorBuffers(2);
SetIndexBuffer(0,ExtMapBuffer);
SetIndexBuffer(1,ExtMapBuffer2);
SetIndexEmptyValue(0,0.0);
ArraySetAsSeries(ExtMapBuffer,true);
ArraySetAsSeries(ExtMapBuffer2,true);
switch (TimeFrame)
{
case 1: linewidth=1; LineColor=LineColor1; break;
case 5: linewidth=1; LineColor=LineColor5; break;
case 15: linewidth=1; LineColor=LineColor15; break;
case 30: linewidth=1; LineColor=LineColor30; break;
case 60: linewidth=1; LineColor=LineColor60; break;
case 240: linewidth=1; LineColor=LineColor240; break;
case 1440: linewidth=1; LineColor=LineColor1440; break;
case 10080: linewidth=1; LineColor=LineColor10080; break;
default: linewidth=1; TimeFrame=Period(); break;
}
NamePattern=DoubleToStr(TimeFrame,0)+" SUPRES ";
if (BarsMax<55) BarsMax=55;
DeleteSupRes();
return(0);
}
//+------------------------------------------------------------------+
//| Custom indicator deinitialization function |
//+------------------------------------------------------------------+
int deinit()
{
if (DeleteObjectsOnExit) DeleteSupRes();
return(0);
}
//+------------------------------------------------------------------+
//| |
//+------------------------------------------------------------------+
int start()
{
int shift, back,lasthighpos,lastlowpos;
double val,res;
double curlow,curhigh,lasthigh,lastlow;
string objectname;
if(BarsMax==0) {BarsMax=Bars/2;}// return(0);
for(shift=iBars(NULL,TimeFrame)-ExtDepth; shift>=0; shift--)
{
val=iLow(NULL,TimeFrame,Lowest(NULL,TimeFrame,MODE_LOW,ExtDepth,shift));
if(val==lastlow) val=0.0;
else
{
lastlow=val;
if((iLow(NULL,TimeFrame,shift)-val)>(ExtDeviation*Point)) val=0.0;
else
{
for(back=1; back<=ExtBackstep; back++)
{
res=ExtMapBuffer[shift+back];
if((res!=0)&&(res>val)) ExtMapBuffer[shift+back]=0.0;
}
}
}
ExtMapBuffer[shift]=val;
//--- high
val=iHigh(NULL,TimeFrame,Highest(NULL,TimeFrame,MODE_HIGH,ExtDepth,shift));
if(val==lasthigh) val=0.0;
else
{
lasthigh=val;
if((val-iHigh(NULL,TimeFrame,shift))>(ExtDeviation*Point)) val=0.0;
else
{
for(back=1; back<=ExtBackstep; back++)
{
res=ExtMapBuffer2[shift+back];
if((res!=0)&&(res<val)) ExtMapBuffer2[shift+back]=0.0;
}
}
}
ExtMapBuffer2[shift]=val;
}
// final cutting
lasthigh=-1; lasthighpos=-1;
lastlow=-1; lastlowpos=-1;
for(shift=iBars(NULL,TimeFrame)-ExtDepth; shift>=0; shift--)
{
curlow=ExtMapBuffer[shift];
curhigh=ExtMapBuffer2[shift];
if((curlow==0)&&(curhigh==0)) continue;
//---
if(curhigh!=0)
{
if(lasthigh>0)
{
if(lasthigh<curhigh) ExtMapBuffer2[lasthighpos]=0;
else ExtMapBuffer2[shift]=0;
}
//---
if(lasthigh<curhigh || lasthigh<0)
{
lasthigh=curhigh;
lasthighpos=shift;
}
lastlow=-1;
}
//----
if(curlow!=0)
{
if(lastlow>0)
{
if(lastlow>curlow) ExtMapBuffer[lastlowpos]=0;
else ExtMapBuffer[shift]=0;
}
//---
if((curlow<lastlow)||(lastlow<0))
{
lastlow=curlow;
lastlowpos=shift;
}
lasthigh=-1;
}
}
for(shift=iBars(NULL,TimeFrame)-1; shift>=0; shift--)
{
if(shift>=iBars(NULL,TimeFrame)-ExtDepth) ExtMapBuffer[shift]=0.0;
else
{
res=ExtMapBuffer2[shift];
if(res!=0.0) ExtMapBuffer[shift]=res;
}
}
///////////////////////// Lines creation /////////////////
int count=0;
double TempBufferPrice[MaxObject];
int TempBufferBar[MaxObject];
string ObjectNames[MaxObject];
//////////////////////// lists of lines //////////////////
for(shift=BarsMax; shift>0; shift--)
if (ExtMapBuffer[shift]>0)
{
count++;
TempBufferPrice[count-1]=ExtMapBuffer[shift];
TempBufferBar[count-1]=shift;
}
for(int i=0; i<count; i++)
ObjectNames[i]=TimeFrame+"m S/R("+i+")"/*DoubleToStr(TempBufferPrice[i],Digits)+" "+
TimeToStr(iTime(NULL,TimeFrame,TempBufferBar[i]),TIME_DATE|TIME_MINUTES)*/;
/////// deleting pending objects ///////////////
int ObjectForDeleteCount=0;
string ObjectsForDelete[MaxObject];
for(i=0; i<ObjectsTotal(); i++)
{
objectname=ObjectName(i);
if (StringSubstr(objectname,0,StringLen(NamePattern))==NamePattern)
{
ObjectForDeleteCount++;
ObjectsForDelete[ObjectForDeleteCount-1]=objectname;
}
}
for(i=0; i<count-2; i++)
{
objectname=ObjectNames[i];
for(int j=0; j<ObjectForDeleteCount; j++)
if(ObjectsForDelete[j]==objectname)
{
ObjectsForDelete[j]="";
break;
}
}
for(j=0; j<ObjectForDeleteCount; j++)
if (ObjectsForDelete[j]!="")
{
ObjectDelete(ObjectsForDelete[j]);
}
////////////// objects plotting /////////////////
for(i=0; i<count; i++)
{
if (ObjectFind(ObjectNames[i])==-1)
{
ObjectCreate(ObjectNames[i],OBJ_TREND,0,iTime(NULL,TimeFrame,TempBufferBar[i]),TempBufferPrice[i],
iTime(NULL,TimeFrame,TempBufferBar[i])+10080*60,TempBufferPrice[i]);
ObjectSet(ObjectNames[i],OBJPROP_WIDTH,linewidth);
ObjectSet(ObjectNames[i],OBJPROP_COLOR,LineColor);
ObjectSet(ObjectNames[i],OBJPROP_RAY,True);
ObjectSetText(ObjectNames[i],ObjectNames[i]+" "+DoubleToStr(TempBufferPrice[i],Digits),8,"Courier",LightSteelBlue);
}
}
}
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