TDpoints&lines_v1
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This script is designed to provide visual technical analysis on a trading chart by identifying key price structures and forecasting potential price targets. It focuses on measuring the momentum of market movements and projecting where the price might head next based on historical extremes.
Core Logic Overview
The script operates through three main stages: identification, calculation, and visualization.
1. Market Structure Identification
The tool first scans historical price data to find significant "peaks" and "troughs."
- High Points: It looks for specific candles where the high is higher than the surrounding bars and exceeds previous established highs.
- Low Points: Similarly, it identifies points where the low is lower than surrounding bars and breaks below previous lows.
Once these significant points are found, the script calculates the "velocity" of the movement by measuring the distance between these peaks/troughs relative to the amount of time (number of bars) it took to move from one to the other.
2. Trend Visualization
The script draws physical trend lines on your chart to connect these identified high and low points:
- An Upward Trend Line is drawn to show the path of recent highs.
- A Downward Trend Line is drawn to show the path of recent lows. This allows you to see the immediate "slope" of the current market trend at a glance.
3. Price Target Projection
The most complex part of the logic involves calculating potential future price targets (the "TD-Points"). The script doesn't just guess; it uses a mathematical projection based on the identified trend lines:
- Upward Targets: When the price is moving up, the script identifies historical "weak" points (lows and closes) that occurred while the trend was forming. It then calculates where those same relative gaps should appear in the current trend.
- Downward Targets: Conversely, when the price is moving down, it looks for historical "strong" points (highs and closes).
- Multi-Level Targets: The script generates four different target levels for both upward and downward movements:
- Targets based on previous extreme lows.
- Targets based on previous extreme closes.
- Targets based on a combination of low prices.
- An Average Target, which is the mean of the three primary calculations.
4. On-Chart Visuals
To make this data easy to read for a trader, the script automatically places horizontal lines on the chart representing these four target levels for both the "Up" and "Down" scenarios. These lines change style (solid vs. dashed) and color to help distinguish between primary targets and secondary projections. Additionally, it places a specific marker on the chart to indicate the starting point of the current calculation.
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TDpoints&lines_v1
/*-----------------------------+
| |
| Shared by www.Aptrafx.com |
| |
+------------------------------*/
//+------------------------------------------------------------------+
//| TD_Points&Lines_mgtd1.mq4 Short |
//| Vladislav Goshkov (VG) |
//| 4vg@mail.ru |
//|???????? - ??? ?? ???? ????????? ???????
//+------------------------------------------------------------------+
#property copyright "Vladislav Goshkov (VG)"
#property link "4vg@mail.ru"
#property indicator_chart_window
extern int StepBack=0;
extern color UpLineColor = Blue;
extern int UpLnWidth = 1;
extern color DnLineColor = Red;
extern int DnLnWidth = 1;
extern color MarkColor = Blue;
extern int MarkNumber = 217;
int i=1,NP=0,D=0,
iB_Up=0,iB_Dn=0,
S1=0,
S2=0,
UpLev=0,
DownLev=0,
iP_Up=0,
iP_Dn=0,
value=0,
CurPeriod=0,
shift=0;
datetime nTime=0;
double UpV=0,
DownV=0,
iP=0,
target = 0,
UpP[2]={0,0},
DownP[2]={0,0},
PP1=0,PP2=0,PP3=0;
int DownBT[2]={0,0}, // Bar Time
UpBT[2]={0,0},
UpB[2]={0,0}, // Bar Num
DownB[2]={0,0};
string buff_str = "";
//+------------------------------------------------------------------+
//| Custom indicator initialization function |
//+------------------------------------------------------------------+
int init()
{
//---- indicators
//----
return(0);
}
//+------------------------------------------------------------------+
//| Custor indicator deinitialization function |
//+------------------------------------------------------------------+
int deinit()
{
//---- TODO: add your code here
Comment(" ");
ObjectsDeleteAll();
//----
return(0);
}
//+------------------------------------------------------------------+
//| Custom indicator iteration function |
//+------------------------------------------------------------------+
int start()
{
int Target_Style[4] = {STYLE_DASH,STYLE_DASH,STYLE_DASH,STYLE_SOLID},
Target_Up_Color[4] = {DimGray,MediumSpringGreen,SeaGreen,Blue},
Target_Dn_Color[4] = {Magenta,Orange,Yellow,Red},
Target_LW[4] = { 1, 1, 1, 2 };
double target_up[4],target_dn[4];
//---- TODO: add your code here
if ( (nTime!=Time[0]) || (CurPeriod!=Period()) ) {
UpP[0] = 0;
UpP[1] = 0;
//=================================================
//******** ????? ??????? ????? ??????????? ********
//=================================================
for(i=2+StepBack,D=2,NP=0; (NP<D)&&(i<Bars); i++) {//Begin
if (High[i]!= High[i+1]) {
if( (High[i]>High[i+1] && High[i]>High[i-1] && High[i]>Close[i+2] )
&& High[i]> UpP[0] ) {
UpB[NP] = i;
UpBT[NP] = Time[i];
UpP[NP] = High[i];
NP++;
}
}
if (High[i]== High[i+1]) {
if ( (High[i]>High[i+2] && High[i]>High[i-1] && High[i]>Close[i+3] ) && High[i]> UpP[0] ) {
UpB[NP] = i;
UpBT[NP] = Time[i];
UpP[NP] = High[i];
NP++;
}
}
if(i == (Bars-2) ) {
UpB[NP] = i;
UpBT[NP] = Time[i];
UpP[NP] = High[i];
break;
}
}//for(i=2+StepBack,D=2,NP=0; NP<D; ) {//End;
//=================================================
//********** ????? ??????? ????? ?????? ***********
//=================================================
DownP[0] = 1000000000;
DownP[1] = 1000000000;
for(i=2+StepBack,D=2,NP=0; (NP<D)&&(i<Bars); i++) {//Begin
if (Low[i]!= Low[i+1]) {
if ( (Low[i]<Low[i+1] && Low[i]<Low[i-1] && Low[i]<Close[i+2] ) && Low[i]< DownP[0] ){
DownB[NP] = i;
DownBT[NP]= Time[i];
DownP[NP] = Low[i];
NP++;
}
//i++;
}
if (Low[i]== Low[i+1]) {
if ( (Low[i]<Low[i+2] && Low[i]<Low[i-1] && Low[i]<Close[i+3] ) && Low[i]< DownP[0] ){
DownB[NP] = i;
DownBT[NP]= Time[i];
DownP[NP] = Low[i];
NP++;
}
//i++;
}
if (i == (Bars-2) ) {
DownB[NP] = i;
DownBT[NP]= Time[i];
DownP[NP] = Low[i];
break;
}
}//End;
UpV = (UpP[1]-UpP[0])/(UpB[0]-UpB[1]);
DownV = (DownP[1]-DownP[0])/(DownB[0]-DownB[1]);
//=================================================
//**** ?????? TD-????? ****
//=================================================
buff_str = "TD_Up";
if(ObjectFind(buff_str) == -1) {
ObjectCreate(buff_str, OBJ_TREND, 0, UpBT[1], UpP[1],UpBT[0], UpP[0]);
ObjectSet(buff_str, OBJPROP_STYLE, STYLE_SOLID);
ObjectSet(buff_str, OBJPROP_COLOR, UpLineColor);
ObjectSet(buff_str, OBJPROP_WIDTH, UpLnWidth);
}
else {
ObjectDelete(buff_str);
ObjectCreate(buff_str, OBJ_TREND, 0, UpBT[1], UpP[1],UpBT[0], UpP[0]);
ObjectSet(buff_str, OBJPROP_STYLE, STYLE_SOLID);
ObjectSet(buff_str, OBJPROP_COLOR, UpLineColor);
ObjectSet(buff_str, OBJPROP_WIDTH, UpLnWidth);
}
buff_str = "TD_Dn";
if(ObjectFind(buff_str) == -1) {
ObjectCreate(buff_str, OBJ_TREND, 0, DownBT[1], DownP[1],DownBT[0], DownP[0]);
ObjectSet(buff_str, OBJPROP_STYLE, STYLE_SOLID);
ObjectSet(buff_str, OBJPROP_COLOR, DnLineColor);
ObjectSet(buff_str, OBJPROP_WIDTH, DnLnWidth);
}
else {
ObjectDelete(buff_str);
ObjectCreate(buff_str, OBJ_TREND, 0, DownBT[1], DownP[1],DownBT[0], DownP[0]);
ObjectSet(buff_str, OBJPROP_STYLE, STYLE_SOLID);
ObjectSet(buff_str, OBJPROP_COLOR, DnLineColor);
ObjectSet(buff_str, OBJPROP_WIDTH, DnLnWidth);
}
CurPeriod = Period();
nTime = Time[0];
}//if (nTime <> Time[0]) {
//----
for(i=0;i<4;i++) {
target_up[i] = 0;
target_dn[i] = 0;
}
for( i=UpB[0]; i>=StepBack; i--){
iB_Up=i;
iP=UpP[0]+UpV*(UpB[0]-i);
iP_Up = iP;
S1=Lowest(NULL,0,MODE_LOW,UpB[1]-i,i);
S2=Lowest(NULL,0,MODE_CLOSE,UpB[1]-i,i);
PP1=iP+((UpP[1]+UpV*(UpB[1]-S1))-Low[S1]);
PP2=iP+((UpP[1]+UpV*(UpB[1]-S2))-Low[S2]);
PP3=iP+((UpP[1]+UpV*(UpB[1]-S1))-Close[S1]);
target_up[0] = PP1;
target_up[1] = PP2;
target_up[2] = PP3;
target_up[3] = (PP1+PP2+PP3)/3;
}
for( i=DownB[0]; i>=StepBack;i--) {
iB_Dn=i;
iP=DownP[0]+DownV*(DownB[0]-i);
iP_Dn = iP;
S1=Highest(NULL,0,MODE_HIGH,DownB[1]-i,i);
S2=Highest(NULL,0,MODE_CLOSE,DownB[1]-i,i);
PP1=iP-(High[S1]-(DownP[1]+DownV*(DownB[1]-S1)));
PP2=iP-(High[S2]-(DownP[1]+DownV*(DownB[1]-S2)));
PP3=iP-(Close[S1]-(DownP[1]+DownV*(DownB[1]-S1)));
target_dn[0] = PP1;
target_dn[1] = PP2;
target_dn[2] = PP3;
target_dn[3] = (PP1+PP2+PP3)/3;
}//for( i=DownB[1]; i>=StepBack;i--) {
for(i=3;i>=0;i--) {
buff_str = "Target_up"+i;
if(ObjectFind(buff_str) == -1) {
ObjectCreate(buff_str, OBJ_HLINE,0, Time[0], target_up[i] );
ObjectSet(buff_str, OBJPROP_STYLE, Target_Style[i]);
ObjectSet(buff_str, OBJPROP_COLOR, Target_Up_Color[i]);
ObjectSet(buff_str, OBJPROP_WIDTH, Target_LW[i]);
}
else {
ObjectMove(buff_str, 0, Time[0], target_up[i] );
}
}
for(i=3;i>=0;i--) {
buff_str = "Target_dn"+i;
if(ObjectFind(buff_str) == -1) {
ObjectCreate(buff_str, OBJ_HLINE,0, Time[0], target_dn[i] );
ObjectSet(buff_str, OBJPROP_STYLE, Target_Style[i]);
ObjectSet(buff_str, OBJPROP_COLOR, Target_Dn_Color[i]);
ObjectSet(buff_str, OBJPROP_WIDTH, Target_LW[i]);
}
else {
ObjectMove(buff_str, 0, Time[0], target_dn[i] );
}
}
//----
string buff_str = "TD_LatestCulcBar";
if(ObjectFind(buff_str) == -1) {
ObjectCreate(buff_str, OBJ_ARROW,0, Time[StepBack], Low[StepBack]-2*Point );
ObjectSet(buff_str, OBJPROP_ARROWCODE, MarkNumber);
ObjectSet(buff_str, OBJPROP_COLOR, MarkColor);
}
else {
ObjectMove(buff_str, 0, Time[StepBack], Low[StepBack]-2*Point );
}
return(0);
}
//+------------------------------------------------------------------+
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