valasholic13 BreakOutch_v3

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Author: Copyright � 2006, CT-Valas Software Corp.
valasholic13 BreakOutch_v3

This script is a technical analysis tool designed for the MetaTrader platform to assist traders in identifying key price levels, specifically focusing on a Breakout Strategy. It automatically calculates and plots significant support and resistance zones based on historical price action.

Core Logic and Functionality

1. Daily Price Analysis The indicator operates on a daily cycle. Every time a new day begins on the trading chart, the script captures the highest and lowest prices reached during the previous session. These "Highs" and "Lows" serve as the foundational data points for all subsequent calculations.

2. Pivot Point Calculation Using the highest high, the lowest low, and the closing price of the previous day, the script calculates a central "Pivot Point." This serves as the equilibrium level for the current trading day. From this central pivot, the script derives several specific trading zones:

  • Entry Zones (Buy/Sell Areas): The script identifies immediate areas where traders might look for entries based on price breaking through initial levels.
  • Breakout Levels: It establishes secondary thresholds that indicate whether the market is trending strongly higher or lower.
  • Target Zones: It calculates distal levels to help traders identify potential profit-taking points (Targets) based on the day's volatility.

3. Dynamic Visual Mapping The script draws these levels directly onto your chart. To ensure clarity, it includes text labels such as "SELL AREA," "BUY AREA," "BREAK LOW," and "TARGET." These labels help a trader instantly recognize the purpose of each line without having to guess the price action.

4. Automated Trade Guidance (On-Screen Dashboard) One of the most user-friendly features of this script is the real-time data comment displayed on the chart. It translates the mathematical lines into actionable trading instructions. Depending on where the current price sits relative to the calculated levels, it provides:

  • Breakout Instructions: Specific "Buy Stop" or "Sell Stop" prices for when the market breaks out of a range.
  • Take Profit (TP) & Stop Loss (SL): It provides exact price targets and safety exits for those specific entries.
  • Correction Strategies: It offers alternative trading instructions for scenarios where the price undergoes a "correction" (a temporary move against the main trend), helping traders navigate volatile reversals.

Summary for the User

Essentially, this tool acts as an automated "road map" for the day. It looks at what happened yesterday to predict where the boundaries are today. Instead of manually calculating complex math, you can see exactly where the major support and resistance levels are, and the script provides a clear text summary telling you exactly where to enter, where to take profits, and where to cut your losses.

Miscellaneous
Implements a curve of type %1
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valasholic13 BreakOutch_v3 
//+------------------------------------------------------------------+
//|                                            valasholic13 v2.5.mq4 |
//|                        Copyright © 2006, CT-Valas Software Corp. |
//|                                             valasholic@yahoo.com |
//+------------------------------------------------------------------+
#property copyright "Copyright © 2006, CT-Valas Software Corp."
#property link      "valasholic@yahoo.com"
//----
#property indicator_chart_window
//#property indicator_separate_window
#property indicator_buffers 7
#property indicator_color1  Snow
#property indicator_width1 0
#property indicator_color2  Red
#property indicator_width2 5
#property indicator_color3  Blue
#property indicator_width3 5
#property indicator_color4  Pink
#property indicator_width4 5
#property indicator_color5  LightBlue
#property indicator_width5 5
#property indicator_color6  Lime
#property indicator_width6 5
#property indicator_color7  Lime
#property indicator_width7 5
//---- input parameters
//---- buffers
double PBuffer[];
double J1Buffer[];
double B1Buffer[];
double J2Buffer[];
double B2Buffer[];
double J3Buffer[];
double B3Buffer[];
string Pivot="Pivot Point", Jual1="S 1", Beli1="R 1";
string Jual2="S 2", Beli2="R 2", Jual3="S 3", Beli3="R 3";
int fontsize=10;
double P, J1, B1, J2, B2, J3, B3;
double LastHigh, LastLow, x;
double D4=0.55;
//+------------------------------------------------------------------+
//| Custor indicator deinitialization function                       |
//+------------------------------------------------------------------+
int deinit()
  {
   // ObjectDelete("Pivot");
   ObjectDelete("Jual1");
   ObjectDelete("Beli1");
   ObjectDelete("Jual2");
   ObjectDelete("Beli2");
   ObjectDelete("Jual3");
   ObjectDelete("Beli3");
//----
   return(0);
  }
//+------------------------------------------------------------------+
//| Custom indicator initialization function                         |
//+------------------------------------------------------------------+
int init()
  {
//---- indicator line
   SetIndexStyle(0, DRAW_NONE);
   SetIndexStyle(1, DRAW_LINE);
   SetIndexStyle(2, DRAW_LINE);
   SetIndexStyle(3, DRAW_LINE);
   SetIndexStyle(4, DRAW_LINE);
   SetIndexStyle(5, DRAW_LINE);
   SetIndexStyle(6, DRAW_LINE);
   SetIndexBuffer(0, PBuffer);
   SetIndexBuffer(1, J1Buffer);
   SetIndexBuffer(2, B1Buffer);
   SetIndexBuffer(3, J2Buffer);
   SetIndexBuffer(4, B2Buffer);
   SetIndexBuffer(5, J3Buffer);
   SetIndexBuffer(6, B3Buffer);
//---- name for DataWindow and indicator subwindow label
   //IndicatorShortName("Pivot Point");
   //SetIndexLabel(0, "Pivot Point");
//----
   SetIndexDrawBegin(0,1);
   IndicatorDigits(MarketInfo(Symbol(),MODE_DIGITS));
//----
   return(0);
  }
//+------------------------------------------------------------------+
//| Custom indicator iteration function                              |
//+------------------------------------------------------------------+
int start()
  {
   int counted_bars=IndicatorCounted();
   int limit, i;
   Print(DoubleToStr(Close[i], Digits));
   Print(DoubleToStr(Close[0], Digits));
   Print(DoubleToStr(Close[0], Digits));
//---- indicator calculation
   if(counted_bars==0)
     {
      x=Period();
      if(x > 240)
         return(-1);
      /////////// MEMBUAT TULISAN PADA GARIS JUAL / BELI \\\\\\\\\\\\\
      //ObjectCreate("Pivot", OBJ_TEXT, 0, 0, 0);
      //ObjectSetText("Pivot", "                PIVOT", fontsize, "Arial", Black);
      ObjectCreate("Jual1", OBJ_TEXT, 0, 0, 0);
      ObjectSetText("Jual1", "                       SELL AREA", fontsize, "Arial", Green);
      ObjectCreate("Beli1", OBJ_TEXT, 0, 0, 0);
      ObjectSetText("Beli1", "                       BUY AREA", fontsize, "Arial", Green);
      ObjectCreate("Jual2", OBJ_TEXT, 0, 0, 0);
      ObjectSetText("Jual2", "                       BREAK LOW", fontsize, "Arial", Green);
      ObjectCreate("Beli2", OBJ_TEXT, 0, 0, 0);
      ObjectSetText("Beli2", "                       BREAK HIGH", fontsize, "Arial", Green);
      ObjectCreate("Jual3", OBJ_TEXT, 0, 0, 0);
      ObjectSetText("Jual3", "                       TARGET", fontsize, "Arial", Green);
      ObjectCreate("Beli3", OBJ_TEXT, 0, 0, 0);
      ObjectSetText("Beli3", "                       TARGET", fontsize, "Arial", Green);
     }
   if(counted_bars < 0)
      return(-1);
//---- last counted bar will be recounted
   //   if(counted_bars>0) counted_bars--;
   limit=(Bars - counted_bars) - 1;
//----
   for(i=limit; i>=0; i--)
     {
      if(High[i+1] > LastHigh)
         LastHigh=High[i+1];
      //----
      if(Low[i+1] < LastLow)
         LastLow=Low[i+1];
      if(TimeDay(Time[i])!=TimeDay(Time[i+1]))
        {
         Print(DoubleToStr(Close[i], Digits));
         Print(DoubleToStr(High[0], Digits));
         Print(DoubleToStr(Low[0], Digits));
         //////////// RUMUS UNTUK MENENTUKAN BREAK \\\\\\\\\\\\\\\\\\\\\
         P=(LastHigh + LastLow + Close[i+1])/3; // RUMUS UTK MENENTUKAN PIVOT
         B1=P + 20*Point; // PENENTUAN MASUK BUY AREA (BOLEH DIGANTI SESUAI ANALISA ANDA)
         J1=P - 20*Point; // PENENTUAN MASUK SELL AREA (BOLEH DIGANTI SESUAI ANALISA ANDA)
         B2=P + 40*Point; // PENENTUAN NILAI BREAK HIGH (BOLEH DIGANTI SESUAI ANALISA ANDA)
         J2=P - 40*Point; // PENENTUAN NIAI BREAK LOW (BOLEH DIGANTI SESUAI ANALISA ANDA)
         B3=P + 55*Point; // GARIS TARGET HIGH (BOLEH DIGANTI SESUAI ANALISA ANDA)
         J3=P - 55*Point; // GARIS TARGET LOW (BOLEH DIGANTI SESUAI ANALISA ANDA)
         //Re2 = P + (LastHigh - LastLow); //ini adalah rumus dari Resistance 2
         //Su2 = P - (LastHigh - LastLow); // ini adalah rumus dari Support 2
         //Re3 = (2*P) + (LastHigh - (2*LastLow)); // ini adalah rumus dari resistance 3
         //Su3 = (2*P) - ((2* LastHigh) - LastLow); //ni adalah rumus dari Support 3          
         LastLow=Open[i];
         LastHigh=Open[i];
         //----
         //ObjectMove("Pivot", 0, Time[i], P);
         ObjectMove("Jual1", 0, Time[i], J1);
         ObjectMove("Beli1", 0, Time[i], B1);
         ObjectMove("Jual2", 0, Time[i], J2);
         ObjectMove("Beli2", 0, Time[i], B2);
         ObjectMove("Jual3", 0, Time[i], J3);
         ObjectMove("Beli3", 0, Time[i], B3);
        }
      PBuffer[i]=P;
      J1Buffer[i]=J1;
      B1Buffer[i]=B1;
      J2Buffer[i]=J2;
      B2Buffer[i]=B2;
      J3Buffer[i]=J3;
      B3Buffer[i]=B3;
//----
      Comment ("\n VALASHOLIC13 v2.5 ( BREAKOUT STRATEGY ) \n Registered to: Latihan Bikin \n"
      +"\n Copyright © 2006,CT-Valas Software Corp.\n contact support:valasholic@yahoo.com"
      +"\n \n -------------------------------------------------------------------"
      +"\n :::::::::::: SAAT DIANTARA 2 BREAK ::::::::::::"
      +"\n -------------------------------------------------------------------"
      +"\n BUY AREA (break) :"
      +"\n # BUY STOP1  "+Symbol()+" pada "+(DoubleToStr (B1Buffer[i],Digits))
      +"\n dengan TP "+(DoubleToStr (B2Buffer[i],Digits))+" dan SL pada "+(DoubleToStr(J1Buffer[i],Digits))
      +"\n # BUY STOP2  "+Symbol()+" pada "+(DoubleToStr(B2Buffer[i],Digits))
      +"\n dengan TP "+(DoubleToStr ((B2Buffer[i]+(10*Point)),Digits))+" dan SL pada "+(DoubleToStr (B1Buffer[i],Digits))
      +"\n \n SELL AREA (break) :"
      +"\n # SELL STOP  "+Symbol()+" pada "+(DoubleToStr (J1Buffer[i],Digits))
      +"\n dengan TP "+(DoubleToStr (J2Buffer[i],Digits))+" dan SL pada "+(DoubleToStr (B1Buffer[i],Digits))
      +"\n # SELL STOP  "+Symbol()+" pada "+(DoubleToStr (J2Buffer[i],Digits))
      +"\n dengan TP "+(DoubleToStr ((J2Buffer[i]-(10*Point)),Digits))+" dan SL pada "+(DoubleToStr(J1Buffer[i],Digits))
//----
      +"\n \n -------------------------------------------------------------------"
      +"\n :::::::::::: SAAT MELEWATI KOREKSI ::::::::::::"
      +"\n -------------------------------------------------------------------"
      +"\n KOREKSI BAWAH :"
      +"\n # BUY STOP  "+Symbol()+" pada "+(DoubleToStr(J2Buffer[i],Digits))
      +"\n dengan TP "+(DoubleToStr(B1Buffer[i],Digits))+" dan SL pada "+(DoubleToStr(J3Buffer[i],Digits))
      +"\n \n KOREKSI ATAS :"
      +"\n # SELL STOP  "+Symbol()+" pada "+(DoubleToStr(B2Buffer[i],Digits))
      +"\n dengan TP "+(DoubleToStr(J1Buffer[i],Digits))+" dan SL pada "+(DoubleToStr(B3Buffer[i],Digits))
      +"\n -------------------------------------------------------------------"
      +"\n \n -------------------------------------------------------------------"
      +"\n :::::: SUPPORT & RESISTANCE HARI INI :::::"
      +"\n -------------------------------------------------------------------");
      //Bagaimana caranya menampilkan nilai Support dan Resistance?
      //Kita tunggu TIPs berikutnya
     }
//----
   return(0);
  }
//+------------------------------------------------------------------+

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