1020
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Overview of the BreakOut_BOX_4r2 Script
The BreakOut_BOX_4r2 is a visual analysis tool designed for trading platforms to help identify and visualize specific price "boxes" or ranges during key market sessions. Based on breakout concepts used in professional trading, this script automates the drawing of rectangles on your chart to highlight historical high and low prices during defined time periods.
Core Functionality
The primary purpose of this script is to map out price volatility by identifying the highest and lowest points reached during specific windows of time (such as a market open or a session close). By visualizing these boundaries, traders can more easily identify "breakout" points—moments where the price moves outside of these established ranges.
Key Features and Logic
1. Dynamic Time Window Mapping The script allows you to define specific start and end times for different periods. It is highly flexible in how it handles time:
- Session Awareness: You can set specific "Begin" and "End" times (e.g., the first 30 minutes of a market open).
- Multi-Day Handling: The logic accounts for sessions that might cross over into the next calendar day, ensuring the rectangles remain continuous even if the clock strikes midnight.
- Weekend Filtering: The script automatically recognizes trading days and avoids placing data on Sundays.
2. Automated Price Detection Rather than requiring the user to manually find price levels, the script scans the historical data for every specified day:
- It identifies the Highest Price and Lowest Price reached between your defined start and end times.
- It then automatically calculates the dimensions of the rectangle based on these two extremes.
3. Visual Customization & Organization The script is designed to be visually organized and customizable for a clean trading workspace:
- Historical Backfill: You can choose how many past days you want the script to plot (e.g., looking back 50 days).
- Unique Identification: It uses a "Unique ID" system, which allows you to run multiple instances of the indicator on a single chart without them overlapping or conflicting with one another.
- Style Options: You can toggle between solid filled backgrounds and simple outlines for the boxes, and choose specific colors to differentiate between different types of price zones (like Period A vs. Period B).
4. Memory Management To keep your trading platform running smoothly, the script includes a cleanup routine. When you remove the indicator or restart the chart, it automatically deletes the rectangles it created, ensuring that your workspace remains uncluttered and your platform’s memory is managed efficiently.
Summary of Use
For a trader, this script serves as a historical "map." By looking back at previous days, it shows exactly how high and low the market moved during key hours. This helps in identifying patterns where the price frequently breaks out of specific ranges, allowing for more objective decision-making based on visual price boundaries.
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1020
//+------------------------------------------------------------------+
//| BreakOut_BOX_4r2.mq4 |
//| hapalkos |
//| 2007.02.13 |
//| Code based on TIME1_modified.mq4 shown below |
//| posted to Forex Factory by glenn5t |
//| Concept of the break-out box form by Markj |
//| |
//| ++ modified so that rectangles do not overlay |
//| ++ this makes color selection more versatile |
//| +++ code consolidated to facilitate changes |
//| +++ changed period B rectangle and added offset value |
//| +++ corrected error in high-low code |
//| ++++ added ability to cross mid-night(nextDayA, nextDayB) |
//| ++++ added Unique ID to allow for multiple indicators |
//| ++++ added ability to delete specific rectangles |
//+------------------------------------------------------------------+
#property copyright "hapalkos"
#property link ""
#property indicator_chart_window
// Opening Range Break-Out per Mark Fisher in "The Logical Trader"
// more suitable to futures than spot forex
extern string UniqueID = "1020"; // --- Server Time --- GMT+2 ---
extern int NumberOfDays = 50;
extern string periodA_begin = "10:20"; // London Open
extern string periodA_end = "10:25"; // First thirty minutes after open
extern int nextDayA = 0; // Set to zero if periodA_begin and periodA_end are on the same day.
// Set to one if periodA_end is on the next day.
extern string periodB_end = "14:00"; // London close
extern int nextDayB = 0; // Set to zero if periodA_begin and periodB_end are on the same day.
// Set to one if periodB_end is on the next day.
extern color rectAB_color = C' 175,138,122';
extern bool rectAB_background = true; // true - filled solid; false - outline
extern color rectA_color = Red;
extern bool rectA_background = false; // true - filled solid; false - outline
extern color rectB1_color = Green;
extern bool rectB1_background = false; // true - filled solid; false - outline
extern int rectB1_band = 28; // a-value // Box Break-Out Band for the Period B rectangle
extern color rectsB2_color = Green;
extern bool rectsB2_background = false; // true - filled solid, false - outline
extern int rectsB2_band = 56; // c-value // Box Break-Our Band for the two upper and lower rectangles
//+------------------------------------------------------------------+
//| Custom indicator initialization function |
//+------------------------------------------------------------------+
void init() {
DeleteObjects();
}
//+------------------------------------------------------------------+
//| Custor indicator deinitialization function |
//+------------------------------------------------------------------+
void deinit() {
DeleteObjects();
return(0);
}
//+------------------------------------------------------------------+
//| Remove all indicator Rectangles |
//+------------------------------------------------------------------+
void DeleteObjects() {
datetime dtTradeDate=TimeCurrent();
for (int i=0; i<NumberOfDays; i++) {
ObjectDelete(UniqueID + " BoxHL " + TimeToStr(dtTradeDate,TIME_DATE));
ObjectDelete(UniqueID + " BoxBO_High " + TimeToStr(dtTradeDate,TIME_DATE));
ObjectDelete(UniqueID + " BoxBO_Low " + TimeToStr(dtTradeDate,TIME_DATE));
ObjectDelete(UniqueID + " BoxPeriodA " + TimeToStr(dtTradeDate,TIME_DATE));
ObjectDelete(UniqueID + " BoxPeriodB " + TimeToStr(dtTradeDate,TIME_DATE));
dtTradeDate=decrementTradeDate(dtTradeDate);
while (TimeDayOfWeek(dtTradeDate) > 5 || TimeDayOfWeek(dtTradeDate) < 1 ) dtTradeDate = decrementTradeDate(dtTradeDate); // Removed Sundays from plots
}
return(0);
}
//+------------------------------------------------------------------+
//| Custom indicator iteration function |
//+------------------------------------------------------------------+
void start() {
datetime dtTradeDate=TimeCurrent();
for (int i=0; i<NumberOfDays; i++) {
DrawObjects(dtTradeDate, UniqueID + " BoxHL " + TimeToStr(dtTradeDate,TIME_DATE), periodA_begin, periodA_end, periodB_end, rectAB_color, 0, 1, rectAB_background,nextDayA,nextDayB);
//DrawObjects(dtTradeDate, UniqueID + " BoxBO_High " + TimeToStr(dtTradeDate,TIME_DATE), periodA_begin, periodA_end, periodB_end, rectsB2_color, rectsB2_band,2,rectsB2_background,nextDayA,nextDayB);
//DrawObjects(dtTradeDate, UniqueID + " BoxBO_Low " + TimeToStr(dtTradeDate,TIME_DATE), periodA_begin, periodA_end, periodB_end, rectsB2_color, rectsB2_band,3,rectsB2_background,nextDayA,nextDayB);
//DrawObjects(dtTradeDate, UniqueID + " BoxPeriodA " + TimeToStr(dtTradeDate,TIME_DATE), periodA_begin, periodA_end, periodA_end, rectA_color, 0,4, rectA_background,nextDayA,nextDayB);
//DrawObjects(dtTradeDate, UniqueID + " BoxPeriodB " + TimeToStr(dtTradeDate,TIME_DATE), periodA_begin, periodA_end, periodB_end, rectB1_color, rectB1_band,5, rectB1_background,nextDayA,nextDayB);
dtTradeDate=decrementTradeDate(dtTradeDate);
while (TimeDayOfWeek(dtTradeDate) > 5 || TimeDayOfWeek(dtTradeDate) < 1 ) dtTradeDate = decrementTradeDate(dtTradeDate); // Removed Sundays from plots
}
}
//+------------------------------------------------------------------+
//| Create Rectangles |
//+------------------------------------------------------------------+
void DrawObjects(datetime dtTradeDate, string sObjName, string sTimeBegin, string sTimeEnd, string sTimeObjEnd, color cObjColor, int iOffSet, int iForm, bool background, int nextDayA, int nextDayB) {
datetime dtTimeBegin, dtTimeEnd, dtTimeObjEnd;
double dPriceHigh, dPriceLow;
int iBarBegin, iBarEnd;
dtTimeBegin = StrToTime(TimeToStr(dtTradeDate, TIME_DATE) + " " + sTimeBegin);
dtTimeEnd = StrToTime(TimeToStr(dtTradeDate, TIME_DATE) + " " + sTimeEnd);
dtTimeObjEnd = StrToTime(TimeToStr(dtTradeDate, TIME_DATE) + " " + sTimeObjEnd);
if(nextDayA == 1) dtTimeEnd = dtTimeEnd + 86400;
if(nextDayB == 1) dtTimeObjEnd = dtTimeObjEnd + 86400;
if(nextDayA == 1 && TimeDayOfWeek(dtTradeDate) == 5) dtTimeEnd = dtTimeEnd + (2 * 86400);
if(nextDayB == 1 && TimeDayOfWeek(dtTradeDate) == 5) dtTimeObjEnd = dtTimeObjEnd + (2 * 86400);
iBarBegin = iBarShift(NULL, 0, dtTimeBegin)+1; // added 1 to bar count to correct calculation for highest price for the period
iBarEnd = iBarShift(NULL, 0, dtTimeEnd)+1; // added 1 to bar count to correct calculation for lowest price for the period
dPriceHigh = High[Highest(NULL, 0, MODE_HIGH, (iBarBegin)-iBarEnd, iBarEnd)];
dPriceLow = Low [Lowest (NULL, 0, MODE_LOW , (iBarBegin)-iBarEnd, iBarEnd)];
ObjectCreate(sObjName, OBJ_RECTANGLE, 0, 0, 0, 0, 0);
//---- High-Low Rectangle - Period A and B combined
if(iForm==1){
ObjectSet(sObjName, OBJPROP_TIME1 , dtTimeBegin);
ObjectSet(sObjName, OBJPROP_TIME2 , dtTimeObjEnd);
ObjectSet(sObjName, OBJPROP_PRICE1, dPriceHigh);
ObjectSet(sObjName, OBJPROP_PRICE2, dPriceLow);
ObjectSet(sObjName, OBJPROP_STYLE, STYLE_SOLID);
ObjectSet(sObjName, OBJPROP_COLOR, cObjColor);
ObjectSet(sObjName, OBJPROP_BACK, background);
}
//---- Upper Rectangle - Period B
if(iForm==2){
ObjectSet(sObjName, OBJPROP_TIME1 , dtTimeEnd);
ObjectSet(sObjName, OBJPROP_TIME2 , dtTimeObjEnd);
ObjectSet(sObjName, OBJPROP_PRICE1, dPriceHigh);
ObjectSet(sObjName, OBJPROP_PRICE2, dPriceHigh + iOffSet*Point);
ObjectSet(sObjName, OBJPROP_STYLE, STYLE_SOLID);
ObjectSet(sObjName, OBJPROP_COLOR, cObjColor);
ObjectSet(sObjName, OBJPROP_BACK, background);
}
//---- Lower Rectangle - Period B
if(iForm==3){
ObjectSet(sObjName, OBJPROP_TIME1 , dtTimeEnd);
ObjectSet(sObjName, OBJPROP_TIME2 , dtTimeObjEnd);
ObjectSet(sObjName, OBJPROP_PRICE1, dPriceLow - iOffSet*Point);
ObjectSet(sObjName, OBJPROP_PRICE2, dPriceLow);
ObjectSet(sObjName, OBJPROP_STYLE, STYLE_SOLID);
ObjectSet(sObjName, OBJPROP_COLOR, cObjColor);
ObjectSet(sObjName, OBJPROP_BACK, background);
}
//---- Period A Rectangle
if(iForm==4){
ObjectSet(sObjName, OBJPROP_TIME1 , dtTimeBegin);
ObjectSet(sObjName, OBJPROP_TIME2 , dtTimeEnd);
ObjectSet(sObjName, OBJPROP_PRICE1, dPriceHigh);
ObjectSet(sObjName, OBJPROP_PRICE2, dPriceLow);
ObjectSet(sObjName, OBJPROP_STYLE, STYLE_SOLID);
ObjectSet(sObjName, OBJPROP_COLOR, cObjColor);
ObjectSet(sObjName, OBJPROP_WIDTH, 2);
ObjectSet(sObjName, OBJPROP_BACK, background);
string sObjDesc = StringConcatenate("High: ",dPriceHigh," Low: ", dPriceLow);
ObjectSetText(sObjName, sObjDesc,10,"Times New Roman",Black);
}
//---- Period B Rectangle
if(iForm==5){
ObjectSet(sObjName, OBJPROP_TIME1 , dtTimeEnd);
ObjectSet(sObjName, OBJPROP_TIME2 , dtTimeObjEnd);
ObjectSet(sObjName, OBJPROP_PRICE1, dPriceHigh + iOffSet*Point);
ObjectSet(sObjName, OBJPROP_PRICE2, dPriceLow - iOffSet*Point);
ObjectSet(sObjName, OBJPROP_STYLE, STYLE_SOLID);
ObjectSet(sObjName, OBJPROP_COLOR, cObjColor);
ObjectSet(sObjName, OBJPROP_WIDTH, 2);
ObjectSet(sObjName, OBJPROP_BACK, background);
}
}
//+------------------------------------------------------------------+
//| Decrement Date to draw objects in the past |
//+------------------------------------------------------------------+
datetime decrementTradeDate (datetime dtTimeDate) {
int iTimeYear=TimeYear(dtTimeDate);
int iTimeMonth=TimeMonth(dtTimeDate);
int iTimeDay=TimeDay(dtTimeDate);
int iTimeHour=TimeHour(dtTimeDate);
int iTimeMinute=TimeMinute(dtTimeDate);
iTimeDay--;
if (iTimeDay==0) {
iTimeMonth--;
if (iTimeMonth==0) {
iTimeYear--;
iTimeMonth=12;
}
// Thirty days hath September...
if (iTimeMonth==4 || iTimeMonth==6 || iTimeMonth==9 || iTimeMonth==11) iTimeDay=30;
// ...all the rest have thirty-one...
if (iTimeMonth==1 || iTimeMonth==3 || iTimeMonth==5 || iTimeMonth==7 || iTimeMonth==8 || iTimeMonth==10 || iTimeMonth==12) iTimeDay=31;
// ...except...
if (iTimeMonth==2) if (MathMod(iTimeYear, 4)==0) iTimeDay=29; else iTimeDay=28;
}
return(StrToTime(iTimeYear + "." + iTimeMonth + "." + iTimeDay + " " + iTimeHour + ":" + iTimeMinute));
}
//+------------------------------------------------------------------+
//
//
//
/*
//+------------------------------------------------------------------+
//| times.mq4 |
//| |
//| Made/Modified by sh _j . |
//+------------------------------------------------------------------+
#property copyright "Morning Star"
#property link "http://Grand Forex.ir"
#property indicator_chart_window
extern int NumberOfDays = 50;
extern string AsiaBegin = "01:00";
extern string AsiaEnd = "09:00";
extern color AsiaColor = Red;
extern string EurBegin = "09:00";
extern string EurEnd = "16:00";
extern color EurColor = Blue;
extern string USABegin = "16:00";
extern string USAEnd = "23:00";
extern color USAColor = Tan;
//+------------------------------------------------------------------+
//| Custom indicator initialization function |
//+------------------------------------------------------------------+
void init() {
DeleteObjects();
for (int i=0; i<NumberOfDays; i++) {
CreateObjects("AS"+i, AsiaColor);
CreateObjects("EU"+i, EurColor);
CreateObjects("US"+i, USAColor);
}
Comment("");
}
//+------------------------------------------------------------------+
//| Custor indicator deinitialization function |
//+------------------------------------------------------------------+
void deinit() {
DeleteObjects();
Comment("");
}
void CreateObjects(string no, color cl) {
ObjectCreate(no, OBJ_RECTANGLE, 0, 0,0, 0,0);
ObjectSet(no, OBJPROP_STYLE, STYLE_SOLID);
ObjectSet(no, OBJPROP_COLOR, cl);
ObjectSet(no, OBJPROP_BACK, True);
}
//+------------------------------------------------------------------+
//| Óäàëåíèå îáúåêòîâ èíäèêàòîðà |
//+------------------------------------------------------------------+
void DeleteObjects() {
for (int i=0; i<NumberOfDays; i++) {
ObjectDelete("AS"+i);
ObjectDelete("EU"+i);
ObjectDelete("US"+i);
}
}
//+------------------------------------------------------------------+
//| Custom indicator iteration function |
//+------------------------------------------------------------------+
void start() {
datetime dt=CurTime();
for (int i=0; i<NumberOfDays; i++) {
DrawObjects(dt, "AS"+i, AsiaBegin, AsiaEnd);
DrawObjects(dt, "EU"+i, EurBegin, EurEnd);
DrawObjects(dt, "US"+i, USABegin, USAEnd);
dt=decDateTradeDay(dt);
while (TimeDayOfWeek(dt)>5) dt=decDateTradeDay(dt);
}
}
void DrawObjects(datetime dt, string no, string tb, string te) {
datetime t1, t2;
double p1, p2;
int b1, b2;
t1=StrToTime(TimeToStr(dt, TIME_DATE)+" "+tb);
t2=StrToTime(TimeToStr(dt, TIME_DATE)+" "+te);
b1=iBarShift(NULL, 0, t1);
b2=iBarShift(NULL, 0, t2);
p1=High[Highest(NULL, 0, MODE_HIGH, b1-b2, b2)];
p2=Low [Lowest (NULL, 0, MODE_LOW , b1-b2, b2)];
ObjectSet(no, OBJPROP_TIME1 , t1);
ObjectSet(no, OBJPROP_PRICE1, p1);
ObjectSet(no, OBJPROP_TIME2 , t2);
ObjectSet(no, OBJPROP_PRICE2, p2);
}
datetime decDateTradeDay (datetime dt) {
int ty=TimeYear(dt);
int tm=TimeMonth(dt);
int td=TimeDay(dt);
int th=TimeHour(dt);
int ti=TimeMinute(dt);
td--;
if (td==0) {
tm--;
if (tm==0) {
ty--;
tm=12;
}
if (tm==1 || tm==3 || tm==5 || tm==7 || tm==8 || tm==10 || tm==12) td=31;
if (tm==2) if (MathMod(ty, 4)==0) td=29; else td=28;
if (tm==4 || tm==6 || tm==9 || tm==11) td=30;
}
return(StrToTime(ty+"."+tm+"."+td+" "+th+":"+ti));
}
//+------------------------------------------------------------------+
*/
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