_255ePivot_AllLevels

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Author: Modest, Rosh conversed only
_255ePivot_AllLevels

This script is designed to provide traders with a visual map of key price levels based on "Pivot Points." In technical analysis, these points act as psychological barriers where the market often reacts, reverses, or consolidates. By automatically identifying these zones, the tool helps users spot potential areas of support and resistance without having to calculate them manually.

Core Logic and Functionality

The script operates by analyzing historical price data to calculate five distinct levels for each trading day:

1. Automatic Identification of Daily Extremes Every time a new trading day begins, the script looks back at the preceding day's performance. It automatically identifies two primary pieces of information:

  • The Highest Price reached during that previous session.
  • The Lowest Price reached during that previous session.

2. Pivot Point Calculation Using these extremes and the closing price of the previous day, the script calculates the central "Pivot Point." It offers two different calculation formulas:

  • Standard Method: A simple average of the high, low, and previous close.
  • Modified Method: A weighted calculation that places more emphasis on the previous day's closing price, providing a slightly different perspective on the market's "balance" point.

3. Support and Resistance Mapping Once the central Pivot Point is established, the script projects four additional levels to create a complete technical grid:

  • Resistance Levels: Two upper boundaries (labeled as Res1 and Res2) that represent potential "ceilings" where buying pressure might exhaust.
  • Support Levels: Two lower boundaries (labeled as Sup1 and Sup2) that represent potential "floors" where selling pressure might weaken.

4. Dynamic Persistence The script is designed to be seamless on your chart. It doesn't just calculate a single point; it carries these levels forward throughout the current trading day. When a new day starts, it clears the old data and generates a fresh set of levels based on the latest completed session. This ensures that your chart always displays the relevant price targets for the current market environment.

Key Features for the User

  • Visual Guidance: The levels are displayed directly on your main chart window, allowing you to see "zones" rather than just isolated numbers.
  • Timeframe Compatibility: The logic is optimized for intraday trading, specifically designed to be most effective on timeframes smaller than 4 hours (such as the 1-hour, 15-minute, or 5-minute charts).
  • Automation: By removing the manual math of calculating Highs, Lows, and Pivot formulas, it allows for a cleaner trading workflow and faster decision-making.
Price Data Components
Miscellaneous
Implements a curve of type %1
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_255ePivot_AllLevels 
/*-----------------------------+
|			       |
| Shared by www.Aptrafx.com    |
|			       |
+------------------------------*/

//+------------------------------------------------------------------+
//|                                                ^Pivot_ResSup.mq4 |
//|                                      Modest, Rosh conversed only |
//|                           http://forexsystems.ru/phpBB/index.php |
//+------------------------------------------------------------------+
#property copyright "Modest, Rosh conversed only"
#property link      "http://forexsystems.ru/phpBB/index.php"
//// Ñòðîèì Pivot è Res/Supp ïî FibonacciTrader Journal Issue 6
#property indicator_chart_window
#property indicator_buffers 5
#property indicator_color1 LightBlue
#property indicator_color2 Blue
#property indicator_color3 DarkGreen
#property indicator_color4 Red
#property indicator_color5 Magenta
//---- input parameters
extern int       Formula=0;
int i=1, shift;
double FP=0.0;
double FH=0.0, FL=0.0;
bool result;
//---- buffers
double ResBuffer2[];
double ResBuffer[];
double ExtMapBuffer1[];
double SupBuffer[];
double SupBuffer2[];

//+------------------------------------------------------------------+
//| Ïðîâåðêà íîâîãî äíÿ                                              |
//+------------------------------------------------------------------+
bool isNewDay(int _shift)
  {
//---- 
   result=false;
   if (  (TimeHour(Time[_shift])==0)  && (TimeMinute(Time[_shift])==0)   ) result=true;

//----
   return(result);
  }
//+------------------------------------------------------------------+
//| Ïîëó÷èòü óðîâíè FP,Res1,Sup1,Res2 è Sup2 ïðîøåäøåãî äíÿ          |
//+------------------------------------------------------------------+
void GetRSofDay(int _shift)
  {
  int prevDay=TimeDay(Time[_shift+1]);
//---- 
   i=1;
   while (TimeDay(Time[_shift+i])==prevDay) i++;
   i--;
   FH=High[Highest(NULL,0,MODE_HIGH,i,_shift+1)];
   FL=Low[Lowest(NULL,0,MODE_LOW,i,_shift+1)];
   if (Formula==0) FP=NormalizeDouble((FH+FL+Close[_shift+1])/3.0,Digits); else FP=NormalizeDouble((FH+FL+2*Close[_shift+1])/4.0,Digits);
   ExtMapBuffer1[_shift]=FP;
   ResBuffer[_shift]=NormalizeDouble(FP+(FP-FL),Digits);
   SupBuffer[_shift]=NormalizeDouble(FP-(FH-FP),Digits);
   ResBuffer2[_shift]=NormalizeDouble(FP+(FH-FL),Digits);
   SupBuffer2[_shift]=NormalizeDouble(FP-(FH-FL),Digits);
//----
  }

//+------------------------------------------------------------------+
//| Êîïèðîâàòü FP,Res1,Sup1,Res2 è Sup2 ïðîøåäøåãî äíÿ               |
//+------------------------------------------------------------------+
void CopyLevelsDay(int _shift)
  {
   ExtMapBuffer1[_shift]=ExtMapBuffer1[_shift+1];
   ResBuffer[_shift]=ResBuffer[_shift+1];
   SupBuffer[_shift]=SupBuffer[_shift+1];
   ResBuffer2[_shift]=ResBuffer2[_shift+1];
   SupBuffer2[_shift]=SupBuffer2[_shift+1];
  }



//+------------------------------------------------------------------+
//| Custom indicator initialization function                         |
//+------------------------------------------------------------------+
int init()
  {
   if (Formula!=0)Formula=1;
   string label1="Pivot_Res2("+Formula+")";
   string label2="Pivot_Res("+Formula+")";
   string label3="Pivot_Point("+Formula+")";
   string label4="Pivot_Sup("+Formula+")";
   string label5="Pivot_Sup2("+Formula+")";
//---- indicators
   SetIndexStyle(0,DRAW_ARROW);
   SetIndexArrow(0,160); 
   SetIndexBuffer(0,ResBuffer2);
   SetIndexEmptyValue(0,0.0);
   SetIndexLabel(0,label1);

   SetIndexStyle(1,DRAW_ARROW);
   SetIndexArrow(1,160); 
   SetIndexBuffer(1,ResBuffer);
   SetIndexEmptyValue(1,0.0);
   SetIndexLabel(1,label2);

   SetIndexStyle(2,DRAW_ARROW);
   SetIndexArrow(2,160); 
   SetIndexBuffer(2,ExtMapBuffer1);
   SetIndexEmptyValue(2,0.0);
   SetIndexLabel(2,label3);

   SetIndexStyle(3,DRAW_ARROW);
   SetIndexArrow(3,160); 
   SetIndexBuffer(3,SupBuffer);
   SetIndexEmptyValue(3,0.0);
   SetIndexLabel(3,label4);

   SetIndexStyle(4,DRAW_ARROW);
   SetIndexArrow(4,160); 
   SetIndexBuffer(4,SupBuffer2);
   SetIndexEmptyValue(4,0.0);
   SetIndexLabel(4,label5);

//----
   return(0);
  }
//+------------------------------------------------------------------+
//| Custor indicator deinitialization function                       |
//+------------------------------------------------------------------+
int deinit()
  {
//---- 
   
//----
   return(0);
  }
//+------------------------------------------------------------------+
//| Custom indicator iteration function                              |
//+------------------------------------------------------------------+
int start()
  {
   int limit,firstDay;
   int counted_bars=IndicatorCounted();
   if (counted_bars<0) return(0);
   if (counted_bars==0) 
      {
      limit=Bars-1;
      i=1;
      firstDay=TimeDay(Time[limit]);
      while (TimeDay(Time[limit-i])==firstDay) i++;
      limit=limit-i-PERIOD_D1/Period();
      }
   if (counted_bars>0) limit=Bars-counted_bars;
//---- 
   if (Period()>PERIOD_H4) return;
   for (shift=limit;shift>=0;shift--)
      {
      if (isNewDay(shift)) GetRSofDay(shift); else CopyLevelsDay(shift);
      }
//----
   return(0);
  }
//+------------------------------------------------------------------+

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