AllPivots_v1_v2

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Author: Copyright � 2006, Forex-TSD.com
AllPivots_v1_v2

This script is a financial analysis tool designed for the MetaTrader platform to automatically project key price levels onto your trading chart. It acts as a visual guide, helping traders identify potential areas of support and resistance based on historical price action from previous trading days.

Core Logic and Functionality

The primary purpose of this tool is to calculate and draw three distinct sets of technical levels: Pivot Points, Middle Levels, and Camarilla Breaks. By automating these calculations, the script saves traders from manual input and ensures that the data remains consistent across different timeframes.

1. Data Collection

The logic begins by looking back at historical daily data (the number of days is customizable). For each day analyzed, the script identifies four critical price points:

  • The highest price reached (High)
  • The lowest price reached (Low)
  • The opening price (Open)
  • The closing price (Close)

2. Pivot Point Calculations (PP, R1–R3, S1–S3)

The script uses these daily figures to determine the "Pivot Point," which is considered the central equilibrium of the previous day's trading activity. From this center, it calculates:

  • Resistance Levels (R1, R2, R3): These indicate potential ceilings where price may struggle to rise further.
  • Support Levels (S1, S2, S3): These indicate potential floors where price may find a base to bounce back up from.

3. Middle and Camarilla Levels

Depending on your user settings, the script can also project more granular levels:

  • Middle Levels: These provide smaller increments between the major Pivot, Support, and Resistance lines, offering a more detailed "map" of the price action for precise entries or exits.
  • Camarilla Breaks: This is a specific type of level used by some traders to identify short-term breakouts. The script calculates these based on the daily range (the distance between the high and low) relative to the closing price.

4. Visual Rendering

Once the math is complete, the script automatically draws these levels as horizontal lines on your chart for the specified number of days. Each level is assigned a specific color and style:

  • Pivot Points are generally highlighted in distinct colors (like Red, Gold, and Magenta) to stand out as primary targets.
  • Middle Levels use different line styles to remain visible without cluttering the main price action.
  • Camarilla Levels are rendered with a third style to differentiate them from the standard pivots.

Summary for the User

Essentially, this tool transforms raw historical data into a visual "roadmap." It tells you where the market has reacted in the past so you can anticipate where it might react in the future. By observing where the price interacts with these lines, you can better identify opportunities to enter or exit trades based on established market boundaries.

Price Data Components
Series array that contains the highest prices of each barSeries array that contains the lowest prices of each barSeries array that contains open prices of each barSeries array that contains close prices for each bar
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AllPivots_v1_v2 
/*-----------------------------+
|			       |
| Shared by www.Aptrafx.com    |
|			       |
+------------------------------*/

//+------------------------------------------------------------------+
//|                                                 AllPivots_v1.mq4 |
//|                                  Copyright © 2006, Forex-TSD.com |
//|                         Written by IgorAD,igorad2003@yahoo.co.uk |   
//|            http://finance.groups.yahoo.com/group/TrendLaboratory |                                      
//+------------------------------------------------------------------+
#property copyright "Copyright © 2006, Forex-TSD.com "
#property link      "http://www.forex-tsd.com/"

#property indicator_chart_window

extern int  CountDays=10;
extern bool Plot_pivots=true;
extern bool Plot_middle=false;
extern bool Plot_camarilla=false;

   datetime time1;
   datetime time2;
   double open,close,high,low;
   double P,R1,R2,R3,S1,S2,S3,M0,M1,M2,M3,M4,M5;
   double H1,H2,H3,H4,L1,L2,L3,L4,Range;
   double pstyle, mstyle,cstyle;
   int shift, num;
     
   void ObjDel()
   {
      for (;num<=CountDays;num++)
      {
      ObjectDelete("PP["+num+"]");
      ObjectDelete("R1["+num+"]");
      ObjectDelete("R2["+num+"]");
      ObjectDelete("R3["+num+"]");
      ObjectDelete("S1["+num+"]");
      ObjectDelete("S2["+num+"]");
      ObjectDelete("S3["+num+"]");
      
      ObjectDelete("M0["+num+"]");
      ObjectDelete("M1["+num+"]");
      ObjectDelete("M2["+num+"]");
      ObjectDelete("M3["+num+"]");
      ObjectDelete("M4["+num+"]");
      ObjectDelete("M5["+num+"]");
      
      ObjectDelete("H1["+num+"]");
      ObjectDelete("H2["+num+"]");
      ObjectDelete("H3["+num+"]");
      ObjectDelete("H4["+num+"]");
      ObjectDelete("L1["+num+"]");
      ObjectDelete("L2["+num+"]");
      ObjectDelete("L3["+num+"]");
      ObjectDelete("L4["+num+"]");
      }
   }

   void PlotLine(string name,double value,double line_color,double style)
   {
   ObjectCreate(name,OBJ_TREND,0,time1,value,time2,value);
   ObjectSet(name, OBJPROP_WIDTH, 1);
   ObjectSet(name, OBJPROP_STYLE, style);
   ObjectSet(name, OBJPROP_RAY, false);
   ObjectSet(name, OBJPROP_BACK, true);
   ObjectSet(name, OBJPROP_COLOR, line_color);
    }        
int init()
  {

  return(0);
  }
   
   
int deinit()
  {
   ObjDel();
   Comment("");
   return(0);
  }

int start()
  {
  int i;
     
  ObjDel();
  num=0;
  
  for (shift=CountDays-1;shift>=0;shift--)
  {
  time1=iTime(NULL,PERIOD_D1,shift);
  i=shift-1;
  if (i<0) 
  time2=Time[0];
  else
  time2=iTime(NULL,PERIOD_D1,i)-Period()*60;
         
  high  = iHigh(NULL,PERIOD_D1,shift+1);
  low   = iLow(NULL,PERIOD_D1,shift+1);
  open  = iOpen(NULL,PERIOD_D1,shift+1);
  close = iClose(NULL,PERIOD_D1,shift+1);
       
  P  = (high+low+close)/3.0;
        
  R1 = 2*P-low;
  R2 = P+(high - low);
  R3 = (2*P)+(high-(2*low));
        
  S1 = 2*P-high;
  S2 = P-(high - low);
  S3 = (2*P)-((2*high)-low);
         
  M0=0.5*(S2+S3);
  M1=0.5*(S1+S2);
  M2=0.5*(P+S1);
  M3=0.5*(P+R1);
  M4=0.5*(R1+R2);
  M5=0.5*(R2+R3);
         
  Range = high - low;
  H4 = close + (Range * 1.1/2.0);
  H3 = close + (Range * 1.1/4.0);
  H2 = close + (Range * 1.1/6.0);
  H1 = close + (Range * 1.1/12.0);

  L1 = close - (Range * 1.1/12.0);
  L2 = close - (Range * 1.1/6.0);
  L3 = close - (Range * 1.1/4.0);
  L4 = close - (Range * 1.1/2.0);
       
  time2=time1+PERIOD_D1*60;
         
  pstyle=0;
  mstyle=3;
  cstyle=1;
  num=shift;
       
  PlotLine("PP["+num+"]",P,DarkBlue,pstyle);
  if(Plot_pivots)
  {
        
   PlotLine("R1["+num+"]",R1,Red,pstyle);
   PlotLine("R2["+num+"]",R2,Orange,pstyle);
   PlotLine("R3["+num+"]",R3,Gold,pstyle);
               
   PlotLine("S1["+num+"]",S1,Yellow,pstyle);
   PlotLine("S2["+num+"]",S2,Magenta,pstyle);
   PlotLine("S3["+num+"]",S3,HotPink,pstyle);
  }
         
  if(Plot_middle)
  {
   PlotLine("M0["+num+"]",M0,LightBlue,mstyle);
   PlotLine("M1["+num+"]",M1,DeepSkyBlue,mstyle);
   PlotLine("M2["+num+"]",M2,MediumSlateBlue,mstyle);
   PlotLine("M3["+num+"]",M3,Tomato,mstyle);
   PlotLine("M4["+num+"]",M4,Chocolate,mstyle);
   PlotLine("M5["+num+"]",M5,Pink,mstyle);
  }
         
  if(Plot_camarilla)
  {
   PlotLine("H4["+num+"]",H4,LightBlue,cstyle);
   PlotLine("H3["+num+"]",H3,DeepSkyBlue,cstyle);
   PlotLine("H2["+num+"]",H2,MediumSlateBlue,cstyle);
   PlotLine("H1["+num+"]",H1,RoyalBlue,cstyle);
      
   PlotLine("L1["+num+"]",L1,Chocolate,cstyle);
   PlotLine("L2["+num+"]",L2,Orange,cstyle);
   PlotLine("L3["+num+"]",L3,Goldenrod,cstyle);
   PlotLine("L4["+num+"]",L4,Yellow,cstyle);
  }
  }
   return(0);
  }
//+------------------------------------------------------------------+

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