ATM_OHMLC

Author: Copyright � 2004, MetaQuotes Software Corp.
ATM_OHMLC

This script is a specialized technical analysis tool designed for the MetaTrader platform. Its primary purpose is to automatically calculate and display key historical price levels—specifically high, low, open, and close prices—directly on your trading chart to help identify significant support and resistance zones.

Core Functionality

The logic of the script revolves around gathering data from previous trading sessions and "plotting" them as visual lines and labels. Instead of requiring the trader to manually calculate these figures, the tool scans the historical data of the current day and the preceding day to generate the following:

  • Daily Range Tracking: The script calculates the total price movement (range) for both yesterday and today. It displays these values in a text comment on the screen so traders can instantly see the volatility of the sessions.
  • Key Price Markers: It identifies and draws horizontal lines for several critical levels, including:
    • Yesterday's High, Low, and Median: These are used to gauge where the market reached its extremes in the previous session.
    • Today's Open: A visual marker showing exactly where the current trading day began.
    • Previous Session Benchmarks: It can display yesterday’s opening price and closing price.
  • Support and Resistance Levels: Using a specific mathematical logic (based on yesterday's range and close), it calculates several secondary levels (R1, R2, S1, S2). These act as "magnets" or barriers where the price may react during live trading.

How it Works for the User

  1. Data Collection: Every time the chart updates, the script automatically looks back at the Daily (D1) and Hourly (H1) price candles. It specifically hunts for the exact moment of the market open to ensure accuracy.
  2. Dynamic Drawing: Once the prices are identified, the script draws horizontal dashed lines on your chart. Each line is accompanied by a colored label (such as "H" for High, "L" for Low, or "Yc" for Yesterday's Close) to make the chart easy to read at a glance.
  3. Customization: The script includes "Toggle" settings. This allows you to choose which specific lines you want to see—for example, you can turn off today's open if you find it distracting or keep only the high/low markers for a cleaner workspace.

Technical Safeguards

The script includes a built-in check to ensure it is used correctly. If you try to apply it to a timeframe larger than one day (like a Weekly or Monthly chart), the tool will recognize that the daily calculations are no longer applicable and will provide an error message rather than displaying incorrect data.

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ATM_OHMLC 
//+-------------------------------------------------------------------+
//|  hacked up by accrete at accrete.com     ATM_HMLC.mq4             |
//|                       Copyright © 2004, MetaQuotes Software Corp. |
//|                                         http://www.metaquotes.net |
//|                                Made/Modified by Alejandro Galindo |
//|                                                                   |
//|                                                                   |
//|  This has been seriously modyfied by Accrete to show several      |
//|  levels not available in the original.      www.accrete.com       |
//+-------------------------------------------------------------------+
#property copyright "Copyright © 2004, MetaQuotes Software Corp."
#property link      "http://www.metaquotes.net"

#property indicator_chart_window

extern int TimeZone=0;
extern bool Show_Todays_Open = false;
extern bool Show_Yesterdays_Close = false;
extern bool Show_Yesterdays_Open = false;
extern bool Previous_Day_H_M_L = true;



double day_high=0;
double day_low=0;
double yesterday_high=0;
double yesterday_open=0;
double yesterday_low=0;
double yesterday_close=0;
double today_open=0;
double today_high=0;
double today_low=0;
double P=0;
double Q=0;
double R1,R2,R3;
double M0,M1,M2,M3,M4,M5;
double S1,S2,S3,T1,Y1; //last one is "T1" for Today's Open
double HBu6,HBu5,HBu4,HBu3,HBu2,HBu1;
double HBd6,HBd5,HBd4,HBd3,HBd2,HBd1;
double L4,L3;
double nQ=0;
double nD=0;
double D=0;
double rates_h1[2][6];
double rates_d1[2][6];

//+------------------------------------------------------------------+
//| Custom indicator initialization function                         |
//+------------------------------------------------------------------+
int init()
  {
//---- indicators
 R1=0; R2=0; R3=0;
 M0=0; M1=0; M2=0; M3=0; M4=0; M5=0;
 S1=0; S2=0; S3=0; T1=0; Y1=0;
 HBu6=0; HBu5=0; HBu4=0; HBu3=0; HBu2=0; HBu1=0;
 HBd6=0; HBd5=0; HBd4=0; HBd3=0; HBd2=0; HBd1=0;
 L4=0; L3=0;


//----
   return(0);
  }
//+------------------------------------------------------------------+
//| Custor indicator deinitialization function                       |
//+------------------------------------------------------------------+
int deinit()
  {
//---- TODO: add your code here
ObjectDelete("R1 Label"); 
ObjectDelete("R1 Line");
ObjectDelete("R2 Label");
ObjectDelete("R2 Line");
ObjectDelete("R3 Label");
ObjectDelete("R3 Line");
ObjectDelete("S1 Label");
ObjectDelete("S1 Line");
ObjectDelete("S2 Label");
ObjectDelete("S2 Line");
ObjectDelete("S3 Label");
ObjectDelete("S3 Line");
ObjectDelete("T1 Label");
ObjectDelete("T1 Line");
ObjectDelete("P Label");
ObjectDelete("P Line");
ObjectDelete("Y1 Label");
ObjectDelete("Y1 Line");



ObjectDelete("L3 Label");
ObjectDelete("L3 Line");
ObjectDelete("L4 Label");
ObjectDelete("L4 Line");
ObjectDelete("M5 Label");
ObjectDelete("M5 Line");
ObjectDelete("M4 Label");
ObjectDelete("M4 Line");
ObjectDelete("M3 Label");
ObjectDelete("M3 Line");
ObjectDelete("M2 Label");
ObjectDelete("M2 Line");
ObjectDelete("M1 Label");
ObjectDelete("M1 Line");
ObjectDelete("M0 Label");
ObjectDelete("M0 Line");
//----
   return(0);
  }
//+------------------------------------------------------------------+
//| Custom indicator iteration function                              |
//+------------------------------------------------------------------+
int start()
  {
      int i=0, j=0;
//---- TODO: add your code here

//---- exit if period is greater than daily charts
if(Period() > 1440)
{
Print("Error - Chart period is greater than 1 day.");
return(-1); // then exit
}

//---- Get new daily prices

ArrayCopyRates(rates_d1, Symbol(), PERIOD_D1);
yesterday_high = rates_d1[1][3];
yesterday_low = rates_d1[1][2]; 
day_high = rates_d1[0][3];
day_low = rates_d1[0][2];

ArrayCopyRates(rates_h1, Symbol(), PERIOD_H1);
for (i=0;i<=25;i++)
{
   if (TimeMinute(rates_h1[i][0])==0 && (TimeHour(rates_h1[i][0])-TimeZone)==0)
   {
      yesterday_close = rates_h1[i+1][4];      
      yesterday_open = rates_h1[i+24][1];
      today_open = rates_h1[i][1];      
      break;
   }
}

//---- Calculate ATM_Pivots

D = (day_high - day_low);
Q = (yesterday_high - yesterday_low);
P = yesterday_open;
Y1 = yesterday_close;
R2 = yesterday_close+(Q*0.50);
R1 = yesterday_close+(Q*0.35);
S1 = yesterday_close-(Q*0.35);
S2 = yesterday_close-(Q*0.50);
T1 = today_open;
//P = (yesterday_high + yesterday_low + yesterday_close) / 3; //original pivot code

// Previous Days High, Median, and Low:
M3 = (yesterday_high + yesterday_low)/2;
M2 = yesterday_low;
M1 = yesterday_high;



//H4 = (Q*0.55)+yesterday_close;
// H3 = yesterday_close+(Q*0.125);
//R3 = (2*P)+(yesterday_high-(2*yesterday_low));
	
	/*Original R/S code:
	R1 = (2*P)-yesterday_low;
S1 = (2*P)-yesterday_high;
R2 = P+(yesterday_high - yesterday_low);
S2 = P-(yesterday_high - yesterday_low);
*/
	
	
	
//M5 = (R2+R3)/2;
//	R2 = P-S1+R1;
//M4 = (R1+R2)/2;
//	R1 = (2*P)-yesterday_low;
//M3 = (P+R1)/2;
//	P = (yesterday_high + yesterday_low + yesterday_close)/3;
//M2 = (P+S1)/2;
//	S1 = (2*P)-yesterday_high;
//M1 = (S1+S2)/2;
//	S2 = P-R1+S1;
//S3 = (2*P)-((2* yesterday_high)-yesterday_low);
//L3 = yesterday_close-(Q*0.27);	
//L4 = yesterday_close-(Q*0.55);	
//M0 = (S2+S3)/2;

if (Q > 5) 
{
	nQ = Q;
}
else
{
	nQ = Q*10000;
}

if (D > 5)
{
	nD = D;
}
else
{
	nD = D*10000;
}
// Comment("High= ",yesterday_high,"    Previous Days Range= ",nQ,"\nLow= ",yesterday_low,"    Current Days Range= ",nD,"\nClose= ",yesterday_close,"\nOpen= ",yesterday_open);

Comment("HMLC Data   ", "Yesterdays Range= ",nQ,"        Todays Range= ",nD);
//"\nYesterdays Range= ",nQ,"\nTodays Range= ",nD);
//"\nHigh= ",yesterday_high,"    Yesterdays Range= ",nQ,"\nLow= ",yesterday_low,"    Todays Range= ",nD);
//"\nClose= ",yesterday_close,"\nOpen= ",yesterday_open);

//---- Set line and labels on chart window

//------ Show Today's Open:

   if (Show_Todays_Open==true)
   {
   
         if(ObjectFind("T1 label") != 0)
      {
      ObjectCreate("T1 label", OBJ_TEXT, 0, CurTime(), T1);
      ObjectSetText("T1 label", "               O", 8, "Arial", Lime);
      }
      else
      {
      ObjectMove("T1 label", 0, CurTime(), T1);
      }
      
      if(ObjectFind("T1 line") != 0)
      {
      ObjectCreate("T1 line", OBJ_HLINE, 0, Time[40], T1);
      ObjectSet("T1 line", OBJPROP_STYLE, STYLE_DASH);
      ObjectSet("T1 line", OBJPROP_COLOR, Lime);
      }
      else
      {
      ObjectMove("T1 line", 0, Time[40], T1);
      }
         }
         
//------ Show Yesterday's Close:

   if (Show_Yesterdays_Close==true)
   {
           if(ObjectFind("P label") != 0)
      {
      ObjectCreate("P label", OBJ_TEXT, 0, CurTime(), P);
      ObjectSetText("P label", "               Yc", 8, "Arial", Black);
      }
      else
      {
      ObjectMove("P label", 0, CurTime(), P);
      }    
            if(ObjectFind("P line") != 0)
      {
      ObjectCreate("P line", OBJ_HLINE, 0, Time[40], P);
      ObjectSet("P line", OBJPROP_STYLE, STYLE_DASH);
      ObjectSet("P line", OBJPROP_COLOR, Black);
      }
      else
      {
      ObjectMove("P line", 0, Time[40], P);
      }  
  }       
 
 
 //------ Show Yesterday's Open:

   if ( Show_Yesterdays_Open==true)
   {
           if(ObjectFind("Y1 label") != 0)
      {
      ObjectCreate("Y1 label", OBJ_TEXT, 0, CurTime(), Y1);
      ObjectSetText("Y1 label", "               Yo", 8, "Arial", Orange);
      }
      else
      {
      ObjectMove("Y1 label", 0, CurTime(), Y1);
      }    
            if(ObjectFind("Y1 line") != 0)
      {
      ObjectCreate("Y1 line", OBJ_HLINE, 0, Time[40], Y1);
      ObjectSet("Y1 line", OBJPROP_STYLE, STYLE_DASH);
      ObjectSet("Y1 line", OBJPROP_COLOR, Orange);
      }
      else
      {
      ObjectMove("Y1 line", 0, Time[40], Y1);
      }  
  }       
 
 
 
 
        
//------ Show High Median and Low:

   if (Previous_Day_H_M_L==true)
   {
      if(ObjectFind("M3 label") != 0)
      {
      ObjectCreate("M3 label", OBJ_TEXT, 0, CurTime(), M3);
      ObjectSetText("M3 label", "               M", 8, "Arial", Indigo);
      }
      else
      {
      ObjectMove("M3 label", 0, CurTime(), M3);
      }

      if(ObjectFind("M2 label") != 0)
      {
      ObjectCreate("M2 label", OBJ_TEXT, 0, CurTime(), M2);
      ObjectSetText("M2 label", "               L", 8, "Arial", Red);
      }
      else
      {
      ObjectMove("M2 label", 0, CurTime(), M2);
      }

      if(ObjectFind("M1 label") != 0)
      {
      ObjectCreate("M1 label", OBJ_TEXT, 0, CurTime(), M1);
      ObjectSetText("M1 label", "               H", 8, "Arial", Blue);
      }
      else
      {
      ObjectMove("M1 label", 0, CurTime(), M1);
      }
   
      if(ObjectFind("M3 line") != 0)
      {
      ObjectCreate("M3 line", OBJ_HLINE, 0, Time[40], M3);
      ObjectSet("M3 line", OBJPROP_STYLE, STYLE_DASH);
      ObjectSet("M3 line", OBJPROP_COLOR, Indigo);
      }
      else
      {
      ObjectMove("M3 line", 0, Time[40], M3);
      }

      if(ObjectFind("M2 line") != 0)
      {
      ObjectCreate("M2 line", OBJ_HLINE, 0, Time[40], M2);
      ObjectSet("M2 line", OBJPROP_STYLE, STYLE_DASH);
      ObjectSet("M2 line", OBJPROP_COLOR, Red);
      }
      else
      {
      ObjectMove("M2 line", 0, Time[40], M2);
      }

      if(ObjectFind("M1 line") != 0)
      {
      ObjectCreate("M1 line", OBJ_HLINE, 0, Time[40], M1);
      ObjectSet("M1 line", OBJPROP_STYLE, STYLE_DASH);
      ObjectSet("M1 line", OBJPROP_COLOR, Blue);
      }
      else
      {
      ObjectMove("M1 line", 0, Time[40], M1);
      }
   }

 
//---- End Of Program
   return(0);
  }
//+------------------------------------------------------------------+

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