AutoPivotIndicator_002

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AutoPivotIndicator_002

Overview of the AutoPivotIndicator Logic

The AutoPivotIndicator is a technical analysis tool designed to automatically calculate and display "Pivot Points" on your trading charts. Pivot points are classic price levels used by traders to identify potential support and resistance zones—areas where the price might struggle to move higher (resistance) or lower (support).

By using historical price data, this script automates the heavy lifting of calculating these levels across different timeframes, allowing you to see exactly where key boundaries lie at a glance.

How It Works

The script operates by looking at three specific dimensions of time: Daily, Weekly, and Monthly. Depending on your settings, it will perform the following logic for each selected timeframe:

1. Data Collection

The indicator scans previous market history to find three core values for the completed period:

  • High: The highest price reached.
  • Low: The lowest price reached.
  • Close: The final price at the end of that period.

2. The Calculation Engine

Once it has these three values, the script uses standard mathematical formulas to derive several key levels:

  • The Pivot Point: This is the "center" of the price action, calculated by taking the average of the High, Low, and Close prices.
  • Resistance Levels (R1, R2, R3): These represent potential "ceilings." The script calculates these based on the distance between the Pivot and the previous period's lows and highs.
  • Support Levels (S1, S2, S3): These represent potential "floors." These are calculated to show where the price might find a foothold and bounce back up.

3. Visual Representation

The script doesn't just do the math in the background; it draws the results directly on your chart:

  • Dynamic Lines: It creates horizontal lines for every Pivot, Resistance, and Support level.
  • Color Coding: To help you distinguish between different types of data, the levels are color-coded (e.g., Red for Resistance, Green/Lime for Support, and distinct colors for different timeframes).
  • Labels: Each line is accompanied by a text label (such as "Daily R1" or "Weekly Pivot") so you can immediately identify what each boundary represents without having to guess.

Key Features for the User

  • Multi-Timeframe Support: You can choose to view Daily, Weekly, or Monthly pivots simultaneously. This helps you see how "big picture" monthly trends align with "short term" daily movements.
  • Automated Updates: The script handles all the math automatically. Every time the chart refreshes, it recalculates the levels based on the most recent completed data.
  • Clean Workspace Management: The script is programmed to "clean up" after itself. When you remove the indicator from your chart, it automatically deletes all the lines and labels it created, ensuring your trading workspace stays tidy.
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AutoPivotIndicator_002 
//+------------------------------------------------------------------+
//|        AutoPivotIndicator.mq4              by Habeeb             |
//|                                                                  |
//+------------------------------------------------------------------+

#property indicator_chart_window

   extern bool Daily   = True;
   extern bool Weekly  = False;
   extern bool Monthly = False;

   double YesterdayHigh;
   double YesterdayLow;
   double YesterdayClose;
   double Day_Price[][6];
   double Pivot,S1,S2,S3,R1,R2,R3;
   
   double WeekHigh;
   double WeekLow;
   double WeekClose;
   double Weekly_Price[][6];
   double WeekPivot,WS1,WS2,WS3,WR1,WR2,WR3;
   
   double MonthHigh;
   double MonthLow;
   double MonthClose;
   double Month_Price[][6];
   double MonthPivot,MS1,MS2,MS3,MR1,MR2,MR3;

int init()
  {
   return(0);
  }
  
//-------------------------------------------------------- 
  
int deinit()
  {
ObjectDelete("PivotLine");

ObjectDelete("R1_Line");
ObjectDelete("R2_Line");
ObjectDelete("R3_Line");

ObjectDelete("S1_Line");
ObjectDelete("S2_Line");
ObjectDelete("S3_Line");  

//--------------------------------

ObjectDelete("PivotLabel");

ObjectDelete("R1_Label");
ObjectDelete("R2_Label");
ObjectDelete("R3_Label");

ObjectDelete("S1_Label");
ObjectDelete("S2_Label");
ObjectDelete("S3_Label"); 

//--------------------------------------------------------

ObjectDelete("WeekPivotLine");

ObjectDelete("WR1_Line");
ObjectDelete("WR2_Line");
ObjectDelete("WR3_Line");

ObjectDelete("WS1_Line");
ObjectDelete("WS2_Line");
ObjectDelete("WS3_Line");  

//--------------------------------

ObjectDelete("WeekPivotLabel");

ObjectDelete("WR1_Label");
ObjectDelete("WR2_Label");
ObjectDelete("WR3_Label");

ObjectDelete("WS1_Label");
ObjectDelete("WS2_Label");
ObjectDelete("WS3_Label");  

//--------------------------------------------------------

ObjectDelete("MonthPivotLine");

ObjectDelete("MR1_Line");
ObjectDelete("MR2_Line");
ObjectDelete("MR3_Line");

ObjectDelete("MS1_Line");
ObjectDelete("MS2_Line");
ObjectDelete("MS3_Line");  

//--------------------------------

ObjectDelete("MonthPivotLabel");

ObjectDelete("MR1_Label");
ObjectDelete("MR2_Label");
ObjectDelete("MR3_Label");

ObjectDelete("MS1_Label");
ObjectDelete("MS2_Label");
ObjectDelete("MS3_Label");

return(0);
}
//--------------------------------------------------------- 

int start()
{

ArrayInitialize(Day_Price,0);
ArrayCopyRates(Day_Price,(Symbol()), 1440);


YesterdayHigh  = Day_Price[1][3];
YesterdayLow   = Day_Price[1][2];
YesterdayClose = Day_Price[1][4];

Pivot = ((YesterdayHigh + YesterdayLow + YesterdayClose)/3);

   R1 = (2*Pivot)-YesterdayLow;
   S1 = (2*Pivot)-YesterdayHigh;

   R2 = Pivot+(R1-S1);
   S2 = Pivot-(R1-S1);

   S3 = (YesterdayLow - (2*(YesterdayHigh-Pivot)));
   R3 = (YesterdayHigh + (2*(Pivot-YesterdayLow)));

//--------------------------------------------------------
//--------------------------------------------------------

ArrayInitialize(Weekly_Price,0);
ArrayCopyRates(Weekly_Price, Symbol(), 10080);

WeekHigh  = Weekly_Price[1][3];
WeekLow   = Weekly_Price[1][2];
WeekClose = Weekly_Price[1][4];

WeekPivot = ((WeekHigh + WeekLow + WeekClose)/3);

      WR1 = (2*WeekPivot)-WeekLow;
      WS1 = (2*WeekPivot)-WeekHigh;

      WR2 = WeekPivot+(WR1-WS1);
      WS2 = WeekPivot-(WR1-WS1);

      WS3 = (WeekLow - (2*(WeekHigh-WeekPivot)));
      WR3 = (WeekHigh + (2*(WeekPivot-WeekLow)));

//--------------------------------------------------------
//--------------------------------------------------------

ArrayInitialize(Month_Price,0);
ArrayCopyRates(Month_Price, Symbol(), 43200);

MonthHigh  = Month_Price[1][3];
MonthLow   = Month_Price[1][2];
MonthClose = Month_Price[1][4];

MonthPivot = ((MonthHigh + MonthLow + MonthClose)/3);

      MR1 = (2*MonthPivot)-MonthLow;
      MS1 = (2*MonthPivot)-MonthHigh;

      MR2 = MonthPivot+(MR1-MS1);
      MS2 = MonthPivot-(MR1-MS1);

      MS3 = (MonthLow - (2*(MonthHigh-MonthPivot)));
      MR3 = (MonthHigh + (2*(MonthPivot-MonthLow)));

//--------------------------------------------------------

if (Daily==true)
{

ObjectCreate("PivotLine", OBJ_HLINE,0, CurTime(),Pivot);
ObjectSet("PivotLine", OBJPROP_COLOR, Magenta);
ObjectSet("PivotLine", OBJPROP_STYLE, STYLE_DASH);

if(ObjectFind("PivotLabel") != 0)
{
ObjectCreate("PivotLabel", OBJ_TEXT, 0, Time[20], Pivot);
ObjectSetText("PivotLabel", "Daily Pivot", 8, "Arial", Magenta);
}
else
{
ObjectMove("PivotLabel", 0, Time[20], Pivot);
}

//--------------------------------------------------------

ObjectCreate("R1_Line", OBJ_HLINE,0, CurTime(),R1);
ObjectSet("R1_Line", OBJPROP_COLOR, Red);
ObjectSet("R1_Line", OBJPROP_STYLE, STYLE_DASHDOTDOT);

if(ObjectFind("R1_Label") != 0)
{
ObjectCreate("R1_Label", OBJ_TEXT, 0, Time[20], R1);
ObjectSetText("R1_Label", "Daily R1", 8, "Arial", Red);
}
else
{
ObjectMove("R1_Label", 0, Time[20], R1);
}

//--------------------------------------------------------

ObjectCreate("R2_Line", OBJ_HLINE,0, CurTime(),R2);
ObjectSet("R2_Line", OBJPROP_COLOR, Red);
ObjectSet("R2_Line", OBJPROP_STYLE, STYLE_DASHDOTDOT);

if(ObjectFind("R2_Label") != 0)
{
ObjectCreate("R2_Label", OBJ_TEXT, 0, Time[20], R2);
ObjectSetText("R2_Label", "Daily R2", 8, "Arial", Red);
}
else
{
ObjectMove("R2_Label", 0, Time[20], R2);
}

//---------------------------------------------------------

ObjectCreate("R3_Line", OBJ_HLINE,0, CurTime(),R3);
ObjectSet("R3_Line", OBJPROP_COLOR, Red);
ObjectSet("R3_Line", OBJPROP_STYLE, STYLE_DASHDOTDOT);

if(ObjectFind("R3_Label") != 0)
{
ObjectCreate("R3_Label", OBJ_TEXT, 0, Time[20], R3);
ObjectSetText("R3_Label", "Daily R3", 8, "Arial", Red);
}
else
{
ObjectMove("R3_Label", 0, Time[20], R3);
}

//---------------------------------------------------------

ObjectCreate("S1_Line", OBJ_HLINE,0, CurTime(),S1);
ObjectSet("S1_Line", OBJPROP_COLOR, LimeGreen);
ObjectSet("S1_Line", OBJPROP_STYLE, STYLE_DASHDOTDOT);

if(ObjectFind("S1_Label") != 0)
{
ObjectCreate("S1_Label", OBJ_TEXT, 0, Time[20], S1);
ObjectSetText("S1_Label", "Daily S1", 8, "Arial", LimeGreen);
}
else
{
ObjectMove("S1_Label", 0, Time[20], S1);
}

//---------------------------------------------------------

ObjectCreate("S2_Line", OBJ_HLINE,0, CurTime(),S2);
ObjectSet("S2_Line", OBJPROP_COLOR, LimeGreen);
ObjectSet("S2_Line", OBJPROP_STYLE, STYLE_DASHDOTDOT);

if(ObjectFind("S2_Label") != 0)
{
ObjectCreate("S2_Label", OBJ_TEXT, 0, Time[20], S2);
ObjectSetText("S2_Label", "Daily S2", 8, "Arial", LimeGreen);
}
else
{
ObjectMove("S2_Label", 0, Time[20], S2);
}
//---------------------------------------------------------

ObjectCreate("S3_Line", OBJ_HLINE,0, CurTime(),S3);
ObjectSet("S3_Line", OBJPROP_COLOR, LimeGreen);
ObjectSet("S3_Line", OBJPROP_STYLE, STYLE_DASHDOTDOT);

if(ObjectFind("S3_Label") != 0)
{
ObjectCreate("S3_Label", OBJ_TEXT, 0, Time[20], S3);
ObjectSetText("S3_Label", "Daily S3", 8, "Arial", LimeGreen);
}
else
{
ObjectMove("S3_Label", 0, Time[20], S3);
}
}
ObjectsRedraw();

//---------------------------------------------------------
//---------------------------------------------------------
//---------------------------------------------------------

if (Weekly==true)
{
ObjectCreate("WeekPivotLine", OBJ_HLINE,0, CurTime(),WeekPivot);
ObjectSet("WeekPivotLine", OBJPROP_COLOR, Aqua);
ObjectSet("WeekPivotLine", OBJPROP_STYLE, STYLE_DASH);

if(ObjectFind("WeekPivotLabel") != 0)
{
ObjectCreate("WeekPivotLabel", OBJ_TEXT, 0, Time[30], WeekPivot);
ObjectSetText("WeekPivotLabel", "WeeklyPivot", 8, "Arial", Aqua);
}
else
{
ObjectMove("WeekPivotLabel", 0, Time[30], WeekPivot);
}

//--------------------------------------------------------

ObjectCreate("WR1_Line", OBJ_HLINE,0, CurTime(),WR1);
ObjectSet("WR1_Line", OBJPROP_COLOR, Yellow);
ObjectSet("WR1_Line", OBJPROP_STYLE, STYLE_DASHDOTDOT);

if(ObjectFind("WR1_Label") != 0)
{
ObjectCreate("WR1_Label", OBJ_TEXT, 0, Time[30], WR1);
ObjectSetText("WR1_Label", " Weekly R1", 8, "Arial", Yellow);
}
else
{
ObjectMove("WR1_Label", 0, Time[30], WR1);
}

//--------------------------------------------------------

ObjectCreate("WR2_Line", OBJ_HLINE,0, CurTime(),WR2);
ObjectSet("WR2_Line", OBJPROP_COLOR, Yellow);
ObjectSet("WR2_Line", OBJPROP_STYLE, STYLE_DASHDOTDOT);

if(ObjectFind("WR2_Label") != 0)
{
ObjectCreate("WR2_Label", OBJ_TEXT, 0, Time[30], WR2);
ObjectSetText("WR2_Label", " Weekly R2", 8, "Arial", Yellow);
}
else
{
ObjectMove("WR2_Label", 0, Time[30], WR2);
}

//---------------------------------------------------------

ObjectCreate("WR3_Line", OBJ_HLINE,0, CurTime(),WR3);
ObjectSet("WR3_Line", OBJPROP_COLOR, Yellow);
ObjectSet("WR3_Line", OBJPROP_STYLE, STYLE_DASHDOTDOT);

if(ObjectFind("WR3_Label") != 0)
{
ObjectCreate("WR3_Label", OBJ_TEXT, 0, Time[30], WR3);
ObjectSetText("WR3_Label", " Weekly R3", 8, "Arial", Yellow);
}
else
{
ObjectMove("WR3_Label", 0, Time[30], WR3);
}

//---------------------------------------------------------

ObjectCreate("WS1_Line", OBJ_HLINE,0, CurTime(),WS1);
ObjectSet("WS1_Line", OBJPROP_COLOR, SteelBlue);
ObjectSet("WS1_Line", OBJPROP_STYLE, STYLE_DASHDOTDOT);

if(ObjectFind("WS1_Label") != 0)
{
ObjectCreate("WS1_Label", OBJ_TEXT, 0, Time[30], WS1);
ObjectSetText("WS1_Label", "Weekly S1", 8, "Arial", SteelBlue);
}
else
{
ObjectMove("WS1_Label", 0, Time[30], WS1);
}

//---------------------------------------------------------

ObjectCreate("WS2_Line", OBJ_HLINE,0, CurTime(),WS2);
ObjectSet("WS2_Line", OBJPROP_COLOR, SteelBlue);
ObjectSet("WS2_Line", OBJPROP_STYLE, STYLE_DASHDOTDOT);

if(ObjectFind("WS2_Label") != 0)
{
ObjectCreate("WS2_Label", OBJ_TEXT, 0, Time[30], WS2);
ObjectSetText("WS2_Label", "Weekly S2", 8, "Arial", SteelBlue);
}
else
{
ObjectMove("WS2_Label", 0, Time[30], WS2);
}

//---------------------------------------------------------

ObjectCreate("WS3_Line", OBJ_HLINE,0, CurTime(),WS3);
ObjectSet("WS3_Line", OBJPROP_COLOR, SteelBlue);
ObjectSet("WS3_Line", OBJPROP_STYLE, STYLE_DASHDOTDOT);

if(ObjectFind("WS3_Label") != 0)
{
ObjectCreate("WS3_Label", OBJ_TEXT, 0, Time[30], WS3);
ObjectSetText("WS3_Label", "Weekly S3", 8, "Arial", SteelBlue);
}
else
{
ObjectMove("WS3_Label", 0, Time[30], WS3);
}
}
//---------------------------------------------------------
//---------------------------------------------------------
//---------------------------------------------------------

if (Monthly==true)
{
ObjectCreate("MonthPivotLine", OBJ_HLINE,0, CurTime(),MonthPivot);
ObjectSet("MonthPivotLine", OBJPROP_COLOR, Brown);
ObjectSet("MonthPivotLine", OBJPROP_STYLE, STYLE_DASH);

if(ObjectFind("MonthPivotLabel") != 0)
{
ObjectCreate("MonthPivotLabel", OBJ_TEXT, 0, Time[40], MonthPivot);
ObjectSetText("MonthPivotLabel", "MonthlyPivot", 8, "Arial", Brown);
}
else
{
ObjectMove("MonthPivotLabel", 0, Time[40], MonthPivot);
}

//--------------------------------------------------------

ObjectCreate("MR1_Line", OBJ_HLINE,0, CurTime(),MR1);
ObjectSet("MR1_Line", OBJPROP_COLOR, Blue);
ObjectSet("MR1_Line", OBJPROP_STYLE, STYLE_DASHDOTDOT);

if(ObjectFind("MR1_Label") != 0)
{
ObjectCreate("MR1_Label", OBJ_TEXT, 0, Time[40], MR1);
ObjectSetText("MR1_Label", " Monthly R1", 8, "Arial", Blue);
}
else
{
ObjectMove("MR1_Label", 0, Time[40], MR1);
}

//--------------------------------------------------------

ObjectCreate("MR2_Line", OBJ_HLINE,0, CurTime(),MR2);
ObjectSet("MR2_Line", OBJPROP_COLOR, Blue);
ObjectSet("MR2_Line", OBJPROP_STYLE, STYLE_DASHDOTDOT);

if(ObjectFind("MR2_Label") != 0)
{
ObjectCreate("MR2_Label", OBJ_TEXT, 0, Time[40], MR2);
ObjectSetText("MR2_Label", " Monthly R2", 8, "Arial", Blue);
}
else
{
ObjectMove("MR2_Label", 0, Time[40], MR2);
}

//---------------------------------------------------------

ObjectCreate("MR3_Line", OBJ_HLINE,0, CurTime(),MR3);
ObjectSet("MR3_Line", OBJPROP_COLOR, Blue);
ObjectSet("MR3_Line", OBJPROP_STYLE, STYLE_DASHDOTDOT);

if(ObjectFind("MR3_Label") != 0)
{
ObjectCreate("MR3_Label", OBJ_TEXT, 0, Time[40], MR3);
ObjectSetText("MR3_Label", " Monthly R3", 8, "Arial", Blue);
}
else
{
ObjectMove("MR3_Label", 0, Time[40], MR3);
}

//---------------------------------------------------------

ObjectCreate("MS1_Line", OBJ_HLINE,0, CurTime(),MS1);
ObjectSet("MS1_Line", OBJPROP_COLOR, Silver);
ObjectSet("MS1_Line", OBJPROP_STYLE, STYLE_DASHDOTDOT);

if(ObjectFind("MS1_Label") != 0)
{
ObjectCreate("MS1_Label", OBJ_TEXT, 0, Time[40], MS1);
ObjectSetText("MS1_Label", "Monthly S1", 8, "Arial", Silver);
}
else
{
ObjectMove("MS1_Label", 0, Time[40], MS1);
}

//---------------------------------------------------------

ObjectCreate("MS2_Line", OBJ_HLINE,0, CurTime(),MS2);
ObjectSet("MS2_Line", OBJPROP_COLOR, Silver);
ObjectSet("MS2_Line", OBJPROP_STYLE, STYLE_DASHDOTDOT);

if(ObjectFind("MS2_Label") != 0)
{
ObjectCreate("MS2_Label", OBJ_TEXT, 0, Time[40], MS2);
ObjectSetText("MS2_Label", "Monthly S2", 8, "Arial", Silver);
}
else
{
ObjectMove("MS2_Label", 0, Time[40], MS2);
}

//---------------------------------------------------------

ObjectCreate("MS3_Line", OBJ_HLINE,0, CurTime(),MS3);
ObjectSet("MS3_Line", OBJPROP_COLOR, Silver);
ObjectSet("MS3_Line", OBJPROP_STYLE, STYLE_DASHDOTDOT);

if(ObjectFind("MS3_Label") != 0)
{
ObjectCreate("MS3_Label", OBJ_TEXT, 0, Time[40], MS3);
ObjectSetText("MS3_Label", "Monthly S3", 8, "Arial", Silver);
}
else
{
ObjectMove("MS3_Label", 0, Time[40], MS3);
}
}
//---------------------------------------------------------

ObjectsRedraw();

   return(0);
}

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