AutoPivotIndicator_003

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AutoPivotIndicator_003

This script is designed as a visual tool for traders to identify key price levels on a trading chart. It automatically calculates and draws "Pivot Points," which are standard technical analysis markers used to determine the potential support and resistance zones for the current market session based on past performance.

Core Functionality

The logic of this script revolves around three specific timeframes: Daily, Weekly, and Monthly. For each of these periods, the tool looks back at previous price action to calculate a "Pivot" (the balance point) and several levels of Support (S1, S2, S3) and Resistance (R1, R2, R3).

How it Works

The script performs three main tasks:

1. Data Gathering It scans historical price data to find the High, Low, and Closing prices for the previous trading period. A notable feature of this specific version is its ability to handle "Sunday Bar" issues, ensuring that the calculations remain consistent even when markets open on a Sunday.

2. Mathematical Calculation Once it has the previous high, low, and close, it applies a standard formula:

  • Pivot Point: The average of the previous period's high, low, and close.
  • Support & Resistance: These are calculated by projecting the distance between the Pivot and the previous High/Low. This tells traders where the price might "bounce" (Support) or "stall" (Resistance).

3. Visual Plotting After performing the math, the script draws actual lines and text labels directly onto your trading screen:

  • Daily Levels: Displayed in Magenta and Lime Green.
  • Weekly Levels: Displayed in Aqua and Yellow.
  • Monthly Levels: Displayed in White and Silver.

User Customization

The logic is modular, meaning you can choose what to see on your screen through the settings:

  • You can toggle specific timeframes (Daily, Weekly, Monthly) on or off.
  • You can choose whether to show just the main Pivot line or include all the additional Support and Resistance levels (SR Levels).

Summary for the Trader

Essentially, this script automates the "homework" of a trader. Instead of you having to manually calculate where the major price boundaries are for the day, week, or month, the tool does the math instantly and draws the lines on your chart, allowing you to focus on identifying high-probability trade entries.

Price Data Components
Series array that contains open time of each bar
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AutoPivotIndicator_003 
//+------------------------------------------------------------------+
//|   AutoPivotIndicator.mq4          ver 4              by Habeeb   |
//|                                                                  |
//|          This version solves the Sunday Bar problem.             |
//+------------------------------------------------------------------+

#property indicator_chart_window

   extern bool Use_Sunday_Data   = True;
   extern bool Daily             = True;
   extern bool Daily_SR_Levels   = False;
   extern bool Weekly            = True;
   extern bool Weekly_SR_Levels  = False;
   extern bool Monthly           = True;
   extern bool Monthly_SR_Levels = 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);

if(Use_Sunday_Data==False)
  {
   YesterdayHigh  = Day_Price[2][3];
   YesterdayLow   = Day_Price[2][2];
   YesterdayClose = Day_Price[2][4];
   
   Pivot = ((YesterdayHigh + YesterdayLow + YesterdayClose)/3);

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

   R2 = Pivot+(R1-S1);
   S2 = Pivot-(R1-S1);
   
   R3 = (YesterdayHigh + (2*(Pivot-YesterdayLow)));
   S3 = (YesterdayLow - (2*(YesterdayHigh-Pivot)));
  }
 else 
  {
   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);
   
   R3 = (YesterdayHigh + (2*(Pivot-YesterdayLow)));
   S3 = (YesterdayLow - (2*(YesterdayHigh-Pivot)));   
  }
       
//--------------------------------------------------------
//--------------------------------------------------------

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)
 {
  TimeToStr(CurTime());
  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);
  }

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

if (Daily_SR_Levels==true)
 {
  ObjectCreate("R1_Line", OBJ_HLINE,0, CurTime(),R1);
  ObjectSet("R1_Line", OBJPROP_COLOR, Magenta);
  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", Magenta);
  }
 else
  {
   ObjectMove("R1_Label", 0, Time[20], R1);
  }

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

   ObjectCreate("R2_Line", OBJ_HLINE,0, CurTime(),R2);
   ObjectSet("R2_Line", OBJPROP_COLOR, Magenta);
   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", Magenta);
  }
 else
  {
   ObjectMove("R2_Label", 0, Time[20], R2);
  }

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

   ObjectCreate("R3_Line", OBJ_HLINE,0, CurTime(),R3);
   ObjectSet("R3_Line", OBJPROP_COLOR, Magenta);
   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", Magenta);
  }
 else
  {
   ObjectMove("R3_Label", 0, Time[20], R3);
  }

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

   ObjectCreate("S1_Line", OBJ_HLINE,0, CurTime(),S1);
   ObjectSet("S1_Line", OBJPROP_COLOR, Magenta);
   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, Magenta);
   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, Magenta);
   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);
  }

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

if (Weekly_SR_Levels==true)
 {
  ObjectCreate("WR1_Line", OBJ_HLINE,0, CurTime(),WR1);
  ObjectSet("WR1_Line", OBJPROP_COLOR, Aqua);
  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, Aqua);
   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, Aqua);
   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, Aqua);
   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", Aqua);
  }
 else
  {
   ObjectMove("WS1_Label", 0, Time[30], WS1);
  }

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

   ObjectCreate("WS2_Line", OBJ_HLINE,0, CurTime(),WS2);
   ObjectSet("WS2_Line", OBJPROP_COLOR, Aqua);
   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", Aqua);
  }
 else
  {
   ObjectMove("WS2_Label", 0, Time[30], WS2);
  }

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

   ObjectCreate("WS3_Line", OBJ_HLINE,0, CurTime(),WS3);
   ObjectSet("WS3_Line", OBJPROP_COLOR, Aqua);
   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", Aqua);
  }
 else
  {
   ObjectMove("WS3_Label", 0, Time[30], WS3);
  }
 }
}

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

if (Monthly==true)
 {
  ObjectCreate("MonthPivotLine", OBJ_HLINE,0, CurTime(),MonthPivot);
  ObjectSet("MonthPivotLine", OBJPROP_COLOR, White);
  ObjectSet("MonthPivotLine", OBJPROP_STYLE, STYLE_DASH);
 if(ObjectFind("MonthPivotLabel") != 0)
  {
   ObjectCreate("MonthPivotLabel", OBJ_TEXT, 0, Time[40], MonthPivot);
   ObjectSetText("MonthPivotLabel", "MonthlyPivot", 8, "Arial", White);
  }
 else
  {
   ObjectMove("MonthPivotLabel", 0, Time[40], MonthPivot);
  }

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

if (Monthly_SR_Levels==true)
 {
  ObjectCreate("MR1_Line", OBJ_HLINE,0, CurTime(),MR1);
  ObjectSet("MR1_Line", OBJPROP_COLOR, White);
  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", White);
  }
 else
  {
   ObjectMove("MR1_Label", 0, Time[40], MR1);
  }

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

   ObjectCreate("MR2_Line", OBJ_HLINE,0, CurTime(),MR2);
   ObjectSet("MR2_Line", OBJPROP_COLOR, White);
   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", White);
  }
 else
  {
   ObjectMove("MR2_Label", 0, Time[40], MR2);
  }

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

   ObjectCreate("MR3_Line", OBJ_HLINE,0, CurTime(),MR3);
   ObjectSet("MR3_Line", OBJPROP_COLOR, White);
   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", White);
  }
 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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