Batfink Signal (Stoploss B)

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Batfink Signal (Stoploss B)

This script is designed to help traders identify specific price breakout opportunities by monitoring the market's behavior during set time intervals throughout the trading day. Instead of looking at the entire day's movement at once, the logic breaks the day into segments to establish "zones" and detect when the price pushes beyond those boundaries.

Core Logic Overview

The tool operates by dividing the trading day into three distinct periods:

  1. The Early Session: The initial opening period of the day.
  2. The Mid-Session: A secondary period following the first.
  3. The Remainder of the Day: Everything that follows the second period.

How it Works

  • Zone Identification: The script scans the price action within the first two time periods to determine specific high and low boundaries. It focuses on the price movement during these windows to establish a "reference range."
  • Dynamic Boundary Projection: Once the first session is complete, the script takes the data gathered and projects a "Zone" onto your chart. This zone consists of an upper and lower boundary. These boundaries are calculated by taking a reference point from the completed period and adding or subtracting a user-defined number of pips (the entry buffer).
  • Breakout Detection: The script constantly monitors the current market price against these projected upper and lower boundaries. It looks for specific "crosses":
    • Buy Signals: These occur when the price moves from below the upper boundary to above it.
    • Sell Signals: These occur when the price moves from above the lower boundary to below it.
  • Visual Feedback & Alerts: When the script detects that the price has breached these zones, it places a visual arrow on the chart to highlight the breakout point. If the user enables alerts, the system will also trigger a notification to notify the trader in real-time as the breakout occurs.

Key Features

  • Time Zone Adjustments: The logic includes settings to account for different time zones, ensuring that the "start of the day" and the specific session periods align correctly with your local time or the server's time.
  • Automatic Reset: At the start of every new trading day, the script automatically clears the previous day's data and resets the calculation logic to begin identifying new zones for the current date.
  • Pips Buffer: Users can customize how wide the "entry zone" is, allowing for more conservative or aggressive breakout detection based on their specific trading style.
Miscellaneous
Implements a curve of type %1It issuies visual alerts to the screen
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Batfink Signal (Stoploss B) 

//+------------------------------------------------------------------+
//|  Batfink Daily Range.MT4                                         |
//|                                                                  |
//+------------------------------------------------------------------+


/* Introduction:

   Draw Line at 00:00GMT + and - 30

   TimeZONE Information - Indicator can be used for different Time Zones. 
                          For Batfink settings set to -5 for MetaQuotes demo Server
                          This will place home line at 00:00GMT Time

*/

#property indicator_chart_window
#property indicator_buffers 3
#property indicator_color1 Red
#property indicator_color2 Red
#property indicator_color3 Red

extern bool DoEntryAlerts= false;
extern int LocalTimeZone= 2;
extern int DestTimeZone= 0;
extern int PipsForEntry= 30;

double Zone1Upper[];
double Zone1Lower[];
double EntrySignalsBuffer[];   

//+------------------------------------------------------------------+
//| Custom indicator initialization function                         |
//+------------------------------------------------------------------+
int init()
{
   SetIndexStyle(0,DRAW_LINE);
   SetIndexBuffer(0,Zone1Upper);
   SetIndexEmptyValue(0, 0.0);

   SetIndexStyle(1,DRAW_LINE);
   SetIndexBuffer(1,Zone1Lower);
   SetIndexEmptyValue(1, 0.0);
   
   SetIndexStyle(2,DRAW_ARROW);
   SetIndexArrow(2, 117);
   SetIndexBuffer(2, EntrySignalsBuffer);
   SetIndexEmptyValue(2, 0.0);
   SetIndexLabel(2, "Zone Breakout Signal");

   return(0);
}

int deinit()
{

   return(0);
}
  
//+------------------------------------------------------------------+
//| Custom indicator iteration function                              |
//+------------------------------------------------------------------+
int start()
{
   int counted_bars= IndicatorCounted(),
         lastbar, result;

   if (Bars<=100) 
      return(0);
      
   if (counted_bars>0)
      counted_bars--;
      
   lastbar= Bars - counted_bars;
   
   BreakoutRanges(0, lastbar, LocalTimeZone, DestTimeZone);
   
   //
   // check alerts   
   //
   
   static datetime lastalerttime;
   static double lastalertprice;

   if (DoEntryAlerts && lastalerttime!=Time[0] && EntrySignalsBuffer[0]!=0 && EntrySignalsBuffer[0]!=lastalertprice) {
      Alert("ZoneBreakout signals entry!");
      lastalerttime= Time[0];
      lastalertprice= EntrySignalsBuffer[0];
   } 
   else {
      lastalerttime= 0;
      lastalertprice= 0.0;
   }


   return(0);
}
   
 
//+------------------------------------------------------------------+
//| Compute index of first/last bar of yesterday and today           |
//+------------------------------------------------------------------+
int BreakoutRanges(int offset, int lastbar, int tzlocal, int tzdest)
{     
   int i, j, k,
       tzdiff= tzlocal - tzdest,
       tzdiffsec= tzdiff*3600, 
       tidxstart[2]= { 0, 0}, 
       tidxend[2]= { 0, 0 };
   double topen[2]= { 0.0, 0.0 }, 
           tclose[2]= { 99999.9, 99999.9 };
   string tfrom[3]= { "07:00", "08:00" ,  /*rest of day: */ "12:00"},
          tto[3]=   { "08:00", "12:00",   /*rest of day: */ "24:00" },
          tday;
   bool inperiod= -1;
   datetime timet;
   

   //
   // search back for the beginning of the day
   //
   tday= TimeToStr(Time[lastbar]-tzdiffsec, TIME_DATE);   
   for (  ; lastbar<Bars; lastbar++) {
      if (TimeToStr(Time[lastbar] - tzdiffsec, TIME_DATE)!=tday) {
         lastbar--;
         break;      
      }
   }   



   //
   // find the high/low for the two periods and carry them forward through the day
   //
   tday= "XXX";
   for (i= lastbar; i>=offset; i--) {
   
      timet= Time[i] - tzdiffsec;   // time of this bar
      
      string timestr= TimeToStr(timet, TIME_MINUTES),    // current time HH:MM
             thisday= TimeToStr(timet, TIME_DATE);       // current date
             
      EntrySignalsBuffer[i]= 0;  
      
      //
      // for all three periods (first period, second period, rest of day)
      //
      for (j= 0; j<3; j++) {
      
         if (tfrom[j]<=timestr && timestr<tto[j]) {   // Bar[i] in this period
      
            if (inperiod!=j) { // entered new period, so last one is completed
                                 
               if (j>0) {      // now draw high/low back over the recently completed period
               
                  for (k= tidxstart[j-1]; k>=tidxend[j-1]; k--) {
                     if (j-1==0) {
                        Zone1Upper[k]= tclose[j-1];
                        Zone1Lower[k]= tclose[j-1];
           
                  }
               }
               
               inperiod= j;   // remember current period
            }
            


            // for the current period find idxstart, idxend and compute high/low
            if (tidxstart[j]==0) {
               tidxstart[j]= i;
               tday= thisday;
            }
         
            tidxend[j]= i;
      
            topen[j]= MathMax(topen[j], Open[i]);
            tclose[j]= MathMin(tclose[j], Close[i]);
         }
      }
     
      
      //------------------------------------------------------------------------ 
      // carry forward the periods for which we have definite high/lows
      //
      if (inperiod>=1 && tday==thisday) { // first time period completed
         Zone1Upper[i]= tclose[0] + PipsForEntry*Point;
         Zone1Lower[i]= tclose[0] - PipsForEntry*Point;
    }
         
         CheckSignal(i, Zone1Upper[i], OP_BUY, EntrySignalsBuffer);
         CheckSignal(i, Zone1Lower[i], OP_SELL, EntrySignalsBuffer);
      }
    {   // none yet to carry forward (zero to clear old values, e.g. from switching timeframe)
         Zone1Upper[i]= 0;
         Zone1Lower[i]= 0;
      }
     

      //
      // at the beginning of a new day reset everything
      //
      if (tday!="XXX" && tday!=thisday) {
         Print("#", i, "new day ", thisday, "/", tday);
      
         tday= "XXX";
         
         inperiod= -1;
         
         for (j= 0; j<2; j++) {
            tidxstart[j]= 0;
            tidxend[j]= 0;
         
            topen[j]= 0;
            tclose[j]= 99999;
         }
      }
   }

   return (0);       
}
//+------------------------------------------------------------------+
//| Check price break                                                |
//+------------------------------------------------------------------+
bool CheckSignal(int shift, double price, int type, double &signalbuffer[]) 
{
   bool signal= false;

   if (type==OP_BUY && ((Open[shift]<price && High[shift]>price) || (Close[shift+1]<price && Open[shift]>price)) ) {
      signalbuffer[shift]= price;
      signal= true;
  }

   if (type==OP_SELL && (Open[shift]>price && Low[shift]<price) || (Close[shift+1]>price && Open[shift]<price)) {
      signalbuffer[shift]= price;
      signal= true;
  }
  
  return (signal);
}

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