camarilladtHistorical_V4

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Author: Copyright � 2005, MetaQuotes Software Corp.
camarilladtHistorical_V4

This script is a specialized technical analysis tool designed for the MetaTrader platform. It automatically calculates and visualizes "Camarilla Pivot Points" on a trading chart, which are specific price levels used by traders to identify potential areas of support and resistance.

Core Functionality

The primary purpose of this tool is to take historical price data—specifically the high, low, and closing prices from the previous trading day—and use them to project significant price boundaries for the current day. Instead of just showing a single average price, it breaks down the market range into multiple specific levels (H3, H4, H5 and L3, L4, L5) to help traders identify where the market might encounter "friction" or trend reversals.

How the Logic Works

  • Data Processing: The script scans through historical price bars to identify the completion of each trading day. It captures three key pieces of information from every finished day: the highest price reached, the lowest price reached, and the final closing price.
  • Dynamic Calculations: Once a new day begins, the script applies mathematical formulas to that previous day's data. It calculates a central "Pivot" point as well as several upper (Resistance) and lower (Support) levels. These levels are distributed based on specific percentages of the previous day's total price range.
  • Timezone Awareness: The logic includes a shift setting to ensure that the transition between trading days is calculated accurately, accounting for different global timezones (GMT). It specifically handles the unique logic required for weekend transitions to ensure calculations remain consistent.
  • Visual Mapping: Rather than just showing raw numbers in a list, the script draws these levels as horizontal lines directly on your price chart. This allows you to see exactly where historical support and resistance zones sit in relation to current price movement.

Key Features for the User

  • Automated Labeling: The tool automatically places text labels (such as "H3", "L4", etc.) on the chart. These labels move dynamically to remain visible, making it easy to identify which line represents which specific price level at a glance.
  • Visual Organization: Different levels are color-coded—typically using blue for upper resistance levels and red for lower support levels—to help distinguish between "ceiling" and "floor" price targets instantly.
  • Compatibility Check: To ensure accuracy, the script includes a built-in safety check; it will notify the user if the chart timeframe is too large (greater than 4 hours), as pivot points calculated on higher timeframes can lose their intended significance.

Summary for Traders

Essentially, this tool transforms raw historical data into a visual roadmap. It tells you: "Based on how the market behaved yesterday, here are the specific price levels where we expect it might struggle to move higher or drop lower today." It automates the complex math of Camarilla calculations so you can focus on identifying high-probability entry and exit points.

Price Data Components
Series array that contains open time of each bar
Miscellaneous
Implements a curve of type %1It issuies visual alerts to the screen
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camarilladtHistorical_V4 
//+------------------------------------------------------------------+
//|                                     camarilladtHistorical_V4.mq4 |
//|                      Copyright © 2005, MetaQuotes Software Corp. |
//|                                        http://www.metaquotes.net |
//| Modified to chart historical camarilla pivots by MrPip           |
//| 3/28/06 Fixed problem of Sunday/Monday pivots                    |
//|         and added some ideas from goodtiding5 (Kenneth Z.)       |
//+------------------------------------------------------------------+
#property copyright "Copyright © 2005, MetaQuotes Software Corp."
#property link      "http://www.metaquotes.net"

#property indicator_chart_window
#property indicator_buffers 7
#property indicator_color1 Blue
#property indicator_color2 Blue
#property indicator_color3 Blue
#property indicator_color4 Orange
#property indicator_color5 Red
#property indicator_color6 Red
#property indicator_color7 Red
#property indicator_width1 2
#property indicator_width2 2
#property indicator_width3 2
#property indicator_width4 1
#property indicator_width5 2
#property indicator_width6 2
#property indicator_width7 2

//---- input parameters

extern int  GMTshift=0;
extern color HColor = Blue;
extern color LColor = Red;
extern int fontsize=10;
extern int LabelShift=20;

double H5Buffer[];
double H4Buffer[];
double H3Buffer[];
double PivotBuffer[];
double L3Buffer[];
double L4Buffer[];
double L5Buffer[];

double P, H3, H4, H5;
double L3, L4, L5;

double D1=0.091667;
double D2=0.183333;
double D3=0.2750;
double D4=0.55;

double prev_high=0;
double prev_low=0;
double prev_close=0;
double cur_day=0;
double prev_day=0;
double day_high=0;
double day_low=0;

//+------------------------------------------------------------------+
//| Custom indicator initialization function                         |
//+------------------------------------------------------------------+
int init()
  {
   IndicatorBuffers(7);
//---- indicators
   SetIndexStyle(0,DRAW_LINE, 0,2,Blue);
   SetIndexBuffer(0,H5Buffer);
   SetIndexStyle(1,DRAW_LINE, 0,2,Blue);
   SetIndexBuffer(1,H4Buffer);
   SetIndexStyle(2,DRAW_LINE, 0,2,Blue);
   SetIndexBuffer(2,H3Buffer);
   SetIndexStyle(3,DRAW_LINE, 0,2,Orange);
   SetIndexBuffer(3,PivotBuffer);
   SetIndexStyle(4,DRAW_LINE, 0,2,Red);
   SetIndexBuffer(4,L3Buffer);
   SetIndexStyle(5,DRAW_LINE, 0,2,Red);
   SetIndexBuffer(5,L4Buffer);
   SetIndexStyle(6,DRAW_LINE, 0,2,Red);
   SetIndexBuffer(6,L5Buffer);
   
   SetIndexLabel(0,"H5");
   SetIndexLabel(1,"H4");
   SetIndexLabel(2,"H3");
   SetIndexLabel(3,"Pivot");
   SetIndexLabel(4,"L3");
   SetIndexLabel(5,"L4");
   SetIndexLabel(6,"L5");

   
//----
//   IndicatorShortName("Cam Pivots");
//----
   return(0);
  }
//+------------------------------------------------------------------+
//| Custor indicator deinitialization function                       |
//+------------------------------------------------------------------+
int deinit()
  {
//---- TODO: add your code here
   ObjectDelete("CamPivot");
   ObjectDelete("SupL3");
   ObjectDelete("ResH3");
   ObjectDelete("SupL4");
   ObjectDelete("ResH4");
   ObjectDelete("SupL5");
   ObjectDelete("ResH5");   
   Comment("");
//----
   return(0);
  }

//+------------------------------------------------------------------+
//| Custom indicator iteration function                              |
//+------------------------------------------------------------------+
int start()
  {
   int    counted_bars=IndicatorCounted();
   int cnt, limit;

//---- exit if period is greater than 4 hr charts
   if(Period() > 240)
   {
      Alert("Error - Chart period is greater than 4 Hr.");
      return(-1); // then exit
   }
   if(counted_bars<0) return(-1);

//---- last counted bar will be recounted
//   if(counted_bars>0) counted_bars--;

//   limit=(Bars-counted_bars)-1;
   limit=counted_bars;
Comment("Limit = ",limit," Bars = ",Bars);

//---- Get new daily prices & calculate pivots

   for (cnt=limit;cnt >=0;cnt--)
   {
   	if (TimeDayOfWeek(Time[cnt]) == 0)
	   {
        cur_day = prev_day;
	   }
	   else
	   {
        cur_day = TimeDay(Time[cnt]- (GMTshift*3600));
	   }
	   
   	if (prev_day != cur_day)
   	{
	   	prev_close = Close[cnt+1];
		   prev_high = day_high;
		   prev_low = day_low;

	      day_high = High[cnt];
 	      day_low  = Low[cnt];

P = (prev_high + prev_low + prev_close)/3;//Pivot
//---- To display all 8 Camarilla pivots remove comment symbols below and
// add the appropriate object functions below
H5 = (prev_high/prev_low)*prev_close;
H4 = ((prev_high - prev_low)* D4) + prev_close;
H3 = ((prev_high - prev_low)* D3) + prev_close;
//H2 = ((prev_high - prev_low) * D2) + prev_close;
//H1 = ((prev_high - prev_low) * D1) + prev_close;

//L1 = prev_close - ((prev_high - prev_low)*(D1));
//L2 = prev_close - ((prev_high - prev_low)*(D2));
L3 = prev_close - ((prev_high - prev_low)*(D3));
L4 = prev_close - ((prev_high - prev_low)*(D4));
L5 = prev_close - (H5 - prev_close);

		   prev_day = cur_day;
	   }
      if (High[cnt]>day_high)
      {
         day_high = High[cnt];
      }
      if (Low[cnt]<day_low)
      {
         day_low = Low[cnt];
      }
      
      
      
//         day_low=Open[cnt]; day_high=Open[cnt];
      
      

//---  Draw  Pivot lines on chart

      PivotBuffer[cnt]=P;
      H5Buffer[cnt]=H5;
      H4Buffer[cnt]=H4;
      H3Buffer[cnt]=H3;
      L3Buffer[cnt]=L3;
      L4Buffer[cnt]=L4;
      L5Buffer[cnt]=L5;
      
   }

   if (cur_day == TimeDay(CurTime()))   DisplayLabels();
//----
   return(0);
  }

void DisplayLabels()
{
      if(ObjectFind("CamPivot") != 0)
      {
        ObjectCreate("CamPivot", OBJ_TEXT, 0, 0,0);
        ObjectSetText("CamPivot", "                 Pivot",fontsize,"Arial",Orange);
      }
      else
      {
        ObjectMove("CamPivot", 0, Time[20],P);
      }
      
      if(ObjectFind("SupL3") != 0)
      {
      ObjectCreate("SupL3", OBJ_TEXT, 0, 0, 0);
      ObjectSetText("SupL3", "      L 3",fontsize,"Arial",LColor);
      }
      else
      {
         ObjectMove("SupL3", 0, Time[20],L3);
      }
      
      if(ObjectFind("ResH3") != 0)
      {
      ObjectCreate("ResH3", OBJ_TEXT, 0, 0, 0);
      ObjectSetText("ResH3", "      H 3",fontsize,"Arial",HColor);
      }
      else
      {
         ObjectMove("ResH3", 0, Time[20],H3);
      }
      
      if(ObjectFind("SupL4") != 0)
      {
      ObjectCreate("SupL4", OBJ_TEXT, 0, 0, 0);
      ObjectSetText("SupL4", "      L 4",fontsize,"Arial",LColor);
      }
      else
      {
         ObjectMove("SupL4", 0, Time[20],L4);
      }
      
      if(ObjectFind("ResH4") != 0)
      {
      ObjectCreate("ResH4", OBJ_TEXT, 0, 0, 0);
      ObjectSetText("ResH4", "      H 4",fontsize,"Arial",HColor);
      }
      else
      {
         ObjectMove("ResH4", 0, Time[20],H4);
      }
      
      if(ObjectFind("SupL5") != 0)
      {
      ObjectCreate("SupL5", OBJ_TEXT, 0, 0, 0);
      ObjectSetText("SupL5", "      L 5",fontsize,"Arial",LColor);
      }
      else
      {
         ObjectMove("SupL5", 0, Time[20],L5);
      }
      
      if(ObjectFind("ResH5") != 0)
      {
      ObjectCreate("ResH5", OBJ_TEXT, 0, 0, 0);
      ObjectSetText("ResH5", "      H 5",fontsize,"Arial",HColor);
      }
      else
      {
         ObjectMove("ResH5", 0, Time[20],H5);
      }
}
//+------------------------------------------------------------------+

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