DinapoliTargets_v2
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Overview of the DinapoliTargets Indicator
The DinapoliTargets script is a technical analysis tool designed to automate the identification of specific market price points and potential reversal zones. It works by analyzing historical price action to pinpoint significant "swings" in the market, allowing traders to visualize key entry points, stop-loss levels, and profit targets directly on their trading charts.
Core Logic and Functionality
1. Market Structure Analysis (Swing Detection)
The script scans the price history—specifically looking back over a defined number of candles—to identify "Swing Highs" and "Swing Lows." It does this by comparing current price movements against a set period of surrounding bars.
- Trend Identification: By detecting when the market shifts from a series of lower highs/higher lows to higher highs/lower lows, the tool establishes the momentum of the current move.
- Point Tracking: The script keeps a memory of these significant price peaks and valleys. It specifically tracks the most recent three distinct structural points (labeled as Point A, Point B, and Point C).
2. Geometric Calculations (The Fibonacci Influence)
Once the tool has identified the three most relevant structural points, it treats the movement between them as a geometric path. It calculates the distance between these points to determine the "strength" of the move. Using these distances, it generates several mathematical projections based on common trading ratios (specifically focusing on the 0.618 and 1.618 proportions).
3. Dynamic Visual Mapping
Instead of just providing raw numbers, the script automatically draws physical lines on your chart to represent four key levels in real-time:
- Start Line: This represents the calculated entry zone based on the current price momentum and the geometric structure of the move.
- Stop Line: This provides a visual safety net, suggesting a price level where the current trend would be considered invalidated (the "Stop Loss").
- Target 1, 2, and 3: These are three distinct profit-taking zones. They are calculated by projecting the distance of the previous move forward.
- Target 1 is a conservative goal based on specific ratios.
- Target 2 represents a standard extension of the current move.
- Target 3 represents an aggressive extended projection for high-momentum trends.
User Experience Summary
For the trader, this means you do not have to manually measure price distances or guess where a trend might exhaust itself. The script does the "heavy lifting" by scanning the history, identifying the structural geometry of the current market, and drawing clear, color-coded dotted lines that tell you exactly where the math suggests the price is headed next.
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DinapoliTargets_v2
/*-----------------------------+
| |
| Shared by www.Aptrafx.com |
| |
+------------------------------*/
//+------------------------------------------------------------------+
//| DinapoliTargets.mq4 |
//| mishanya_fx@yahoo.com |
//| |
//+------------------------------------------------------------------+
#property copyright "mishanya"
#property link "mishanya_fx@yahoo.com"
#property indicator_chart_window
#property indicator_buffers 1
#property indicator_color1 Blue
//---- input parameters
extern int barn=300;
extern int Length=6;
//---- buffers
double ExtMapBuffer1[];
//double ExtMapBuffer2[];
//+------------------------------------------------------------------+
//| Custom indicator initialization function |
//+------------------------------------------------------------------+
int init()
{
//---- indicators
SetIndexEmptyValue(0,0.0);
//SetIndexDrawBegin(0, barn);
//SetIndexStyle(0,DRAW_SECTION);
SetIndexBuffer(0,ExtMapBuffer1);
//----
return(0);
}
//+------------------------------------------------------------------+
//| Custor indicator deinitialization function |
//+------------------------------------------------------------------+
int deinit()
{
ObjectDelete("Start line");
ObjectDelete("Stop line");
ObjectDelete("Target1 line");
ObjectDelete("Target2 line");
ObjectDelete("Target3 line");
return(0);
}
//+------------------------------------------------------------------+
//| Custom indicator iteration function |
//+------------------------------------------------------------------+
int start()
{
int counted_bars=IndicatorCounted();
int shift,Swing,Swing_n,uzl,i,zu,zd,mv;
double PointA,PointB,PointC,Target1,Target2,Target3,Fantnsy,CrazyDream,Start,Stop;
double LL,HH,BH,BL,NH,NL;
double Uzel[10000][3];
string text;
// loop from first bar to current bar (with shift=0)
Swing_n=0;Swing=0;uzl=0;
BH =High[barn];BL=Low[barn];zu=barn;zd=barn;
for (shift=barn;shift>=0;shift--) {
LL=10000000;HH=-100000000;
for (i=shift+Length;i>=shift+1;i--) {
if (Low[i]< LL) {LL=Low[i];}
if (High[i]>HH) {HH=High[i];}
}
if (Low[shift]<LL && High[shift]>HH){
Swing=2;
if (Swing_n==1) {zu=shift+1;}
if (Swing_n==-1) {zd=shift+1;}
} else {
if (Low[shift]<LL) {Swing=-1;}
if (High[shift]>HH) {Swing=1;}
}
if (Swing!=Swing_n && Swing_n!=0) {
if (Swing==2) {
Swing=-Swing_n;BH = High[shift];BL = Low[shift];
}
uzl=uzl+1;
if (Swing==1) {
Uzel[uzl][1]=zd;
Uzel[uzl][2]=BL;
}
if (Swing==-1) {
Uzel[uzl][1]=zu;
Uzel[uzl][2]=BH;
}
BH = High[shift];
BL = Low[shift];
}
if (Swing==1) {
if (High[shift]>=BH) {BH=High[shift];zu=shift;}}
if (Swing==-1) {
if (Low[shift]<=BL) {BL=Low[shift]; zd=shift;}}
Swing_n=Swing;
}
for (i=1;i<=uzl;i++) {
//text=DoubleToStr(Uzel[i][1],0);
//text=;
mv=StrToInteger(DoubleToStr(Uzel[i][1],0));
//ExtMapBuffer1[mv]=Uzel[i][2];
}
PointA = Uzel[uzl-2][2];
PointB = Uzel[uzl-1][2];
PointC = Uzel[uzl][2];
Comment(PointA," ",PointB," ",PointC);
Target1=NormalizeDouble((PointB-PointA)*0.618+PointC,4);
Target2=PointB-PointA+PointC;
Target3=NormalizeDouble((PointB-PointA)*1.618+PointC,4);
Fantnsy=NormalizeDouble((PointB-PointA)*2.618+PointC,4);
CrazyDream=NormalizeDouble((PointB-PointA)*4.618+PointC,4);
if (PointB<PointC)
{
Start= NormalizeDouble((PointB-PointA)*0.318+PointC,4)-(Ask-Bid);
Stop=PointC+2*(Ask-Bid);
}
if (PointB>PointC)
{
Start= NormalizeDouble((PointB-PointA)*0.318+PointC,4)+(Ask-Bid);
Stop=PointC-2*(Ask-Bid);
}
if (ObjectFind("Start Line") != 0)
{
ObjectCreate("Start line",OBJ_HLINE,0,Time[0],Start);
ObjectSet("Start line",OBJPROP_COLOR,Honeydew);
ObjectSet("Start line",OBJPROP_WIDTH,1);
ObjectSet("Start line",OBJPROP_STYLE,STYLE_DOT);
}
else
{
ObjectMove("Start line", 0,Time[0],Start);
}
if (ObjectFind("Stop Line") != 0)
{
ObjectCreate("Stop line",OBJ_HLINE,0,Time[0],Stop);
ObjectSet("Stop line",OBJPROP_COLOR,Red);
ObjectSet("Stop line",OBJPROP_WIDTH,1);
ObjectSet("Stop line",OBJPROP_STYLE,STYLE_DOT);
}
else
{
ObjectMove("Stop line", 0,Time[0],Stop);
}
if (ObjectFind("Target1 Line") != 0)
{
ObjectCreate("Target1 line",OBJ_HLINE,0,Time[0],Target1);
ObjectSet("Target1 line",OBJPROP_COLOR,Green);
ObjectSet("Target1 line",OBJPROP_WIDTH,1);
ObjectSet("Target1 line",OBJPROP_STYLE,STYLE_DOT);
}
else
{
ObjectMove("Target1 line", 0,Time[0],Target1);
}
if (ObjectFind("Target2 Line") != 0)
{
ObjectCreate("Target2 line",OBJ_HLINE,0,Time[0],Target2);
ObjectSet("Target2 line",OBJPROP_COLOR,Yellow);
ObjectSet("Target2 line",OBJPROP_WIDTH,1);
ObjectSet("Target2 line",OBJPROP_STYLE,STYLE_DOT);
}
else
{
ObjectMove("Target2 line", 0,Time[0],Target2);
}
if (ObjectFind("Target3 Line") != 0)
{
ObjectCreate("Target3 line",OBJ_HLINE,0,Time[0],Target3);
ObjectSet("Target3 line",OBJPROP_COLOR,DarkOrchid);
ObjectSet("Target3 line",OBJPROP_WIDTH,1);
ObjectSet("Target3 line",OBJPROP_STYLE,STYLE_DOT);
}
else
{
ObjectMove("Target3 line", 0,Time[0],Target3);
}
return(0);
}
//+------------------------------------------------------------------+
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