This script is designed as a technical analysis tool for the MetaTrader 4 platform, specifically created to automate the identification and visualization of DeMarkvolatility (TD) price points. It provides traders with a systematic way to identify key structural "peaks" and "troughs" in price action, which are often used to determine trend exhaustion or potential reversal zones.
Core Logic and Functionality
1. Identification of Key Price Points The primary engine of the script scans historical price data to locate specific high and low points. It offers two distinct modes for this identification:
- Standard TD Points: These are identified by comparing the highs and lows of a candle against its immediate neighbors and the closing price of adjacent candles. This identifies "significant" pivot points based on the DeMark methodology.
- Fractal Mode: Alternatively, the user can toggle a setting to use standard Fractal geometry as the basis for these points, which identifies local tops and bottoms where the current high/low is higher or lower than the surrounding bars.
2. Multi-Step Analysis (Sequence Tracking) Unlike simple indicators that only show the most recent point, this script can track multiple "steps" of data. It looks backward through history to find sequences of consecutive TD points. For example, if you enable multiple steps, it will identify not just the last peak, but also the peaks preceding it in the chronological sequence.
3. Visual Mapping and Geometric Drawing Once these structural points are identified, the script automatically draws several types of geometric objects on the chart:
- Trend Lines: It connects consecutive high points (Upper TD) and low points (Lower TD) to visually represent the current market structure and trend direction.
- Horizontal Levels: For the most recent data points, it can project horizontal lines to mark specific price levels of interest.
- Take-Profit Projections: One of the more advanced features of the script is its ability to calculate "Estimated Targets." By measuring the distance and angle between two identified TD points, the script calculates projected price targets (labeled as Target 1, 2, and 3). It then draws trend lines extending from the current point toward these calculated zones.
4. On-Chart Reporting The script provides a real-time text summary in the corner of the trading chart. This text feed acts as a status dashboard, informing the user:
- The specific price values of the most recent identified TD points.
- Whether the required number of historical points exists to complete a calculation.
- A detailed list of the calculated take-profit prices based on the current trend geometry.
Summary for the User
In simple terms, this script acts as an automated "structural mapper." It looks at the past price movements to find significant peaks and valleys, draws lines connecting them to show you the trend, and then projects potential future targets based on the mathematical relationship between those peaks and valleys. It transforms abstract price movement into a visual roadmap of support, resistance, and target zones.
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Ind-TD-DeMark-3-1_eng
//+------------------------------------------------------------------+
//| Ind-TD-DeMark-3-1.mq4 |
//| Copyright © 2005, Kara Software Corp. |
//| |
//+------------------------------------------------------------------+
#property copyright "Copyright © 2005, Kara Software Corp."
#property link ""
#property indicator_chart_window
#property indicator_buffers 2
#property indicator_color1 Red
#property indicator_color2 Blue
//---- input parameters
extern int BackSteps=0;
extern int ShowingSteps=1;
extern bool FractalAsTD=false;
extern bool Commen=true;
extern bool TD=true;
extern bool TrendLine=true;
extern bool HorizontLine=true;
extern bool TakeProf=true;
//---- buffers
double ExtMapBuffer1[];
double ExtMapBuffer2[];
//====================================================================
int init()
{
SetIndexStyle(0,DRAW_ARROW);
SetIndexArrow(0,217);
SetIndexBuffer(0,ExtMapBuffer1);
SetIndexEmptyValue(0,0.0);
SetIndexStyle(1,DRAW_ARROW);
SetIndexArrow(1,218);
SetIndexBuffer(1,ExtMapBuffer2);
SetIndexEmptyValue(1,0.0);
for (int i=1;i<=10;i++)
{
ObjectDelete("HHL_"+i);ObjectDelete("HL_"+i);
ObjectDelete("HLL_"+i);ObjectDelete("LL_"+i);
ObjectDelete("HC1_"+i);
ObjectDelete("HC2_"+i);
ObjectDelete("HC3_"+i);
ObjectDelete("LC1_"+i);
ObjectDelete("LC2_"+i);
ObjectDelete("LC3_"+i);
}
Comment("");
return(0);
}
int deinit()
{
for (int i=1;i<=10;i++)
{
ObjectDelete("HHL_"+i);ObjectDelete("HL_"+i);
ObjectDelete("HLL_"+i);ObjectDelete("LL_"+i);
ObjectDelete("HC1_"+i);
ObjectDelete("HC2_"+i);
ObjectDelete("HC3_"+i);
ObjectDelete("LC1_"+i);
ObjectDelete("LC2_"+i);
ObjectDelete("LC3_"+i);
}
Comment("");
return(0);
}
//--------------------------------------------------------------------
int SetTDPoint(int B)
{
int shift;
if (FractalAsTD==false)
{
for (shift=B;shift>1;shift--)
{
if (High[shift+1]<High[shift] && High[shift-1]<High[shift] && Close[shift+2]<High[shift])
ExtMapBuffer1[shift]=High[shift];
else ExtMapBuffer1[shift]=0;
if (Low[shift+1]>Low[shift] && Low[shift-1]>Low[shift] && Close[shift+2]>Low[shift])
ExtMapBuffer2[shift]=Low[shift];
else ExtMapBuffer2[shift]=0;
}
ExtMapBuffer1[0]=0;
ExtMapBuffer2[0]=0;
ExtMapBuffer1[1]=0;
ExtMapBuffer2[1]=0;
}
else
{
for (shift=B;shift>3;shift--)
{
if (High[shift+1]<=High[shift] && High[shift-1]<High[shift] && High[shift+2]<=High[shift] && High[shift-2]<High[shift])
ExtMapBuffer1[shift]=High[shift];
else ExtMapBuffer1[shift]=0;
if (Low[shift+1]>=Low[shift] && Low[shift-1]>Low[shift] && Low[shift+2]>=Low[shift] && Low[shift-2]>Low[shift])
ExtMapBuffer2[shift]=Low[shift];
else ExtMapBuffer2[shift]=0;
}
ExtMapBuffer1[0]=0;
ExtMapBuffer2[0]=0;
ExtMapBuffer1[1]=0;
ExtMapBuffer2[1]=0;
ExtMapBuffer1[2]=0;
ExtMapBuffer2[2]=0;
}
return(0);
}
//--------------------------------------------------------------------
int GetHighTD(int P)
{
int i=0,j=0;
while (j<P)
{
i++;
while(ExtMapBuffer1[i]==0)
{i++;if(i>Bars-2)return(-1);}
j++;
}
return (i);
}
//--------------------------------------------------------------------
int GetNextHighTD(int P)
{
int i=P+1;
while(ExtMapBuffer1[i]<=High[P]){i++;if(i>Bars-2)return(-1);}
return (i);
}
//--------------------------------------------------------------------
int GetLowTD(int P)
{
int i=0,j=0;
while (j<P)
{
i++;
while(ExtMapBuffer2[i]==0)
{i++;if(i>Bars-2)return(-1);}
j++;
}
return (i);
}
//--------------------------------------------------------------------
int GetNextLowTD(int P)
{
int i=P+1;
while(ExtMapBuffer2[i]>=Low[P] || ExtMapBuffer2[i]==0){i++;if(i>Bars-2)return(-1);}
return (i);
}
//--------------------------------------------------------------------
int TrendLineHighTD(int H1,int H2,int Step,int Col)
{
ObjectSet("HL_"+Step,OBJPROP_TIME1,Time[H2]);ObjectSet("HL_"+Step,OBJPROP_TIME2,Time[H1]);
ObjectSet("HL_"+Step,OBJPROP_PRICE1,High[H2]);ObjectSet("HL_"+Step,OBJPROP_PRICE2,High[H1]);
ObjectSet("HL_"+Step,OBJPROP_COLOR,Col);
if (Step==1)ObjectSet("HL_"+Step,OBJPROP_WIDTH,2);
else ObjectSet("HL_"+Step,OBJPROP_WIDTH,1);
return(0);
}
//--------------------------------------------------------------------
int TrendLineLowTD(int L1,int L2,int Step,int Col)
{
ObjectSet("LL_"+Step,OBJPROP_TIME1,Time[L2]);ObjectSet("LL_"+Step,OBJPROP_TIME2,Time[L1]);
ObjectSet("LL_"+Step,OBJPROP_PRICE1,Low[L2]);ObjectSet("LL_"+Step,OBJPROP_PRICE2,Low[L1]);
ObjectSet("LL_"+Step,OBJPROP_COLOR,Col);
if (Step==1)ObjectSet("LL_"+Step,OBJPROP_WIDTH,2);
else ObjectSet("LL_"+Step,OBJPROP_WIDTH,1);
return(0);
}
//--------------------------------------------------------------------
int HorizontLineHighTD(int H1,int H2,int Step,double St,int Col)
{
ObjectSet("HHL_"+Step,OBJPROP_PRICE1,High[H2]-(High[H2]-High[H1])/(H2-H1)*H2);
ObjectSet("HHL_"+Step,OBJPROP_STYLE,St);
ObjectSet("HHL_"+Step,OBJPROP_COLOR,Col);
return(0);
}
//--------------------------------------------------------------------
int HorizontLineLowTD(int L1,int L2,int Step,double St,int Col)
{
ObjectSet("HLL_"+Step,OBJPROP_PRICE1,Low[L2]+(Low[L1]-Low[L2])/(L2-L1)*L2);
ObjectSet("HLL_"+Step,OBJPROP_STYLE,St);
ObjectSet("HLL_"+Step,OBJPROP_COLOR,Col);
return(0);
}
//--------------------------------------------------------------------
string TakeProfitHighTD(int H1,int H2,int Step,int Col)
{
int i,ii,j=0;
string Comm="";
double kH,HC1,HC2,HC3,k,St;
kH=(High[H2]-High[H1])/(H2-H1);
while (NormalizeDouble(Point,j)==0)j++;
k=0;
for(i=H1;i>0;i--)if(Close[i]>High[H2]-kH*(H2-i)){k=High[H2]-kH*(H2-i);break;}
if (k>0)
{
Comm=Comm+"UTD_Line ("+DoubleToStr(High[H2]-kH*H2,j)+") hit the point "+DoubleToStr(k,j)+", target above:\n";
ii=Lowest(NULL,0,MODE_LOW,H2-i,i);
HC1=High[H2]-kH*(H2-ii)-Low[ii];
HC2=High[H2]-kH*(H2-ii)-Close[ii];
ii=Lowest(NULL,0,MODE_CLOSE,H2-i,i);
HC3=High[H2]-kH*(H2-ii)-Close[ii];
St=STYLE_SOLID;
}
else
{
k=High[H2]-kH*H2;
Comm=Comm+"UTD_Line ("+DoubleToStr(k,j)+"), estimated targets above if hit:\n";
ii=Lowest(NULL,0,MODE_LOW,H2,0);
HC1=High[H2]-kH*(H2-ii)-Low[ii];
HC2=High[H2]-kH*(H2-ii)-Close[ii];
ii=Lowest(NULL,0,MODE_CLOSE,H2,0);
HC3=High[H2]-kH*(H2-ii)-Close[ii];
St=STYLE_DASHDOT;
}
ObjectSet("HL_"+Step,OBJPROP_STYLE,St);
Comm=Comm+"Target1="+DoubleToStr(HC1+k,j)+" ("+DoubleToStr(HC1/Point,0)+"p.)";
Comm=Comm+" Target2="+DoubleToStr(HC2+k,j)+" ("+DoubleToStr(HC2/Point,0)+"p.)";
Comm=Comm+" Target3="+DoubleToStr(HC3+k,j)+" ("+DoubleToStr(HC3/Point,0)+"p.)\n";
ObjectSet("HC1_"+Step,OBJPROP_TIME1,Time[H1]);ObjectSet("HC1_"+Step,OBJPROP_TIME2,Time[0]);
ObjectSet("HC1_"+Step,OBJPROP_PRICE1,HC1+k);ObjectSet("HC1_"+Step,OBJPROP_PRICE2,HC1+k);
ObjectSet("HC1_"+Step,OBJPROP_COLOR,Col);ObjectSet("HC1_"+Step,OBJPROP_STYLE,St);
ObjectSet("HC2_"+Step,OBJPROP_TIME1,Time[H1]);ObjectSet("HC2_"+Step,OBJPROP_TIME2,Time[0]);
ObjectSet("HC2_"+Step,OBJPROP_PRICE1,HC2+k);ObjectSet("HC2_"+Step,OBJPROP_PRICE2,HC2+k);
ObjectSet("HC2_"+Step,OBJPROP_COLOR,Col);ObjectSet("HC2_"+Step,OBJPROP_STYLE,St);
ObjectSet("HC3_"+Step,OBJPROP_TIME1,Time[H1]);ObjectSet("HC3_"+Step,OBJPROP_TIME2,Time[0]);
ObjectSet("HC3_"+Step,OBJPROP_PRICE1,HC3+k);ObjectSet("HC3_"+Step,OBJPROP_PRICE2,HC3+k);
ObjectSet("HC3_"+Step,OBJPROP_COLOR,Col);ObjectSet("HC3_"+Step,OBJPROP_STYLE,St);
if (Step==1)
{
ObjectSet("HC1_"+Step,OBJPROP_WIDTH,2);
ObjectSet("HC2_"+Step,OBJPROP_WIDTH,2);
ObjectSet("HC3_"+Step,OBJPROP_WIDTH,2);
}
else
{
ObjectSet("HC1_"+Step,OBJPROP_WIDTH,1);
ObjectSet("HC2_"+Step,OBJPROP_WIDTH,1);
ObjectSet("HC3_"+Step,OBJPROP_WIDTH,1);
}
return(Comm);
}
//--------------------------------------------------------------------
string TakeProfitLowTD(int L1,int L2,int Step,int Col)
{
int i,ii,j=0;
string Comm="";
double kL,LC1,LC2,LC3,k,St;
kL=(Low[L1]-Low[L2])/(L2-L1);
while (NormalizeDouble(Point,j)==0)j++;
k=0;
for(i=L1;i>0;i--)if(Close[i]<Low[L2]+kL*(L2-i)){k=Low[L2]+kL*(L2-i);break;}
if (k>0)
{
Comm=Comm+"LTD_Line ("+DoubleToStr(Low[L2]+kL*L2,j)+") hit the point "+DoubleToStr(k,j)+", targets below:\n";
ii=Highest(NULL,0,MODE_HIGH,L2-i,i);
LC1=High[ii]-(Low[L2]+kL*(L2-ii));
LC2=Close[ii]-(Low[L2]+kL*(L2-ii));
i=Highest(NULL,0,MODE_CLOSE,L2-i,i);
LC3=Close[ii]-(Low[L2]+kL*(L2-ii));
St=STYLE_SOLID;
}
else
{
k=Low[L2]+kL*L2;
Comm=Comm+"LTD_Line ("+DoubleToStr(k,j)+"), estimated targets below if hit:\n";
ii=Highest(NULL,0,MODE_HIGH,L2,0);
LC1=High[ii]-(Low[L2]+kL*(L2-ii));
LC2=Close[ii]-(Low[L2]+kL*(L2-ii));
ii=Highest(NULL,0,MODE_CLOSE,L2,0);
LC3=Close[ii]-(Low[L2]+kL*(L2-ii));
St=STYLE_DASHDOT;
}
ObjectSet("LL_"+Step,OBJPROP_STYLE,St);
Comm=Comm+"Target1="+DoubleToStr(k-LC1,j)+" ("+DoubleToStr(LC1/Point,0)+"p.)";
Comm=Comm+" Target2="+DoubleToStr(k-LC2,j)+" ("+DoubleToStr(LC2/Point,0)+"p.)";
Comm=Comm+" Target3="+DoubleToStr(k-LC3,j)+" ("+DoubleToStr(LC3/Point,0)+"p.)\n";
ObjectSet("LC1_"+Step,OBJPROP_TIME1,Time[L1]);ObjectSet("LC1_"+Step,OBJPROP_TIME2,Time[0]);
ObjectSet("LC1_"+Step,OBJPROP_PRICE1,k-LC1);ObjectSet("LC1_"+Step,OBJPROP_PRICE2,k-LC1);
ObjectSet("LC1_"+Step,OBJPROP_COLOR,Col);ObjectSet("LC1_"+Step,OBJPROP_STYLE,St);
ObjectSet("LC2_"+Step,OBJPROP_TIME1,Time[L1]);ObjectSet("LC2_"+Step,OBJPROP_TIME2,Time[0]);
ObjectSet("LC2_"+Step,OBJPROP_PRICE1,k-LC2);ObjectSet("LC2_"+Step,OBJPROP_PRICE2,k-LC2);
ObjectSet("LC2_"+Step,OBJPROP_COLOR,Col);ObjectSet("LC2_"+Step,OBJPROP_STYLE,St);
ObjectSet("LC3_"+Step,OBJPROP_TIME1,Time[L1]);ObjectSet("LC3_"+Step,OBJPROP_TIME2,Time[0]);
ObjectSet("LC3_"+Step,OBJPROP_PRICE1,k-LC3);ObjectSet("LC3_"+Step,OBJPROP_PRICE2,k-LC3);
ObjectSet("LC3_"+Step,OBJPROP_COLOR,Col);ObjectSet("LC3_"+Step,OBJPROP_STYLE,St);
if (Step==1)
{
ObjectSet("LC1_"+Step,OBJPROP_WIDTH,2);
ObjectSet("LC2_"+Step,OBJPROP_WIDTH,2);
ObjectSet("LC3_"+Step,OBJPROP_WIDTH,2);
}
else
{
ObjectSet("LC1_"+Step,OBJPROP_WIDTH,1);
ObjectSet("LC2_"+Step,OBJPROP_WIDTH,1);
ObjectSet("LC3_"+Step,OBJPROP_WIDTH,1);
}
return(Comm);
}
//--------------------------------------------------------------------
string TDMain(int Step)
{
int H1,H2,L1,L2;
string Comm="--- STEP "+Step+" --------------------\n";
int i,j; while (NormalizeDouble(Point,j)==0)j++;
double Style;
double Col[20];Col[0]=Red;Col[2]=Magenta;Col[4]=Chocolate;Col[6]=Goldenrod;Col[8]=SlateBlue;
Col[1]=Blue;Col[3]=DeepSkyBlue;Col[5]=Green;Col[7]=MediumOrchid;Col[9]=CornflowerBlue;
Col[10]=Red;Col[12]=Magenta;Col[14]=Chocolate;Col[16]=Goldenrod;Col[18]=SlateBlue;
Col[11]=Blue;Col[13]=DeepSkyBlue;Col[15]=Green;Col[17]=MediumOrchid;Col[19]=CornflowerBlue;
Step=Step+BackSteps;
H1=GetHighTD(Step);
H2=GetNextHighTD(H1);
L1=GetLowTD(Step);
L2=GetNextLowTD(L1);
if (H1<0)Comm=Comm+"UTD on the chart: no above TD point \n";
else
if (H2<0)Comm=Comm+"UTD on the chart: no TD point above the last one ("+DoubleToStr(High[H1],j)+")\n";
else Comm=Comm+"UTD "+DoubleToStr(High[H2],j)+" "+DoubleToStr(High[H1],j)+"\n";
if (L1<0)Comm=Comm+"LTD on the chart: no below TD point \n";
else
if (L2<0)Comm=Comm+"LTD on the chart: no TD point below the last one ("+DoubleToStr(Low[L1],j)+")\n";
else Comm=Comm+"LTD "+DoubleToStr(Low[L2],j)+" "+DoubleToStr(Low[L1],j)+"\n";
//-----------------------------------------------------------------------------------
if (Step==1)Style=STYLE_SOLID;
else Style=STYLE_DOT;
if (H1>0 && H2>0)
{
if (TrendLine==1)
{
ObjectCreate("HL_"+Step,OBJ_TREND,0,0,0,0,0);
TrendLineHighTD(H1,H2,Step,Col[Step*2-2]);
}
else ObjectDelete("HL_"+Step);
if (HorizontLine==1 && Step==1)
{
ObjectCreate("HHL_"+Step,OBJ_HLINE,0,0,0,0,0);
HorizontLineHighTD(H1,H2,Step,Style,Col[Step*2-2]);
}
else ObjectDelete("HHL_"+Step);
if (TakeProf==1)
{
ObjectCreate("HC1_"+Step,OBJ_TREND,0,0,0,0,0);
ObjectCreate("HC2_"+Step,OBJ_TREND,0,0,0,0,0);
ObjectCreate("HC3_"+Step,OBJ_TREND,0,0,0,0,0);
Comm=Comm+TakeProfitHighTD(H1,H2,Step,Col[Step*2-2]);
}
else
{
ObjectDelete("HC1_"+Step);
ObjectDelete("HC2_"+Step);
ObjectDelete("HC3_"+Step);
}
}
//-----------------------------------------------------------------------------------
if (L1>0 && L2>0)
{
if (TrendLine==1)
{
ObjectCreate("LL_"+Step,OBJ_TREND,0,0,0,0,0);
TrendLineLowTD(L1,L2,Step,Col[Step*2-1]);
}
else ObjectDelete("LL_"+Step);
if (HorizontLine==1 && Step==1)
{
ObjectCreate("HLL_"+Step,OBJ_HLINE,0,0,0,0,0);
HorizontLineLowTD(L1,L2,Step,Style,Col[Step*2-1]);
}
else ObjectDelete("HLL_"+Step);
if (TakeProf==1)
{
ObjectCreate("LC1_"+Step,OBJ_TREND,0,0,0,0,0);
ObjectCreate("LC2_"+Step,OBJ_TREND,0,0,0,0,0);
ObjectCreate("LC3_"+Step,OBJ_TREND,0,0,0,0,0);
Comm=Comm+TakeProfitLowTD(L1,L2,Step,Col[Step*2-1]);
}
else
{
ObjectDelete("LC1_"+Step);
ObjectDelete("LC2_"+Step);
ObjectDelete("LC3_"+Step);
}
}
return(Comm);
}
//--------------------------------------------------------------------
int start()
{
string Comm="";
SetTDPoint(Bars-1);
if (TD==1)
{
SetIndexArrow(0,217);
SetIndexArrow(1,218);
}
else
{
SetIndexArrow(0,160);
SetIndexArrow(1,160);
}
if (ShowingSteps>10)
{
Comment("ShowingSteps value 0 - 10");
return(0);
}
for (int i=1;i<=ShowingSteps;i++)Comm=Comm+TDMain(i);
Comm=Comm+"------------------------------------\nShowingSteps="+ShowingSteps+"\nBackSteps="+BackSteps;
if (FractalAsTD==true)Comm=Comm+"\nFractals";
else Comm=Comm+"\nTD point";
if (Commen==1)Comment(Comm);
else Comment("");
return(0);
}
//+------------------------------------------------------------------+
Comments