MMLevls_VG(1)

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Author: Vladislav Goshkov (VG).
MMLevls_VG(1)

This script functions as a visual mapping tool that automatically calculates and plots a series of horizontal "price levels" on your trading chart. Instead of relying on standard technical indicators, it uses a mathematical approach to identify the natural boundaries of price movement, creating a structure of support and resistance levels based on the current market range.

Core Logic Overview

The script analyzes a specific lookback period (determined by your settings) to find the highest high and the lowest low achieved in that timeframe. It then takes this "trading range" and breaks it down into a mathematical grid. By using logarithmic calculations, the script identifies a dominant "octave"—essentially finding the most natural scale at which the current price is fluctuating.

Once this scale is established, it divides the market into 8 primary segments (and several extra overshoot zones). This creates 13 distinct horizontal lines that behave as follows:

The Significance of the Levels

The script categorizes these levels to help you interpret market behavior:

  • Major Support and Resistance ([4/8]): This is identified as the "Pivotal Point." It represents the strongest level of balance. When the price is above this line, it acts as a primary floor; when below, it acts as a primary ceiling. It is considered a high-quality zone for initiating new trades.
  • Trading Range Boundaries ([3/8] and [5/8]): These lines define the "active" zone where the market spends a significant amount of its time (roughly 40%). If the price lingers near these levels for an extended period, it signals a potential shift in trend or a premium/discount zone.
  • Pivot and Reversal Points ([2/8] and [6/8]): These lines are designed to highlight areas where the market has the capacity to fully reverse its direction. They act as major "hinges" in price action.
  • Stall and Weak Zones ([1/8] and [7/8]): These are identified as less stable regions. If the price moves too quickly and hits these lines, it is likely to "stall" or briefly reverse. If the price ignores them and continues moving quickly, it indicates strong momentum toward the next major level.
  • Oversold and Overbought Zones ([0/8] and [8/8]): These are the extreme limits of the current range. Reaching these levels suggests that the market is "extremely" stretched in one direction, often signaling an impending correction or a significant exhaustion point.
  • Overshoot Zones ([-1/8], [-2/8], [+1/8], [+2/8]): These represent prices that have broken completely out of the current mathematical range. They help visualize how far the price has deviated from its "normal" boundaries.

User Experience

The script automates the drawing process by automatically updating these lines in real-time as new high or low prices are formed. Each line is assigned a specific color and width based on its importance, allowing you to visually distinguish between "major" structural changes and "minor" price fluctuations at a glance.

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MMLevls_VG(1) 
//+------------------------------------------------------------------+
//|                                                   MMLevls_VG.mq4 |
//|                       Copyright © 2006, Vladislav Goshkov (VG).  |
//|                                           4vg@mail.ru            |
//|                                       Many thanks to Tim Kruzel  |
//+------------------------------------------------------------------+
#property copyright "Vladislav Goshkov (VG)."
#property link      "4vg@mail.ru"

#property indicator_chart_window

// ============================================================================================
// * Ëèíèè 8/8 è 0/8 (Îêîí÷àòåëüíîå ñîïðîòèâëåíèå).
// * Ýòè ëèíèè ñàìûå ñèëüíûå è îêàçûâàþò ñèëüíåéøèå ñîïðîòèâëåíèÿ è ïîääåðæêó.
// ============================================================================================
//* Ëèíèÿ 7/8  (Ñëàáàÿ, ìåñòî äëÿ îñòàíîâêè è ðàçâîðîòà). Weak, Stall and Reverse
//* Ýòà ëèíèÿ ñëàáà. Åñëè öåíà çàøëà ñëèøêîì äàëåêî è ñëèøêîì áûñòðî è åñëè îíà îñòàíîâèëàñü îêîëî ýòîé ëèíèè, 
//* çíà÷èò îíà ðàçâåðíåòñÿ áûñòðî âíèç. Åñëè öåíà íå îñòàíîâèëàñü îêîëî ýòîé ëèíèè, îíà ïðîäîëæèò äâèæåíèå ââåðõ ê 8/8.
// ============================================================================================
//* Ëèíèÿ 1/8  (Ñëàáàÿ, ìåñòî äëÿ îñòàíîâêè è ðàçâîðîòà). Weak, Stall and Reverse
//* Ýòà ëèíèÿ ñëàáà. Åñëè öåíà çàøëà ñëèøêîì äàëåêî è ñëèøêîì áûñòðî è åñëè îíà îñòàíîâèëàñü îêîëî ýòîé ëèíèè, 
//* çíà÷èò îíà ðàçâåðíåòñÿ áûñòðî ââåðõ. Åñëè öåíà íå îñòàíîâèëàñü îêîëî ýòîé ëèíèè, îíà ïðîäîëæèò äâèæåíèå âíèç ê 0/8.
// ============================================================================================
//* Ëèíèè 6/8 è 2/8 (Âðàùåíèå, ðàçâîðîò). Pivot, Reverse
//* Ýòè äâå ëèíèè óñòóïàþò â ñâîåé ñèëå òîëüêî 4/8 â ñâîåé ñïîñîáíîñòè ïîëíîñòüþ ðàçâåðíóòü öåíîâîå äâèæåíèå.
// ============================================================================================
//* Ëèíèÿ 5/8 (Âåðõ òîðãîâîãî äèàïàçîíà). Top of Trading Range
//* Öåíû âñåõ ðûíêîâ òðàòÿò 40% âðåìåíè, íà äâèæåíèå ìåæäó 5/8 è 3/8 ëèíèÿìè. 
//* Åñëè öåíà äâèãàåòñÿ îêîëî ëèíèè 5/8 è îñòàåòñÿ îêîëî íåå â òå÷åíèè 10-12 äíåé, ðûíîê ñêàçàë ÷òî ñëåäóåò 
//* ïðîäàâàòü â ýòîé «ïðåìèàëüíîé çîíå», ÷òî è äåëàþò íåêîòîðûå ëþäè, íî åñëè öåíà ñîõðàíÿåò òåíäåíöèþ îñòàâàòüñÿ 
//* âûøå 5/8, òî îíà è îñòàíåòñÿ âûøå íåå. Åñëè, îäíàêî, öåíà ïàäàåò íèæå 5/8, òî îíà ñêîðåå âñåãî ïðîäîëæèò 
//* ïàäàòü äàëåå äî ñëåäóþùåãî óðîâíÿ ñîïðîòèâëåíèÿ.
// ============================================================================================
//* Ëèíèÿ 3/8 (Äíî òîðãîâîãî äèàïàçîíà). Bottom of Trading Range
//* Åñëè öåíû íèæå ýòîé ëèíè è äâèãàþòñÿ ââåðõ, òî öåíå áóäåò ñëîæíî ïðîáèòü ýòîò óðîâåíü. 
//* Åñëè ïðîáèâàþò ââåðõ ýòó ëèíèþ è îñòàþòñÿ âûøå íåå â òå÷åíèè 10-12 äíåé, çíà÷èò öåíû îñòàíóòñÿ âûøå ýòîé ëèíèè 
//* è ïîòðàòÿò 40% âðåìåíè äâèãàÿñü ìåæäó ýòîé ëèíèåé è 5/8 ëèíèåé.
// ============================================================================================
//* Ëèíèÿ 4/8 (Ãëàâíàÿ ëèíèÿ ñîïðîòèâëåíèÿ/ïîääåðæêè). Major Support/Resistance
//* Ýòà ëèíèÿ îáåñïå÷èâàåò íàèáîëüøåå ñîïðîòèâëåíèå/ïîääåðæêó. Ýòîò óðîâåíü ÿâëÿåòñÿ ëó÷øèì äëÿ íîâîé ïîêóïêè èëè ïðîäàæè. 
//* Åñëè öåíà íàõîäèòñÿ âûøå 4/8, òî ýòî ñèëüíûé óðîâåíü ïîääåðæêè. Åñëè öåíà íàõîäèòñÿ íèæå 4/8, òî ýòî ïðåêðàñíûé óðîâåíü 
//* ñîïðîòèâëåíèÿ.
// ============================================================================================
extern int P = 90;
extern int MMPeriod = 1440;
extern int StepBack = 0;

extern color  mml_clr_m_2_8 = White;       // [-2]/8
extern color  mml_clr_m_1_8 = White;       // [-1]/8
extern color  mml_clr_0_8   = Aqua;        //  [0]/8
extern color  mml_clr_1_8   = Yellow;      //  [1]/8
extern color  mml_clr_2_8   = Red;         //  [2]/8
extern color  mml_clr_3_8   = Green;       //  [3]/8
extern color  mml_clr_4_8   = Blue;        //  [4]/8
extern color  mml_clr_5_8   = Green;       //  [5]/8
extern color  mml_clr_6_8   = Red;         //  [6]/8
extern color  mml_clr_7_8   = Yellow;      //  [7]/8
extern color  mml_clr_8_8   = Aqua;        //  [8]/8
extern color  mml_clr_p_1_8 = White;       // [+1]/8
extern color  mml_clr_p_2_8 = White;       // [+2]/8

extern int    mml_wdth_m_2_8 = 2;        // [-2]/8
extern int    mml_wdth_m_1_8 = 1;        // [-1]/8
extern int    mml_wdth_0_8   = 2;        //  [0]/8
extern int    mml_wdth_1_8   = 1;        //  [1]/8
extern int    mml_wdth_2_8   = 1;        //  [2]/8
extern int    mml_wdth_3_8   = 1;        //  [3]/8
extern int    mml_wdth_4_8   = 2;        //  [4]/8
extern int    mml_wdth_5_8   = 1;        //  [5]/8
extern int    mml_wdth_6_8   = 1;        //  [6]/8
extern int    mml_wdth_7_8   = 1;        //  [7]/8
extern int    mml_wdth_8_8   = 2;        //  [8]/8
extern int    mml_wdth_p_1_8 = 1;        // [+1]/8
extern int    mml_wdth_p_2_8 = 2;        // [+2]/8

extern color  MarkColor   = Blue;
extern int    MarkNumber  = 217;


double  dmml = 0,
        dvtl = 0,
        sum  = 0,
        v1 = 0,
        v2 = 0,
        mn = 0,
        mx = 0,
        x1 = 0,
        x2 = 0,
        x3 = 0,
        x4 = 0,
        x5 = 0,
        x6 = 0,
        y1 = 0,
        y2 = 0,
        y3 = 0,
        y4 = 0,
        y5 = 0,
        y6 = 0,
        octave = 0,
        fractal = 0,
        range   = 0,
        finalH  = 0,
        finalL  = 0,
        mml[13];

string  ln_txt[13],        
        buff_str = "";
        
int     
        bn_v1   = 0,
        bn_v2   = 0,
        OctLinesCnt = 13,
        mml_thk = 8,
        mml_clr[13],
        mml_wdth[13],
        mml_shft = 35,
        nTime = 0,
        CurPeriod = 0,
        nDigits = 0,
        i = 0;
int NewPeriod=0;
//+------------------------------------------------------------------+
//| Custom indicator initialization function                         |
//+------------------------------------------------------------------+
int init() {
//---- indicators
   if(MMPeriod>0)
      NewPeriod   = P*MathCeil(MMPeriod/Period());
   else NewPeriod = P;
   
   ln_txt[0]  = "[-2/8]P";// "extremely overshoot [-2/8]";// [-2/8]
   ln_txt[1]  = "[-1/8]P";// "overshoot [-1/8]";// [-1/8]
   ln_txt[2]  = "[0/8]P";// "Ultimate Support - extremely oversold [0/8]";// [0/8]
   ln_txt[3]  = "[1/8]P";// "Weak, Stall and Reverse - [1/8]";// [1/8]
   ln_txt[4]  = "[2/8]P";// "Pivot, Reverse - major [2/8]";// [2/8]
   ln_txt[5]  = "[3/8]P";// "Bottom of Trading Range - [3/8], if 10-12 bars then 40% Time. BUY Premium Zone";//[3/8]
   ln_txt[6]  = "[4/8]P";// "Major Support/Resistance Pivotal Point [4/8]- Best New BUY or SELL level";// [4/8]
   ln_txt[7]  = "[5/8]P";// "Top of Trading Range - [5/8], if 10-12 bars then 40% Time. SELL Premium Zone";//[5/8]
   ln_txt[8]  = "[6/8]P";// "Pivot, Reverse - major [6/8]";// [6/8]
   ln_txt[9]  = "[7/8]P";// "Weak, Stall and Reverse - [7/8]";// [7/8]
   ln_txt[10] = "[8/8]P";// "Ultimate Resistance - extremely overbought [8/8]";// [8/8]
   ln_txt[11] = "[+1/8]P";// "overshoot [+1/8]";// [+1/8]
   ln_txt[12] = "[+2/8]P";// "extremely overshoot [+2/8]";// [+2/8]

   //mml_shft = 3;
   mml_thk  = 3;

   // Íà÷àëüíàÿ óñòàíîâêà öâåòîâ óðîâíåé îêòàâ è òîëùèíû ëèíèé
   mml_clr[0]  = mml_clr_m_2_8;   mml_wdth[0] = mml_wdth_m_2_8; // [-2]/8
   mml_clr[1]  = mml_clr_m_1_8;   mml_wdth[1] = mml_wdth_m_1_8; // [-1]/8
   mml_clr[2]  = mml_clr_0_8;     mml_wdth[2] = mml_wdth_0_8;   //  [0]/8
   mml_clr[3]  = mml_clr_1_8;     mml_wdth[3] = mml_wdth_1_8;   //  [1]/8
   mml_clr[4]  = mml_clr_2_8;     mml_wdth[4] = mml_wdth_2_8;   //  [2]/8
   mml_clr[5]  = mml_clr_3_8;     mml_wdth[5] = mml_wdth_3_8;   //  [3]/8
   mml_clr[6]  = mml_clr_4_8;     mml_wdth[6] = mml_wdth_4_8;   //  [4]/8
   mml_clr[7]  = mml_clr_5_8;     mml_wdth[7] = mml_wdth_5_8;   //  [5]/8
   mml_clr[8]  = mml_clr_6_8;     mml_wdth[8] = mml_wdth_6_8;   //  [6]/8
   mml_clr[9]  = mml_clr_7_8;     mml_wdth[9] = mml_wdth_7_8;   //  [7]/8
   mml_clr[10] = mml_clr_8_8;     mml_wdth[10]= mml_wdth_8_8;   //  [8]/8
   mml_clr[11] = mml_clr_p_1_8;   mml_wdth[11]= mml_wdth_p_1_8; // [+1]/8
   mml_clr[12] = mml_clr_p_2_8;   mml_wdth[12]= mml_wdth_p_2_8; // [+2]/8
   
   
//----
   return(0);
  }

//+------------------------------------------------------------------+
//| Custor indicator deinitialization function                       |
//+------------------------------------------------------------------+
int deinit() {
//---- TODO: add your code here
Comment(" ");   
for(i=0;i<OctLinesCnt;i++) {
    buff_str = "mml"+i;
    ObjectDelete(buff_str);
    buff_str = "mml_txt"+i;
    ObjectDelete(buff_str);
    }
//----
   return(0);
  }
//+------------------------------------------------------------------+
//| Custom indicator iteration function                              |
//+------------------------------------------------------------------+
int start() {

//---- TODO: add your code here

if( (nTime != Time[0]) || (CurPeriod != Period()) ) {
   
  //price
   Print("MMLevls : NewPeriod = ",NewPeriod);

   bn_v1 = Lowest(NULL,0,MODE_LOW,NewPeriod,StepBack);
   bn_v2 = Highest(NULL,0,MODE_HIGH,NewPeriod,StepBack);

   v1 = Low[bn_v1];
   v2 = High[bn_v2];

//determine fractal.....
   if( v2<=250000 && v2>25000 )
   fractal=100000;
   else
     if( v2<=25000 && v2>2500 )
     fractal=10000;
     else
       if( v2<=2500 && v2>250 )
       fractal=1000;
       else
         if( v2<=250 && v2>25 )
         fractal=100;
         else
           if( v2<=25 && v2>12.5 )
           fractal=12.5;
           else
             if( v2<=12.5 && v2>6.25)
             fractal=12.5;
             else
               if( v2<=6.25 && v2>3.125 )
               fractal=6.25;
               else
                 if( v2<=3.125 && v2>1.5625 )
                 fractal=3.125;
                 else
                   if( v2<=1.5625 && v2>0.390625 )
                   fractal=1.5625;
                   else
                     if( v2<=0.390625 && v2>0)
                     fractal=0.1953125;
      
   range=(v2-v1);
   sum=MathFloor(MathLog(fractal/range)/MathLog(2));
   octave=fractal*(MathPow(0.5,sum));
   mn=MathFloor(v1/octave)*octave;
   if( (mn+octave)>v2 )
   mx=mn+octave; 
   else
     mx=mn+(2*octave);


// calculating xx
//x2
    if( (v1>=(3*(mx-mn)/16+mn)) && (v2<=(9*(mx-mn)/16+mn)) )
    x2=mn+(mx-mn)/2; 
    else x2=0;
//x1
    if( (v1>=(mn-(mx-mn)/8))&& (v2<=(5*(mx-mn)/8+mn)) && (x2==0) )
    x1=mn+(mx-mn)/2; 
    else x1=0;

//x4
    if( (v1>=(mn+7*(mx-mn)/16))&& (v2<=(13*(mx-mn)/16+mn)) )
    x4=mn+3*(mx-mn)/4; 
    else x4=0;

//x5
    if( (v1>=(mn+3*(mx-mn)/8))&& (v2<=(9*(mx-mn)/8+mn))&& (x4==0) )
    x5=mx; 
    else  x5=0;

//x3
    if( (v1>=(mn+(mx-mn)/8))&& (v2<=(7*(mx-mn)/8+mn))&& (x1==0) && (x2==0) && (x4==0) && (x5==0) )
    x3=mn+3*(mx-mn)/4; 
    else x3=0;

//x6
    if( (x1+x2+x3+x4+x5) ==0 )
    x6=mx; 
    else x6=0;

     finalH = x1+x2+x3+x4+x5+x6;
// calculating yy
//y1
    if( x1>0 )
    y1=mn; 
    else y1=0;

//y2
    if( x2>0 )
    y2=mn+(mx-mn)/4; 
    else y2=0;

//y3
    if( x3>0 )
    y3=mn+(mx-mn)/4; 
    else y3=0;

//y4
    if( x4>0 )
    y4=mn+(mx-mn)/2; 
    else y4=0;

//y5
    if( x5>0 )
    y5=mn+(mx-mn)/2; 
    else y5=0;

//y6
    if( (finalH>0) && ((y1+y2+y3+y4+y5)==0) )
    y6=mn; 
    else y6=0;

    finalL = y1+y2+y3+y4+y5+y6;

    for( i=0; i<OctLinesCnt; i++) {
         mml[i] = 0;
         }
         
   dmml = (finalH-finalL)/8;
   Print("MMLevls : NewPeriod = ",NewPeriod," dmml = ",dmml," finalL = ",finalL);
   mml[0] =(finalL-dmml*2); //-2/8
   for( i=1; i<OctLinesCnt; i++) {
        mml[i] = mml[i-1] + dmml;
        }
   for( i=0; i<OctLinesCnt; i++ ){
        buff_str = "mml"+i;
        if(ObjectFind(buff_str) == -1) {
           ObjectCreate(buff_str, OBJ_HLINE, 0, Time[0], mml[i]);
           ObjectSet(buff_str, OBJPROP_STYLE, STYLE_SOLID);
           ObjectSet(buff_str, OBJPROP_COLOR, mml_clr[i]);
           ObjectSet(buff_str, OBJPROP_WIDTH, mml_wdth[i]);
           ObjectMove(buff_str, 0, Time[0],  mml[i]);
           }
        else {
           ObjectMove(buff_str, 0, Time[0],  mml[i]);
           }
             
        buff_str = "mml_txt"+i;
        if(ObjectFind(buff_str) == -1) {
           ObjectCreate(buff_str, OBJ_TEXT, 0, Time[mml_shft], mml_shft);
           ObjectSetText(buff_str, ln_txt[i], 8, "Arial", mml_clr[i]);
           ObjectMove(buff_str, 0, Time[mml_shft],  mml[i]);
           }
        else {
           ObjectMove(buff_str, 0, Time[mml_shft],  mml[i]);
           }
        } // for( i=1; i<=OctLinesCnt; i++ ){

   nTime    = Time[0];
   CurPeriod= Period();
   
   string buff_str = "LR_LatestCulcBar";
   if(ObjectFind(buff_str) == -1) {
      ObjectCreate(buff_str, OBJ_ARROW,0, Time[StepBack], Low[StepBack]-2*Point );
      ObjectSet(buff_str, OBJPROP_ARROWCODE, MarkNumber);
      ObjectSet(buff_str, OBJPROP_COLOR, MarkColor);
      }
   else {
      ObjectMove(buff_str, 0, Time[StepBack], Low[StepBack]-2*Point );
      }

   }
 
//---- End Of Program
  return(0);
  }
//+------------------------------------------------------------------+

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