Murrey Math Lines F_v1
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This indicator is designed to provide a visual framework for identifying key support and resistance levels on a financial chart. It uses a mathematical approach to divide the price action into an "octave" structure—essentially breaking down the trading range into eight distinct zones of influence.
Core Mathematical Logic
The script begins by analyzing a specific look-back period of price history to determine the highest high and lowest low. From these two points, it calculates the current "Trading Range."
To ensure the tool remains relevant regardless of whether an asset is trading at very high or very low values, the script uses a fractal logic. This allows it to automatically scale its calculations based on the magnitude of the price, ensuring that the resulting lines are proportional and meaningful across different markets (such as Forex, Stocks, or Commodities).
The Eight-Level System
The primary goal of the script is to plot 13 specific horizontal levels (represented by arrows and labels) that categorize the market's behavior. These levels are interpreted as follows:
- Major Support and Resistance: The most significant line in this system represents a primary pivot point. When the price sits above this level, it acts as a strong support; when below, it acts as heavy resistance. This is considered the "best" area for entering new trades.
- Trading Range Boundaries: The system identifies the "Top" and "Bottom" of the current trading range. These lines highlight zones where price action often spends a significant amount of time (roughly 40% of the duration) if it remains stable. If the price breaks decisively out of these zones, it often signals a trend shift.
- Pivot and Reversal Points: Several intermediate lines are designated as "reversal" levels. These identify specific "pressure points" where the price might stall, lose momentum, and turn around quickly.
- Oversold and Overbought Extremes: The highest and lowest lines of the calculation identify "extreme" zones. These mark areas where the market is considered overextended—either significantly stretched to the upside (overbought) or to the downside (oversold).
Visual Execution
On your chart, the script automatically places arrows at these calculated price levels and applies specific colors to differentiate between them:
- Support/Resistance levels are highlighted in distinct colors (like Blue and Green).
- Weak zones and Reversal points use different colors (like Yellow and Red) to warn of potential volatility.
- Extreme zones are marked with unique identifiers to show where the market is reaching its limits.
In summary, this tool takes complex price data and simplifies it into a "map" of 13 levels, helping traders identify where the price is likely to stall, reverse, or find strong support/resistance based on the mathematical geometry of recent price movement.
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Murrey Math Lines F_v1
/*-----------------------------+
| |
| Shared by www.Aptrafx.com |
| |
+------------------------------*/
//+------------------------------------------------------------------+
//| Murrey_Math_MT_VG.mq4 |
//| Copyright © 2004, Vladislav Goshkov (VG). |
//| 4vg@mail.ru |
//+------------------------------------------------------------------+
#property copyright "Vladislav Goshkov (VG)."
#property link "4vg@mail.ru"
#property indicator_chart_window
#property indicator_buffers 13
#property indicator_color1 LightBlue
#property indicator_color2 Blue
#property indicator_color3 DarkGreen
#property indicator_color4 Red
#property indicator_color5 Magenta
#property indicator_color6 LightBlue
#property indicator_color7 Blue
#property indicator_color8 DarkGreen
double buffer[];
// ============================================================================================
// * 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 = 64;
extern int MMPeriod = 0;
extern int NumBars = 500;
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 = 1; // [-2]/8
extern int mml_wdth_m_1_8 = 1; // [-1]/8
extern int mml_wdth_0_8 = 1; // [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 = 1; // [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 = 1; // [8]/8
extern int mml_wdth_p_1_8 = 1; // [+1]/8
extern int mml_wdth_p_2_8 = 1; // [+2]/8
extern color MarkColor = Blue;
extern int MarkNumber = 158;
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],
aa;
string ln_txt[13],
buff_str = "",
buff_str2 = "";
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() {
for(int i=0;i<WindowsTotal();i++){
ObjectsDeleteAll(i);
}
SetIndexStyle(0,DRAW_ARROW);
SetIndexArrow(0,160);
SetIndexBuffer(0,buffer);
SetIndexEmptyValue(0,0.0);
SetIndexLabel(0,"0");
//---- indicators
if(MMPeriod>0 )
{
NewPeriod = P*MathCeil(MMPeriod/Period());
Comment("MMPeriod= ",MMPeriod);
}
else
{
NewPeriod = P;
Comment("MMPeriod= ",Period());
}
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(int i=0;i<WindowsTotal();i++){
ObjectsDeleteAll(i);
}
//----
return(0);
}
//+------------------------------------------------------------------+
//| Custom indicator iteration function |
//+------------------------------------------------------------------+
int start() {
//---- TODO: add your code here
double ExtCountedBars=IndicatorCounted();
int pos=NumBars-ExtCountedBars-1;
while(pos>=0)
{
if( (nTime != Time[pos]) || (CurPeriod != Period()) ) {
//price
bn_v1 = Lowest(NULL,0,MODE_LOW,NewPeriod+pos,pos);
bn_v2 = Highest(NULL,0,MODE_HIGH,NewPeriod+pos,pos);
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;
mml[0] =(finalL-dmml*2); //-2/8
for( i=1; i<OctLinesCnt; i++) {
mml[i] = mml[i-1] + dmml;
}
// if( ObjectFind(buff_str2)
if( 1==1 )
{
for( i=0; i<1; i++ ){
buff_str2 = "k";
ObjectCreate(buff_str2, OBJ_VLINE , 0,Time[pos], mml[i]);
ObjectSet(buff_str2, OBJPROP_STYLE, STYLE_SOLID);
ObjectSet(buff_str2, OBJPROP_COLOR, mml_clr[i]);
ObjectSet(buff_str2, OBJPROP_WIDTH, mml_wdth[i]);
}
}
for( i=0; i<OctLinesCnt; i++ ){
buff_str = "mml"+i+Time[pos];
ObjectCreate(buff_str, OBJ_ARROW ,0,Time[pos],mml[i]+3*Point);
ObjectSet(buff_str, OBJPROP_ARROWCODE, MarkNumber);
ObjectSet(buff_str, OBJPROP_COLOR, mml_clr[i]);
ObjectSet(buff_str, OBJPROP_WIDTH, mml_wdth[i]);
buff_str = "mml_txt"+i;
if(ObjectFind(buff_str) == -1) {
ObjectCreate(buff_str, OBJ_TEXT, 0, Time[0], mml_shft);
ObjectSetText(buff_str, ln_txt[i], 8, "Arial", mml_clr[i]);
ObjectMove(buff_str, 0, Time[0], mml[i]);
}
else {
ObjectMove(buff_str, 0, Time[0], mml[i]);
}
} // for( i=1; i<=OctLinesCnt; i++ ){
nTime = Time[pos];
CurPeriod= Period();
pos--;
}
}
//---- End Of Program
return(0);
}
//+------------------------------------------------------------------+
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