Pivot_Lines_daily_ex_Sundays

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Author: Copyright � 2004, MetaQuotes Software Corp.
Pivot_Lines_daily_ex_Sundays

This script is an automated technical analysis tool designed to identify and display key price levels—known as "Pivots"—on your trading charts. It simplifies the process of finding significant support and resistance zones by calculating these values based on historical price action.

Core Functionality

The primary purpose of this script is to take historical data from previous trading sessions and use it to project mathematical boundaries for the current session. These lines help traders visualize where the market might experience a reaction, stall, or reverse.

How the Logic Works

1. Data Collection & Filtering The script automatically pulls price data (High, Low, Open, and Close) from the previous day's trading session. It includes a specific feature to handle "Sunday" markets, ensuring that the calculations remain consistent even when there is a gap in trading days. It also verifies that you are viewing the chart on a timeframe smaller than one day (e.g., 1-hour or 15-minute charts) to ensure the labels remain accurate.

2. Calculation Engines The script employs three distinct mathematical models to generate these levels:

  • Standard Pivots: This is the traditional method. It calculates a central "Pivot" point by averaging yesterday's high, low, and close. From that center, it projects multiple "Resistance" (R1, R2, R3) and "Support" (S1, S2, S3) levels.
  • Camarilla Levels: These are specific calculations often used by day traders to identify breakout points. The script generates H3, H4, L3, and L4 lines based on a percentage of the previous day's price range.
  • Midpoint Pivots: To provide even deeper granularity, this logic calculates the "middle" zones between the standard pivot levels (labeled M0 through M5). These help identify smaller sub-zones within larger trends.

3. Visual Presentation Once the math is complete, the script handles all the "heavy lifting" of the visual interface:

  • Dynamic Drawing: It automatically draws horizontal lines and text labels on your chart so you don't have to manually place them.
  • Color Coding: It assigns specific colors to different types of levels (e.g., Green for Resistance, Red for Support, Blue for Midpoints, and Yellow for Camarilla) to help you distinguish between different strategies at a glance.
  • Auto-Updating: The script is designed to move these lines in real-time as new price data arrives, ensuring the visual information remains current with the market's movement.

Summary of User Benefits

Instead of manually calculating complex formulas every morning, this script provides a comprehensive "map" of the market. By showing you exactly where the mathematical boundaries sit for both standard and advanced pivot theories, it allows you to see potential "ceilings" (Resistance) and "floors" (Support) instantly on your screen.

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Pivot_Lines_daily_ex_Sundays 
//+------------------------------------------------------------------+
//|                                                        Pivot.mq4 |
//|                      Copyright © 2004, MetaQuotes Software Corp. |
//|                                        http://www.metaquotes.net |
//|                                                                  |
//|                         Remix by Jan Klimo (jan.klimo@gmail.com) |
//+------------------------------------------------------------------+


#property copyright "Copyright © 2004, MetaQuotes Software Corp."
#property link      "http://www.metaquotes.net"

#property indicator_chart_window

extern bool IgnoreSunday = true;
extern bool pivots = true;
extern bool camarilla = false;
extern bool midpivots = true;

double day_high=0;
double day_low=0;
double yesterday_high=0;
double yesterday_open=0;
double yesterday_low=0;
double yesterday_close=0;
double today_open=0;
double today_high=0;
double today_low=0;
double P=0;
double Q=0;
double R1,R2,R3;
double M0,M1,M2,M3,M4,M5;
double S1,S2,S3;
double H4,H3,L4,L3;
double nQ=0;
double nD=0;
double D=0;
double rates_d1[2][6];

//+------------------------------------------------------------------+
//| Custom indicator initialization function                         |
//+------------------------------------------------------------------+
int init()
  {
//---- indicators
 R1=0; R2=0; R3=0;
 M0=0; M1=0; M2=0; M3=0; M4=0; M5=0;
 S1=0; S2=0; S3=0;
 H4=0; H3=0; L4=0; L3=0;

//----
   return(0);
  }
//+------------------------------------------------------------------+
//| Custor indicator deinitialization function                       |
//+------------------------------------------------------------------+
int deinit()
  {
//---- TODO: add your code here
ObjectDelete("R1 Label"); 
ObjectDelete("R1 Line");
ObjectDelete("R2 Label");
ObjectDelete("R2 Line");
ObjectDelete("R3 Label");
ObjectDelete("R3 Line");
ObjectDelete("S1 Label");
ObjectDelete("S1 Line");
ObjectDelete("S2 Label");
ObjectDelete("S2 Line");
ObjectDelete("S3 Label");
ObjectDelete("S3 Line");
ObjectDelete("P Label");
ObjectDelete("P Line");
ObjectDelete("H4 Label");
ObjectDelete("H4 Line");
ObjectDelete("H3 Label");
ObjectDelete("H3 Line");
ObjectDelete("L3 Label");
ObjectDelete("L3 Line");
ObjectDelete("L4 Label");
ObjectDelete("L4 Line");
ObjectDelete("M5 Label");
ObjectDelete("M5 Line");
ObjectDelete("M4 Label");
ObjectDelete("M4 Line");
ObjectDelete("M3 Label");
ObjectDelete("M3 Line");
ObjectDelete("M2 Label");
ObjectDelete("M2 Line");
ObjectDelete("M1 Label");
ObjectDelete("M1 Line");
ObjectDelete("M0 Label");
ObjectDelete("M0 Line");

Comment("");
//----
   return(0);
  }
//+------------------------------------------------------------------+
//| Custom indicator iteration function                              |
//+------------------------------------------------------------------+
int start()
  {

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

//---- exit if period is greater than daily charts
if(Period() > 1440)
{
Print("Error - Chart period is greater than 1 day.");
return(-1); // then exit
}

//---- Get new daily prices

ArrayCopyRates(rates_d1, Symbol(), PERIOD_D1);

if (IgnoreSunday)
{
  if(DayOfWeek()==1)
  {
    yesterday_close = rates_d1[2][4];
    yesterday_open = rates_d1[2][1];
    today_open = rates_d1[0][1];
    yesterday_high = rates_d1[2][3];
    yesterday_low = rates_d1[2][2];
    day_high = rates_d1[0][3];
    day_low = rates_d1[0][2];
  }
  
  else
  {
    yesterday_close = rates_d1[1][4];
    yesterday_open = rates_d1[1][1];
    today_open = rates_d1[0][1];
    yesterday_high = rates_d1[1][3];
    yesterday_low = rates_d1[1][2];
    day_high = rates_d1[0][3];
    day_low = rates_d1[0][2];
  }
}

else
{
  yesterday_close = rates_d1[1][4];
  yesterday_open = rates_d1[1][1];
  today_open = rates_d1[0][1];
  yesterday_high = rates_d1[1][3];
  yesterday_low = rates_d1[1][2];
  day_high = rates_d1[0][3];
  day_low = rates_d1[0][2];
} 


//---- Calculate Pivots

D = (day_high - day_low);
Q = (yesterday_high - yesterday_low);
P = (yesterday_high + yesterday_low + yesterday_close) / 3;
R1 = (2*P)-yesterday_low;
S1 = (2*P)-yesterday_high;
R2 = P+(yesterday_high - yesterday_low);
S2 = P-(yesterday_high - yesterday_low);

	H4 = (Q*0.55)+yesterday_close;
	H3 = (Q*0.27)+yesterday_close;
	R3 = (2*P)+(yesterday_high-(2*yesterday_low));
	M5 = (R2+R3)/2;
//	R2 = P-S1+R1;
	M4 = (R1+R2)/2;
//	R1 = (2*P)-yesterday_low;
	M3 = (P+R1)/2;
//	P = (yesterday_high + yesterday_low + yesterday_close)/3;
	M2 = (P+S1)/2;
//	S1 = (2*P)-yesterday_high;
	M1 = (S1+S2)/2;
//	S2 = P-R1+S1;
	S3 = (2*P)-((2* yesterday_high)-yesterday_low);
	L3 = yesterday_close-(Q*0.27);	
	L4 = yesterday_close-(Q*0.55);	
	M0 = (S2+S3)/2;

if (Q > 5) 
{
	nQ = Q;
}
else
{
	nQ = Q*100;
}

if (D > 5)
{
	nD = D;
}
else
{
	nD = D*100;
}


Comment("High= ",yesterday_high,"    Previous Days Range= ",nQ,"\nLow= ",yesterday_low,"    Current Days Range= ",nD,"\nClose= ",yesterday_close);

//---- Set line labels on chart window

//---- Pivot Lines
   if (pivots==true)
   {
      if(ObjectFind("R1 label") != 0)
      {
      ObjectCreate("R1 label", OBJ_TEXT, 0, Time[20], R1);
      ObjectSetText("R1 label", " R1", 8, "Arial", White);
      }
      else
      {
      ObjectMove("R1 label", 0, Time[20], R1);
      }

      if(ObjectFind("R2 label") != 0)
      {
      ObjectCreate("R2 label", OBJ_TEXT, 0, Time[20], R2);
      ObjectSetText("R2 label", " R2", 8, "Arial", White);
      }
      else
      {
      ObjectMove("R2 label", 0, Time[20], R2);
      }

      if(ObjectFind("R3 label") != 0)
      {
      ObjectCreate("R3 label", OBJ_TEXT, 0, Time[20], R3);
      ObjectSetText("R3 label", " R3", 8, "Arial", White);
      }
      else
      {
      ObjectMove("R3 label", 0, Time[20], R3);
      }

      if(ObjectFind("P label") != 0)
      {
      ObjectCreate("P label", OBJ_TEXT, 0, Time[20], P);
      ObjectSetText("P label", "Pivot", 8, "Arial", White);
      }
      else
      {
      ObjectMove("P label", 0, Time[20], P);
      }

      if(ObjectFind("S1 label") != 0)
      {
      ObjectCreate("S1 label", OBJ_TEXT, 0, Time[20], S1);
      ObjectSetText("S1 label", "S1", 8, "Arial", White);
      }
      else
      {
      ObjectMove("S1 label", 0, Time[20], S1);
      }

      if(ObjectFind("S2 label") != 0)
      {
      ObjectCreate("S2 label", OBJ_TEXT, 0, Time[20], S2);
      ObjectSetText("S2 label", "S2", 8, "Arial", White);
      }
      else
      {
      ObjectMove("S2 label", 0, Time[20], S2);
      }

      if(ObjectFind("S3 label") != 0)
      {
      ObjectCreate("S3 label", OBJ_TEXT, 0, Time[20], S3);
      ObjectSetText("S3 label", "S3", 8, "Arial", White);
      }
      else
      {
      ObjectMove("S3 label", 0, Time[20], S3);
      }

//---  Draw  Pivot lines on chart
      if(ObjectFind("S1 line") != 0)
      {
      ObjectCreate("S1 line", OBJ_HLINE, 0, Time[40], S1);
      ObjectSet("S1 line", OBJPROP_STYLE, STYLE_DASHDOTDOT);
      ObjectSet("S1 line", OBJPROP_COLOR, Red);
      }
      else
      {
      ObjectMove("S1 line", 0, Time[40], S1);
      }

      if(ObjectFind("S2 line") != 0)
      {
      ObjectCreate("S2 line", OBJ_HLINE, 0, Time[40], S2);
      ObjectSet("S2 line", OBJPROP_STYLE, STYLE_DASHDOTDOT);
      ObjectSet("S2 line", OBJPROP_COLOR, Red);
      }
      else
      {
      ObjectMove("S2 line", 0, Time[40], S2);
      }

      if(ObjectFind("S3 line") != 0)
      {
      ObjectCreate("S3 line", OBJ_HLINE, 0, Time[40], S3);
      ObjectSet("S3 line", OBJPROP_STYLE, STYLE_DASHDOTDOT);
      ObjectSet("S3 line", OBJPROP_COLOR, Red);
      }
      else
      {
      ObjectMove("S3 line", 0, Time[40], S3);
      }

      if(ObjectFind("P line") != 0)
      {
      ObjectCreate("P line", OBJ_HLINE, 0, Time[40], P);
      ObjectSet("P line", OBJPROP_STYLE, STYLE_DOT);
      ObjectSet("P line", OBJPROP_COLOR, Magenta);
      }
      else
      {
      ObjectMove("P line", 0, Time[40], P);
      }

      if(ObjectFind("R1 line") != 0)
      {
      ObjectCreate("R1 line", OBJ_HLINE, 0, Time[40], R1);
      ObjectSet("R1 line", OBJPROP_STYLE, STYLE_DASHDOTDOT);
      ObjectSet("R1 line", OBJPROP_COLOR, LimeGreen);
      }
      else
      {
      ObjectMove("R1 line", 0, Time[40], R1);
      }

      if(ObjectFind("R2 line") != 0)
      {
      ObjectCreate("R2 line", OBJ_HLINE, 0, Time[40], R2);
      ObjectSet("R2 line", OBJPROP_STYLE, STYLE_DASHDOTDOT);
      ObjectSet("R2 line", OBJPROP_COLOR, LimeGreen);
      }
      else
      {
      ObjectMove("R2 line", 0, Time[40], R2);
      }

      if(ObjectFind("R3 line") != 0)
      {
      ObjectCreate("R3 line", OBJ_HLINE, 0, Time[40], R3);
      ObjectSet("R3 line", OBJPROP_STYLE, STYLE_DASHDOTDOT);
      ObjectSet("R3 line", OBJPROP_COLOR, LimeGreen);
      }
      else
      {
      ObjectMove("R3 line", 0, Time[40], R3);
      }
   }
//---- End of Pivot Line Draw 


//----- Camarilla Lines

   if (camarilla==true)
   {
      if(ObjectFind("H4 label") != 0)
      {
      ObjectCreate("H4 label", OBJ_TEXT, 0, Time[20], H4);
      ObjectSetText("H4 label", " H4", 8, "Arial", White);
      }
      else
      {
      ObjectMove("H4 label", 0, Time[20], H4);
      }

      if(ObjectFind("H3 label") != 0)
      {
      ObjectCreate("H3 label", OBJ_TEXT, 0, Time[20], H3);
      ObjectSetText("H3 label", " H3", 8, "Arial", White);
      }
      else
      {
      ObjectMove("H3 label", 0, Time[20], H3);
      }

      if(ObjectFind("L3 label") != 0)
      {
      ObjectCreate("L3 label", OBJ_TEXT, 0, Time[20], L3);
      ObjectSetText("L3 label", " L3", 8, "Arial", White);
      }
      else
      {
      ObjectMove("L3 label", 0, Time[20], L3);
      }

      if(ObjectFind("L4 label") != 0)
      {
      ObjectCreate("L4 label", OBJ_TEXT, 0, Time[20], L4);
      ObjectSetText("L4 label", " L4", 8, "Arial", White);
      }
      else
      {
      ObjectMove("L4 label", 0, Time[20], L4);
      }

//---- Draw Camarilla lines on Chart
      if(ObjectFind("H4 line") != 0)
      {
      ObjectCreate("H4 line", OBJ_HLINE, 0, Time[40], H4);
      ObjectSet("H4 line", OBJPROP_STYLE, STYLE_DASHDOTDOT);
      ObjectSet("H4 line", OBJPROP_COLOR, Yellow);
      }
      else
      {
      ObjectMove("H4 line", 0, Time[40], H4);
      }

      if(ObjectFind("H3 line") != 0)
      {
      ObjectCreate("H3 line", OBJ_HLINE, 0, Time[40], H3);
      ObjectSet("H3 line", OBJPROP_STYLE, STYLE_DASHDOTDOT);
      ObjectSet("H3 line", OBJPROP_COLOR, Yellow);
      }
      else
      {
      ObjectMove("H3 line", 0, Time[40], H3);
      }

      if(ObjectFind("L3 line") != 0)
      {
      ObjectCreate("L3 line", OBJ_HLINE, 0, Time[40], L3);
      ObjectSet("L3 line", OBJPROP_STYLE, STYLE_DASHDOTDOT);
      ObjectSet("L3 line", OBJPROP_COLOR, Yellow);
      }
      else
      {
      ObjectMove("L3 line", 0, Time[40], L3);
      }

      if(ObjectFind("L4 line") != 0)
      {
      ObjectCreate("L4 line", OBJ_HLINE, 0, Time[40], L4);
      ObjectSet("L4 line", OBJPROP_STYLE, STYLE_DASHDOTDOT);
      ObjectSet("L4 line", OBJPROP_COLOR, Yellow);
      }
      else
      {
      ObjectMove("L4 line", 0, Time[40], L4);
      }
   }
//-------End of Draw Camarilla Lines

//------ Midpoints Pivots 

   if (midpivots==true)
   {

      if(ObjectFind("M5 label") != 0)
      {
      ObjectCreate("M5 label", OBJ_TEXT, 0, Time[20], M5);
      ObjectSetText("M5 label", " M5", 8, "Arial", White);
      }
      else
      {
      ObjectMove("M5 label", 0, Time[20], M5);
      }

      if(ObjectFind("M4 label") != 0)
      {
      ObjectCreate("M4 label", OBJ_TEXT, 0, Time[20], M4);
      ObjectSetText("M4 label", " M4", 8, "Arial", White);
      }
      else
      {
      ObjectMove("M4 label", 0, Time[20], M4);
      }

      if(ObjectFind("M3 label") != 0)
      {
      ObjectCreate("M3 label", OBJ_TEXT, 0, Time[20], M3);
      ObjectSetText("M3 label", " M3", 8, "Arial", White);
      }
      else
      {
      ObjectMove("M3 label", 0, Time[20], M3);
      }

      if(ObjectFind("M2 label") != 0)
      {
      ObjectCreate("M2 label", OBJ_TEXT, 0, Time[20], M2);
      ObjectSetText("M2 label", " M2", 8, "Arial", White);
      }
      else
      {
      ObjectMove("M2 label", 0, Time[20], M2);
      }

      if(ObjectFind("M1 label") != 0)
      {
      ObjectCreate("M1 label", OBJ_TEXT, 0, Time[20], M1);
      ObjectSetText("M1 label", " M1", 8, "Arial", White);
      }
      else
      {
      ObjectMove("M1 label", 0, Time[20], M1);
      }

      if(ObjectFind("M0 label") != 0)
      {
      ObjectCreate("M0 label", OBJ_TEXT, 0, Time[20], M0);
      ObjectSetText("M0 label", " M0", 8, "Arial", White);
      }
      else
      {
      ObjectMove("M0 label", 0, Time[20], M0);
      }
      
//---- Draw Midpoint Pivots on Chart
      if(ObjectFind("M5 line") != 0)
      {
      ObjectCreate("M5 line", OBJ_HLINE, 0, Time[40], M5);
      ObjectSet("M5 line", OBJPROP_STYLE, STYLE_DASHDOTDOT);
      ObjectSet("M5 line", OBJPROP_COLOR, Blue);
      }
      else
      {
      ObjectMove("M5 line", 0, Time[40], M5);
      }

      if(ObjectFind("M4 line") != 0)
      {
      ObjectCreate("M4 line", OBJ_HLINE, 0, Time[40], M4);
      ObjectSet("M4 line", OBJPROP_STYLE, STYLE_DASHDOTDOT);
      ObjectSet("M4 line", OBJPROP_COLOR, Blue);
      }
      else
      {
      ObjectMove("M4 line", 0, Time[40], M4);
      }

      if(ObjectFind("M3 line") != 0)
      {
      ObjectCreate("M3 line", OBJ_HLINE, 0, Time[40], M3);
      ObjectSet("M3 line", OBJPROP_STYLE, STYLE_DASHDOTDOT);
      ObjectSet("M3 line", OBJPROP_COLOR, Blue);
      }
      else
      {
      ObjectMove("M3 line", 0, Time[40], M3);
      }

      if(ObjectFind("M2 line") != 0)
      {
      ObjectCreate("M2 line", OBJ_HLINE, 0, Time[40], M2);
      ObjectSet("M2 line", OBJPROP_STYLE, STYLE_DASHDOTDOT);
      ObjectSet("M2 line", OBJPROP_COLOR, Blue);
      }
      else
      {
      ObjectMove("M2 line", 0, Time[40], M2);
      }

      if(ObjectFind("M1 line") != 0)
      {
      ObjectCreate("M1 line", OBJ_HLINE, 0, Time[40], M1);
      ObjectSet("M1 line", OBJPROP_STYLE, STYLE_DASHDOTDOT);
      ObjectSet("M1 line", OBJPROP_COLOR, Blue);
      }
      else
      {
      ObjectMove("M1 line", 0, Time[40], M1);
      }

      if(ObjectFind("M0 line") != 0)
      {
      ObjectCreate("M0 line", OBJ_HLINE, 0, Time[40], M0);
      ObjectSet("M0 line", OBJPROP_STYLE, STYLE_DASHDOTDOT);
      ObjectSet("M0 line", OBJPROP_COLOR, Blue);
      }
      else
      {
      ObjectMove("M0 line", 0, Time[40], M0);
      }

   }
//----End of Midpoint Pivots Draw
 
//---- End Of Program
   return(0);
  }
//+------------------------------------------------------------------+

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