Pivot Lines Timezone_001

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Author: Copyright � 2004, MetaQuotes Software Corp.
Pivot Lines Timezone_001

This script is a specialized technical analysis tool designed for the MetaTrader platform. Its primary purpose is to automatically calculate and display various "Pivot Points"—horizontal price levels that traders use to identify potential areas of support and resistance in the financial markets.

Core Functionality

The script works by analyzing historical price data from previous trading sessions (specifically daily and hourly timeframes) to project key price levels for the current period. It automates the math required to find where "pivots" might occur, allowing traders to see these visual cues instantly on their charts without manual calculation.

Key Features & Logic

1. Dynamic Data Collection The script begins by scanning historical data to identify specific key price points:

  • Yesterday's High, Low, and Close: These serve as the foundation for most calculations.
  • Today's High and Low: Used to track current market volatility.
  • Timezone Awareness: The logic includes a mechanism to adjust for different time zones, ensuring that "Open" and "Close" prices are captured correctly based on the user’s specific regional settings.

2. Multiple Pivot Methodologies The script is versatile because it can display three distinct types of pivot systems depending on the user's preference:

  • Standard Pivots: These provide a central "Pivot" point with associated Resistance (R1, R2, R3) and Support (S1, S2, S3) levels. These are widely used for identifying general trend boundaries.
  • Camarilla Pivots: This is a more advanced calculation system. It focuses on specific ranges (H3, H4, L3, L4) which are often used by day traders to identify breakouts or reversals within a single trading session.
  • Midpoint Pivots: This generates a series of intermediate levels (M0 through M5). These act as "sub-levels" that break down the larger pivot ranges into smaller segments, helping traders find more precise entries and exits.

3. Visual Presentation Rather than just providing numbers in a list, the script actively manages the visual workspace:

  • Automated Drawing: It automatically creates horizontal lines on the chart for every calculated level.
  • Labeling: Each line is accompanied by a text label (e.g., "R1", "M2") so the user knows exactly what each price level represents.
  • Dynamic Updating: As new price data becomes available, the script moves and updates these lines in real-time to reflect the current market environment.
  • Visual Distinction: Different types of pivots are assigned unique colors (such as LimeGreen for Resistance, Red for Support, and Blue or Yellow for other variations) to help the trader distinguish between different types of price zones at a glance.

4. User Constraints & Safety To ensure accuracy, the script includes a safety check: if a user attempts to apply it to a timeframe larger than one day (such as a weekly chart), the script will provide an error message. This ensures the daily-based calculations remain relevant to the visual data being displayed.

Miscellaneous
Implements a curve of type %1
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Pivot Lines Timezone_001 
//+-------------------------------------------------------------------+
//|                                          Pivot Lines TimeZone.mq4 |
//|                       Copyright © 2004, MetaQuotes Software Corp. |
//|                                         http://www.metaquotes.net |
//|                                Made/Modified by Alejandro Galindo |
//|                                                                   |
//|                                                                   |
//|                                       help me to continue coding  |
//|                                PayPal donation to ag@elcactus.com |
//+-------------------------------------------------------------------+
#property copyright "Copyright © 2004, MetaQuotes Software Corp."
#property link      "http://www.metaquotes.net"
#property indicator_buffers 5
#property indicator_chart_window

extern int TimeZone=0;
extern bool pivots = true;
extern bool camarilla = false;
extern bool midpivots = false;

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_h1[2][6];
double rates_d1[2][6];
double pivotbuffer[];
double s1buffer[];
double r1buffer[];
double s2buffer[];
double r2buffer[];

//+------------------------------------------------------------------+
//| 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;

 SetIndexStyle(0,DRAW_LINE,EMPTY);
 SetIndexBuffer(0, pivotbuffer);
 SetIndexStyle(1,DRAW_LINE,EMPTY);
 SetIndexBuffer(1, s1buffer);
 SetIndexStyle(2,DRAW_LINE,EMPTY);
 SetIndexBuffer(2, r1buffer);
 SetIndexStyle(3,DRAW_LINE,EMPTY);
 SetIndexBuffer(4, s2buffer);
 SetIndexStyle(5,DRAW_LINE,EMPTY);
 SetIndexBuffer(5, r2buffer);


//----
   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");
//----
   return(0);
  }
//+------------------------------------------------------------------+
//| Custom indicator iteration function                              |
//+------------------------------------------------------------------+
int start()
  {
      int i=0, j=0;
//---- 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);
yesterday_high = rates_d1[1][3];
yesterday_low = rates_d1[1][2]; 
day_high = rates_d1[0][3];
day_low = rates_d1[0][2];

ArrayCopyRates(rates_h1, Symbol(), PERIOD_H1);
for (i=0;i<=25;i++)
{
   if (TimeMinute(rates_h1[i][0])==0 && (TimeHour(rates_h1[i][0])-TimeZone)==0)
   {
      yesterday_close = rates_h1[i+1][4];      
      yesterday_open = rates_h1[i+24][1];
      today_open = rates_h1[i][1];      
      break;
   }
}

//---- 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*10000;
}

if (D > 5)
{
	nD = D;
}
else
{
	nD = D*10000;
}


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

//---- 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);
      }
      r1buffer[0]=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);
      }
      r2buffer[0]=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);
      }
      pivotbuffer[0]=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);
      }
      s1buffer[0]=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);
      }
      s2buffer[0]=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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