This script is designed for the MetaTrader 4 platform to identify and display key Support and Resistance levels on a trading chart. Instead of relying on standard price action alone, it uses a specific mathematical approach based on daily price data to project potential turning points for the market.
Core Logic Overview
The indicator functions by analyzing the price movement of previous days to calculate "equilibrium" points. It identifies these levels by looking at the relationship between a day's High, Low, and Close prices.
Rather than just marking where the price stopped moving, it calculates a central average for each day and then applies specific offsets (ratios) to determine exactly where Support (floor) and Resistance (ceiling) are likely to sit.
Key Functional Details
- Timeframe Compatibility: The script is specifically optimized for intraday trading. It includes a built-in check that ensures it only functions on timeframes of 4 hours or less. If a user tries to apply it to a higher timeframe (like Daily or Weekly), the script will notify them via an on-screen comment.
- Data Source: The logic pulls data from the Daily (
D1) period. This means that even if you are viewing a smaller timeframe, the levels shown are grounded in the broader daily price structure. - Level Calculations: For every day identified in the history, the script calculates four distinct lines:
- Support Level 0 & 1: These represent two different "floor" zones calculated based on the previous day's price range.
- Resistance Level 0 & 1: These represent two different "ceiling" zones.
- Mathematical Offsets: The script uses specific multipliers (0.5 and 0.618) to project these levels from the daily average. This helps in identifying not just one single line, but a "zone" of interest where price might react.
- Dynamic Updates: The indicator is programmed to refresh its calculations automatically as new days form, ensuring that the levels remain relevant to the current market cycle.
Visual Representation
When active on a chart, the script draws four distinct lines:
- Two lines represent Support (the areas where buying pressure is expected to increase).
- Two lines represent Resistance (the areas where selling pressure is expected to increase).
- The colors are organized so that the user can easily distinguish between the primary and secondary levels of each type.
Indicators Used
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!RES-SUP
//+------------------------------------------------------------------+
//| !RES-SUP.mq4 |
//| TOPpoint|
//| toppoint@yandex.ru|
//+------------------------------------------------------------------+
#property copyright "TOPpoint"
#property link "mailto:TOPpoint@yandex.ru"
#property indicator_chart_window
#property indicator_buffers 4
#property indicator_color1 Gray // Öâåò ëèíèé ãðàôèêà
#property indicator_color2 Coral
#property indicator_color3 Coral
#property indicator_color4 Gray
#define LevelMaxDeep 2000 //----- Ãëóáèíà ïðîñìîòðà óðîâíåé
// Èíäèêàòîð ðàññ÷èòûâàåò ïðèîðèòåòíûå óðîâíè ïîääåðæêè/ñîïðîòèâëåíèÿ
// ïî çíà÷åíèÿì äíåâíîãî ATR
//extern int ATRPeriod = 10; // Ïåðèîä ãðàôèêà
//extern int Aprox=1;// 0-ïîäàëüøå; 1 - ïîáëèæå
datetime PrevTime; // Lock äëÿ ïðåäóïðåæäåíèÿ ïîâòîðíîé îòðèñîâêè
string ShortName="RES-SUP"; // Êîðîòêîå íàçâàíèå èíäèêàòîðà â îêíå
double OHLC_D1[][6]; // Ìàññèâ êóäà êîïèðóþòñÿ äíåâíûå ñâå÷êè
//---- buffers
double Sup0[],Sup1[],Res0[],Res1[];
//+------------------------------------------------------------------+
//| Èíèöèàëèçàöèÿ ìàññèâîâ |
//+------------------------------------------------------------------+
int InitChart()
{
//---- indicator line
SetIndexStyle(0,DRAW_LINE);
SetIndexStyle(1,DRAW_LINE);
SetIndexStyle(2,DRAW_LINE);
SetIndexStyle(3,DRAW_LINE);
SetIndexBuffer(0,Sup0);
SetIndexBuffer(1,Sup1);
SetIndexBuffer(2,Res0);
SetIndexBuffer(3,Res1);
//---- name for DataWindow and indicator subwindow label
// IndicatorShortName(ShortName+" ("+ATRPeriod+")");
IndicatorShortName(ShortName);
SetIndexLabel(0,"Ïîääåðæêà0");
SetIndexLabel(1,"Ïîääåðæêà1");
SetIndexLabel(2,"Ñîïðîòèâëåíèå0");
SetIndexLabel(3,"Ñîïðîòèâëåíèå1");
//----
SetIndexEmptyValue(0,0);
SetIndexEmptyValue(1,0);
SetIndexEmptyValue(2,0);
SetIndexEmptyValue(3,0);
//----
return(0);
}
//+------------------------------------------------------------------+
//| Ôóíêöèÿ èíèöèàëèçàöèè - óäàëÿåì ïðåäûäóùèå ëèíèè |
//+------------------------------------------------------------------+
int init()
{
InitChart();
return(0);
}
//+------------------------------------------------------------------+
//| Ôóíêöèÿ äåèíèöèàëèçàöèè - óäàëÿåì ïðåäûäóùèå ëèíèè |
//+------------------------------------------------------------------+
int deinit()
{
InitChart();
return(0);
}
//+------------------------------------------------------------------+
//| Îñíîâàÿ ôóíêöèÿ ðàñ÷åòà óðîâíåé |
//+------------------------------------------------------------------+
int start()
{
int counted_bars=IndicatorCounted();
int lastday=0, i, j, daybar=0, chartbar=0;
double LowYesterday, HighYesterday, LowToday, HighToday, fullatr1, fullatr2,fullatr4,fullatr5,fullatr3,L2,H2,L3,H3,L4,H4,L5,H5;
double LowY,HighY,Avr,AvrY,UpLine1,UpLine2,DnLine1,DnLine2;
//if (counted_bars<1) return(0);
// Åñëè âðåìÿ áàðà íå èçìåíèëîñü, âûõîäèì
if (PrevTime==Time[0]) return(-1);
if(Period() > PERIOD_H4)
{
Comment("ATR Levels - îøèáêà: ïåðèîä ãðàôèêà áîëåå Í4 !");
return(-1); // then exit
}
// 0 - time, 1 - open, 2 - low, 3 - high, 4 - close, 5 - volume.
ArrayCopyRates(OHLC_D1, Symbol(), PERIOD_D1);
lastday=TimeDay(Time[0]);
for (i=0; i<Bars; i++) {
if (lastday!=TimeDay(Time[i])) {
// Âû÷èñëÿåì çíà÷åíèå ATR ïðåäûäóùåãî áàðà
/* fullatr1 = iATR(Symbol(), PERIOD_D1, ATRPeriod, daybar+1);
fullatr2 = iATR(Symbol(), PERIOD_D1, ATRPeriod, daybar+2);
fullatr3 = iATR(Symbol(), PERIOD_D1, ATRPeriod, daybar+3);
fullatr4 = iATR(Symbol(), PERIOD_D1, ATRPeriod, daybar+4);
fullatr5 = iATR(Symbol(), PERIOD_D1, ATRPeriod, daybar+5);
// Îïðåäåëÿåì óðîâíè
LowYesterday = OHLC_D1[daybar+1][3] - fullatr1;//Äëÿ ðàññ÷åòà Ïÿòèäíåâíîé
HighYesterday = OHLC_D1[daybar+1][2] + fullatr1;//Äëÿ ðàññ÷åòà Ïÿòèäíåâíîé
LowY = OHLC_D1[daybar+1][1] - fullatr1/2;//Äëÿ ïîñòðîåíèÿ êàíàëîâ
HighY = OHLC_D1[daybar+1][1] + fullatr1/2;//Äëÿ ïîñòðîåíèÿ êàíàëîâ
L2=OHLC_D1[daybar+2][3] - fullatr2;
H2=OHLC_D1[daybar+2][2] + fullatr2;
L3=OHLC_D1[daybar+3][3] - fullatr3;
H3=OHLC_D1[daybar+3][2] + fullatr3;
L4=OHLC_D1[daybar+4][3] - fullatr4;
H4=OHLC_D1[daybar+4][2] + fullatr4;
L5=OHLC_D1[daybar+5][3] - fullatr5;
H5=OHLC_D1[daybar+5][2] + fullatr5;
LowToday = OHLC_D1[daybar][1] - (fullatr1+fullatr2)/4;
HighToday = OHLC_D1[daybar][1] + (fullatr1+fullatr2)/4;
Avr=(LowToday+HighToday)/2;
AvrY=(LowY+HighY)/2;*/
// Ñìåíèëñÿ äåíü, ðèñóåì ëèíèþ
UpLine1=HighToday;
UpLine2=HighYesterday;
DnLine1=LowToday;
DnLine2=LowYesterday;
//=============================
for (j=chartbar; j<i; j++) {
//Ôèêñèðîâàííîå ðàâíîâåñèå (äíåâíîå)
// Bline0[j]=(OHLC_D1[daybar+1][2]+OHLC_D1[daybar+1][3]+OHLC_D1[daybar+1][4])/3;
//Áàëàíñîâûå ñòóïåíüêè (äíåâíîå)
// Bline1[j]=((OHLC_D1[daybar+1][2]+OHLC_D1[daybar+1][3]+OHLC_D1[daybar+1][4])/3+(OHLC_D1[daybar+2][2]+OHLC_D1[daybar+2][3]+OHLC_D1[daybar+2][4])/3+(OHLC_D1[daybar+3][2]+OHLC_D1[daybar+3][3]+OHLC_D1[daybar+3][4])/3+(OHLC_D1[daybar+4][2]+OHLC_D1[daybar+4][3]+OHLC_D1[daybar+4][4])/3+(OHLC_D1[daybar+5][2]+OHLC_D1[daybar+5][3]+OHLC_D1[daybar+5][4])/3)/5;
//Äèíàìè÷åñêîå ðàâíîâåñèå (ïÿòèäíåâíîå)
// Bline2[j]=(OHLC_D1[daybar][2]+OHLC_D1[daybar][3]+OHLC_D1[daybar][4])/3;
Sup0[j]=(OHLC_D1[daybar+1][2]+OHLC_D1[daybar+1][3]+OHLC_D1[daybar+1][4])/3-(OHLC_D1[daybar+1][3]-OHLC_D1[daybar+1][2])*0.5;
Sup1[j]=(OHLC_D1[daybar+1][2]+OHLC_D1[daybar+1][3]+OHLC_D1[daybar+1][4])/3-(OHLC_D1[daybar+1][3]-OHLC_D1[daybar+1][2])*0.618;
Res0[j]=(OHLC_D1[daybar+1][2]+OHLC_D1[daybar+1][3]+OHLC_D1[daybar+1][4])/3+(OHLC_D1[daybar+1][3]-OHLC_D1[daybar+1][2])*0.5;
Res1[j]=(OHLC_D1[daybar+1][2]+OHLC_D1[daybar+1][3]+OHLC_D1[daybar+1][4])/3+(OHLC_D1[daybar+1][3]-OHLC_D1[daybar+1][2])*0.618;
// Bline1[j]=(LowYesterday+HighYesterday+L2+L3+H3+H2+L4+H4+L5+H5)/10;
// Bline2[j]=(OHLC_D1[daybar][1]+(OHLC_D1[daybar+1][2]+OHLC_D1[daybar+1][3]+OHLC_D1[daybar+1][4])/3+(OHLC_D1[daybar+2][2]+OHLC_D1[daybar+2][3]+OHLC_D1[daybar+2][4])/3)/3;
// Bline3[j]=(OHLC_D1[daybar][1]+OHLC_D1[daybar+1][1]+OHLC_D1[daybar+2][1]+OHLC_D1[daybar+3][1]+OHLC_D1[daybar+4][1])/5;
// Bline1[j]=((OHLC_D1[daybar+1][2]+OHLC_D1[daybar+1][3]+OHLC_D1[daybar+1][4])/3+(OHLC_D1[daybar+2][2]+OHLC_D1[daybar+2][3]+OHLC_D1[daybar+2][4])/3+(OHLC_D1[daybar+3][2]+OHLC_D1[daybar+3][3]+OHLC_D1[daybar+3][4])/3+(OHLC_D1[daybar+4][2]+OHLC_D1[daybar+4][3]+OHLC_D1[daybar+4][4])/3+(OHLC_D1[daybar+5][2]+OHLC_D1[daybar+5][3]+OHLC_D1[daybar+5][4])/3)/5;
}
lastday=TimeDay(Time[i]);
daybar++;
chartbar=i;
}
}
// Çàïîìèíàåì âðåìÿ ïîñëåäíåãî áàðà (÷òîáû íå ñ÷èòàòü äèâåðû ïîâòîðíî)
PrevTime=Time[0];
return(0);
}
//+------------------------------------------------------------------+
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