SL_to_Bar_ENG
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This script is designed as a visual aid for traders using the MetaTrader platform. Its primary purpose is to automatically identify and highlight potential "Stop Loss" (SL) levels on a price chart based on historical price action. By analyzing previous candles, it helps traders visualize where significant structural points might trigger an exit.
Core Functionality
1. Historical Structural Analysis The script scans the most recent price history (up to 200 bars by default) to find specific "pivot" points. It looks for candles that are completely contained within the range of the current candle—meaning they represent a structural "pocket" in the market.
- For Buy Positions: It identifies the most recent candle where the high and low prices are lower than the current candle's boundaries, helping to pinpoint a logical floor for a stop loss.
- For Sell Positions: It looks for candles where the high and low prices are higher than the current candle's boundaries, identifying a logical ceiling.
2. Dynamic Visual Feedback To make this data easy to read at a glance, the script draws geometric shapes (rectangles) directly on your chart:
- It highlights the specific historical bar that determined the Stop Loss level.
- It uses distinct colors to differentiate between these levels and the current active price action.
- It creates "footers" or markers (arrows) to clearly indicate where the calculated Stop Loss sits relative to the current market price.
3. Multi-Timeframe Awareness The script contains an intelligent logic system that understands different trading periods (e.g., M1, M5, H1, Daily). It automatically adjusts its analysis window based on the timeframe you are viewing, ensuring that the structural analysis remains relevant whether you are scalping short-term moves or swing trading long-term trends.
4. Safety and Compliance Monitoring Beyond just drawing lines, the script includes an automated monitoring system for active trades:
- It scans your open orders to check for any "naked" positions (trades currently running without a Stop Loss).
- If it detects a position lacking protection, it displays a text notification on the chart to alert you immediately.
5. Emergency Fallback Logic In scenarios where the script cannot find a clear historical structural point within the last 200 bars, it initiates a secondary search. It will look ahead at slightly higher timeframes to find any price extremes that meet a minimum distance requirement, ensuring that you are always provided with a suggested level even in volatile or trending markets.
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SL_to_Bar_ENG
//+------------------------------------------------------------------+
//| SL_to_Bar.mq4 |
//| Copyright © 2009, Vladimir Hlystov |
//| |
//+------------------------------------------------------------------+
#property copyright "Copyright © 2009, Vladimir Hlystov"
#property link "cmillion@narod.ru"
#property indicator_chart_window
//+------------------------------------------------------------------+
extern int BAR = 200;//searching for in last BAR bar
extern int minSL = 25;//it is exposed when 2 bars are not found
extern bool show_bar = true;//show bars on which search for SL
extern bool show_info = true;//show order on which is not installed by SL
extern color color_BAR = DarkSlateGray;//colour bar on which search for SL
extern color color_Òåê_BAR = Gray;//colour of the current bar
extern color color_SL = Gray;//colour of the marks
//+------------------------------------------------------------------+
int per,Ask_Bid;
color colmet;
//+------------------------------------------------------------------+
int init()
{
per=Period();
Ask_Bid = MarketInfo(Symbol(),MODE_STOPLEVEL);
return(0);
}
//+------------------------------------------------------------------+
int deinit()
{
ObjectDelete("SL-UP-bar ");
ObjectDelete("SL-LO-bar ");
ObjectDelete("SL-0-bar");
ObjectDelete("SL for Sell ");
ObjectDelete("SL for Buy ");
return(0);
}
//+------------------------------------------------------------------+
int start()
{
double SL_Buy =Stop_Loss( 1);
double SL_Sell=Stop_Loss(-1);
string info;
Drawfoots(SL_Sell,SL_Buy);
if (show_info)
{
for (int i=0; i<OrdersTotal(); i++)
{
if((OrderSelect(i, SELECT_BY_POS)==true) && (OrderSymbol()==Symbol()))
{
if (OrderType()<2) // Buy or Sell
{
if (OrderStopLoss()==0)
{
info=info+"Order "+OrderTicket()+" without SL\n";
}
}
}
}
Comment(info);
}
return(0);
}
//+------------------------------------------------------------------+
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//////////////////////////////////////////////////////////////////////
// Stop_Loss //
// Returns importance SL for operation of the buying or sale //
// "Copyright © 2009, Vladimir Hlystov" //
// "cmillion@narod.ru" //
// direction = 1 Buy -1 Sell //
// //
//////////////////////////////////////////////////////////////////////
double Stop_Loss(int direction)
{
if (direction == 0) return (0);
int i;
int timeframe,toBar,tf;
double SL_toBar,
max_toBar,
min_toBar;
timeframe=next_period(per+1);
double max_0Bar = iHigh( NULL, timeframe, 0);
double min_0Bar = iLow ( NULL, timeframe, 0);
if ( direction ==1 ) //Buy
{
SL_toBar=0;
for (toBar=1; toBar<BAR; toBar++)
{
max_toBar = iHigh( NULL, timeframe, toBar);
min_toBar = iLow ( NULL, timeframe, toBar);
if ( max_0Bar > max_toBar && min_0Bar > min_toBar)
{
SL_toBar = min_toBar-Point*Ask_Bid;
if (show_bar==true){
ObjectDelete("SL-UP-bar ");
ObjectCreate("SL-UP-bar ", OBJ_RECTANGLE, 0, 0,0, 0,0);
ObjectSet ("SL-UP-bar ", OBJPROP_STYLE, STYLE_SOLID);
ObjectSet ("SL-UP-bar ", OBJPROP_COLOR, color_BAR);
ObjectSet ("SL-UP-bar ", OBJPROP_BACK, true);
ObjectSet ("SL-UP-bar ", OBJPROP_TIME1 , iTime( NULL, timeframe, toBar-1));
ObjectSet ("SL-UP-bar ", OBJPROP_PRICE1, SL_toBar);
ObjectSet ("SL-UP-bar ", OBJPROP_TIME2 , iTime( NULL, timeframe, toBar));
ObjectSet ("SL-UP-bar ", OBJPROP_PRICE2, max_toBar);}
break;
}
}
if (SL_toBar==0)//No SL
{ tf=timeframe;
for (i=1; i<5; i++)
{
tf=next_period(tf+1);
if ((iLow(NULL,tf,0)-Point*Ask_Bid) < (Bid-Point*minSL))
{
SL_toBar=iLow(NULL,tf,0)-Point*Ask_Bid;
if (show_bar==true){
ObjectDelete("SL-UP-bar ");
ObjectCreate("SL-UP-bar ", OBJ_RECTANGLE, 0, 0,0, 0,0);
ObjectSet ("SL-UP-bar ", OBJPROP_STYLE, STYLE_SOLID);
ObjectSet ("SL-UP-bar ", OBJPROP_COLOR, Red);
ObjectSet ("SL-UP-bar ", OBJPROP_BACK, false);
ObjectSet ("SL-UP-bar ", OBJPROP_TIME1 , iTime( NULL, tf, 0));
ObjectSet ("SL-UP-bar ", OBJPROP_PRICE1, SL_toBar);
ObjectSet ("SL-UP-bar ", OBJPROP_TIME2 , CurTime());
ObjectSet ("SL-UP-bar ", OBJPROP_PRICE2, iHigh( NULL, tf, 0));}
break;
}
}
}
}
if ( direction ==-1 ) //Sell
{
SL_toBar=0;
for (toBar=1; toBar<BAR; toBar++)
{
max_toBar = iHigh( NULL, timeframe, toBar);
min_toBar = iLow ( NULL, timeframe, toBar);
if ( max_0Bar < max_toBar && min_0Bar < min_toBar)
{
SL_toBar = max_toBar+Point*Ask_Bid;
if (show_bar==true){
ObjectDelete("SL-LO-bar ");
ObjectCreate("SL-LO-bar ", OBJ_RECTANGLE, 0, 0,0, 0,0);
ObjectSet ("SL-LO-bar ", OBJPROP_STYLE, STYLE_SOLID);
ObjectSet ("SL-LO-bar ", OBJPROP_COLOR, color_BAR);
ObjectSet ("SL-LO-bar ", OBJPROP_BACK, true);
ObjectSet ("SL-LO-bar ", OBJPROP_TIME1 , iTime( NULL, timeframe, toBar-1));
ObjectSet ("SL-LO-bar ", OBJPROP_PRICE1, min_toBar);
ObjectSet ("SL-LO-bar ", OBJPROP_TIME2 , iTime( NULL, timeframe, toBar));
ObjectSet ("SL-LO-bar ", OBJPROP_PRICE2, SL_toBar);}
break;
}
}
if (SL_toBar==0)//No SL
{ tf=timeframe;
for (i=1; i<5; i++)
{
tf=next_period(tf+1);
if ((iHigh(NULL,tf,0)+Point*Ask_Bid) > (Ask+Point*minSL))
{
SL_toBar=iHigh(NULL,tf,0)+Point*Ask_Bid;
if (show_bar==true){
ObjectDelete("SL-LO-bar ");
ObjectCreate("SL-LO-bar ", OBJ_RECTANGLE, 0, 0,0, 0,0);
ObjectSet ("SL-LO-bar ", OBJPROP_STYLE, STYLE_SOLID);
ObjectSet ("SL-LO-bar ", OBJPROP_COLOR, Red);
ObjectSet ("SL-LO-bar ", OBJPROP_BACK, false);
ObjectSet ("SL-LO-bar ", OBJPROP_TIME1 , iTime( NULL, tf, 0));
ObjectSet ("SL-LO-bar ", OBJPROP_PRICE1, iLow ( NULL, tf, 0));
ObjectSet ("SL-LO-bar ", OBJPROP_TIME2 , CurTime());
ObjectSet ("SL-LO-bar ", OBJPROP_PRICE2, SL_toBar);}
break;
}
}
}
}
if (show_bar==true){
ObjectDelete("SL-0-bar");
ObjectCreate("SL-0-bar", OBJ_RECTANGLE, 0, 0,0, 0,0);
ObjectSet ("SL-0-bar", OBJPROP_STYLE, STYLE_SOLID);
ObjectSet ("SL-0-bar", OBJPROP_COLOR, color_Òåê_BAR);
ObjectSet ("SL-0-bar", OBJPROP_BACK, true);
ObjectSet ("SL-0-bar", OBJPROP_TIME1 , iTime( NULL, timeframe, 0));
ObjectSet ("SL-0-bar", OBJPROP_PRICE1, min_0Bar);
ObjectSet ("SL-0-bar", OBJPROP_TIME2 , iTime( NULL, timeframe, 0)+timeframe*60);
ObjectSet ("SL-0-bar", OBJPROP_PRICE2, max_0Bar);}
return (SL_toBar);
}
//+------------------------------------------------------------------+
double Drawfoots(double top, double bottom)
{
int indention=Time[0]+per*3*60;
if (show_bar==true)
{
colmet=color_SL;
if (top==0) {top=Ask;colmet=Red;}
ObjectDelete("SL for Sell ");
ObjectCreate("SL for Sell ", OBJ_ARROW,0,indention,top,0,0,0,0);
ObjectSet ("SL for Sell ", OBJPROP_ARROWCODE,6);
ObjectSet ("SL for Sell ", OBJPROP_COLOR,colmet );
ObjectSet ("SL for Sell ", OBJPROP_BACK, true);
colmet=color_SL;
if (bottom ==0) {bottom =Bid;colmet=Red;}
ObjectDelete("SL for Buy ");
ObjectCreate("SL for Buy ", OBJ_ARROW,0,indention,bottom,0,0,0,0);
ObjectSet ("SL for Buy ", OBJPROP_ARROWCODE,6);
ObjectSet ("SL for Buy ", OBJPROP_COLOR,colmet );
ObjectSet ("SL for Buy ", OBJPROP_BACK, true);
}
}
//+------------------------------------------------------------------+
int next_period(int per)
{
if (per > 10080) return(43200);
if (per > 1440) return(10080);
if (per > 240) return(1440);
if (per > 60) return(240);
if (per > 30) return(240);
if (per > 15) return(60);
if (per > 5) return(30);
if (per > 1) return(5);
}
//+------------------------------------------------------------------+
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