Description
Found some nice script on Tradingview, modified it and converted to calgo.
Basically its like pivot points but with different calculation.
These Levels are meant to be often used by the Banks.
You can choose Source between HL2 (recommended) ,HLC3 and Weighted.
Customizable Timeframe (Daily and Weekly works best imo), and colors. Optional Fill between Lines for better visibility.
Enjoy
GBPJPY, m15:
EURCHF, m15:
If you like my work, feel free to spend me a Corona Beer :-)
using System;
using cAlgo.API;
using cAlgo.API.Indicators;
using cAlgo.API.Internals;
using cAlgo.Indicators;
namespace cAlgo.Indicators
{
[Indicator(IsOverlay = true, AccessRights = AccessRights.None)]
public class KEYLEVELS : Indicator
{
//////////////////////////////////////////////////////////////////////// GENERAL PARAMETERS
[Parameter("Lookback (Days)", Group = "GENERAL", DefaultValue = 7, MinValue = 0, MaxValue = 100)]
public int _lookback { get; set; }
[Parameter("Timeframe", Group = "GENERAL", DefaultValue = "Daily")]
public TimeFrame _tf { get; set; }
[Parameter("Source", Group = "GENERAL", DefaultValue = SourceType.HL2)]
public SourceType source { get; set; }
public enum SourceType
{
HLC3,
HL2,
weighted
}
[Parameter("min. tf (minutes)", Group = "GENERAL", DefaultValue = 3, MinValue = 3)]
public int _mintf { get; set; }
[Parameter("max. tf (minutes)", Group = "GENERAL", DefaultValue = 120)]
public int _maxtf { get; set; }
//////////////////////////////////////////////////////////////////////// VISUALS PARAMETERS
[Parameter("Levels to show", Group = "VISUALS", DefaultValue = 8, MinValue = 1, MaxValue = 15)]
public int _levelsToShow { get; set; }
[Parameter("Fill each second band", Group = "VISUALS", DefaultValue = true)]
public bool _fillbands { get; set; }
[Parameter("Line thickness", Group = "VISUALS", DefaultValue = 1, MinValue = 1, MaxValue = 5)]
public int _thickness { get; set; }
//////////////////////////////////////////////////////////////////////// COLOR PARAMETERS
[Parameter("Pivot Color", Group = "COLORS", DefaultValue = "Yellow")]
public string col_param_pivot { get; set; }
[Parameter("Near Pivot Color", Group = "COLORS", DefaultValue = "Purple")]
public string col_param_nearpivot { get; set; }
[Parameter("Support Color", Group = "COLORS", DefaultValue = "Lime")]
public string col_param_sup { get; set; }
[Parameter("Resistance Color", Group = "COLORS", DefaultValue = "Red")]
public string col_param_res { get; set; }
private Color col_pivot, col_nearpivot, col_sup, col_res;
private Bars dailybars;
private Bars minutebars;
//////////////////////////////////////////////////////////////////////// INITIALIZE
protected override void Initialize()
{
// Convert Color strings to color value
col_pivot = Color.FromArgb(255, Color.FromName(col_param_pivot).R, Color.FromName(col_param_pivot).G, Color.FromName(col_param_pivot).B);
col_nearpivot = Color.FromArgb(255, Color.FromName(col_param_nearpivot).R, Color.FromName(col_param_nearpivot).G, Color.FromName(col_param_nearpivot).B);
col_sup = Color.FromArgb(255, Color.FromName(col_param_sup).R, Color.FromName(col_param_sup).G, Color.FromName(col_param_sup).B);
col_res = Color.FromArgb(255, Color.FromName(col_param_res).R, Color.FromName(col_param_res).G, Color.FromName(col_param_res).B);
// get daily bars for lookback length
dailybars = MarketData.GetBars(TimeFrame.Daily);
// get minute bars for Label position
minutebars = MarketData.GetBars(TimeFrame.Minute);
}
//////////////////////////////////////////////////////////////////////// MAIN CALCULATION
public override void Calculate(int index)
{
// Abort and show warning if any Timeframe is set to < 1H
if (_tf < TimeFrame.Hour)
{
Chart.DrawText("Warning", "KEY LEVELS: \r\nDont set TF to under 1H", Bars.LastBar.OpenTime, Bars.LastBar.High, Color.Red);
return;
}
// Get Time
int index2 = dailybars.OpenTimes.GetIndexByTime(Bars.OpenTimes[index]);
// plot only x Days
if (dailybars.ClosePrices.Count - index2 > _lookback && _lookback != -1)
return;
// minute difference between bars
var timeFrameMinutes = (int)(Bars.OpenTimes[index] - Bars.OpenTimes[index - 1]).TotalMinutes;
// prevent showing up on < 3m chart
if (timeFrameMinutes < 3)
return;
//Call functions depending on timeframe
if (timeFrameMinutes >= _mintf && timeFrameMinutes <= _maxtf)
PlotKeyLevels(index, _tf, _levelsToShow, _thickness);
}
//////////////////////////////////////////////////////////////////////// PLOT LEVELS
public void PlotKeyLevels(int index, TimeFrame tf, int levelsToShow, int thickness)
{
// get bars of selected timeframe
Bars tf_bars = MarketData.GetBars(tf);
// abort if chart timeframe = choosen indicator timeframe
if (tf_bars.Count == Bars.Count)
return;
int idx1 = tf_bars.OpenTimes.GetIndexByTime(Bars.OpenTimes[index]);
int idx2 = Bars.OpenTimes.GetIndexByTime(tf_bars.OpenTimes[idx1]);
// get prices
double open = tf_bars.OpenPrices[idx1];
double high = tf_bars.HighPrices[idx1 - 1];
double low = tf_bars.LowPrices[idx1 - 1];
double close = tf_bars.ClosePrices[idx1 - 1];
double hl2 = tf_bars.MedianPrices[idx1 - 1];
double hlc3 = tf_bars.TypicalPrices[idx1 - 1];
double weighted = tf_bars.WeightedPrices[idx1 - 1];
double pivot = source == SourceType.HL2 ? hl2 : source == SourceType.HLC3 ? hlc3 : source == SourceType.weighted ? weighted : 0;
double q = 0.5 * (pivot - high);
// draw pivot
Chart.DrawTrendLine("pivot" + idx1, idx2, pivot, index, pivot, col_pivot, thickness);
// draw support
for (int i = 1; i <= _levelsToShow; i++)
Chart.DrawTrendLine("support" + idx1 + i, idx2, pivot + q * i, index, pivot + q * i, col_sup, thickness);
// draw resistance
for (int i = 1; i <= _levelsToShow; i++)
Chart.DrawTrendLine("resistance" + idx1 + i, idx2, pivot - q * i, index, pivot - q * i, col_res, thickness);
// fill each second bar for better visibility
if (_fillbands)
{
// fill support
for (int i = 3; i <= _levelsToShow; i += 2)
Chart.DrawRectangle("SupFill " + idx1 + i, idx2, pivot + q * i, index, pivot + (q * (i - 1)), Color.FromArgb(50, 0, 150, 0)).IsFilled = true;
// fill resistance
for (int i = 3; i <= _levelsToShow; i += 2)
Chart.DrawRectangle("ResFill " + idx1 + i, idx2, pivot - q * i, index, pivot - (q * (i - 1)), Color.FromArgb(50, 150, 0, 0)).IsFilled = true;
}
}
}
}
DontMatter
Joined on 15.11.2019
- Distribution: Free
- Language: C#
- Trading platform: cTrader Automate
- File name: KEY LEVELS 1.0.algo
- Rating: 5
- Installs: 4466
- Modified: 13/10/2021 09:54
Comments
working on notifications for all my indicators in my spare time. I'll release new version soon.
Thanks DontMatter !!
I am not a programmer, would you be able to add an acoustic signal when reaching the pivots?
I would be grateful.
HL2 Lines get respected more often than HLC3 imo, but dyor
Very interesting!! Why do you recommend setting up HL2?
Thanks.
Max
Great indicator, thx for sharing. But it seems like the pivot lines aren't extended throughout the trading day, when you're on a tick chart? anyway around this issue? thx