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mql5

Thankful Thrush answered on March 27, 2024 Popularity 1/10 Helpfulness 1/10

answer mql5

mql5

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//+------------------------------------------------------------------+
//|                                              SupportResistance.mq5|
//|                        Copyright 2024, Your Company             |
//|                                       http://www.yourwebsite.com |
//+------------------------------------------------------------------+
#property strict

input int LookbackBars = 100; // Number of bars to look back for swing high/lows
input int MinTouchCount = 3;  // Minimum number of touches to consider a level

//+------------------------------------------------------------------+
//| Expert initialization function                                   |
//+------------------------------------------------------------------+
int OnInit()
{
    return INIT_SUCCEEDED;
}

//+------------------------------------------------------------------+
//| Expert deinitialization function                                 |
//+------------------------------------------------------------------+
void OnDeinit(const int reason)
{
    // Remove all objects on deinitialization
    ObjectsDeleteAll(0, OBJ_HLINE);
}

//+------------------------------------------------------------------+
//| Expert tick function                                             |
//+------------------------------------------------------------------+
void OnTick()
{
    FindSupportResistance();
    Sleep(5000); // Sleep for 5 seconds to avoid excessive calculations
}

//+------------------------------------------------------------------+
//| Function to identify support and resistance levels               |
//+------------------------------------------------------------------+
void FindSupportResistance()
{
    double prevLow, prevHigh;
    int supportCount = 0, resistanceCount = 0;

    for (int i = 1; i <= LookbackBars; i++)
    {
        prevLow = Low[i - 1];
        prevHigh = High[i - 1];

        // Identify swing lows
        if (Low[i] > prevLow && Low[i] > Low[i + 1])
        {
            int touches = CountTouches(Low[i], i, MODE_LOW);
            if (touches >= MinTouchCount)
            {
                DrawSupportLevel(Low[i]);
                supportCount++;
            }
        }

        // Identify swing highs
        if (High[i] < prevHigh && High[i] < High[i + 1])
        {
            int touches = CountTouches(High[i], i, MODE_HIGH);
            if (touches >= MinTouchCount)
            {
                DrawResistanceLevel(High[i]);
                resistanceCount++;
            }
        }
    }

    // Print the number of support and resistance levels found
    Print("Support levels found: ", supportCount);
    Print("Resistance levels found: ", resistanceCount);
}

//+------------------------------------------------------------------+
//| Function to count touches of a level                             |
//+------------------------------------------------------------------+
int CountTouches(double level, int index, int mode)
{
    int touches = 0;
    for (int i = index - LookbackBars; i <= index + LookbackBars; i++)
    {
        if (mode == MODE_HIGH && High[i] >= level)
            touches++;
        else if (mode == MODE_LOW && Low[i] <= level)
            touches++;
    }
    return touches;
}

//+------------------------------------------------------------------+
//| Function to draw support level                                   |
//+------------------------------------------------------------------+
void DrawSupportLevel(double price)
{
    string objectName = "Support_" + DoubleToString(price, _Digits);
    if (!ObjectFind(0, objectName))
        ObjectCreate(0, objectName, OBJ_HLINE, 0, price);
}

//+------------------------------------------------------------------+
//| Function to draw resistance level                                |
//+------------------------------------------------------------------+
void DrawResistanceLevel(double price)
{
    string objectName = "Resistance_" + DoubleToString(price, _Digits);
    if (!ObjectFind(0, objectName))
        ObjectCreate(0, objectName, OBJ_HLINE, 0, price);
}

Popularity 1/10 Helpfulness 1/10 Language sql

Source: chat.openai.com

Tags: mql5 sql

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Contributed on Mar 27 2024

Thankful Thrush

0 Answers Avg Quality 2/10

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