H4 pivot indicator | Forex Factory

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H4 pivot indicator

  • #1
  • First Post: Nov 14, 2008 9:52am Nov 14, 2008 9:52am
Hi. This is an Hourly pivot indicator attached. I've searched the forum for 4H pivot indicator without a result. Maybe possible to make some small changes to the code of this indicator. Can anybody hint how to change 1h pivot to 4h pivot in the atached indicator. thank you.
Attached File(s)
File Type: mq4 Hourly Pivot Point.mq4   4 KB | 1,923 downloads
  • #2
  • Nov 14, 2008 3:18pm Nov 14, 2008 3:18pm
An interesting indicator. Here's the changes you need to make for this to work.

This line changes what charts your indicator is viewable in.
Inserted Code
// your code, please comment it or delete it
// if (Period() > 60) return(0);  

// new code
if (Period() > 240) return(0);
Here we add some variables. Instead of running off an incrementation on the current chart which is throwing off your results, we're going to use the info from the 4 Hour chart.

Inserted Code
// your code
// int period = MathCeil(60 / Period());

// new code
int period = MathCeil(240 / Period());
int timechart = PERIOD_H4;
int ii;
This code implements the new variables.

Inserted Code
// your code
// prevH = High[Highest(NULL, 0, MODE_HIGH, period, i+1)]; 
// prevL = Low [Lowest (NULL, 0, MODE_LOW,  period, i+1)]; 
// prevC = Close[i+1];

// new code
ii = iBarShift(NULL, timechart, iTime(NULL,0,(i + 1)));
prevH = iHigh(NULL, timechart, ii);
prevL = iLow(NULL, timechart, ii);
prevC = iClose(NULL, timechart, ii);
  • #3
  • Nov 14, 2008 5:53pm Nov 14, 2008 5:53pm
I would like to make one correction to the above post. You'll need to replace the last section of code with this update. This way, you are working off the high, low, and close of the previous four hour block. This method more accurately mimics the Daily Moving Pivot approach.

Inserted Code
// replace this code
prevH = iHigh(NULL, timechart, ii);
prevL = iLow(NULL, timechart, ii);
prevC = iClose(NULL, timechart, ii);

// with this code
prevH = iHigh(NULL, timechart, ii + 1);
prevL = iLow(NULL, timechart, ii + 1);
prevC = iClose(NULL, timechart, ii + 1);

// -- OR -- 

// of course the above changes are for your reference only.  You could make this change instead, but I didn't want to confuse you.
ii = iBarShift(NULL, PERIOD_H4, iTime(NULL,0,(i + 1))) + 1;
If you would like more accurate Hourly Pivot information than what you previously had, you'll make the following changes.

Inserted Code
// take the new code with the additional change above and make the following changes

// change this line
if (Period() > 240) return(0);

// back to this
if (Period() > 60) return(0);
next..
Inserted Code
// change these lines
int period = MathCeil(240 / Period());
int timechart = PERIOD_H4;

// to this
int period = MathCeil(60 / Period());
int timechart = PERIOD_H1;
You were working off the wrong incrementation all along. This was why you couldn't get the results you wanted.

For example, you should be able to go to the hour chart in this instance, calculate the previous hour's high, low, and close figures, and see that same pivot line all across your current hour's 5 minute chart.
  • #4
  • Nov 14, 2008 6:25pm Nov 14, 2008 6:25pm
Now turn this indicator into a really nice Daily Pivot Indicator that everyone else uses with the following changes. This tool is pretty powerful.

You can use the crossing of the pivot line as an extra indicator for any of your current trade systems.

Inserted Code
// change this
if (Period() > 240) return(0);

// to this
if (Period() > 1440) return(0);
then..

Inserted Code
// change
int period = MathCeil(240 / Period());
int timechart = PERIOD_H4;

// to this
int period = MathCeil(1440 / Period());
int timechart = PERIOD_D1;
Now, you'll want to compensate for that tricky one hour of Sunday tick data that pops in from time to time.

Inserted Code
// add the following line 
if (TimeDayOfWeek(iTime(0, timechart, ii + 1)) == 0) ii += 1;

// example of placement
ii = iBarShift(NULL, timechart, iTime(NULL,0,(i + 1))) + 1;
if (TimeDayOfWeek(iTime(0, timechart, ii)) == 0) ii += 1;
prevH = iHigh(NULL, timechart, ii);
prevL = iLow(NULL, timechart, ii);
prevC = iClose(NULL, timechart, ii);
  • #5
  • Nov 14, 2008 6:51pm Nov 14, 2008 6:51pm
I also noticed another piece to the puzzle. One more line needs some modification:

Inserted Code
// this line
ii = iBarShift(NULL, timechart, iTime(NULL,0,(i + 1))) + 1

// needs to be
ii = iBarShift(NULL, timechart, iTime(NULL,0,i)) + 1;

I've Included all the examples below.
Attached File(s)
File Type: mq4 4HHour Pivot Point.mq4   4 KB | 3,703 downloads


Attached File(s)
File Type: mq4 Daily Moving Pivot.mq4   5 KB | 2,099 downloads


Attached File(s)
File Type: mq4 Hourly Pivot Point.mq4   4 KB | 2,193 downloads
  • #6
  • Nov 14, 2008 7:58pm Nov 14, 2008 7:58pm
Quoting fmeetze
I also noticed another piece to the puzzle. One more line needs some modification:

Inserted Code
// this line
ii = iBarShift(NULL, timechart, iTime(NULL,0,(i + 1))) + 1
 
// needs to be
ii = iBarShift(NULL, timechart, iTime(NULL,0,i)) + 1;

I've Included all the examples below.
Attachment

Attachment

Attachment

fmeetze, I have no words to express my thanks for your help. Didnt expect anyone could help me with my issue. Again thank you very much, many pips to you. This forum should be proud of people like you.
  • #7
  • Sep 22, 2009 3:46pm Sep 22, 2009 3:46pm
I plotted the H4 pivots on my charts and they differ with +/- 10pips with the pivot calculators that I am using. To confirm I checked actionforex website and as well the number were different.
Don't be afraid your life will end; be afraid that it will never begin.
  • #8
  • Nov 17, 2011 9:30pm Nov 17, 2011 9:30pm
Hi fmeetze.

Is it possible if you can add settings like Width,Style? And i prefer if you could make this pivot point indicator horizontal? Your work is appreciated.

Regards
Riley
Attached File(s)
File Type: mq4 4HHour Pivot Point.mq4   4 KB | 1,429 downloads
"Think Different From The Masses"
  • #9
  • Edited 2:15pm Sep 17, 2014 12:56pm | Edited 2:15pm
Hello very interesting, I tested 4 months ago ago, performing backtesting MT4, Now however, the points do not move in the backtesting; what happens?
Attached Image(s) (click to enlarge)
Click to Enlarge Name: backtest.png Size: 30 KB
Click to Enlarge Name: backtest2.png Size: 47 KB
  • #10
  • Last Post: Jan 15, 2016 12:32pm Jan 15, 2016 12:32pm
Good example. Can anyone help me to find the 12 months or yearly pivot.
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