Bank Level indicator

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12/29/2017 at 5:14 PM #56825 quote
BiggestNoob
Participant

New
Hi All,

I came across Paul Langham’s channel on You tube and in it he mentioned an indicator than draws in lines which he says the banks ‘trade’ at (I.e they often make a move at).

Basically it seems to consist of the highs and lows for the last :-

10 weeks

10 Months

10 Quarters

10 Years

I am not a coder which can be seen from my daily level effort which I have attached.
```
x = i
for i = 1 to 10 do
next

a = DHigh(x)
b = DLow(x)

DRAWHLINE(a)
DRAWHLINE(b)

return
```
It doesnt seem to work as intended :o(

Can someone give me some direction? I tried to substitue Dhigh for Month[high] and it said it expected a positive value?

Regards

BN
01/03/2018 at 6:34 PM #57166 quote
Nicolas
Keymaster

Master
I just made this rough code for this purpose, it only calculates the last 10 weeks and 10 months highest high and lowest low, not tested but should be ok.

I’ll try to add the other levels later, time to rest a bit now 🙂
```
Once lastWeekBarIndex = 0
Once weeklyHigh = undefined
Once weeklyLow = undefined

Once lastMonthBarIndex = 0
Once monthlyHigh = undefined
Once monthlyLow = undefined

If DayOfWeek<DayOfWeek[1] then
countw=countw+1
weeklyHigh = Highest[BarIndex - lastWeekBarIndex](High)[1]
weeklyLow = Lowest[BarIndex - lastWeekBarIndex](Low)[1]
lastWeekBarIndex = BarIndex

hhw=max(hhw,weeklyhigh)
llw=min(llw,weeklylow)

if countw=10 then 
weeks10hi = hhw
weeks10lo = llw
hhw = 0
llw = close*1000
countw = 0
endif
Endif

If Month<>Month[1] then
countm=countm+1
monthlyHigh = Highest[BarIndex - lastMonthBarIndex](High)[1]
monthlyLow = Lowest[BarIndex - lastMonthBarIndex](Low)[1]
lastMonthBarIndex = BarIndex

hhm=max(hhm,monthlyhigh)
llm=min(llm,monthlylow)

if countm=10 then
months10hi = hhm
months10lo = llm
hhm = 0
llm = close*1000
countm=0
endif
Endif


Return weeks10hi as "10 weeks high", weeks10lo as "10 weeks low", months10hi as "10 months high", months10lo as "10 months low"
```
10-weeks-and-10-months-high-low.png
01/04/2018 at 4:31 PM #57259 quote

BiggestNoob
Participant

New

Cheers Nicolas,

I will have a play around with it when I get in tonight

08/30/2018 at 7:36 PM #79429 quote

hairless414
Participant

New

how do i use the code? copy paste in mt4 ? also how to code for yearly and quaterly

08/31/2018 at 9:21 PM #79489 quote

Vonasi
Moderator

Master

hairless414 wrote:

how do i use the code? copy paste in mt4 ? also how to code for yearly and quaterly

The code is for use with ProRealTime only. This is a forum dedicated to ProRealTime code – it is not a place to find MQ4 code solutions.

11/22/2019 at 3:33 PM #113428 quote

jandehaas
Participant

Junior

Hello Nicolas,

I am also interested in this indicator,I tried to install it but it does not seem to work,could you test it ?

Thank you,

Jan

11/22/2019 at 5:16 PM #113431 quote

Vonasi
Moderator

Master

Did you add it to the price chart via the wrench in the top left corner?

11/22/2019 at 7:11 PM #113444 quote

jandehaas
Participant

Junior

I tried that too but it gives me the same error notice,I attached a screen shot …

Banklevels-screen-shot-copy.jpg

11/22/2019 at 8:16 PM #113449 quote

Vonasi
Moderator

Master

Sorry but that screen shot is not clear enough to read. I just cut and pasted Nicolas’ code into a new indicator and it works fine. What instrument and time frame are you applying it to so that everyone else can try to get the same error?

11/23/2019 at 12:14 AM #113457 quote
robertogozzi
Moderator

Master
It seems there’s a wrong value within brackets with HIGHEST and LOWEST.

Try using
```
[max(1,BarIndex - lastWeekBarIndex)]
```
at lines 11-12, and
```
[max(1,BarIndex - lastMonthBarIndex)]
```
at lines 29-30.
11/23/2019 at 8:25 AM #113463 quote
Vonasi
Moderator

Master
Perhaps it is trying to get the values on the first bar of a chart (barindex = 0) so that would create a negative value in the HIGHEST and LOWEST brackets. So you could just enclose the main code within the following IF THEN ENDIF to avoid this:
```
Once lastWeekBarIndex = 0
Once weeklyHigh = undefined
Once weeklyLow = undefined

Once lastMonthBarIndex = 0
Once monthlyHigh = undefined
Once monthlyLow = undefined

if barindex > 0 then

If DayOfWeek<DayOfWeek[1] then
countw=countw+1
weeklyHigh = Highest[BarIndex - lastWeekBarIndex](High)[1]
weeklyLow = Lowest[BarIndex - lastWeekBarIndex](Low)[1]
lastWeekBarIndex = BarIndex

hhw=max(hhw,weeklyhigh)
llw=min(llw,weeklylow)

if countw=10 then 
weeks10hi = hhw
weeks10lo = llw
hhw = 0
llw = close*1000
countw = 0
endif
Endif

If Month<>Month[1] then
countm=countm+1
monthlyHigh = Highest[BarIndex - lastMonthBarIndex](High)[1]
monthlyLow = Lowest[BarIndex - lastMonthBarIndex](Low)[1]
lastMonthBarIndex = BarIndex

hhm=max(hhm,monthlyhigh)
llm=min(llm,monthlylow)

if countm=10 then
months10hi = hhm
months10lo = llm
hhm = 0
llm = close*1000
countm=0
endif
Endif

endif

Return weeks10hi as "10 weeks high", weeks10lo as "10 weeks low", months10hi as "10 months high", months10lo as "10 months low"
```
06/03/2020 at 3:06 PM #134412 quote

tobytarczy
Participant

New

Hi

I think there is a lot more to these levels than meets the eye. From my understanding these levels include a number of variables that help to define the level itself, such as, how recent has the level been hit, if the market goes through the level, which would be a negative score, volume or number of transactions at the level, etc. this is based on an indicator I have used on MT4 where this was the case. I think what Paul Langham has developed is similar to the tool, maybe more advanced.

I would love to have such an indicator as it is really helpful in setting up a trade in determining stops and targets. If someone knows how to get this in PRT that would be great.

Toby

06/03/2020 at 4:30 PM #134432 quote

Nicolas
Keymaster

Master

Please define the ways to calculate those levels and maybe someone would code it? Math formulas are appreciated, thanks.

06/03/2020 at 4:45 PM #134435 quote

tobytarczy
Participant

New

Hi, Let me see if I can get the details you need from my source. Many thanks
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