Hello, based on the Smart Money Concept, I would like to draw the Premium/Equilibrium/Discount zones on a Weekly, Daily, H4 and H1 basis, all displayed on a H1 chart (200 units).
With the indicator below, added Weekly, Daily, H4 and H1 on the same chart, I can see the weekly zones only when I display 50k units, which will slow the plateforme during trading hours.
The weekly Premium zone is around 4800pts and the Weekly Equilibrium zone is around 3500pts, which are not drawn on the H1 chart (200 units – graph2).
Is there a way to have all these zones on the H1 chart?
Thanks
//DEFPARAM CALCULATEONLASTBARS = 1000
//defparam drawonlastbaronly=true
TIMEFRAME(WEEKLY)
HiWeekly = highest[200](high) + 20
LoWeekly = lowest[200](low) - 20
TIMEFRAME(Weekly)
//---external parameters
cp = 20
once lastpoint = 0
ATR = averagetruerange[cp]
//---major zigzag points
if high[cp] >= highest[2*cp+1](high) then
LH = 1
else
LH = 0
endif
if low[cp] <= lowest[2*cp+1](low) then
LL = -1
else
LL = 0
endif
if LH = 1 then
TOPy = high[cp]
TOPx = barindex[cp]
endif
if LL = -1 then
BOTy = low[cp]
BOTx = barindex[cp]
endif
//---mino zigzag points
if high[round(cp/2)] >= highest[cp+1](high) then
LLH = 1
else
LLH = 0
endif
//
if low[round(cp/2)] <= lowest[cp+1](low) then
LLL = -1
else
LLL = 0
endif
//
if LLH = 1 then
LTOPy = high[round(cp/2)]
LTOPx = barindex[round(cp/2)]
endif
//
if LLL = -1 then
LBOTy = low[round(cp/2)]
LBOTx = barindex[round(cp/2)]
endif
//
/////////
//if LH>0 and (lastpoint=-1 or lastpoint=0) then
//DRAWTEXT("▼",TOPx,TOPy+ATR/2,Monospaced,Bold,20) coloured(200,0,0,255)
//lastpoint = 1
//endif
//if LLH>0 then
//DRAWTEXT("▽",LTOPx,LTOPy+ATR,Dialog,Bold,14) coloured(200,0,0,255)
//endif
//if LL<0 and (lastpoint=1 or lastpoint=0) then
//DRAWTEXT("▲",BOTx,BOTy-ATR/2,Monospaced,Bold,20) coloured(0,200,0,255)
//lastpoint = -1
//endif
//if LLL<0 then
//DRAWTEXT("△",LBOTx,LBOTy-ATR,Dialog,Bold,14) coloured(0,200,0,255)
//endif
///////////
// Definition Premium Zone
PremPointH = max(TOPy,LTOPy)
PremPointL = PremPointH -tr/3
PremiumTextPoint = (PremPointH+PremPointL)/2
// Definition Discount Zone
DiscountPointL = min(BOTy,LBOTy)
DiscountPointH = DiscountPointL +tr/3
DiscountTextPoint = (DiscountPointH+DiscountPointL)/2
// Definition Equilibrium Zone
EquiPoint = (PremPointH+DiscountPointL)/2
EquiPointH = EquiPoint + tr/4
EquiPointL = EquiPoint - tr/4
EquiTextPoint = EquiPoint
StartBox = min(TOPx-cp,BOTx-cp)
TextBar = (barindex+20000 + StartBox)/2
if IsLastBarUpdate then
DRAWRECTANGLE(StartBox, PremPointL, barindex+200000, PremPointH)coloured(200,0,0,50)bordercolor(200,0,0,255)
DRAWTEXT("Premium Weekly", TextBar, PremiumTextPoint)coloured(200,0,0,255)
DRAWRECTANGLE(StartBox, DiscountPointH, barindex+200000, DiscountPointL)coloured(0,200,0,50)bordercolor(0,200,0,255)
DRAWTEXT("Discount Weekly", TextBar, DiscountTextPoint)coloured(0,200,0,255)
DRAWRECTANGLE(StartBox, EquiPointH, barindex+200000, EquiPointL)coloured(128,128,128,50)bordercolor(128,128,128,255)
DRAWTEXT("Equilibrium Weekly", TextBar, EquiTextPoint)coloured(128,128,128,255)
endif
RETURN HiWeekly,LoWeekly