Hi,

Here is one interesting indicator I coded some time ago. It creates automatic trendlines + s/r levels based on given zigzag values. I think this is a great indicator (one of my own favourites).

I decided to share this after I noticed a similar one on "zigzag channels" and decided that what the heck, it's nice to share things

Enjoy!

Attached Images

auto_sr.gif (27.2 KB, 1994 views)

Attached Files

mikko_autosr.mq4 (3.8 KB, 551 views)

Look very nice.. but not work ?

Thanks !

PT

It should. What's the problem?

edit: just a quick point, you must have zigzag indicator, it uses it internally to calculate lines.

It working great for me, thank you very much mikkom

Attached Images

4.gif (20.2 KB, 1930 views)

Hi mikkom, you know what so funny?, last night i had the same idea as your! also with history lines and a bit more to it...

this is how my pictures looks like from last night...

if you already opened it, lets flow with it

Attached Images

	mano_zz dynamic breakout.gif (27.1 KB, 1940 views)
	mano_zz dynamic breakout (2).gif (29.1 KB, 1909 views)

__________________
Creativity is all you need, Its part of the BALANCE

very nice stuff mikkom...easy to eyeball SR...channel...wave & also fib ret & exp...

thnx alot

I still prefer drawing lines manually (you have plenty of time if you operate on hourly chars) but this kind of indicator is priceless when you don't notice some of the trendlines or sr levels, you can use this as a kind of map to check if there are any levels near the current price and then manually draw them if they seem significant.

If you want more lines, change historyLines parameter, if you want more combinations of lines between peaks, change lineCombinations parameter (it then uses peaks that are more distant from each other)

And if you want to mimic zigzag channels, change historyLines number to 1

Nice ind mikkom I like the trendlines logic in relation to price, and the SR is well placed. Probably the best trendline ind i have seen for Mt4.

Tell me please mikkom, do you open for some updates regarding the auto s/r indi? since i have few ideas that can help and will make it more flexible...

so this is what i have in mind,

*if the lines will start from the peaks it would be easer to spot which line belong to which peak when price hit it (like in my pic's)

*alert every time price hit s/r level

*option to Show ZZ on chart

*also it would be cool if this indi can be done as mtf

*also one more option to add is when price hit s/r level the line will come doted, this can help us to see the levels that were touched already

if you want some more ideas, i have tones of them

__________________
Creativity is all you need, Its part of the BALANCE

this one is great FIBSR...only wish i could add the other fibozones in different color..but it will allow only 2 top and 2 bottom..if anyone can get the other 1or 2 top and bottom fibo zones to fit that would be great..also works well with fibpiv.

youll see the math and you can make it show the other zones..just not all at the same time..or 2 indis with different math..will only do 1..wich blows..if anyone can play with it..that would be great..

Attached Files

	Fib SR.mq4 (3.3 KB, 150 views)
	Fib SR.ex4 (3.7 KB, 64 views)
	FiboPiv_v2.mq4 (4.6 KB, 108 views)
	FiboPiv_v2.ex4 (5.4 KB, 44 views)