I need and experienced and creative Metatrader 4 developer to create a multi-timeframe support/resistance indicator. Here are the requirements:
1. The indicator draws rectangles on the chart that show the support and resistance zones. The definition of a zone is quite simple. For support, the start (or the x coordinate on the left) of the rectangle is the down bar before an up bar (please note an up bar is defined as having a close higher than the close of the prior bar, and vice versa for down bar). The upper y coordinate of the rectangle is the close of the down bar, and the lower y is either the low of the down bar or the low of the up bar, whichever is the lowest. The right side of the rectangle ends at a down bar when the close is lower than the bottom of the rectangle. For resistance zone, the definition of the rectangle is the reverse of the support zone's.
2. I understand there will be overlaps of the rectangles of the same type (ie. support rectangles overlap each other). I think a color gradient to represent the degree of overlaps could be used. Your opinion is appreciated.
3. For each rectangle, please add the price of the top and bottom to the right of the rectangle.
4. Regarding multi-timeframe, I would like to see the support/resistance zones of one or more higher timeframe on the chart (eg. D1 and H1 S/R zones on M5 chart).
5. User inputs include:
a. Number of bars to look back
b. Support zone main color
c. Resistance zone main color
d. Choice of higher time frames (one or more TF as note above)
f. Others (please advise)
The job needs to be completed within 1 week.
I am thinking of using these support/resistance zones to develop a custom trend equilibrium indicator. This would be the a new project :) If you are interested please let me know.
Thanks for your interest.