OPEN-SOURCE SCRIPT
Opening Trend Bounce
Updated
Custom indicator that helps me with bounce plays. This indicator plots lines based on ATR; a line is added at every 25% of an ATR. The shaded columns at the beginning of the day are time based bounce zones; stocks that bounce, typically do so within those zones.
Release Notes
Cleaned up code, and removed unused code that was commented out.Release Notes
Added a better example chart, to show the usefulness of the indicator. Open-source script
In true TradingView spirit, the author of this script has published it open-source, so traders can understand and verify it. Cheers to the author! You may use it for free, but reuse of this code in publication is governed by House rules. You can favorite it to use it on a chart.
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