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OPEN-SOURCE SCRIPT

Rumpy's Murrey Math Lines & VWAPs - (pine v4)

By rumpypumpydumpy
Wizard
Updated
Murrey Math lines based on weekly closes plus VWAP and pine v4 goodies. Options for adjusting label visibility and disabling vwaps individually.

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With only MMLs :

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Release Notes
  • Added fix for use on lower TFs
  • Added option to mark weekly intervals with background color
  • Added weekly close prices to info panel


To use on lower timeframes such as 3m, first go to a higher TF (15m, 1h, etc) and copy down the weekly close prices listed in the info panel.

Then enter the values into the indicator options and enable the manual setting. This will allow you to generate identical Murrey Lines that appear on higher TFs on lower TFs that don't have historical data available far back enough to do the calculations.

It will however ONLY generate the correct lines for the CURRENT week. They will appear across the entire chart, however they are ONLY valid back to the beginning of the current weekly interval (use the indicator option to mark the chart location).
Release Notes
Small tweak so manual closes are plotted and labelled
Release Notes
Added some basic methods to predict future Murrey Lines. Uses the new pine 4 line functions. Under certain conditions it can be accurate.

include current close : will be roughly accurate if current weekly closes near the current close, will be mostly useful near the end of the current week.
previous 3 weeks only : if ranging and weekly is expected to close within the last 3 week's close range
custom : if you have other TA for S/R you could approximate the likely Murrey Lines based on the highest/lowest of the previous 3 weeks and your S/R levels

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Moving AveragesmurreymathmurreymathlinesTrend Analysis

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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rumpypumpydumpy
Wizard

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