OPEN-SOURCE SCRIPT
Naked - Daily Weekly Monthly
Updated
User request for Naked Daily Weekly Monthly Opens.
This indicator plots the Daily Weekly Opens (the day after day after creation), they then will stay on the chart until a candle close is completed on the other side of the plot.
In the above chart picture you can see how previous monthly and daily opens have acted as support and resistance.
Thanks go to:
StackOverFlow Bjorn Mistiaen
This indicator plots the Daily Weekly Opens (the day after day after creation), they then will stay on the chart until a candle close is completed on the other side of the plot.
In the above chart picture you can see how previous monthly and daily opens have acted as support and resistance.
Thanks go to:
StackOverFlow Bjorn Mistiaen
Release Notes
Disclaimer This indicator works on the daily timeframe and below.
To pick up all naked lines move the chart back in time and then back to current price action.
Release Notes
Update:User request for different line style options.
User can now change the line style from solid to dashed or dotted.
Release Notes
Error highlighted by user in comments. Code updated to resolve issue.
Release Notes
Script update:The script will now show totally Naked and Partially Naked Daily / Weekly / Monthly opens.
When looking back a previous price action keeping the partially Naked Opens as an option looks like a promising level for Technical Analysis.
Totally Naked = No price action breaks the level.
Partially Naked = Either the close or the open candles (Timeframe dependent) has not occurred below or above the level (dependent on Price Action to the level above or below).
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.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.