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Bands and Channels

multiple EMAPine Script Description for Multiple EMA Values This Pine Script code calculates and plots multiple EMA (Exponential Moving Average) values for different time periods on a price chart. Each EMA represents the average price over a specified period, helping traders identify the overall price trend and momentum. Shorter-period EMAs respond faster to price changes, while longer-period EMAs show more stable trends. Basic Setup The script allows users to customize the period for each EMA, such as 9-day, 21-day, 50-day, and 200-day EMAs. Each EMA period is defined as an input parameter, making it flexible to adapt to various trading strategies. EMA Calculation The ta.ema() function is used to compute each EMA based on the specified period. The calculated EMAs are displayed on the chart in distinct colors, allowing traders to quickly see the trend for each period. Chart Display Using the plot() function, each EMA is plotted on the chart with a unique color and style, making it easy to differentiate between short-term and long-term trends. Additional Features EMA Crosses: When a shorter EMA crosses above a longer EMA, it can signal a buying opportunity. Conversely, a downward cross can signal a selling opportunity. The script can highlight these crossover points. Trend Confirmation: When all EMAs are moving upward, it indicates a strong upward trend; when all are moving downward, it indicates a strong downtrend. EMA Spacing Visualization: Wider spacing between EMAs can suggest increasing volatility, which can be useful for assessing risk.
Pine Script™ indicator
by misaka_10032
SystemAlpha MIXEsse indicador foi criado para ajudar a identificar facilmente quando um ativo (como ações ou criptomoedas) está em uma tendência de alta e quando essa tendência está prestes a terminar. Ele funciona da seguinte forma: Identificação da Tendência de Alta: O indicador usa uma combinação de médias móveis e o índice de força relativa (RSI) para verificar se o ativo está subindo de forma consistente. Quando detecta uma tendência de alta, ele marca no gráfico um alerta visual abaixo do preço, mostrando que o ativo está em alta. Sinal de Fim da Tendência: Quando a tendência de alta mostra sinais de enfraquecimento, o indicador avisa que a alta pode estar acabando. Neste momento, ele coloca um alerta visual acima do preço, indicando um possível fim da subida. Médias Móveis e Bandas de Bollinger: As linhas coloridas no gráfico representam médias móveis de diferentes períodos (10, 50 e 200), que ajudam a visualizar a direção geral do ativo. As Bandas de Bollinger, que envolvem o preço, mostram se o ativo está "espremido" (com pouca oscilação) ou se está se movendo com mais força. Supertrend: Esse recurso dá suporte adicional para entender se o preço ainda está em alta ou se pode estar revertendo. Este indicador é ideal para quem deseja visualizar rapidamente as tendências de alta e evitar ficar posicionado quando a alta acaba. É útil tanto para quem faz operações rápidas quanto para quem quer acompanhar o movimento de um ativo ao longo de um período maior.
Pine Script™ indicator
by jonathanfermag
Auto Support Resistance Confluence Zone(Demand Supply,Liquidity)Auto Support Resistance Confluence Zone (Demand Supply, Liquidity, Sideways, Stop Loss & Hidden Levels) This indicator is an all-in-one toolkit based on price action, Fibonacci ratios, and quantitative analysis, designed to identify Support/Resistance areas, Supply and Demand zones, Trendlines, Liquidity Zones, and Sideways Markets. It marks confluence zones at market open, providing high-accuracy insights for various markets, especially indices like NIFTY, BANKNIFTY, and commodities like Crude Oil and Natural Gas. Key Features: 1)Complete Market Structure Coverage: Detects Reversal, Breakout, and Sideways zones, offering guidance for trading decisions across different market phases. 2)Built-In Stop Loss & Target Logic: Automates Stop Loss and Target levels based on price action, supporting systematic risk management. 3)Leading Indicator with Market Opening Levels: Provides actionable levels from the start, making it useful for scalping and intraday strategies. 4)Noise-Reduced Levels: Helps reduce chart clutter, focusing on high-probability trade areas. 5)Consistent Across Timeframes: Levels apply across timeframes (1 min, 5 min, 15 min), adaptable for various trading styles. 6)Minimizes Overtrading: Focuses on high-probability zones to limit trade frequency. How It Works: Support/Resistance Zones: Designed to hold price and offer areas for potential bounce and reversal trades. Breakout Detection: Identifies both true and false breakouts to support trend-trading opportunities. Sideways Market Detection: Helps to identify low-volatility zones, avoiding entries in choppy conditions. This indicator is intended to support market analysis across multiple asset classes, offering clear confluence areas and setups to guide trade decision-making. Disclaimer: Please remember that past performance may not be indicative of future results. Due to various factors, including changing market conditions, the strategy may not perform as well as in historical backtesting. My scripts/indicators/ideas/algos/systems are for learning purposes only. The information provided does not constitute financial advice. All investments involve risk, and the past performance of a security, industry, sector, market, financial product, trading strategy, backtest, or individual’s trading does not guarantee future results or returns. Decisions should be based solely on an evaluation of one’s financial circumstances, investment objectives, risk tolerance, and liquidity needs.
Pine Script™ indicator
by finvestalgo
1
SX SR & MomentumThis script is a custom technical indicator for TradingView called "SX SR & Momentum" which combines support/resistance levels with enhanced momentum oscillation and a stochastic RSI. Here’s a breakdown of the script’s main components: 1. Core Calculations and Utility Functions Stochastic RSI: Combines RSI and stochastic calculations, creating a smoothed stochastic signal for overbought and oversold levels. Ehlers Super Smoother Filter: Smooths the stochastic output, reducing noise for a clearer trend. Momentum Calculation: This momentum oscillator uses the difference between two exponential moving averages (EMAs) to signal positive or negative trends. 2. Input Parameters Customizable inputs for: Smoothing values for K and D lines in the stochastic RSI. RSI length and stochastic length. Choice of a higher timeframe for the momentum oscillator (default: 240 min). 3. Plotting and Visual Enhancements Stochastic RSI: Plots K and D lines, colored for easy visualization, with overbought and oversold levels. Momentum Histogram: Plots a momentum oscillator with a 3D and glow effect for visual emphasis. Positive values are shown in green shades, and negative values in red shades, with a subtle glow effect to highlight stronger trends. Gradient Background: The overbought/oversold zones are visually enhanced with gradient backgrounds. 4. Timeframe Adjustment for Momentum Oscillator The script allows users to select a timeframe specifically for the momentum oscillator, enabling multi-timeframe analysis directly on the chart. This indicator could be useful for identifying momentum shifts, support and resistance levels, and potential overbought/oversold conditions with improved readability. The 3D and glow effects add a unique visual dimension, making it easier to interpret changes in momentum at a glance.
Pine Script™ indicator
by Simple_Xtrade
Hourly Breakout & Multi-Timeframe High/Low Indicator withDescription: This indicator combines powerful breakout and multi-timeframe analysis features, allowing traders to visualize key support and resistance levels across various timeframes (daily, weekly, monthly, hourly, and 4-hour highs and lows). It also dynamically colors candles based on hourly breakout conditions, making it easy to spot significant price movements and potential trading signals. Key Features: Customizable Multi-Timeframe High/Low Levels: Displays previous and current high/low levels for daily, weekly, and monthly timeframes, as well as previous hourly and 4-hour highs and lows. Each timeframe’s high/low lines are color-coded and can be toggled on or off based on user preference. Hourly Breakout Candle Coloring: Candle colors change when the hourly close breaks above or below the previous day's high or low, visually indicating important breakout conditions. User-configurable colors for candles that close above or below these breakout levels make this indicator highly customizable. Dynamic Line Plotting: Automatically updates and plots dotted lines for the previous day’s high and low levels, providing consistent visual cues for key support and resistance. This indicator is ideal for intraday and swing traders who want to keep an eye on important breakout levels and multi-timeframe support and resistance zones, all in one convenient tool. Whether you're trading trends, breakouts, or reversals, this indicator helps enhance decision-making with clear, color-coded signals and adaptable settings.
Pine Script™ indicator
by cmwilkin123
Original Keltner with Support And ResistanceThis indicator is based on the original Keltner Channels using typical price and calculating the 10 period average of high - low Typical price = (high + low + close)/3 In this case, I've taken Typical price as (open + high + low + close)/4 on the advice of John Bollinger from his book Bollinger on Bollinger Bands. Buy Line = 10 Period Typical Price Average + 10 Period Average of (High - Low) Sell Line = 10 Period Typical Price Average - 10 Period Average of (High - Low) This is the basis for the indicator. I've added the highest of the Buy Line and lowest of the Sell Line for the same period which acts as Support and Resistance. If price is trending below the Lowest of Sell Line, take only sell trades and the Lowest Line acts as resistance. If price is trending above the Highest of Buy Line, take only buy trades and the Highest Line acts as support.
Pine Script™ indicator
by achaggi
MMAPMarket Maker Aggression & Panic Here's how it works: Bollinger Bands: The script calculates and plots the Bollinger Bands, which helps you identify potential aggressive buying or panic selling when the price breaks above or below the bands. Volume Analysis: It checks for volume spikes compared to the average volume over a specified period. If the volume exceeds a defined threshold, the background color changes to orange, indicating a potential market maker reaction. Alerts: Alerts are set for volume spikes, aggressive buying (when the price breaks above the upper Bollinger Band), and panic selling (when it drops below the lower Bollinger Band). Feel free to customize the parameters to fit your trading style!
Pine Script™ indicator
by BluTradeScripts
Future Trend Channel [ChartPrime]The Future Trend Channel indicator is a dynamic tool for identifying trends and projecting future prices based on channel formations. The indicator uses SMA (Simple Moving Average) and volatility calculations to plot channels that visually represent trends. It also detects moments of lower momentum, indicated by neutral color changes in the channels, and projects future price levels for up to 50 bars ahead. ⯁ KEY FEATURES AND HOW TO USE ⯌ Dynamic Trend Channels : The indicator draws channels when a trend is identified. It uses a combination of SMA and volatility to determine the direction and strength of the trend. Each channel is visualized with a specific color, where green indicates an uptrend and orange represents a downtrend. Example of channels during uptrend and downtrend: ⯌ Momentum-Based Color Shifts : The indicator adapts its channel colors based on momentum changes. When the starting point (Y1) of a channel is higher than its ending point (Y2) during an uptrend, the channel turns neutral, indicating lower momentum and a possible ranging market. The same applies in a downtrend, where the channel turns neutral if Y1 is lower than Y2. Example of neutral momentum channels: ⯌ Future Price Projection : At the end of each channel, the indicator generates a projected future price based on the midpoint of the channel. By default, this projection is made 50 bars into the future, but users can adjust the number of bars to their preference. Example of future price projection: ⯌ Diamond Signals for Valid Trends : Lime-colored diamonds appear when an uptrend channel is confirmed, while orange diamonds indicate valid downtrend channels. These signals confirm the presence of a strong trend and help identify valid entry and exit points. Neutral channels, which indicate lower momentum, do not show diamond signals. Example of trend confirmation signals: ⯌ Customizable Settings : Users can adjust the channel length (how far back the trend is analyzed) and the width (which determines the channel boundaries based on volatility). The future price projection can also be customized to forecast further or fewer bars into the future. ⯁ USER INPUTS Trend Length : Sets the number of bars used to calculate the trend channels. Channel Width : Adjusts the width of the channels, based on volatility (ATR multiplier). Up and Down Colors : Allows customization of the colors used for uptrend and downtrend channels. Future Bars : Sets the number of bars used for future price projection. ⯁ CONCLUSION The Future Trend Channel indicator is a versatile tool for identifying and trading trends. With its ability to detect momentum shifts and project future prices, it provides traders with key insights for making more informed decisions. The use of diamond signals for trend validation adds an extra layer of confirmation, helping traders act with greater confidence during volatile or trending markets.
Pine Script™ indicator
by ChartPrime
16
Target Trend [BigBeluga]The Target Trend indicator is a trend-following tool designed to assist traders in capturing directional moves while managing entry, stop loss, and profit targets visually on the chart. Using adaptive SMA bands as the core trend detection method, this indicator dynamically identifies shifts in trend direction and provides structured exit points through customizable target levels. SP500: 🔵 IDEA The Target Trend indicator’s concept is to simplify trade management by providing automated visual cues for entries, stops, and targets directly on the chart. When a trend change is detected, the indicator prints an up or down triangle to signal entry direction, plots three customizable target levels for potential exits, and calculates a stop-loss level below or above the entry point. The indicator continuously adapts as price moves, making it easier for traders to follow and manage trades in real time. When price crosses a target level, the label changes to a check mark, confirming that the target has been achieved. Similarly, if the stop-loss level is hit, the label changes to an "X," and the line becomes dashed, indicating that the stop loss has been activated. This feature provides traders with a clear visual trail of whether their targets or stop loss have been hit, allowing for easier trade tracking and exit strategy management. 🔵 KEY FEATURES & USAGE SMA Bands for Trend Detection: The indicator uses adaptive SMA bands to identify the trend direction. When price crosses above or below these bands, a new trend is detected, triggering entry signals. The entry point is marked on the chart with a triangle symbol, which updates with each new trend change. Automated Targets and Stop Loss Management: Upon a new trend signal, the indicator automatically plots three price targets and a stop loss level. These levels provide traders with structured exit points for potential gains and a clear risk limit. The stop loss is placed below or above the entry point, depending on the trend direction, to manage downside risk effectively. Visual Target and Stop Loss Validation: As price hits each target, the label beside the level updates to a check mark, indicating that the target has been reached. Similarly, if the stop loss is activated, the stop loss label changes to an "X," and the line becomes dashed. This feature visually confirms whether targets or stop losses are hit, simplifying trade management. The indicator also marks the entry price at each trend change with a label on the chart, allowing traders to quickly see their initial entry point relative to current price and target levels. 🔵 CUSTOMIZATION Trend Length: Set the lookback period for the trend-detection SMA bands to adjust the sensitivity to trend changes. Targets Setting: Customize the number and spacing of the targets to fit your trading style and market conditions. Visual Styles: Adjust the appearance of labels, lines, and symbols on the chart for a clearer view and personalized layout. 🔵 CONCLUSION The Target Trend indicator offers a streamlined approach to trend trading by integrating entry, target, and stop loss management into a single visual tool. With automatic tracking of target levels and stop loss hits, it helps traders stay focused on the current trend while keeping track of risk and reward with minimal effort.
Pine Script™ indicator
by BigBeluga
12
VWAP Stdev Bands Strategy (Long Only)The VWAP Stdev Bands Strategy (Long Only) is designed to identify potential long entry points in trending markets by utilizing the Volume Weighted Average Price (VWAP) and standard deviation bands. This strategy focuses on capturing upward price movements, leveraging statistical measures to determine optimal buy conditions. Key Features: VWAP Calculation: The strategy calculates the VWAP, which represents the average price a security has traded at throughout the day, weighted by volume. This is an essential indicator for determining the overall market trend. Standard Deviation Bands: Two bands are created above and below the VWAP, calculated using specified standard deviations. These bands act as dynamic support and resistance levels, providing insight into price volatility and potential reversal points. Trading Logic: Long Entry Condition: A long position is triggered when the price crosses below the lower standard deviation band and then closes above it, signaling a potential price reversal to the upside. Profit Target: The strategy allows users to set a predefined profit target, closing the long position once the specified target is reached. Time Gap Between Orders: A customizable time gap can be specified to prevent multiple orders from being placed in quick succession, allowing for a more controlled trading approach. Visualization: The VWAP and standard deviation bands are plotted on the chart with distinct colors, enabling traders to visually assess market conditions. The strategy also provides optional plotting of the previous day's VWAP for added context. Use Cases: Ideal for traders looking to engage in long-only positions within trending markets. Suitable for intraday trading strategies or longer-term approaches based on market volatility. Customization Options: Users can adjust the standard deviation values, profit target, and time gap to tailor the strategy to their specific trading style and market conditions. Note: As with any trading strategy, it is important to conduct thorough backtesting and analysis before live trading. Market conditions can change, and past performance does not guarantee future results.
Pine Script™ strategy
by qamberabbas4
Previous 4-Hour and Previous Hourly High/LowDescription: This script is designed to help traders identify recent support and resistance levels by displaying the Previous 4-Hour and Previous Hourly High/Low prices on the chart. By tracking the highs and lows of both the last completed 4-hour and hourly candles, this indicator provides a clear view of price action on short-term timeframes, useful for intraday analysis. Functionality: Previous 4-Hour High and Low: The script captures the highest and lowest prices of the last fully closed 4-hour candle, updating these levels at the beginning of each new 4-hour period. Previous Hourly High and Low: Similarly, it records the high and low of the most recent completed hourly candle, refreshing at the start of each hour. How to Use: With these levels displayed, traders can quickly spot areas of potential support and resistance, making this tool valuable for gauging short-term price action trends. The indicator is especially useful for those trading within shorter timeframes, such as scalpers or day traders, who benefit from knowing where prices have recently ranged. The Previous 4-Hour High/Low is marked with Green and Red lines, while the Previous Hourly High/Low uses Blue and Orange lines, making each timeframe’s levels easily distinguishable. This script offers a simple yet powerful addition to short-term trading setups, giving traders multi-timeframe insights to inform their trading decisions.
Pine Script™ indicator
by cmwilkin123
The Ultimate ATR-BBW Market Volatility Indicator"The ATR-BBW Market Volatility Indicator combines the Average True Range (ATR) and Bollinger Bands Width (BBW) to provide a measure of market volatility. This indicator does not indicate bullish or bearish trends, but rather the magnitude of price fluctuations. * Usage: When the indicator moves upward, it suggests increasing market volatility, indicating that prices are moving within a wider range. Conversely, a downward movement implies decreasing volatility, signifying that prices are moving within a narrower range. * Note: This sub-indicator solely reflects market volatility and does not provide buy or sell signals. Investing involves risk. Please conduct thorough research before making any investment decisions. ATR and BBW Explained: * Average True Range (ATR): ATR is a technical analysis indicator used to measure market volatility. It calculates the average of a series of true ranges, where the true range is the greatest of the following: * The current high minus the current low * The absolute value of the current high minus the previous close * The absolute value of the current low minus the previous close * A higher ATR value indicates higher volatility, while a lower value suggests lower volatility. * Bollinger Bands Width (BBW): Bollinger Bands are plotted two standard deviations above and below a simple moving average. BBW measures the distance between the upper and lower bands. A wider BBW indicates higher volatility, as prices are moving further away from the moving average. Conversely, a narrower BBW suggests lower volatility. Combining ATR and BBW: By combining ATR and BBW, the ATR-BBW indicator provides a more comprehensive view of market volatility. ATR captures the overall volatility of the market, while BBW measures the volatility relative to the moving average. Together, they provide a more robust indicator of market conditions and can be used to identify potential trading opportunities. Why ATR and BBW are Effective for Measuring Volatility: * ATR directly measures the actual price movement, regardless of the direction. * BBW shows how much prices are deviating from their average, indicating the strength of the current trend. * Combined: By combining these two measures, the ATR-BBW indicator provides a more comprehensive and accurate assessment of market volatility. In essence, the ATR-BBW indicator helps traders understand the magnitude of price fluctuations, allowing them to make more informed trading decisions.
Pine Script™ indicator
by da_ji_ba
PTS - Bollinger Bands with Trailing StopPTS - Bollinger Bands with Trailing Stop Strategy Overview The "PTS - Bollinger Bands with Trailing Stop" strategy is designed to capitalize on strong bullish market movements by combining the Bollinger Bands indicator with a dynamic trailing stop based on the Average True Range (ATR). This strategy aims to enter long positions during upward breakouts and protect profits through an adaptive exit mechanism. Key Features 1. Bollinger Bands Indicator Basis Moving Average Type: Choose from SMA, EMA, SMMA, WMA, or VWMA for the Bollinger Bands' basis line. Length: Adjustable period for calculating the moving average and standard deviation (default is 20). Standard Deviation Multiplier (StdDev): Determines the width of the bands (default is 2.0). Source: Select the price data used for calculations (default is the closing price). 2. Entry Conditions The strategy enters a long position when the closing price crosses above the upper Bollinger Band , indicating strong upward momentum. 3. Exit Conditions Trailing Stop Loss: Implemented using ATR to adjust dynamically with market volatility. ATR Length: Period for calculating ATR (default is 14). ATR Multiplier for Trailing Stop: Determines how closely the trailing stop follows the price (default is 2.0). Close Below Lower Bollinger Band: The strategy exits the long position if the closing price crosses below the lower Bollinger Band . 4. Risk Management Commission and Slippage: Commission is set at 0.1%; slippage is set to 3. Position Sizing: Uses 100% of equity per trade (adjustable). 5. Date Range Filter Specify the time period during which the strategy is active. Start Date: January 1, 2018. End Date: December 31, 2069. Customizable Inputs BB Length: Adjust the period for Bollinger Bands calculation. BB StdDev: Modify the standard deviation multiplier. Basis MA Type: Select the moving average type. Source: Choose the price data source. Offset: Shift the Bollinger Bands on the chart. ATR Length: Set the period for ATR calculation. ATR Multiplier for Trailing Stop: Adjust the trailing stop sensitivity. Thought for 1m 7s Description for the "PTS - Bollinger Bands with Trailing Stop" Strategy PTS - Bollinger Bands with Trailing Stop Strategy Overview The "PTS - Bollinger Bands with Trailing Stop" strategy is designed to capitalize on strong bullish market movements by combining the Bollinger Bands indicator with a dynamic trailing stop based on the Average True Range (ATR). This strategy aims to enter long positions during upward breakouts and protect profits through an adaptive exit mechanism. Key Features 1. Bollinger Bands Indicator Basis Moving Average Type: Choose from SMA, EMA, SMMA, WMA, or VWMA for the Bollinger Bands' basis line. Length: Adjustable period for calculating the moving average and standard deviation (default is 20). Standard Deviation Multiplier (StdDev): Determines the width of the bands (default is 2.0). Source: Select the price data used for calculations (default is the closing price). 2. Entry Conditions The strategy enters a long position when the closing price crosses above the upper Bollinger Band , indicating strong upward momentum. 3. Exit Conditions Trailing Stop Loss: Implemented using ATR to adjust dynamically with market volatility. ATR Length: Period for calculating ATR (default is 14). ATR Multiplier for Trailing Stop: Determines how closely the trailing stop follows the price (default is 2.0). Close Below Lower Bollinger Band: The strategy exits the long position if the closing price crosses below the lower Bollinger Band . 4. Risk Management Commission and Slippage: Commission is set at 0.1%; slippage is set to 3. Position Sizing: Uses 100% of equity per trade (adjustable). 5. Date Range Filter Specify the time period during which the strategy is active. Start Date: January 1, 2018. End Date: December 31, 2069. Customizable Inputs BB Length: Adjust the period for Bollinger Bands calculation. BB StdDev: Modify the standard deviation multiplier. Basis MA Type: Select the moving average type. Source: Choose the price data source. Offset: Shift the Bollinger Bands on the chart. ATR Length: Set the period for ATR calculation. ATR Multiplier for Trailing Stop: Adjust the trailing stop sensitivity. How the Strategy Works 1. Initialization Calculates Bollinger Bands and ATR based on selected parameters. 2. Entry Logic Opens a long position when the closing price exceeds the upper Bollinger Band. 3. Exit Logic Uses a trailing stop loss based on ATR. Exits if the closing price drops below the lower Bollinger Band. 4. Date Filtering Executes trades only within the specified date range. Advantages Adaptive Risk Management: Trailing stop adjusts to market volatility. Simplicity: Clear entry and exit signals. Customizable Parameters: Tailor the strategy to different assets or conditions. Considerations Aggressive Position Sizing: Using 100% equity per trade is high-risk. Market Conditions: Best in trending markets; may produce false signals in sideways markets. Backtesting: Always test on historical data before live trading. Disclaimer This strategy is intended for educational and informational purposes only. Trading involves significant risk, and past performance is not indicative of future results. Assess your financial situation and consult a financial advisor if necessary. Usage Instructions 1. Apply the Strategy: Add it to your TradingView chart. 2. Configure Inputs: Adjust parameters to suit your style and asset. 3. Analyze Backtest Results: Use the Strategy Tester. 4. Optimize Parameters: Experiment with input values. 5. Risk Management: Evaluate position sizing and incorporate risk controls. Final Notes The "PTS - Bollinger Bands with Trailing Stop" strategy provides a framework to leverage momentum breakouts while managing risk through adaptive trailing stops. Customize and test thoroughly to align with your trading objectives.
Pine Script™ strategy
by posido
1
Uphorico Candle RangesThis script allows you to see the high and low prices of a specific previous timeframe directly on your TradingView chart. You can choose which previous period to view—previous month, week, day, or last Monday—and the script will plot two horizontal lines for the high and low prices of that period. These lines help you quickly identify key levels based on past performance. Features of the Script: 1. Select Previous Timeframe: You can choose between: • Month: Shows the high and low of the previous month. • Week: Shows the high and low of the previous week. • Day: Shows the high and low of the previous day. • Monday: Shows the high and low of the most recent Monday. 2. Line Customization: • Color: Choose different colors for the high and low lines. • Thickness: Adjust the line thickness (1–5). • Style: Choose from solid, dashed, or dotted lines. 3. Touch Source Candle Option: • If enabled, the lines will start directly at the last candle of the selected timeframe (e.g., at the last candle of the previous month or week). • If disabled, the lines will start from the current bar and extend to the right. How It Works: • The script retrieves the high and low prices from your selected previous timeframe and draws two horizontal lines (one for the high and one for the low). • These lines provide a quick visual reference for key support and resistance levels based on past periods, making it easier to spot potential price action zones. This tool is designed to be simple and customizable, helping you analyze past levels and make better trading decisions.
Pine Script™ indicator
by Uphorico