PROTECTED SOURCE SCRIPT
TradingBee Supp & Resis
TradingBee Untapped S&R [MTF]
1. Core Concept
This indicator is designed to identify "Fresh" or "Untapped" institutional order blocks. It operates on the theory that significant market reversals often occur at precise price points where the Close of one candle perfectly matches the Open of the next.
When price reverses exactly at a specific level (without overlap), it indicates a strong rejection. This level remains valid (fresh) until the price returns to test it. Once tested, the level is considered "consumed" and is removed from the chart.
2. How It Works (The Logic)
The indicator scans historical and real-time data for a specific Reversal Pattern:
Bearish Reversal (Resistance):
Previous Candle was Bullish (Green).
Current Candle is Bearish (Red).
Crucial Condition: The Close of the Green candle is equal to the Open of the Red candle (within your set tolerance).
Result: A Red line is drawn at this price.
Bullish Reversal (Support):
Previous Candle was Bearish (Red).
Current Candle is Bullish (Green).
Crucial Condition: The Close of the Red candle is equal to the Open of the Green candle.
Result: A Green line is drawn at this price.
3. Key Features
Infinite "Untapped" Lines: The lines extend infinitely to the right side of the chart, allowing you to see levels created days or weeks ago that have not yet been revisited.
Auto-Deletion (Smart Cleaning): As soon as the price (High or Low) touches a line, the indicator detects that the liquidity has been "tapped." The line immediately deletes itself to keep your chart clean and focused only on fresh opportunities.
Multi-Timeframe (MTF) Capability: You can lock the indicator to a higher timeframe (e.g., 4 Hours) while watching a lower timeframe (e.g., 15 Minutes). This allows you to trade intraday fluctuations while remaining aware of major swing levels.
Visuals:
You can customize the Line Color and Width.
Label Settings: Choose if you want the text to appear Above, Below, or On the line, and whether it should follow the price or stay fixed.
1. Core Concept
This indicator is designed to identify "Fresh" or "Untapped" institutional order blocks. It operates on the theory that significant market reversals often occur at precise price points where the Close of one candle perfectly matches the Open of the next.
When price reverses exactly at a specific level (without overlap), it indicates a strong rejection. This level remains valid (fresh) until the price returns to test it. Once tested, the level is considered "consumed" and is removed from the chart.
2. How It Works (The Logic)
The indicator scans historical and real-time data for a specific Reversal Pattern:
Bearish Reversal (Resistance):
Previous Candle was Bullish (Green).
Current Candle is Bearish (Red).
Crucial Condition: The Close of the Green candle is equal to the Open of the Red candle (within your set tolerance).
Result: A Red line is drawn at this price.
Bullish Reversal (Support):
Previous Candle was Bearish (Red).
Current Candle is Bullish (Green).
Crucial Condition: The Close of the Red candle is equal to the Open of the Green candle.
Result: A Green line is drawn at this price.
3. Key Features
Infinite "Untapped" Lines: The lines extend infinitely to the right side of the chart, allowing you to see levels created days or weeks ago that have not yet been revisited.
Auto-Deletion (Smart Cleaning): As soon as the price (High or Low) touches a line, the indicator detects that the liquidity has been "tapped." The line immediately deletes itself to keep your chart clean and focused only on fresh opportunities.
Multi-Timeframe (MTF) Capability: You can lock the indicator to a higher timeframe (e.g., 4 Hours) while watching a lower timeframe (e.g., 15 Minutes). This allows you to trade intraday fluctuations while remaining aware of major swing levels.
Visuals:
You can customize the Line Color and Width.
Label Settings: Choose if you want the text to appear Above, Below, or On the line, and whether it should follow the price or stay fixed.
Script protetto
Questo script è pubblicato come codice protetto. Tuttavia, è possibile utilizzarle liberamente e senza alcuna limitazione – ulteriori informazioni qui.
Declinazione di responsabilità
Le informazioni e le pubblicazioni non sono intese come, e non costituiscono, consulenza o raccomandazioni finanziarie, di investimento, di trading o di altro tipo fornite o approvate da TradingView. Per ulteriori informazioni, consultare i Termini di utilizzo.
Script protetto
Questo script è pubblicato come codice protetto. Tuttavia, è possibile utilizzarle liberamente e senza alcuna limitazione – ulteriori informazioni qui.
Declinazione di responsabilità
Le informazioni e le pubblicazioni non sono intese come, e non costituiscono, consulenza o raccomandazioni finanziarie, di investimento, di trading o di altro tipo fornite o approvate da TradingView. Per ulteriori informazioni, consultare i Termini di utilizzo.