PROTECTED SOURCE SCRIPT
Gann Levels by Acharya Ji
This Pine Script indicator is designed to help traders quickly identify **key intraday levels** based on the **first candle of the trading day**. It performs three main functions:
1. **Marks the First Candle’s High and Low**
- Blue circles are plotted at the high and low of the first candle each day.
- These serve as the baseline reference points for calculating targets.
2. **Plots Upside Targets (Green Lines)**
- Six horizontal green lines are drawn above the first candle’s high.
- Each line represents a percentage increment: **+0.09%, +0.18%, +0.36%, +0.72%, +1.44%, +2.88%**.
- These levels act as potential resistance or profit-taking zones.
3. **Plots Downside Targets (Red Lines)**
- Six horizontal red lines are drawn below the first candle’s low.
- Each line represents a percentage decrement: **-0.09%, -0.18%, -0.36%, -0.72%, -1.44%, -2.88%**.
- These levels act as potential support or stop-loss zones.
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Purpose
- Provides a **structured intraday roadmap** based on the first candle.
- Helps traders visualize **target ladders** both above and below the market.
- Useful for scalpers, intraday traders, and strategy testing around **breakouts or reversals**.
---
👉 Rahul, would you like me to also add **labels (like +0.09%, -0.18%)** directly on the chart next to each line so you can instantly recognize which target level is which without checking the legend?
1. **Marks the First Candle’s High and Low**
- Blue circles are plotted at the high and low of the first candle each day.
- These serve as the baseline reference points for calculating targets.
2. **Plots Upside Targets (Green Lines)**
- Six horizontal green lines are drawn above the first candle’s high.
- Each line represents a percentage increment: **+0.09%, +0.18%, +0.36%, +0.72%, +1.44%, +2.88%**.
- These levels act as potential resistance or profit-taking zones.
3. **Plots Downside Targets (Red Lines)**
- Six horizontal red lines are drawn below the first candle’s low.
- Each line represents a percentage decrement: **-0.09%, -0.18%, -0.36%, -0.72%, -1.44%, -2.88%**.
- These levels act as potential support or stop-loss zones.
---
Purpose
- Provides a **structured intraday roadmap** based on the first candle.
- Helps traders visualize **target ladders** both above and below the market.
- Useful for scalpers, intraday traders, and strategy testing around **breakouts or reversals**.
---
👉 Rahul, would you like me to also add **labels (like +0.09%, -0.18%)** directly on the chart next to each line so you can instantly recognize which target level is which without checking the legend?
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.