Golden Setup V1

29 apr

Golden Setup V1 is an overlay indicator that automates Tony Rago’s “Golden Setup” price-level framework. It divides the chart into fixed “blockSize” intervals (default 100 points) and plots a series of key horizontal levels within each block—levels at 00, 12, 26, 33, 50, 62, 77 and 88 offsets. These levels act as dynamic support and resistance grids that roll up or down as price moves between blocks.

Key Features

Customizable Offsets
Define eight offset levels corresponding to Rago’s Golden Setup:

00 (Round Number)

12 (Target 12)

26 (First “Golden” level)

33 (Target 33)

50 (Mid-block pivot)

62 (Target 62)

77 (Second “Golden” level)

88 (Target 88)

Multi-Block Coverage
Choose how many blocks above and below the current 100-point block you wish to display, so you always have levels drawn for the surrounding price range.

Golden-Only Filter
A handy toggle lets you show only the two “Golden” offsets (26 & 77), which many traders prioritize for high-probability bounce or breakout areas.

Dynamic Nearest-Level Label
Highlights the closest Golden Setup level (to the right edge of the chart) with a movable label, so you always know which level price is approaching.

Full Styling Control
Customize line colors, widths, block size, label fonts and opacity to suit your charting style.

How It Works

Block Calculation
On each bar, the indicator computes the “current block” by flooring (close / blockSize) and multiplying back by blockSize.

Level Offsets
It adds each of the eight user-defined offsets to that block base (and, if price has moved below the lowest offset, shifts the block down one interval).

Drawing
Each level is drawn as a horizontal line extending across the chart for as many blocks above/below as you select.

Nearest-Level Detection
Within the present block, it calculates which of the plotted levels is closest to price and displays that value on the right edge.

Usage Tips

Use the Golden-Only filter to declutter and focus solely on the 26 & 77 levels, which often act as strong intra-block pivot points.

Combine with volume or momentum indicators to confirm bounces at these levels.

Adjust blockSize (e.g. 50 or 200) if you wish to work in smaller or larger price increments.

⚠️ Disclaimer: This script is for educational and illustrative purposes only. Trading involves risk—always back-test and validate any strategy on a demo account before going live.

29 apr

Note di rilascio

Added a missing block