Method sets out pivots
100%
75%
50%
25%
0%
Divisions of a range using a cloning method from a High/Low range determined by selecting the number of Months to determine the anchor points.
100%
75%
50%
25%
0%
Divisions of a range using a cloning method from a High/Low range determined by selecting the number of Months to determine the anchor points.
Note di rilascio:
Update to make colors more consistent.
Red = 50% levels
Navy = 25% Levels
Black = Box Border
Secondary levels
Maroon subdivides major levels
Yellow next closest clone level to price
Red = 50% levels
Navy = 25% Levels
Black = Box Border
Secondary levels
Maroon subdivides major levels
Yellow next closest clone level to price
Note di rilascio:
Added the ability to switch from 0.5 Fib Cloning to 0.618 Fib Cloning.
Added the ability to switch on/off Fibs in proximity of the price (3 new fib levels)
Slimmed the markers for better visuals.
Recommendation: Set the monthly window to include a High and Low that is inclusive of the current price range for the best outcome.
Added the ability to switch on/off Fibs in proximity of the price (3 new fib levels)
Slimmed the markers for better visuals.
Recommendation: Set the monthly window to include a High and Low that is inclusive of the current price range for the best outcome.
Note di rilascio:
Minor update to drawing.
Note di rilascio:
Updated to Pine Version 5
Cloning a chart provides price ladders for ladder trading strategies.
The basic principle uses the chart all time high, all time low of price (note not the instrument all time high or low but only the data available for the chart time frame being used).
That range is then continuously divided by 2. The limit of how many divisions is determined by the user, the user sets up a minimum gap between clone levels.
That tells the script to stop dividing the chart if the distance between the lines is less than what you as the user enters.
A few points:
- if the script loop takes too long and times out, then it's likely you set the minimum gap to be too small - creating too many levels. Adjust higher the minimum gap to solve this problem.
- there is a setting to limit how many level lines to show around the price so the entire tableau is not drawn.
This is just a useful tool that simplifies the screen and personally I use this rather than standard pivots (traditional, classic etc.)
Cloning a chart provides price ladders for ladder trading strategies.
The basic principle uses the chart all time high, all time low of price (note not the instrument all time high or low but only the data available for the chart time frame being used).
That range is then continuously divided by 2. The limit of how many divisions is determined by the user, the user sets up a minimum gap between clone levels.
That tells the script to stop dividing the chart if the distance between the lines is less than what you as the user enters.
A few points:
- if the script loop takes too long and times out, then it's likely you set the minimum gap to be too small - creating too many levels. Adjust higher the minimum gap to solve this problem.
- there is a setting to limit how many level lines to show around the price so the entire tableau is not drawn.
This is just a useful tool that simplifies the screen and personally I use this rather than standard pivots (traditional, classic etc.)
Note di rilascio:
Small Update to highlight Major Divisions
- Half and Quarter lines
- Half and Quarter lines
Note di rilascio:
After some feedback, I am rolling back the prior change and simply upgrading the older version 3 script to version 4 of Pine.
I will publish open source the newer version 5 script separately.
To the version 3 users - sorry for the disruption, I understand how changes in your trading tools can be disruptive.
To the new version 5 users - look for a new publication.
I will publish open source the newer version 5 script separately.
To the version 3 users - sorry for the disruption, I understand how changes in your trading tools can be disruptive.
To the new version 5 users - look for a new publication.
