Key Levels (Daily Percentages)

This indicator automatically identifies and progressively draws daily percentage levels, normalized to the first market bar.
Percentages are one of the most common ways to measure price movement (outside price itself). Being able to visually reference these levels helps contextualize price action, in addition to giving us a glimpse into how algos might "see" the market.
This script is most useful on charts with smaller time frames (1 to 5 minutes). This is not ideal for medium or larger time frames (greater than 5 minutes).
INPUTS
You can configure:
• Line size, style, colors and maximum length
• Label colors and visibility
• Fractional and intra level visibility
• Bidirectional zone parameters (custom range and extended anomalies)
• Normalization source
• Price Proximity features
• Market Hours and Time Zone
INSPIRATION
Broad Assumptions:
• +/- 70% of days move 1%, 20% of days move 1-2%, and 10% of days have moves exceeding 2%.
• +/- 10-20% of days trend, with moves ≥ 1%.
• All trading strategies are effectively scalping, mean reversion, or trend.
• Humans program algos to capitalize on these assumptions, using percentages to mange / execute trades.
• Added Eighths as an incremental level option.
• Added ability to set the labels to be either Percentage, Basis Points, or Value Delta.
• Added tooltips to display the value of each level when you hover over a given label.
• Added ability to set the normalized source interval to always 1 Minute regardless of the current charts interval, or always the Same Interval as Chart. Selecting 1 Minute will show the same zero / scale values regardless of timeframe, and selecting Same Interval as Chart will adjust the zero / scale values based on the charts timeframe.
- Added 1D Chart Open and Close as a Norm. Source option
- Removed support for seconds timeframes to simplify logic
- Other minor enhancements
- Converted to Pine Script v6
- Bug fix
- Incorporated Utility Library for shared logic across scripts.
- Other minor enhancements.
- Updated `for` loops to make them compatible with the latest Pine Script changes affecting counter boundaries.
Script open-source
In pieno spirito TradingView, il creatore di questo script lo ha reso open-source, in modo che i trader possano esaminarlo e verificarne la funzionalità. Complimenti all'autore! Sebbene sia possibile utilizzarlo gratuitamente, ricorda che la ripubblicazione del codice è soggetta al nostro Regolamento.
Per un accesso rapido a un grafico, aggiungi questo script ai tuoi preferiti: per saperne di più clicca qui.
Website: liquid-trader.com
Declinazione di responsabilità
Script open-source
In pieno spirito TradingView, il creatore di questo script lo ha reso open-source, in modo che i trader possano esaminarlo e verificarne la funzionalità. Complimenti all'autore! Sebbene sia possibile utilizzarlo gratuitamente, ricorda che la ripubblicazione del codice è soggetta al nostro Regolamento.
Per un accesso rapido a un grafico, aggiungi questo script ai tuoi preferiti: per saperne di più clicca qui.
Website: liquid-trader.com