Livelli e punti pivot
MACD 3 linesЭтот индикатор разработан для анализа изменения направления тренда с использованием модифицированного MACD. Он помогает трейдерам выявлять моменты, когда тренд актива может измениться, визуализируя эти изменения на графике.
Основные компоненты:
1. Пользовательские параметры:
- Fast Length 2 и Slow Length 2: Эти параметры позволяют пользователю задать длины для быстрых и медленных скользящих средних, используемых в расчете MACD.
- Тип скользящей средней: Пользователь может выбрать между простыми (SMA) и экспоненциальными (EMA) скользящими средними для расчета.
- Источник данных: Пользователь может выбрать, какие цены (закрытия, открытия и т.д.) использовать для расчетов.
2. Расчет MACD:
- Индикатор вычисляет две скользящие средние на основе выбранных параметров и из их разницы формирует значение MACD. Это значение помогает определить текущее направление тренда.
3. Определение изменения направления:
- Индикатор анализирует последовательность значений MACD для выявления изменений направления тренда. Если текущие значения указывают на снижение, это считается медвежьим пересечением; если на рост — бычьим.
4. Визуализация:
- Когда индикатор определяет медвежье пересечение, фон соответствующего бара на графике окрашивается в полупрозрачный красный цвет.
- При бычьем пересечении фон бара становится полупрозрачным зеленым.
- Это позволяет трейдерам быстро и легко идентифицировать моменты изменения тренда на графике.
Используя этот индикатор, трейдеры могут получить визуальные подсказки о потенциальных изменениях тренда, что может помочь в принятии более обоснованных торговых решений. Индикатор подходит как для начинающих, так и для опытных трейдеров, желающих улучшить свою стратегию анализа рынка.
RDT_BitLionRDT is a set of highly practical indicators used for trading with Richard Dennis's strategy.
A wealth of information on this topic can be found in various sources.
This indicator streamlines the process and simplifies data handling.
BK BB Horizontal LinesIndicator Description:
I am incredibly proud and excited to share my second indicator with the TradingView community! This tool has been instrumental in helping me optimize my positioning and maximize my trades.
Bollinger Bands are a critical component of my trading strategy. I designed this indicator to work seamlessly alongside my previously introduced tool, "BK MA Horizontal Lines." This indicator focuses specifically on the Daily Bollinger Bands, applying horizontal lines to the bands which is displayed in all timeframes. The Daily bands in my opinion hold a strong significance when it comes to support and resistance, knowing your current positioning and maximizing your trades. The settings are fully adjustable to suit your preferences and trading style.
If you find success with this indicator, I kindly ask that you give back in some way through acts of philanthropy, helping others in the best way you see fit.
Good luck to everyone, and always remember: God gives us everything. May all the glory go to the Almighty!
Forex Daily Pivot IndicatorThis is a daily pivot indicator calculated for Forex that observes a Friday close with a Sunday evening open. It will combine Sunday and Monday together when price action dictates. It displays the pivots in a unique, easy to view manner which updates with every bar, regardless of timeframe. So, the daily pivots are always right there in your real-time view. Due to the calculation for the Forex open/close, I do not recommend this indicator for use in other markets without modification. Note: Screenshot example has line thickness set to 3. Line thickness is the only parameter you need to adjust.
Relevant Price PointsHow It Helps:
Quickly spot key price levels for entries and exits.
Identify support and resistance zones.
Plan trades around pivot points and high/low breakouts.
Trend Retracement IndicatorTrend Retracement Indicator
Cet indicateur identifie les opportunités d'achat en trois étapes :
Détection de la tendance : Utilise une moyenne mobile simple (SMA) pour déterminer si le marché est en tendance haussière.
Zone de retracement : Calcule une zone discount basée sur les plus hauts et les plus bas des 100 dernières périodes (paramétrable) et un niveau de retracement ajustable (par défaut à 50 %).
Confirmation du retournement : Vérifie un retournement dans la zone de retracement avec un volume supérieur à 1.5 fois la moyenne sur les 10 dernières périodes.
Affichage sur le graphique
Zones clés :
Plus haut : Ligne rouge.
Plus bas : Ligne verte.
Zone de retracement : Ligne bleue.
Signal d'achat : Flèche orientée vers le haut sous les bougies.
Personnalisation
Les paramètres sont ajustables pour s'adapter à votre stratégie :
Période pour les calculs des plus hauts et bas.
Niveau de retracement (exprimé en pourcentage).
Seuil de volume pour confirmer un retournement.
Cet indicateur est idéal pour les traders utilisant des zones de discount/premium et souhaitant intégrer le volume comme critère de validation.
PARAMETRE IDEAL
Période 120
Retracement 0,5
Seuil de volume 1.8
SPIRIT Bottom Detector with Fibonacci Description de l'indicateur : Bottom Detector with Fibonacci (Refined)
Cet indicateur a été conçu pour identifier des points bas (bottoms) significatifs sur un graphique en utilisant des niveaux de retracement de Fibonacci et des filtres avancés pour améliorer la précision et réduire les faux signaux.
Fonctionnalités principales :
Détection des sommets et des creux locaux :
Utilise une fenêtre paramétrable (window) pour repérer les sommets (Swing High) et creux (Swing Low) significatifs dans les données.
Calcul des niveaux de Fibonacci :
Calcule le niveau de retracement de Fibonacci 0.618 entre le dernier sommet et le dernier creux détectés.
Ce niveau sert de seuil clé pour déterminer les bottoms.
Conditions avancées pour les signaux :
RSI : Un filtre optionnel valide les signaux uniquement si le RSI est en zone de survente (par défaut, RSI < 30).
Proximité avec Fibonacci : Les signaux ne sont déclenchés que si le prix est très proche du niveau 0.618 (par défaut ±0.5%).
Espacement entre signaux : Un signal n'est autorisé que si aucune alerte similaire n'a été déclenchée dans les 10 dernières barres (paramétrable via signal_spacing).
Visualisation des signaux :
Les points bas identifiés sont marqués par des flèches noires sous les bougies correspondantes.
Les niveaux de Fibonacci sont tracés sur le graphique avec des lignes rouges pour fournir un contexte visuel.
Labels explicatifs :
Les sommets et creux locaux sont annotés directement sur le graphique pour une meilleure compréhension des points de calcul.
Paramètres personnalisables :
Fenêtre pour sommets/creux locaux : Nombre de barres utilisées pour détecter un sommet ou un creux.
Afficher les niveaux de Fibonacci : Permet d'activer ou de désactiver la visualisation des lignes Fibonacci.
Seuil RSI (survente) : Ajuste le seuil de survente pour le filtre RSI.
Proximité Fibonacci (±) : Définit la tolérance en pourcentage autour du niveau 0.618.
Espacement minimal entre signaux : Définit le nombre minimum de barres entre deux signaux consécutifs.
Utilisation :
Objectif : Identifier des opportunités d'achat potentielles lors de retournements majeurs.
Recommandation : Combinez cet indicateur avec d'autres outils ou stratégies (comme les moyennes mobiles ou les analyses de volume) pour une confirmation supplémentaire.
Marchés adaptés : Fonctionne particulièrement bien sur des actifs volatils comme les cryptomonnaies, mais peut également être utilisé sur des actions, indices, ou autres marchés.
Cet indicateur vise à fournir des signaux précis et exploitables en réduisant les bruits inutiles autour des bottoms, tout en conservant une flexibilité grâce à des paramètres ajustables.
Reglage optimal pour btc
Fenêtre pour sommet 1
Seuil RSI survente 35
Fibonacci 0.00618
Emplacement 12
Dans style enlever labels et ligne.
Levels-PMH/PML/Today H/L,Y Low/Close & Levels Screenerthis script calculates and plots levels mentioned in the title and is a screener for 13 manually inputted tickers and displays which of them are closing over PMH or below PML
this is my first attempt to give back to my TV community. Be critical. I will try and work thru all suggestions
Central Pivot Range (CPR)Central Pivot Range (CPR) Indicator
The Central Pivot Range (CPR) indicator is designed to help traders identify key levels of support and resistance based on pivot points calculated from the previous day's price action. The CPR levels act as critical areas of price convergence and potential reversal, which can help in anticipating future price movements. This version of the CPR indicator includes customizable features to enhance your trading strategy.
Key Features:
Custom Timeframe Support: The indicator allows you to select a custom timeframe for calculating the CPR levels. By default, it uses the daily timeframe ('D'), but you can adjust it to any other timeframe of your choosing. The indicator calculates the CPR and support/resistance levels based on the data from the selected timeframe.
Central Pivot (CP), Below Central Pivot (BC), and Top Central Pivot (TC):
Pivot (CP): The central pivot point is calculated as the average of the high, low, and close prices of the selected timeframe.
Below Central Pivot (BC): This is the midpoint between the high and low prices of the selected timeframe.
Top Central Pivot (TC): This is calculated based on the central pivot and below central pivot, providing a range between support and resistance levels.
Support and Resistance Levels (S1, S2, S3, R1, R2, R3):
Support Levels (S1, S2, S3): These are calculated based on the central pivot, providing potential areas where price may find support and reverse.
Resistance Levels (R1, R2, R3): These are calculated similarly but indicate potential resistance zones where price may face challenges to move higher.
Dynamic Plotting Based on User Input:
The indicator allows you to choose which levels to display on the chart, including the Central Pivot (CP), Support Levels (S1, S2, S3), and Resistance Levels (R1, R2, R3), all of which can be toggled on or off via checkboxes.
CP is displayed in white, BC and TC in blue, Support levels (S1, S2, S3) in green, and Resistance levels (R1, R2, R3) in red.
Daywise Calculations:
The CPR and levels are based on the previous day’s price action, providing historical support and resistance levels that can be useful for intraday analysis.
The request.security function is used to fetch the pivot data from the custom timeframe, ensuring the levels are calculated based on the last completed period (previous day) without repainting.
Customization Options:
CPR Plot: Toggle the visibility of the central pivot range (CPR) lines.
Support Levels (S1, S2, S3): Choose to show or hide the support levels.
Resistance Levels (R1, R2, R3): Choose to show or hide the resistance levels.
Custom Timeframe: Set a custom timeframe for calculating the CPR, allowing for more flexible and tailored analysis.
Bitcoin Reversal PredictorOverview
This indicator displays two lines that, when they cross, signal a potential reversal in Bitcoin's price trend. Historically, the high or low of a bull market cycle often occurs near the moment these lines intersect. The lines consist of an Exponential Moving Average (EMA) and a logarithmic regression line fitted to all of Bitcoin's historical data.
Inspiration
The inspiration for this indicator came from the PI Cycle Top indicator, which has accurately predicted past bull market peaks. However, I believe the PI Cycle Top indicator may not be as effective in the future. In that indicator, two lines cross to mark the top, but the extent of the cross has been diminishing over time. This was especially noticeable in the 2021 cycle, where the lines barely crossed. Because of this, I created a new indicator that I think will continue to provide reliable reversal signals in the future.
How It Works
The logarithmic regression line is fitted to the Bitcoin (BTCUSD) chart using two key factors: the 'a' factor (slope) and the 'b' factor (intercept). This results in a steadily decreasing line. The EMA oscillates above and below this regression line. Each time the two lines cross, a vertical colored bar appears, indicating that Bitcoin's price momentum is likely to reverse.
Use Cases
- Price Bottoming:
Bitcoin often bottoms out when the EMA crosses below the logarithmic regression line.
- Price Topping:
In contrast, Bitcoin often peaks when the EMA crosses above the logarithmic regression line.
- Profitable Strategy:
Trading at the crossovers of these lines can be a profitable strategy, as these moments often signal significant price reversals.
Bitcoin Logarithmic Regression BandsOverview
This indicator displays logarithmic regression bands for Bitcoin. Logarithmic regression is a statistical method used to model data where growth slows down over time. I initially created these bands in 2019 using a spreadsheet, and later coded them in TradingView in 2021. Over time, the bands proved effective at capturing Bitcoin's bull market peaks and bear market lows. In 2024, I decided to share this indicator because I believe these logarithmic regression bands offer the best fit for the Bitcoin chart.
How It Works
The logarithmic regression lines are fitted to the Bitcoin (BTCUSD) chart using two key factors: the 'a' factor (slope) and the 'b' factor (intercept). The two lines in the upper and lower bands share the same 'a' factor, but I adjust the 'b' factor by 0.2 to more accurately capture the bull market peaks and bear market lows. The formula for logaritmic regression is 10^((a * ln) - b).
How to Use the Logarithmic Regression Bands
1. Lower Band (Support Band):
The two lines in the lower band create a potential support area for Bitcoin’s price. Historically, Bitcoin’s price has always found its lows within this band during past market cycles. When the price is within the lower band, it suggests that Bitcoin is undervalued and could be set for a rebound.
2. Upper Band (Resistance Band):
The two lines in the upper band create a potential resistance area for Bitcoin’s price. Bitcoin has consistently reached its highs in this band during previous market cycles. If the price is within the upper band, it indicates that Bitcoin is overvalued, and a potential price correction may be imminent.
Use Cases
- Price Bottoming:
Bitcoin tends to bottom out at the lower band before entering a prolonged bull market or a period of sideways movement.
- Price Topping:
In reverse, Bitcoin tends to top out at the upper band before entering a bear market phase.
- Profitable Strategy:
Buying at the lower band and selling at the upper band can be a profitable trading strategy, as these bands often indicate key price levels for Bitcoin’s market cycles.
[Bkong]Liquidity Demand DetectionLiquidity Demand Detection
**Overview:**
Liquidity Demand Detection is a liquidity indicator designed to identify areas with insufficient liquidity for trading. Insufficient liquidity areas can be categorized into the following two types:
1. **Order Gaps Caused by Genuine Liquidity Shortages:** These occur when there is a real lack of liquidity in the market, leading to gaps in orders.
2. **Order Gaps Due to Rapid Order Execution Amid Increased Demand:** These occur when liquidity is sufficient, but a surge in demand or large institutional orders quickly consume available orders, resulting in insufficient liquidity.
**Trading Logic:**
The strategy focuses on identifying areas where a surge in demand has led to insufficient liquidity, such as large order absorptions caused by increased market demand or institutional entry. When a gap forms, traders can follow the prevailing trend. In the future, these areas are expected to accumulate a significant number of orders, meaning a large number of pending orders will build up. When the price returns to these areas, they can act as support and resistance levels, providing entry points for reversal trades.
**Applicable To:**
The default cycle parameter is set for intraday trading, suitable for a 15-minute time frame. For other time frames, users need to set their own parameters.
**Parameters:**
1. **Volume Confirmation Cycle:** Set an average value for a volume cycle as a reference.
2. **Standard Deviation of Cycle Calculation:** Calculate the standard deviation of the volume cycle and set a multiple threshold to filter out gaps that are not caused by a surge in demand.
3. **Maximum Number of Gaps to Display:** Define the maximum number of order gaps that will be shown.
ATH DrawdownThis Pine Script indicator, titled "ATH Drawdown," is designed to help traders and analysts visualize various drawdown levels from the all-time high (ATH) of a security over the past 365 days. This indicator plots several key drawdown levels on the chart and dynamically updates their color and labels to reflect market conditions.
Key Features:
Daily High Calculation:
Fetches the daily high prices for the security using the request.security function.
Highest High Calculation:
Calculates the highest high over the last 365 days using daily data. This represents the all-time high (ATH) for the specified period.
Drawdown Levels:
Computes various drawdown levels from the ATH:
2% Drawdown
5% Drawdown
10% Drawdown
15% Drawdown
25% Drawdown
45% Drawdown
50% Drawdown
Dynamic Line Coloring:
The color of the 2% drawdown line changes dynamically based on the current closing price:
Red if the close is below the 2% drawdown level.
Green if the close is above the 2% drawdown level.
Plotting Drawdown Levels:
Plots each drawdown level on the chart with specific colors and line widths for easy visual distinction:
2% Drawdown: Green or Red, depending on the closing price.
5% Drawdown: Orange.
10% Drawdown: Blue.
15% Drawdown: Maroon.
25% Drawdown: Purple.
45% Drawdown: Yellow.
50% Drawdown: Black.
Labels for Drawdown Levels:
Adds labels at the end of each drawdown line to indicate the percentage drawdown:
Labels display "2%", "5%", "10%", "15%", "25%", "45%", and "50%" respectively.
The labels are positioned dynamically at the latest bar index to ensure they are always visible.
Example Use Cases:
Risk Management: Quickly identify significant drawdown levels to assess the risk of current positions.
Support Levels: Use drawdown levels as potential support levels where price might find buying interest.
Performance Tracking: Monitor how far the price has retraced from its all-time high to understand market sentiment and performance.
This script offers traders and analysts an efficient way to visualize and track important drawdown levels from the ATH, helping in better risk management and decision-making. The dynamic color and label features enhance the readability and usability of the indicator.
Ruhelos Pivot Points V1.0Was der Indikator macht:
Er berechnet die Pivot-Punkte (Pivot, R1, R2, R3, S1, S2, S3) für wöchentliche und monatliche Zeitrahmen.
Die Pivot-Punkte werden als Linien im Chart angezeigt, wobei Farbe, Dicke und Stil (durchgezogen, gestrichelt, gepunktet) individuell angepasst werden können.
Die Werte der Pivot-Punkte werden zusätzlich in einer übersichtlichen Tabelle dargestellt.
Die Tabelle kann in den Einstellungen des Indikators ein- und ausgeblendet werden.
Mein Ziel:
Ich wollte einen Indikator erstellen, der die Pivot-Punkte übersichtlich und flexibel darstellt, damit Trader die wichtigen Unterstützungs- und Widerstandszonen leicht erkennen können.
Offen für Feedback:
Da ich noch am Anfang meiner Pine-Script-Reise stehe, bin ich offen für jegliches Feedback und Verbesserungsvorschläge.
Insbesondere würde mich interessieren:
Gibt es Möglichkeiten, den Code zu optimieren oder zu vereinfachen?
Sind die Berechnungen der Pivot-Punkte korrekt und gibt es vielleicht bessere Formeln?
Welche zusätzlichen Funktionen könnten den Indikator noch nützlicher machen?
Ich freue mich auf eure Kommentare und Ideen!
Estrategia RSI para BCT/USDT//@version=5
indicator("Estrategia RSI para BCT/USDT", overlay=false)
// Configuración del RSI
rsiPeriod = 14
rsiOverbought = 70
rsiOversold = 30
// Cálculo del RSI
rsiValue = ta.rsi(close, rsiPeriod)
// Señales de Compra y Venta
buySignal = ta.crossover(rsiValue, rsiOversold)
sellSignal = ta.crossunder(rsiValue, rsiOverbought)
// Gráfico del RSI
hline(rsiOverbought, "Sobrecompra", color=color.red)
hline(rsiOversold, "Sobreventa", color=color.green)
plot(rsiValue, "RSI", color=color.blue)
// Señales en el gráfico
plotshape(buySignal, style=shape.labelup, location=location.belowbar, color=color.green, size=size.small, text="BUY")
plotshape(sellSignal, style=shape.labeldown, location=location.abovebar, color=color.red, size=size.small, text="SELL")
// Histograma de RSI
bgcolor(buySignal ? color.new(color.green, 90) : na)
bgcolor(sellSignal ? color.new(color.red, 90) : na)
Swing Structure Scanner [LuxAlgo]The Swing Structure Scanner Indicator is a dashboard type indicator which displays a Consolidated "High/Low-Only" view of swing structure, with the capability to retrieve and display swing points from up to 6 different tickers and timeframes at once.
🔶 USAGE
This indicator displays swing structure data from up to 6 unique tickers or timeframes; Each graph represents the current swing structure retrieved from the requested chart/s.
Each swing graph displays the current live swing point positioning relative to the previous swing points. By analyzing the different formations, patterns can more easily be recognized and found across multiple tickers or timeframes at once.
This indicator serves as a nifty tool for confluence recognition, whether that's confluence throughout market tickers, or confluence through higher timeframes on the same ticker.
Alternatively, viewing the relative positioning of each swing point to each other, should give a clearer idea when higher lows or lower highs are formed. This can potentially indicate a newly forming trend, as well as serving as a warning to watch for breakouts.
The swing length can be changed to align with each individual's strategy, as well as a display look back can be adjusted to show more or less swing points at one time.
The display is fairly customizable, it is not fixed to 6 symbols at all times and can be minimized to only display the number of symbols needed; Additionally, the display can be set to vertical mode or horizontal(default) to utilize as needed.
Note: Hover over the swing point in the dashboard to get a readout of the exact price level of the swing point.
🔶 SETTINGS
Swing Length: Set the swing length for the structure calculations.
Swing Display Lookback: Sets the number of swing points (Pairs) to display in each Swing Graph display.
Symbols: Sets the Timeframe and Symbol for each Swing Graph.
Vertical Display: Display the Swing Graphs up and down, rather than side to side.
Scaling Factor: Scales the entire indicator up or down, to fit your needs.
Eroina Trend Reversal Indicator with ConfirmationsEroina Trend Reversal Indicator with Confirmations
Overview (English):
The Trend Reversal Indicator with Confirmations is designed to identify potential trend reversals by analyzing dynamic resistance and support levels. This script uses a robust confirmation system to reduce false signals, making it ideal for traders who seek disciplined, data-driven decisions.
Key Features:
• Dynamic Levels: Calculates resistance and support levels based on user-defined lengths.
• Breakout Confirmation: Confirms trend reversals by validating price action over a specified number of candles.
• Visual Cues: Displays “LONG” and “SHORT” signals directly on the chart, alongside resistance/support levels.
• Customizable Parameters: Adaptable to different timeframes and market conditions.
How It Works:
1. Resistance & Support Levels:
• Resistance: Calculated as the highest high over the last N bars.
• Support: Calculated as the lowest low over the last N bars.
2. Breakout Detection:
• A resistance breakout occurs when the price closes above the resistance level.
• A support breakout occurs when the price closes below the support level.
3. Confirmation Logic:
• Signals are validated only if the price remains above/below the levels for a user-defined number of candles.
4. Entry Signals:
• “LONG” signals indicate a confirmed breakout above resistance.
• “SHORT” signals indicate a confirmed breakdown below support.
Settings:
• Resistance Length: Defines the number of candles used to calculate resistance levels.
• Support Length: Defines the number of candles used to calculate support levels.
• Confirmation Candles: Specifies how many candles are required to confirm breakouts.
Usage:
This indicator is ideal for identifying trend reversals and optimizing entry points. Combine it with volume analysis or other technical indicators to enhance accuracy. For example:
• Use in conjunction with RSI to avoid overbought/oversold conditions.
• Combine with moving averages to confirm the trend direction.
Overview (Additional Language):
(Your additional language description can go here after English, e.g., Russian, Spanish, etc.)
TAPDA Hourly Open Lines (Candle Body Box)-What is TAPDA?
TAPDA (Time and Price Displacement Analysis) is based on the belief that markets are driven by algorithms that respond to key time-based price levels, such as session opens. Traders who follow TAPDA track these levels to anticipate price movements, reversals, and breakouts, aligning their strategies with the patterns left by these underlying algorithms. By plotting lines at specific hourly opens, the indicator allows traders to visualize where the market may react, providing a structured way to trade alongside the algorithmic flow.
***************
**Sauce Alert** "TAPDA levels essentially act like algorithmic support and resistance" By plotting these hourly opens, the TAPDA Hourly Open Lines indicator helps traders track where algorithms might engage with the market.
***************
-How It Works:
The indicator draws a "candle body box" at selected hours, marking the open and close prices to highlight price ranges at significant times. This creates dynamic zones that reflect market sentiment and structure throughout the day. TAPDA levels are commonly respected by price, making them useful for identifying potential entry points, stop placements, and trend reversals.
-Key Features:
Customizable Hour Levels – Enable or disable specific times to fit your trading approach.
Color & Label Control – Assign unique colors and labels to each hour for better visualization.
Line Extension – Project lines for up to 24 hours into the future to track key levels.
Dynamic Cleanup – Old lines automatically delete to maintain chart clarity.
Manual Time Offset – Adjust for broker or server time zone differences.
-Current Development:
This indicator is still in development, with further updates planned to enhance functionality and customization. If you find this script helpful, feel free to copy the code and stay tuned for new features and improvements!
Previous Week High & Low with middle lineDescription:
The Previous Week High & Low Indicator is a powerful tool designed to provide traders with key reference levels from the previous trading week. It dynamically calculates and plots the previous week's high, low, and midpoint levels directly on your chart, helping you identify critical support and resistance zones.
Features:
1. **Previous Week High and Low Lines**:
- The indicator displays the high and low prices of the previous trading week, allowing you to analyze price action relative to these levels.
- These lines are plotted as step lines, visible only during the active trading days (Monday to Friday), ensuring clean and uncluttered charts.
2. Midpoint Line:
- The midpoint between the previous week's high and low is calculated and displayed as a reference level.
- This white line can act as a psychological pivot point for market participants.
3. Customizable Display:
- You can toggle the visibility of the high and low lines using input options, tailoring the indicator to your preferences.
4. Precision and Aesthetics:
- The lines are plotted with precision and styled for clarity, using subtle transparency for an unobtrusive yet informative appearance.
Use Case:
- This indicator is ideal for traders who rely on historical price levels for planning entries, exits, or stop-loss placements.
- It works seamlessly with any timeframe and asset, making it versatile for various trading strategies.
How It Works:
- The indicator fetches the previous week's high and low prices using the weekly timeframe and "lookahead" mode to ensure these levels remain static after the week's close.
- The lines are plotted only on weekdays (Monday to Friday) to exclude weekend data, ensuring accuracy for markets that operate 24/5.
This tool simplifies your chart analysis and empowers you to make informed trading decisions based on historical price dynamics.
BK MA Horizontal Lines
Indicator Description:
I am incredibly proud and excited to share my first indicator with the TradingView community! This tool has been instrumental in helping me optimize my positioning and maximize my trades.
Moving Averages (MAs) are among the top three most crucial indicators for trading, and I believe that the Daily, Weekly, and Monthly MAs are especially critical. The way I’ve designed this indicator allows you to combine MAs from your Daily timeframe with one or two from the Weekly or Monthly timeframes, depending on what is most relevant for the specific product or timeframe you’re analyzing.
For optimal use, I recommend:
Spacing your chart about 11 spaces from the right side.
Setting the Labels at 10 in the indicator configuration.
Keeping the line thickness at size 1, while using size 2 for my other indicator, "BK BB Horizontal Lines", which follows a similar concept but applies to Bollinger Bands.
If you find success with this indicator, I kindly ask that you give back in some way through acts of philanthropy, helping others in the best way you see fit.
Good luck to everyone, and always remember: God gives us everything. May all the glory go to the Almighty!
