OHLC Lines + 50% of the previous candle

This indicator automatically put a straight line on the High, Low, Close, and Open and calculates the Consequent Encroachment or the midline (50%) of the previous candle. The calculation for the midline can be based on either the High and Low or the Open and Close. The option to disable OHLC labels is available. The indicator displays the premium and discount areas of the previous candle, allowing for a strategy of buying on discount and selling on premium based on each candle stick.

Release Notes

Update: The indicator was showing two OHLCs lines in Lower time frames like 1, 2, 3, 4, and 5 minutes. Now it is fixed.
Now you can have the OHLC on a chosen time frame.

Release Notes

The Open-label was aligned on top of the exact opening price.

Release Notes

A small bug was fixed: It was preventing only one OHLC to be shown in lower time frames.

Release Notes

Bugs fixes

Release Notes

Resolved the overlapping problem
Now when a specific time frame is chosen it can be seen in all time frames. Example: 1 for M1, 60 for H1, 240 for H4, D for Day, etc...

Release Notes

Name changed to better adapt it to my PO4 strategy.

Release Notes

Minor bugs fix

Release Notes

- Fixed a bug that was plotting lines in more than one previous candle.
- It works completely fine in lower time frames now.

Release Notes

Mostly reserved for my students, I am sharing the premium version of indicator to the general public.
- Cleaner lines
- Name change
- Several bug fix
- Fast and efficient
- Time frame table added

Release Notes

- Fix OHLC to be at previous candle instead of the current candle.

Release Notes

- Bugs fixes
- Current time frame selection added

Release Notes

- Cleaner and better UI
- Bugs fixes
- Lines precision when selected time frame is chose.

Release Notes

- Option to see multiple previous candles OHLC (Up to 10)

Open-source script

In true TradingView spirit, the creator of this script has made it open-source, so that traders can review and verify its functionality. Kudos to the author! While you can use it for free, remember that republishing the code is subject to our House Rules.

MaxMaserati

MMM : No body close (PO4), No Trade.

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Disclaimer

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Open-source script

MaxMaserati

MMM : No body close (PO4), No Trade.

Also on: