Yearly Levels for Day Traders — Indicator by malrawi

trendanalysis daytrade daytrading shortterm

The above is the five minutes chart for $aapl

The script is useful in identifying price levels for the short term trading. The inputs are based on Fibonacci ratios but on yearly basis.

You will need to enter the pair ratio for where the stock is between ( I will show you).

Those pairs are as follows:

R1/R2
(0/0.23)
(.23/.38)
(.38/.61)
(.61/1)
(1/1.61)
(1.61/2.61)
(2.61/4.23)
(4.23/6.859)
(6.85/11.08)
(11.08/17.94)
(17.94/29.05)
(29.05/46.95)
(46.95/75.99)
(75.99/122.99)

I personally added the indicator multiple times to a template and put in all the pairs so I do not have to enter the pair each time.

The script does not tell you which level is a bottom or a top. Your experience matters.

If you are interested please PM me the username:

Invite-only script

Access to this script is restricted to users authorized by the author and usually requires payment. You can add it to your favorites, but you will only be able to use it after requesting permission and obtaining it from its author. Contact malrawi for more information, or follow the author's instructions below.

TradingView does not suggest paying for a script and using it unless you 100% trust its author and understand how the script works. In many cases you can find a good open-source alternative for free in our Community Scripts.

Disclaimer

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