Auto Price Levels

May 29

Main Function:
This script creates horizontal lines on the chart at the market open price levels for different timeframes (4H, Daily, Weekly, Monthly). It helps traders track the open price levels and analyze their impact on the current price movements.

Unique Features:

1. Multi-Timeframe Support: The script allows users to display horizontal lines for 4-hour, daily, weekly, and monthly timeframes, providing a comprehensive view of market open prices across different periods.
   
2. Customization Options: Users can customize the line color, width, and style (solid, dotted, or dashed) for each timeframe separately, offering flexibility to match their charting preferences.
   
3. Sensitivity Setting: The script includes a sensitivity setting to filter lines based on the price movement percentage, allowing traders to focus on significant price levels.
   
4. Day Filter: Users can enable a day filter to limit the display of lines to a specific number of days, which helps in reducing chart clutter and focusing on recent price levels.
   
5. Automatic Updates: The script automatically updates the lines based on the latest market data, ensuring that traders always have the most relevant information.
   
6. Alerts: Integrated alert conditions notify traders when the price crosses above or below the open price on any of the specified timeframes, enabling timely decision-making.
   

How It Works:

1. Line Creation: For each selected timeframe, the script calculates the open price and compares it to the close price to determine the level at which the horizontal line should be drawn.
   
2. Line Management: The script manages the creation and deletion of lines to ensure only relevant lines are displayed, based on the user-defined sensitivity and day filter settings.
   
3. Customization: Through the input settings, traders can personalize the appearance and behavior of the lines to suit their specific trading strategies and preferences.
   
4. Alerts: The script sets up alert conditions that trigger notifications when the price crosses the open price levels, helping traders stay informed of critical market movements.
   

How to Use:

1. Select Timeframes: Enable or disable the display of lines for 4-hour, daily, weekly, and monthly timeframes as needed.
   
2. Customize Lines: Adjust the line color, width, and style for each timeframe using the input settings.
   
3. Set Sensitivity: Define the sensitivity percentage to filter lines based on significant price movements.
   
4. Enable Day Filter: If desired, enable the day filter and set the number of days to display lines.
   
5. Monitor Alerts: Set up alerts to receive notifications when the price crosses the open price levels on any of the chosen timeframes.
   

This script is designed to enhance traders' ability to monitor key price levels and make informed trading decisions. Its unique features and customization options provide a valuable tool for analyzing market open prices across multiple timeframes.

May 29

Release Notes

Added filters for precision, sensitivity, and day limits with enable/disable options for each timeframe. Optimized menu item names and added tooltips in English. Default settings updated as per requirements.

May 30

Release Notes

fix

May 30

Release Notes

fix

May 30

Release Notes

Added price difference filter and updated level detection logic

- Added parameters for enabling/disabling price difference filter for each timeframe.
- Added parameter for defining the allowable price difference percentage.
- Updated level detection logic to only create levels in case of alternating bullish (green) and bearish (red) bars.
- Price check logic now considers the percentage difference between closing price of one bar and opening price of another or vice versa.
- Updated sensitivity filter logic to delete older lines if new ones are within the sensitivity interval.
- Fixed syntax errors in the settings for each timeframe.

May 31

Release Notes

Enhanced the sensitivity filter to correctly remove older lines when new ones are within the specified sensitivity range, ensuring only the most recent lines are retained.

Jun 1

Release Notes

Updated the script to display accurate weekly and monthly levels on lower timeframes by using only completed bars from higher timeframes. Fixed the logic to remove older lines when the sensitivity filter is enabled, retaining only the newer lines. Default settings for each timeframe have been set as per the provided images.