PROTECTED SOURCE SCRIPT
Gann Levels by Acharya Ji
This Pine Script indicator is designed to help traders quickly identify **key intraday levels** based on the **first candle of the trading day**. It performs three main functions:
1. **Marks the First Candle’s High and Low**
- Blue circles are plotted at the high and low of the first candle each day.
- These serve as the baseline reference points for calculating targets.
2. **Plots Upside Targets (Green Lines)**
- Six horizontal green lines are drawn above the first candle’s high.
- Each line represents a percentage increment: **+0.09%, +0.18%, +0.36%, +0.72%, +1.44%, +2.88%**.
- These levels act as potential resistance or profit-taking zones.
3. **Plots Downside Targets (Red Lines)**
- Six horizontal red lines are drawn below the first candle’s low.
- Each line represents a percentage decrement: **-0.09%, -0.18%, -0.36%, -0.72%, -1.44%, -2.88%**.
- These levels act as potential support or stop-loss zones.
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Purpose
- Provides a **structured intraday roadmap** based on the first candle.
- Helps traders visualize **target ladders** both above and below the market.
- Useful for scalpers, intraday traders, and strategy testing around **breakouts or reversals**.
---
👉 Rahul, would you like me to also add **labels (like +0.09%, -0.18%)** directly on the chart next to each line so you can instantly recognize which target level is which without checking the legend?
1. **Marks the First Candle’s High and Low**
- Blue circles are plotted at the high and low of the first candle each day.
- These serve as the baseline reference points for calculating targets.
2. **Plots Upside Targets (Green Lines)**
- Six horizontal green lines are drawn above the first candle’s high.
- Each line represents a percentage increment: **+0.09%, +0.18%, +0.36%, +0.72%, +1.44%, +2.88%**.
- These levels act as potential resistance or profit-taking zones.
3. **Plots Downside Targets (Red Lines)**
- Six horizontal red lines are drawn below the first candle’s low.
- Each line represents a percentage decrement: **-0.09%, -0.18%, -0.36%, -0.72%, -1.44%, -2.88%**.
- These levels act as potential support or stop-loss zones.
---
Purpose
- Provides a **structured intraday roadmap** based on the first candle.
- Helps traders visualize **target ladders** both above and below the market.
- Useful for scalpers, intraday traders, and strategy testing around **breakouts or reversals**.
---
👉 Rahul, would you like me to also add **labels (like +0.09%, -0.18%)** directly on the chart next to each line so you can instantly recognize which target level is which without checking the legend?
Protected script
This script is published as closed-source. However, you can use it freely and without any limitations – learn more here.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Protected script
This script is published as closed-source. However, you can use it freely and without any limitations – learn more here.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.