sincereLizard

MD DYNAMIC INTRADAY LEVELS

These levels calculation is based on EOD closing price of the script.These levels works in intra day as support and resistance levels. Strong support and resistance levels are shown by "BOLD LINES" .These levels are beautiful work on every script and provide wide range of support and resistance .You can use as "PIVOT POINTS" in your trading. If script price is hovering in between D S 1 & D R 2 means script shows range bound movement in intraday. Script prices open above DR 1 means bullish view, and open below D S 1 means bearish view .Personally I feel all levels can act as SUPPORT & RESISTANCE levels.
1 If the price is falling to the level will act as support.
2 If the prices is rising towards level,this levels will act as resistance .
3 If the price is falling towards dynamic level but support is broken then SUPPORT become RESISTANCE.
4 If the price is rising towards the dynamic level and resistance is broken then RESISTANCE become SUPPORT.
5 Initiate buy position closer to support levels with stop loss below the support level .
6 Initiate sell position closer to resistance levels with stop loss above the resistance levels
7 I use 5 min time frame in intraday trading
8 use proper risk and money management
9 This is for educational and learning purposes. Follower take their financial assistance before making any buy/sell decision.
HAPPY TRADING



Open-source script

In true TradingView spirit, the author of this script has published it open-source, so traders can understand and verify it. Cheers to the author! You may use it for free, but reuse of this code in a publication is governed by House Rules. You can favorite it to use it on a chart.

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Comments

Thankyou so much for this fantastic Gann levels. They are 100% correct. Earlier i use to draw manually.
Once again thankyou so much.
If possible kindly make a script to plot Gann Swings
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