OPEN-SOURCE SCRIPT
Updated Devil Marks - Multi Timeframe
A handy completely new script that shows Devil Marks for several time frames on the current time frame.
Devil Marks are where candles have no wick at one end of the candlestick. These levels are seen as areas that price needs to go back to at some point to re-balance the imbalance. These levels can add confluence to a trade idea.
A table is included that shows the closest devil mark for each time frame.
Devil Marks should show until that level is mitigated by price trading at that level.
Devil Marks are where candles have no wick at one end of the candlestick. These levels are seen as areas that price needs to go back to at some point to re-balance the imbalance. These levels can add confluence to a trade idea.
A table is included that shows the closest devil mark for each time frame.
Devil Marks should show until that level is mitigated by price trading at that level.
Release Notes
A slight code change to improve Devil Mark removal on lower time frames when mitigatedThere can still be the odd incidence where next candle ticks above a new Devil Mark but it will keep showing on the lower time frame. Where price looks like it may have already been mitigated by a tick wick its best to check the actual time frame chart to see if the Devil Mark is still valid as the code correctly removes mitigated marks.
Release Notes
Code changed to improve higher time frame Devil Mark removal once mitigated on current chart. I think this has solved this issue once and for all. Release Notes
Updated to include 1 minute Devil MarksRelease Notes
increased mitigation tolerance allowance to 0.00001 for forex pairs so that mitigated devils marks are removed correctly from a forex chartOpen-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.
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.
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.
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.