OPEN-SOURCE SCRIPT
Price breaks
Updated
This indicator displays the High/Low/Close of the previous day/week/month as horizontal lines. Of course, everything is configurable but to keep it simple and non-intrusive it only displays:
These levels act as support / resistance over and over again, see current (08/24/2020) BTCUSD chart, the previous month's close (blue circles) did act as support and held on 08/11, also prev month's high (red circles) was not broken on 08/21. Once these levels break we might see lower prices but so far both of them act as good support to consider.
- month's H/L/C levels on D time frame (drawn as circles)
- week's levels on 4h (as crosses)
- day's levels on 1h (as line)
These levels act as support / resistance over and over again, see current (08/24/2020) BTCUSD chart, the previous month's close (blue circles) did act as support and held on 08/11, also prev month's high (red circles) was not broken on 08/21. Once these levels break we might see lower prices but so far both of them act as good support to consider.
Release Notes
Add a small feature to display month/week/day's price levels on all intraday time frames. Enabled by default and customizable in Settings.Release Notes
- Upgrade script to Pine 5 and rewrite logicRelease Notes
Configurable history settings for all time frames (D, W, M) and all price levels (H, L, C).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 publication is governed by House rules. You can favorite it to use it on a chart.
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