Mid Price Ray

Aug 28, 2025

# Mid Price Ray Indicator

A professional trading indicator that draws rays from the midpoint of price bars, designed to help traders identify potential support and resistance levels.

## Key Features

1. Timeframe-Specific Colors
- Customizable colors for different timeframes:
- 5 minutes
- 15 minutes
- 30 minutes
- 1 hour
- 4 hours
- 1 day
- 1 week
- Default color setting for unlisted timeframes

2. Ray Customization
- Three line styles:
- Solid
- Dashed
- Dotted
- Adjustable line width (1-4 pixels)
- Configurable ray length
- Infinite extension (length = 0)
- Fixed length (user-defined)

3. Dynamic Calculation
- Automatically calculates midpoint from previous bar's high and low
- Updates in real-time with each new bar
- Efficient memory management with automatic cleanup

4. Visual Clarity
- Customizable transparency levels
- Clean and professional appearance
- Automatic color adaptation based on timeframe

## Applications

1. Support/Resistance Identification
2. Price Action Analysis
3. Multi-timeframe Analysis
4. Trend Following
5. Range Trading

## Notes

- Optimized for real-time trading
- Compatible with all TradingView timeframes
- Memory-efficient design
- Professional-grade visualization

This indicator is particularly useful for traders who want to track price midpoints across different timeframes while maintaining a clean and organized chart layout.

Nov 5, 2025

Release Notes

Summary of Changes

- Added a timeframe input tfInput = input.timeframe(title="选择周期", defval="60") to let you choose the source timeframe for the mid-price.
- Replaced the previous-bar mid-price with request.security(syminfo.tickerid, tfInput, hl2[1], barmerge.gaps_off, barmerge.lookahead_off) , so it uses the selected timeframe’s last completed bar.
- Moved the request.security(...) call outside conditional blocks to satisfy Pine’s dynamic request restriction.
- Updated color selection to key off tfInput in getRayColor() , mapping 5/15/30/60/240/D/W to the corresponding colors.
- Preserved line drawing behavior: when rayLength == 0 it extends to the right; otherwise it draws a fixed-length segment; rayStyle and rayWidth still apply.
- Indicator short name is MPR ; the title is simplified to a concise name.
Behavior

- Regardless of the chart timeframe, the ray’s price level is the midpoint of the previous bar from tfInput . For example, on a 5-minute chart with tfInput set to 60 , the ray uses the previous 1-hour bar’s midpoint.
- The ray’s X anchor stays at the chart’s bar_index - 1 ; only the Y level comes from the selected timeframe.
Notes

- barmerge.lookahead_off ensures values come from completed higher-timeframe bars.
- If you want the ray’s X anchor to align to the selected timeframe bar’s close time, we can add time-based bar_index alignment.