Description:
Introducing the "RMB - High and Low" indicator, a versatile and powerful tool designed for traders who seek a comprehensive view of the market across multiple time frames. This indicator is tailored to identify and display key support and resistance levels, adapting to your chosen time frame - from as short as 15 minutes to as long as a week.
Key Features:
Ideal Use Cases:
Conclusion:
The "RMB - High and Low" indicator is a must-have tool for traders who demand flexibility and precision in their technical analysis. By offering insights across various time frames, this indicator empowers you to make well-informed decisions, adapt to market changes swiftly, and enhance your trading performance.
Introducing the "RMB - High and Low" indicator, a versatile and powerful tool designed for traders who seek a comprehensive view of the market across multiple time frames. This indicator is tailored to identify and display key support and resistance levels, adapting to your chosen time frame - from as short as 15 minutes to as long as a week.
Key Features:
- Multi-Time Frame Flexibility: Easily switch between 15 minutes, 30 minutes, 1 hour, 2 hours, 4 hours, daily, and weekly time frames to align with your trading strategy and market analysis.
- Dynamic Support and Resistance Levels: The indicator plots the highest high (resistance) and the lowest low (support) for the selected time frame, providing real-time insights into market behavior and potential pivot points.
- Time Frame-Specific Labels: Each resistance and support line is labeled with the corresponding time frame, offering a clear and immediate reference, enhancing your chart analysis and decision-making process.
- User-Friendly Interface: A simple and intuitive input interface allows for quick adjustments, making it easy to toggle between different time frames based on your trading needs.
- Visual Clarity: Designed with distinct color coding - green for resistance and red for support - ensuring that key levels are easily identifiable at a glance.
Ideal Use Cases:
- Day Trading: Utilize shorter time frames to capture quick market movements and identify intraday pivot points.
- Swing Trading: Leverage longer time frames to understand broader market trends and establish entry and exit points.
- Diverse Strategies: Whether you're scalping, trend following, or employing mean reversion tactics, adapt the indicator to fit your unique approach.
Conclusion:
The "RMB - High and Low" indicator is a must-have tool for traders who demand flexibility and precision in their technical analysis. By offering insights across various time frames, this indicator empowers you to make well-informed decisions, adapt to market changes swiftly, and enhance your trading performance.
Release Notes:
This TradingView script, titled "RMB - High and Low," is designed to plot the highest high (resistance) and lowest low (support) levels for a user-selected time frame on the chart. It also adds lines connecting these levels and labels displaying the selected time frame.
Functionality: The script effectively allows users to visualize key support and resistance levels for different time frames, which is valuable for various trading strategies.
User-Friendliness: The input option for selecting the time frame and clear labeling of resistance and support lines make the script user-friendly.
Customization: The script provides lines connecting support and resistance levels, which can be visually helpful for traders.
Functionality: The script effectively allows users to visualize key support and resistance levels for different time frames, which is valuable for various trading strategies.
User-Friendliness: The input option for selecting the time frame and clear labeling of resistance and support lines make the script user-friendly.
Customization: The script provides lines connecting support and resistance levels, which can be visually helpful for traders.
Release Notes:
I added the option to show the High and Low as a line.
You can set the lines of the H and L on different timeframes individually.
Try to only show the new line without showing the candle sticks.
You can turn the lines on and off.
You can set the lines of the H and L on different timeframes individually.
Try to only show the new line without showing the candle sticks.
You can turn the lines on and off.
Release Notes:
Fixed some minor bugs.