OPEN-SOURCE SCRIPT

Multi Timeframe Candle/Retracement (MTCR)

Atualizado
This script provides a visual representation of candlestick and pivot point information from higher timeframes within a lower timeframe chart. It is ideal for traders looking to analyze price movements and identify potential support and resistance zones in the context of a broader timeframe.

Key Features:

Multi-Timeframe Candlestick Visualization:
  • Displays candlesticks of the selected higher timeframe.
  • Highlights bullish and bearish candles with distinct colors to identify trends.


Pivot Point Analysis:
  • Calculates and visualizes pivot points based on the standard or Fibonacci model.
  • Supports customizable step sizes (rounding pivot values).
  • Highlights resistance levels (R1, R2, R3), support zones (S1, S2, S3), and a central base line.


Medians and High/Low Zones:
  • Visualizes median lines between pivot levels.
  • Optionally displays high and low zones.


Dynamic Updates:
  • Automatically updates lines and boxes with new candles or pivot calculations.
  • Visually marks when the current price touches key levels.


Settings:

Timeframe Selection:
  • Choose a higher timeframe for candlestick and pivot point visualization.


Customizable Colors:
  • Adjust colors for bullish and bearish candles, as well as for pivot point zones.


Flexible Display Options:
  • Display only the desired elements, such as pivot lines, median lines, high/low zones, or the base line.


Use Cases:
  • Identify key support and resistance zones using pivot points.
  • Analyze price movements on higher timeframes while trading on lower ones.
  • Utilize median lines to find potential reversal zones or areas for risk/reward analysis.


Notes:
  • This script is designed for advanced users with a solid understanding of multi-timeframe analysis and pivot points.
  • It uses multiple drawing objects (lines, boxes), so ensure your chart does not hit its drawing object limit.


Good luck with your trading! 🚀
Notas de Lançamento
Show Levels separately
multitimeframePivot Points

Script de código aberto

No verdadeiro espírito do TradingView, o autor desse script o publicou como código aberto, para que os traders possam compreendê-lo e analisá-lo. Parabéns ao autor! Você pode usá-lo gratuitamente, mas a reutilização desse código em publicações é regida pelas Regras da Casa. Você pode favoritá-lo para usá-lo em um gráfico.

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