The indicator is derived from the concept of Aurora Candles (Credit to RK Arora)
Description
The script instantly calculates and highlights the largest candle (from high to low) in a user specified lookback period. It then plots the expected support, resistance, supply and demand levels. When a larger candle is printed, it will immediately plot the new levels.
How To Use
Use the indicator to find the largest candle in a specified lookback period.
• As soon as the Aurora candle is printed, future levels are plotted.
• If a larger candle is printed it will reset and create a new roadmap as big money dictates the market.
• The Aurora candle will mirror itself above and below X amount of times based on your settings.
• Colours, levels and lookback period are customizable.
• There is only 1 look back period. You can add more than one indicator if you want to set different lookback periods for long and short term levels.
• Alert function has been added
Access the indicator
• Contact me on TradingView
Notas de Lançamento
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Added the option to include supportive candle levels
Notas de Lançamento
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Added the option to have a coloured background for the strongest supply and demand area
Notas de Lançamento
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Added background fill option for the Aurora Candle body
Notas de Lançamento
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Quarter levels from the Aurora candle's high and low have been added and set to default settings
@geneclash, Thank you for giving access. Is there a tutorial or video or instructions on how to use the indicator. There are many horizontal lines, how to interpret? then theres an highlighted candle. What does it mean. On what timeframe we should use it on indices or on stocks (cash)? Please do respond.
geneclash
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@jayarsh, no tutorials, only people familiar with aurora will understand it. All assets, all timeframes i.e anything
jayarsh
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@geneclash, thank you for the reply. As I don't know how to interpret the aurora candle, I believe I have to study charts with it and conclude. Meanwhile, I request you to inform the pricing details. As this is an open forum, I'm not sure if I should be requesting cost here. Rgds