Pratik_4Clover

Murreys Math Lines Box OR Ratio Pivots

I'm publishing my second script, though nothing extraordinary, I believe there is user group for Murry Math indies and the only "proper one" (According to my usage) I found was of RicardoSantos, here is the link :

He developed that script in 2014 and it is in need of update to Pine V4 and I'm doing the needful as its user.

All the updates from my end are listed below:
1. Updated to Pine V4
2. Automatic octave selection
3. In auto mode one can switch octave
4. This script is color coded with intention of use on dark theme, one can change the colors to use it on white background with simple few clicks as pinelines have been used

Other thing I want to add is that usage of this is not very clear to many users, so I'll do little explaining here;
Lets start with what is Octave? Octave is basically distance between square of two whole numbers, this is hard-fast method to calculate, Murry has made it far more complicated to use practically. In mathematical formula terms it could be something like this for script trading at 11890 ( CMP )
Step 1: Square Root of CMP i.e Square Root of 11890 = 109.041 = Rounded to 109

Step 2: You can either take one whole number higher or lower than 109, which is 108 or 110. We will take 108

Step 3: Square of 108 = 11664 and Square of 109 = 11881

Step 4: Octave => Distance between (Lowlevel) 11664 and (Higherlevel) 11881

I've automated it so you don't need to calculate, but there is also manual entry possible if you want to calculate octaves yourself, there are different ways to calculate and some like to just take High and Low's of the day or week or month, whatever you like. When I used it I did it strictly this way, so automation is based on it. This is very subjective matter so don't ask to change the calculation of this, if I started doing that every second person would ask me to modify it to different calculation..and thats...just not possible to do.

This is output for calculation we just did above

This is octave shift option (Which basically shifts to next whole number square in above calculation)

Normal nomenclature on octaves and important color codes

+2/8: Extreme overbought = Blue Color and solid line
+1/8: OverBought
8/8: Hardest line to rise above (overbought) = White Color and solid line
7/8: Fast reverse line (weak)
6/8: Pivot reverse line = Yellow Color and solid line
5/8: Upper trading range
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4/8: Major reversal line = Green Color and solid line
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3/8: Lower trading range
2/8: Pivot reverse line = Blue Color and solid line
1/8: Fast reverse line (weak)
0/8: Hardest line to fall below (oversold) = White Color and solid line
-1/8: Oversold
-2/8: Extreme Oversold = Yellow Color and solid line

Other lines that I've not mentioned color codes for are minor and are usually plotted in dotted format.

Resources on complete technique to trade and importance of levels (highly recommended to read carefully before trading), if you don't know how to get this for free don't worry you can just google Murrey math and you will find it somewhere, its just that it would be in little scattered manner.
https://www.scribd.com/doc/77471173/Murr...

Enjoy!
Open-source Skript

Ganz im Sinne von TradingView hat der Autor dieses Skripts es als Open-Source veröffentlicht, damit Trader es verstehen und überprüfen können. Ein Hoch auf den Autor! Sie können es kostenlos verwenden, aber die Wiederverwendung dieses Codes in einer Publikation unterliegt den Hausregeln. Sie können das Skript den Favoriten hinzufügen, um es auf dem Chart zu verwenden.

Möchten Sie dieses Skript auf einem Chart verwenden?

Kommentare

can you please explain how it works?where can i go for trades?
+1 Antworten
why its not working on my chart???
+1 Antworten
@ivanoff2, You will have to provide lot more info and screenshot for me to answer that in any way possible
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very nice,and please update privies high and low square route numbers (it means above high square and below low square) it break any square route its change automatically change sq number automatically . Thanks for advance .
Antworten
Great Job.. Great Maths
Antworten
Thanks a Lot
Antworten
thanks
Antworten
Deserves a thank you.. Owl!!
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