OPEN-SOURCE SCRIPT

High/Low Location Frequency [LuxAlgo]

The High/Low Location Frequency tool provides users with probabilities of tops and bottoms at user-defined periods, along with advanced filters that offer deep and objective market information about the likelihood of a top or bottom in the market.

🔶 USAGE

Snapshot

There are four different time periods that traders can select for analysis of probabilities:

  • HOUR OF DAY: Probability of occurrence of top and bottom prices for each hour of the day
  • DAY OF WEEK: Probability of occurrence of top and bottom prices for each day of the week
  • DAY OF MONTH: Probability of occurrence of top and bottom prices for each day of the month
  • MONTH OF YEAR: Probability of occurrence of top and bottom prices for each month


The data is displayed as a dashboard, which users can position according to their preferences. The dashboard includes useful information in the header, such as the number of periods and the date from which the data is gathered. Additionally, users can enable active filters to customize their view. The probabilities are displayed in one, two, or three columns, depending on the number of elements.

🔹 Advanced Filters

Snapshot

Snapshot

Advanced Filters allow traders to exclude specific data from the results. They can choose to use none or all filters simultaneously, inputting a list of numbers separated by spaces or commas. However, it is not possible to use both separators on the same filter.

The tool is equipped with five advanced filters:

  • HOURS OF DAY: The permitted range is from 0 to 23.
  • DAYS OF WEEK: The permitted range is from 1 to 7.
  • DAYS OF MONTH: The permitted range is from 1 to 31.
  • MONTHS: The permitted range is from 1 to 12.
  • YEARS: The permitted range is from 1000 to 2999.


It should be noted that the DAYS OF WEEK advanced filter has been designed for use with tickers that trade every day, such as those trading in the crypto market. In such cases, the numbers displayed will range from 1 (Sunday) to 7 (Saturday). Conversely, for tickers that do not trade over the weekend, the numbers will range from 1 (Monday) to 5 (Friday).

To illustrate the application of this filter, we will exclude results for Mondays and Tuesdays, the first five days of each month, January and February, and the years 2020, 2021, and 2022. Let us review the results:

  • DAYS OF WEEK: `2,3` or `2 3` (for crypto) or `1,2` or `1 2` (for the rest)
  • DAYS OF MONTH: `1,2,3,4,5` or `1 2 3 4 5`
  • MONTHS: `1,2` or `1 2`
  • YEARS: `2020,2021,2022` or `2020 2021 2022`


🔹 High Probability Lines

Snapshot

The tool enables traders to identify the next period with the highest probability of a top (red) and/or bottom (green) on the chart, marked with two horizontal lines indicating the location of these periods.

🔹 Top/Bottom Labels and Periods Highlight

Snapshot

The tool is capable of indicating on the chart the upper and lower limits of each selected period, as well as the commencement of each new period, thus providing traders with a convenient reference point.

🔶 SETTINGS

  • Period: Select how many bars (hours, days, or months) will be used to gather data from, max value as default.
  • Execution Window: Select how many bars (hours, days, or months) will be used to gather data from


🔹 Advanced Filters

  • Hours of day: Filter which hours of the day are excluded from the data, it accepts a list of hours from 0 to 23 separated by commas or spaces, users can not mix commas or spaces as a separator, must choose one
  • Days of week: Filter which days of the week are excluded from the data, it accepts a list of days from 1 to 5 for tickers not trading weekends, or from 1 to 7 for tickers trading all week, users can choose between commas or spaces as a separator, but can not mix them on the same filter.
  • Days of month: Filter which days of the month are excluded from the data, it accepts a list of days from 1 to 31, users can choose between commas or spaces as separator, but can not mix them on the same filter.
  • Months: Filter months to exclude from data. Accepts months from 1 to 12. Choose one separator: comma or space.
  • Years: Filter years to exclude from data. Accepts years from 1000 to 2999. Choose one separator: comma or space.


🔹 Dashboard

  • Dashboard Location: Select both the vertical and horizontal parameters for the desired location of the dashboard.
  • Dashboard Size: Select size for dashboard.


🔹 Style

  • High Probability Top Line: Enable/disable `High Probability Top` vertical line and choose color
  • High Probability Bottom Line: Enable/disable `High Probability Bottom` vertical line and choose color
  • Top Label: Enable/disable period top labels, choose color and size.
  • Bottom Label: Enable/disable period bottom labels, choose color and size.
  • Highlight Period Changes: Enable/disable vertical highlight at start of period
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Open-source Skript

Ganz im Sinne von TradingView hat dieser Autor sein/ihr Script als Open-Source veröffentlicht. Auf diese Weise können nun das Script auch andere Trader verstehen und prüfen. Vielen Dank an den Autor! Sie können das Script kostenlos verwenden. Die Nutzung dieses Codes in einer Veröffentlichung wird in unseren Hausregeln reguliert. Sie können es als Favoriten auswählen, um es in einem Chart zu verwenden.

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All content provided by LuxAlgo is for informational & educational purposes only. Past performance does not guarantee future results.
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