Compared to all the Indicators available on Trading View Public Library, this Floor Indicator differentiates itself in two major original ways:
- Dilates the Levels into Bands based on
- Displays the S/R Levels Dynamically, that is, only those levels will be shown that are close enough to the price resulting in much cleaner looking charts.
- Showing at the same time (not possible due to Pine Script’s limitation on the ‘Max Number of Outputs’)
- Automatic Detection of highly profitable Double Hot Zones ( DPZ ), also due to the ‘Max Number of Outputs’ limit
GENERAL USER INPUTS:
Most of the settings are self-explanatory, however, a few of them need some explanation:
- Show Floor Dynamically – This will turn ON the dynamic levels, please note that this function will work ONLY IN INTRADAY timeframes.
- Dynamic ATR Period – Period over which the ATR value is calculated to show the dynamically.
- ATR Threshold for Dynamic Floor – Simply put, the indicator will start displaying Levels if they fall within the 2*ATR distance (default value) of the price. You can increase this number if the increases and vice-versa.
- Use ATR to Dilate Intraday Levels – This will turn ON Floor Dilation, turning ‘lines’ into ‘bands’.
- ATR Dilation Factor – This number decides the width of the bands. Larger this number, thicker the bands. Typically, high stocks will require a higher number.
- ATR Period – Same as Dynamic ATR Period, but for Level Dilation.
INDICATOR USAGE EXAMPLES:
This indicator works great in conjunction with my Pivot Boss Scanner indicator.
There are a lot of optimizations I have done in the code, although it looks trivial at first glance, but it's fairly complex.
Feel free to use it and modify it as you wish.
Here are a few examples where the indicator has shown great entries and exits, with the default settings:
NIFTY 5m Chart
Reliance 5m Chart
Tesla 5m Chart
Bitcoin-USDT 15m Chart
- Please understand that I have Cherry Picked the examples to showcase the capability of the indicator and its usage.
- DO NOT conflate the accuracy of examples with the accuracy of this indicator.
- Once you start using floor , you will realize that a lot of days simply don’t give any high probability setups and you will simply sit out of the market and do nothing (which is a good thing).
- If you really want to learn how to use , read the book ’Secrets of a Boss’. This book can change your life.
Ganz im Spirit von TradingView hat der Autor dieses Skripts es als Open-Source veröffentlicht, damit Trader es besser verstehen und überprüfen können. Herzlichen Glückwunsch an den Autor! Sie können es kostenlos verwenden, aber die Wiederverwendung dieses Codes in einer Veröffentlichung unterliegt den Hausregeln. Sie können es als Favoriten auswählen, um es in einem Chart zu verwenden.