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
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
Versionshinweise:
Added the option to include supportive candle levels
Versionshinweise:
Added the option to have a coloured background for the strongest supply and demand area
Versionshinweise:
Added background fill option for the Aurora Candle body
Versionshinweise:
Quarter levels from the Aurora candle's high and low have been added and set to default settings