Daily Weekly Monthly Yearly Opens/Highs/LowsThe "Daily Weekly Monthly Yearly Opens" indicator is a versatile tool designed to enhance your trading analysis by plotting the opening prices of various timeframes directly onto your charts. By displaying the current daily, weekly, monthly, and yearly opening levels, this indicator helps traders identify key support and resistance zones, facilitating more informed trading decisions.
**Key Features:**
- **Comprehensive Timeframe Coverage:** The indicator plots opening prices for daily, weekly, monthly, and yearly periods, providing a clear view of significant market levels across multiple timeframes.
- **Dynamic Display:** To maintain chart clarity, the indicator intelligently displays:
- Daily opens on intraday timeframes.
- Weekly opens on timeframes less than weekly.
- Monthly opens on timeframes less than monthly.
- **Customizable Visuals:** Users can adjust the color and style of the plotted lines to match their chart preferences, ensuring a personalized and clear visual experience.
- **Historical Reference:** An option to display previous period opens allows traders to analyze how current price action interacts with past opening levels, offering insights into potential support and resistance areas.
- **Alert Functionality:** Set up alerts to be notified when the price crosses any of the plotted opening levels, enabling timely responses to market movements.
Indikatoren und Strategien
Ichimoku Cloud Auto TF🧠 Timeframe Breakdown for Ichimoku Cloud Auto TF
Each timeframe in this indicator is carefully calibrated to reflect meaningful Ichimoku behavior relative to its scale. Here's how each one is structured and what it's best used for:
⏱️ 1 Minute (1m)
Tenkan / Kijun / Span B: 5 / 15 / 45
Use: Scalping fast price action.
Logic: Quick reaction to short-term momentum. Best for highly active traders or bots.
⏱️ 2 Minutes (2m)
Tenkan / Kijun / Span B: 6 / 18 / 54
Use: Slightly smoother than 1m, still ideal for scalping with a little more stability.
⏱️ 5 Minutes (5m)
Tenkan / Kijun / Span B: 8 / 24 / 72
Use: Intraday setups, quick trend capture.
Logic: Balanced between reactivity and noise reduction.
⏱️ 15 Minutes (15m)
Tenkan / Kijun / Span B: 9 / 27 / 81
Use: Short-term swing and intraday entries with higher reliability.
⏱️ 30 Minutes (30m)
Tenkan / Kijun / Span B: 10 / 30 / 90
Use: Intra-swing entries or confirmation of 5m/15m signals.
🕐 1 Hour (1H)
Tenkan / Kijun / Span B: 12 / 36 / 108
Use: Ideal for swing trading setups.
Logic: Anchored to Daily reference (1H × 24 ≈ 1D).
🕐 2 Hours (2H)
Tenkan / Kijun / Span B: 14 / 42 / 126
Use: High-precision swing setups with better context.
🕒 3 Hours (3H)
Tenkan / Kijun / Span B: 15 / 45 / 135
Use: Great compromise between short and mid-term vision.
🕓 4 Hours (4H)
Tenkan / Kijun / Span B: 18 / 52 / 156
Use: Position traders & intraday swing confirmation.
Logic: Designed to echo the structure of 1D Ichimoku but on smaller scale.
📅 1 Day (1D)
Tenkan / Kijun / Span B: 9 / 26 / 52
Use: Classic Ichimoku settings.
Logic: Standard used globally for technical analysis. Suitable for swing and position trading.
📆 1 Week (1W)
Tenkan / Kijun / Span B: 12 / 24 / 120
Use: Long-term position trading & institutional swing confirmation.
Logic: Expanded ratios for broader perspective and noise filtering.
🗓️ 1 Month (1M)
Tenkan / Kijun / Span B: 6 / 12 / 24
Use: Macro-level trend visualization and investment planning.
Logic: Condensed but stable structure to handle longer data cycles.
📌 Summary
This indicator adapts Ichimoku settings dynamically to your chart's timeframe, maintaining logical ratios between Tenkan, Kijun, and Span B. This ensures each timeframe remains responsive yet meaningful for its respective market context.
Value Chart ProValue Chart Pro with Retrace/Reversal modes, WIN RATE table, recent signal filter, and customizable cooldown between signals. Updated to Pine Script v6 with bug fixes.
Quantum Price SignalQuantum Price Signal
This indicator combines square root price analysis with advanced technical filters to identify high-probability trading opportunities. Designed for practical use in real market conditions, it provides both visual signals and a comprehensive dashboard to enhance trading decisions.
Core Technology:
The Quantum Price Signal uses mathematical relationships based on square root price levels to identify key zones where price tends to react. These levels have proven to be powerful areas for reversals and continuations across multiple timeframes.
Detailed Usage Guide:
Signal Interpretation:
Green Triangle (Buy): Appears below candles at potential support levels. Look for these at market bottoms and pullbacks in uptrends
Red Triangle (Sell): Appears above candles at potential resistance levels. Most effective at market tops and rallies in downtrends
Dashboard Elements:
Buy/Sell Signal Quality: Shows relative strength of potential setups
Higher values indicate stronger signals with better probability
Use as comparative measure between different signals
Market Noise: Indicates market choppiness/volatility
Lower readings suggest cleaner price action and more reliable signals
Higher readings indicate choppy conditions requiring wider stops
Trend Direction: Overall market bias
Align trades with this direction for highest probability
Counter-trend trades require stronger signal quality
Near Square Root Level: Confirms price at significant mathematical level
"Yes" reading significantly strengthens any signal
These mathematical levels often act as strong support/resistance
Current Signal: Active trading recommendation
Shows most recent valid signal type
Use to quickly identify the indicator's bias
Practical Trading Applications:
Swing Trading Strategy:
Look for signals at key support/resistance levels
Confirm with trend direction on dashboard
Enter on close of signal candle
Place stops beyond recent swing points
Target next significant level or 1:2 risk-reward
Trend-Following Method:
Only take signals in direction of "Trend Direction"
Wait for pullbacks to Square Root levels
Require "Yes" for Near Square Root Level reading
Enter when signal appears at these levels
Trail stops using prior swing points
Reversal Detection:
Watch for signals against prevailing trend
Must have "Near Square Root Level" showing "Yes"
Confirm with pattern like engulfing or hammer
Look for divergence in momentum indicators
Use tighter stops as these are higher risk trades
Multiple Timeframe Approach:
Identify trend on higher timeframe
Look for signals on lower timeframe
Only take signals that align with higher timeframe trend
Add to position on additional signals in same direction
Exit when signal appears in opposite direction
Volume Confirmation Enhancement:
Check volume on signal candles
Stronger signals should have above-average volume
Low volume signals have higher failure rate
Volume increase on breakouts confirms strength
Volume decline near levels suggests potential failure
This indicator works best when combined with proper risk management and sound technical analysis principles. Use it as a decision support tool rather than an automated system, and always consider the broader market context when making trading decisions.RetryClaude can make mistakes. Please double-check responses.
Borrow Fee & Squeeze TrackerSqueeze tracker.
This script helps identify potential short squeeze setups by detecting two key indicators: unusual volume and significant price changes.
The script combines both volume and price changes to give a more reliable indication of potential squeeze opportunities. When both criteria are met, it signals that there may be unusual market activity. The script also allows you to set up automatic alerts when both the volume and price change exceed thresholds, so you can react quickly to potential opportunities without constantly monitoring the charts.
Once added, you can set an alert:
Click on the Alert button
In the "Condition" dropdown, select the Squeeze Alert that was created.
Set the alert options
Now, when the script detects both a volume spike and a price change spike, it will trigger an alert based on your settings.
Enjoy!
Hanstrading-buysignalbreakoutTrading method based on donchian channel method and breakout strategy.
Buy on big buy signal and sell the entire portfolio on big sell signal reversal. Buy more at pullback points.
Vice versa for bearish trading.
ICT & RTM Price Action IndicatorICT & RTM Price Action Indicator
Unlock the power of precision trading with this cutting-edge indicator blending ICT (Inner Circle Trader) concepts and RTM (Reversal Trend Momentum) strategies. Designed for traders who demand clarity in chaotic markets, this tool pinpoints high-probability buy and sell signals with surgical accuracy.
What It Offers:
Smart Supply & Demand Zones: Instantly spot key levels where the market is likely to reverse or consolidate, derived from a 50-period high/low analysis.
Filtered Reversal Signals: Say goodbye to fakeouts! Signals are confirmed with volume spikes (1.5x average) and a follow-through candle, ensuring you trade only the strongest moves.
Trend-Aware Logic: Built on a customizable SMA (default 14), it aligns reversals with momentum for trades that stick.
One-Signal Discipline: No clutter—only the first valid signal appears until an opposing setup triggers, keeping your chart clean and your focus sharp.
Combined Power: A unique "TRADE" signal merges ICT zones with RTM reversals for setups with double the conviction.
Why You’ll Love It:
Whether you’re scalping intraday or hunting swing trades, this indicator adapts to your style. It’s not just another tool—it’s your edge in decoding price action like a pro. Test it, tweak it, and watch your trading transform.
Engulfing Candle Pattern (Strict)Indicator Name :
Engulfing Candle Pattern (Strict)
Purpose :
The Engulfing Candle Pattern Indicator is designed to identify and visually mark bullish and bearish engulfing patterns on a price chart. These patterns are powerful reversal signals in technical analysis, often used by traders to spot potential trend changes. The indicator ensures strict adherence to the definition of engulfing patterns, making it reliable for identifying high-probability setups.
What It Does :
Identifies Engulfing Patterns :
The indicator scans the price data for candles that meet the criteria of either a bullish engulfing or bearish engulfing pattern .
A bullish engulfing occurs when a green (bullish) candle fully engulfs the body and wicks of the previous red (bearish) candle and closes above its high.
A bearish engulfing occurs when a red (bearish) candle fully engulfs the body and wicks of the previous green (bullish) candle and closes below its low.
Marks Patterns Visually :
Bullish engulfing patterns are marked with a green upward triangle below the candle.
Bearish engulfing patterns are marked with a red downward triangle above the candle.
Optional labels ("Bullish" or "Bearish") provide additional context.
Highlights Candles :
Engulfing candles are highlighted with semi-transparent colors:
Green for bullish engulfing.
Red for bearish engulfing.
Ensures Strict Conditions :
The current candle must fully cover the entire body and wicks of the previous candle.
The current candle must close above the previous candle's high (for bullish) or below the previous candle's low (for bearish).
STH Unrealized Profit/Loss Ratio (STH-NUPL) | [DeV]STH-NUPL
The Short-Term Holder Net Unrealized Profit/Loss Ratio (STH-NUPL) is an analytical tool designed to approximate the unrealized profit or loss of Bitcoin’s short-term holders (STHs)—typically those holding coins for less than 155 days—within the constraints of TradingView’s price-based environment. Drawing inspiration from the canonical STH-NUPL metric, which assesses the difference between the market value and realized value of STH-held coins, this indicator adapts the concept into a normalized ratio using Bitcoin’s price data as a proxy. It offers a window into the sentiment and behavior of short-term market participants, who are often more sensitive to price fluctuations than long-term holders.
In its raw form, STH-NUPL oscillates around a break-even threshold of 0, where positive values indicate aggregate unrealized profits for STHs (market value exceeds realized value), and negative values suggest losses. This inflection point frequently acts as a key level: in bear markets, it can signal capitulation as STHs sell at break-even or below, while in bull markets, it may reflect reluctance to realize losses, providing support. The indicator enhances this metric with smoothing, a moving average overlay, and sophisticated visualization options, delivering a statistically informed perspective on short-term holder dynamics tailored for institutional-grade analysis.
STH-NUPL Settings -
Lookback Length (Default: 150 days): Defines the SMA period for estimating realized value. This 150-day window aligns with traditional STH definitions (e.g., <155 days), capturing a broad yet relevant historical cost basis for short-term holders, ideal for assessing cyclical behavior.
Smoothing Period (Default: 5 days): Applies an EMA to the raw STH-NUPL ratio, with a short default period to maintain responsiveness to recent price shifts while filtering out daily volatility. This setting is particularly suited for tactical analysis.
Moving Average Settings -
MA Lookback Length (Default: 90 days): Sets the period for the STH-NUPL’s moving average, offering a medium-term trend signal that contrasts with the 150-day lookback, enabling detection of momentum shifts within broader market phases.
MA Type (Default: EMA): Provides six moving average types, from the straightforward SMA to the volume-sensitive VWMA. The default EMA balances smoothness and reactivity, while options like HMA or VWMA cater to specialized needs, such as emphasizing recent action or volume trends.
Display Settings -
Show Moving Average (Default: True): Toggles the visibility of the STH-NUPL MA plot, allowing users to focus solely on the smoothed ratio when desired.
Show Background Colors (Default: True): Activates dynamic background shading to visually reinforce market regimes.
Background Color Source (Default: STH-NUPL): Enables users to tie the background to either the STH-NUPL’s midline (reflecting sthNupl > 0) or the MA’s trend direction (maNupl > maNupl ), aligning the visual context with the chosen analytical focus.
Analytical Applications -
Bear Market Capitulation: When the smoothed STH-NUPL approaches or falls below zero, it often signals loss realization among STHs, a precursor to capitulation in downtrends. A declining MA crossing zero can confirm this selling pressure.
Bull Market Support: Positive STH-NUPL values with a rising MA indicate STHs are in profit and reluctant to sell at a loss, forming support zones in uptrends as sell pressure wanes.
Sentiment Extremes: Significant deviations above or below zero highlight over-optimism or despair among STHs, offering contrarian opportunities when paired with price action or other on-chain metrics.
**Limitations**
As a TradingView-based approximation, this indicator uses price data (close) rather than true on-chain STH supply and realized price, which are available through providers like Glassnode. The 150-day SMA for realized value simplifies the cost basis, potentially underrepresenting the diversity of STH transactions. Despite this, the smoothed ratio and moving average overlay provide a practical proxy for tracking STH sentiment within TradingView’s ecosystem.
Porcentaje sobre/debajo SMAsIdentify strong bullish reversals when:
1) Price spends <30% of time below SMA200 (extreme oversold),
2) Confirmed by RSI<20.
EMA Momentum Projection# EMA Momentum Projection 20 50 200
## Overview
Visualizes the relative strength of three EMAs (20, 50, 200) through histogram projections. Measures momentum direction and intensity using slope-based calculations.
## Key Features
- Multi-timeframe EMA comparison
- Customizable projection horizon
- Non-repainting calculations
- Clear histogram visualization
## Parameters
- `Projection Bars`: Forward-looking momentum estimate (1-10)
- `Slope Period`: Historical window for slope calculation (2-20)
## Usage
1. Apply to any market/timeframe
2. Compare histogram heights:
- Green (20EMA): Short-term momentum
- Blue (50EMA): Medium-term force
- Red (200EMA): Long-term bias
3. Look for alignment between timeframes
## Limitations
- Works best with trending instruments
- Requires confirmation with price action
- Not a standalone trading system
## Educational Purpose
Designed to help identify:
- Momentum divergences
- Trend acceleration/deceleration
- Relative strength between time horizons
> Combine with volume analysis and support/resistance levels for best results
*This tool does not predict future prices - it estimates momentum based on historical slope calculations.
Сессии 1 min (Лондон/Нью-Йорк + Close)London/NY Sessions + London Close
*Pine Script v5 - For TradingView*
EN: Visualizes trading sessions per hour:
- LON Open (08-20m) - Blue
- NY Open (28-40m) - Green
- LON Close (44-48m) - Purple
RU: Отображает торговые сессии внутри часа:
- ЛОН Open (08-20 мин) - Синий
- NY Open (28-40 мин) - Зеленый
- ЛОН Close (44-48 мин) - Фиолетовый
Features:
✔ Customizable timing
✔ Works on all timeframes
✔ Session labels
Особенности:
✔ Настройка времени
✔ Все таймфреймы
✔ Подписи сессий
Alert-ready: Use alertcondition()
Для алертов: alertcondition()
Для донатов сбербанк - 4276060043810228
Cross MA Alert 1HThe Moving Average Crossover Indicator is a technical analysis tool designed to identify potential trend changes and trading signals based on the intersection of two moving averages. It typically involves a shorter-period moving average (e.g., 3-day) and a longer-period moving average (e.g., 25-day). When the shorter moving average crosses above the longer moving average, it generates a bullish signal, suggesting a potential upward trend or buying opportunity. Conversely, when the shorter moving average crosses below the longer moving average, it produces a bearish signal, indicating a possible downward trend or selling opportunity. This indicator is widely used by traders to capture momentum shifts and filter out market noise, making it effective for both trend-following and reversal strategies
EMA 20/50/200 FIIlEMA Trend Zone Indicator
Visualize multi-timeframe momentum with dynamic color-coded EMAs
Core Functionality
This indicator plots three Exponential Moving Averages (20, 50, 200 periods) with:
Trend-responsive colors: Each EMA changes color based on its direction
Interactive zones: Two fill areas between EMAs reflecting market alignment
Visual cross alerts: Color shifts highlight potential Golden/Death Cross formations
Key Components
EMA 20: Short-term momentum (Green/Rose)
EMA 50: Medium-term trend (Blue/Orange)
EMA 200: Long-term bias (Purple/Red)
20-50 Zone: Neon Green/Red/Yellow fills showing alignment
50-200 Zone: Blue/Red/Yellow fills indicating trend hierarchy
Practical Applications
Identify confluence between timeframes
Spot early trend reversal signals
Filter false breakouts using zone colors
Confirm momentum shifts across horizons
Usage Guidelines
Apply to preferred chart (works across all markets)
Combine with:
Price action patterns
Volume indicators
Support/resistance levels
Watch for:
Sustained zone color changes
EMA crosses with matching fills
Divergence between zones
Parameters & Customization
Default EMA periods: 20/50/200
Adjustable colors via Style tab
Transparency controls for zones
Limitations
Works best in trending markets
Requires confirmation from price action
Not optimized for sideways conditions
Development Notes
Built using Pine Script v5
No repainted calculations
HTSS v7.1 Advanced [Mum & Formasyon Analizli]karma bir giriş çıkış kodu deniyorum bkalım hayırlısı :)
Multiple EMA Crossover IndicatorMultiple EMA Crossover
Green Background when:
a) EMA50 > EMA100 plus
b) Price > EMA50
Stop Loss / Take Profit Table// (\_/)
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📈 Introducing the Stop Loss / Take Profit Table Indicator! 📈
Enhance your trading strategy with our powerful Stop Loss / Take Profit Table indicator, designed for traders in the Crypto, Stock, and Forex markets. This easy-to-use tool helps you manage risk and maximize profits by clearly displaying your Stop Loss and Take Profit levels based on your trading position.
Key Features:
Custom Asset Types: Choose between Crypto, Stock, or Forex to tailor the indicator to your specific trading style.
Dynamic Stop Loss & Take Profit Calculation: Set your desired Stop Loss percentage, and the indicator will automatically calculate your Stop Loss and two Take Profit levels based on different timeframes (1 min to 240 min).
Position Type Flexibility: Whether you're trading Long or Short, the indicator adjusts the calculations accordingly, providing you with precise price levels for effective risk management.
Visual Representation: Stop Loss and Take Profit levels are marked directly on the chart with distinctive horizontal lines in vibrant colors for easy reference.
Informative Table Display: A dedicated table displayed on the chart shows your asset type, position type, and calculated prices for Stop Loss and Take Profit levels, ensuring you have all critical data at a glance.
Alert Notifications: Stay informed with optional alerts that signal when your Stop Loss or Take Profit levels are hit, allowing you to react swiftly in fast-moving markets.
Why Use This Indicator?
Managing your trades is critical for success in the financial markets. With our Stop Loss / Take Profit Table, you can easily set your parameters and visually track your risk and reward levels, making it a practical addition to any trader's toolkit.
Get started today and take control of your trading strategy! ✨
Happy trading! 📊🚀
Oracle Prediction Futur
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Indicator Description: Oracle Prediction Futur
The Oracle Prediction Futur is a sophisticated technical indicator designed for traders and analysts looking to gain insights into market trends through the analysis of price movements. This Pine Script™ code integrates innovative elements to enhance the trading experience and is governed by the Mozilla Public License 2.0.
Key Features:
Normalization of Closing Prices:
The indicator normalizes closing prices over a defined lookback period (100 periods) to provide a percentage-based representation of the current price relative to its historical range. This helps in identifying potential price extremes.
Peak and Trough Detection:
It identifies and plots peak tops and bottom troughs based on normalized closing values. Peak tops are marked with vibrant magenta circles, while peak bottoms are indicated by soothing cyan circles, helping traders visually spot significant turning points in the price action.
Dynamic Background Gradient:
The indicator features a visually appealing gradient background that represents market sentiment. The background color transitions between bear and bull colors based on the position of the normalized close within the 0-100 range. This provides an immediate visual cue about the strength or weakness of the market.
Horizontal Reference Lines:
The indicator includes horizontal lines at key levels (9.51 and 92.5) for quick reference, which can help to gauge areas of potential support or resistance.
User-Friendly Visuals:
The combination of background colors, dynamic plots, and clear labeling offers a user-friendly visual representation, making it easier to interpret market conditions at a glance.
Overlay Options:
As an overlay-free indicator, it maintains clarity on the price chart while providing insightful trends and forecasts.
Practical Application:
Traders can utilize the Oracle Prediction Futur indicator to identify potential entry and exit points in their trading strategies. By observing the peaks, troughs, and background color shifts, users can better understand market momentum and price action.
How to Use:
Deploy this indicator on your trading platform, and analyze the peaks and troughs along with the normalized close line and background gradient to inform your trading decisions. Look for alignment between price action and the signaling provided by the indicator for optimized trading results.
Multi-Timeframe EMAsMulti Timeframe EMA's
The 'Multi-Timeframe EMA Band Comparison' indicator is a tool designed to analyze trend direction across multiple timeframes using Exponential Moving Averages. it calculates the 50, 100, and 200 period EMAs for fiver user defined timeframes and compares their relationships to provide a visual snapshot of bullish or bearish momentum.
How it Works:
EMA Calculations: For each selected timeframe, the indicator computes the 50, 100, and 200 period EMAs based on the closing price.
Band Comparisons: Three key relationships are evaluated:
50 EMA vs 100 EMA
100 EMA vs 200 EMA
50 EMA vs 200 EMA
Scoring System: Each comparison is assigned a score:
🟢 (Green Circle): The shorter EMA is above the longer EMA, signaling bullish momentum.
🔴 (Red Circle): The shorter EMA is below the longer EMA, signaling bearish momentum.
⚪️ (White Circle): The EMAs are equal or data is unavailable (rare).
Average Score:
An overall average score is calculated across all 15 comparisons ranging from 1 to -1, displayed with two decimal places and color coded.
Customization:
This indicator is fully customizable from the timeframe setting to the color of the table. The only specific part that is not changeable is the EMA bands.
M2 Global Liquidity Index (Candles) - Shifted 77 Days Forwardthis is 11 weeks delayed version of m2 supply chart in candle bars published by KevinSvenson_
ADR Nivele Horizontale dhe EMAThe user provided a Pine Script code for an indicator called "ADR Nivele Horizontale dhe EMA". The task is to explain how this code works. Hmm, first, I need to understand what this indicator does. The title mentions ADR levels and EMA, so it's probably combining horizontal lines based on Average Daily Range and some Exponential Moving Averages.
Looking at the code, the first part is the indicator declaration with version 6. The settings include an ADR period, levels above and below the mid, and line style. Then there's a section for calculations. They request daily high and low to compute the daily range. The ADR is the SMA of the daily range over the specified period. The mid is the average of daily high and low. The adr_val is half of ADR, maybe to create symmetrical levels around the mid.
Next, they create arrays for lines and labels above and below the mid. The loops go from 1 to levels_above/below, calculate each level, draw lines and labels. The mid line is also drawn with a different color. Then, there are several EMAs plotted: 13, 50, 200, 400, 600, 800, each with different colorsWait, but in Pine Script, when you use arrays to store lines and labels, you have to manage them properly to avoid repainting or memory issues. The code uses array.concat to add new lines and labels each bar. However, since this code is running on each bar, the for loops might be creating multiple lines each time, leading to too many objects. Oh right, but they use var to initialize the arrays, so they are only initialized once. Wait, no. The var keyword initializes the variable once, but in each iteration, they are concatenating new lines. Wait, no: the for loops are inside the main script, which runs on each bar. So every time a new bar is processed, the loops will run again, adding new lines and labels. That's a problem because each bar would create new lines, leading to an ever-increasing number of lines, which could hit the maximum limit (max_lines_count is set to 20, but maybe they have more bars). Oh, the indicator has max_lines_count=20, but the code might be creating multiple lines per bar. So maybe the code isn't handling the line management correctly. For example, if levels_above is 2, then each bar would create 2 new lines above and 2 below, plus the mid line. Over 20 bars, that's way over 20 lines. So this could cause the indicator to stop drawing after 20 lines. The user might not have realized that the lines are being recreated every bar, leading to a buildup. But perhaps the original code intended to have the lines update each bar, extending to the current bar. Let's see: in line.new, they use bar_index as the starting x1 and bar_index as x2. So each line is drawn from the previous bar's index to the current one. But since this is done on every bar, each line is only one bar long. Wait, no. Because on each new bar, the code creates a new line from the previous bar's index (bar_index , which is now the bar before the current one) to the current bar_index. So each line is just a segment from the previous bar to the current bar. But when the next bar comes, a new line is created again. So the result is that each level line is a series of one-bar-length segments, which might not be intended. The user probably wants continuous lines that extend from the left to the right, not just per bar. So this approach is incorrect. The correct way would be to have a line that starts at the first bar of the calculation and extends to the right, updating each bar. But the current code creates a new line each bar, leading to multiple short lines instead of one continuous line. That's a mistake.
So the main issue here is that the code is generating a new line segment for each bar, which is not efficient and would quickly hit the line limit. To fix this, instead of creating a new line every bar, they should create the line once and then update its position each bar. But in Pine Script, you can't directly update a line after it's created; instead, you need to track the line ID and use line.set_xy() to extend it. However, the current code uses array.concat to add new lines each bar, which isn't the right approach.
Therefore, the code as written will create multiple short lines instead of continuous horizontal lines. The correct approach for horizontal levels that extend to the right is to create the line once, starting at a certain bar and extending indefinitely, or to update the line's end point each new bar. But in Pine Script, you can't extend lines infinitely; you have to manage them each bar. Alternatively, using the 'line.extend' style might help, but I think the original code's logic is flawed here.
Additionally, the EMA part is straightforward: plotting multiple EMAs with different periods. That part should work as expected.
So the explanation should mention that the ADR levels are calculated based on the daily high and low, then the code attempts to draw horizontal lines above and below the mid-point. However, the way the lines are drawn may lead to multiple short segments instead of continuous lines, potentially causing performance issues or hitting the maximum line count. The EMAs are plotted correctly with various periods..
