Support & Resistance Trendlines with PP + Fib. Channel█ Support & Resistance Trendlines with Pivot Points + Fibonacci Channel
This script automatically draw support and resistance trend lines based on pivot points and add a fibonacci channel.
It will show potential patterns with the help of support and resistance lines as well as breakout target and pullback entry with the fibonacci extension and retracement levels.
It is based on atolelole's script, I only made it more configurable so please check out his script.
I added the possibility to change values and add additional retracement and extension levels.
I also made it customizable with the possibility to change lines color, width and style.
Retracement
ABC 123 Harmonic Ratio Custom Range Interactive█ OVERVIEW
This indicator was designed based on Harmonic Trading : Volume One written by Scott Carney.
This is about harmonic ratios which expanded through retracement and projection.
Derivation is pretty much explained here such as Primary, Primary Derivation, Secondary Derivation and Secondary Derivation Extreme.
Derivation value depends on minimum retracement or maximum projection.
This derivation value utilize Fibonacci value which later expand to Harmonic Ratio.
█ INSPIRATION
Inspired by design, code and usage of CAGR . Basic usage of custom range / interactive, pretty much explained here . Credits to TradingView.
This build is based and visualized upon Harmonic Trading Ratios.
This build also was stripped down from XABCD Harmonic Pattern Custom Range Interactive .
█ CREDITS
Scott Carney, Harmonic Trading : Volume One (Page 18)
█ FEATURES
Table can positioned by any position and font size can be resized.
Labels can be either changed to alphabets or numbers.
█ HOW TO USE
Draw points from Point A to Point C.
Dont worry about magnet, point will attached depends on High or Low of the candle.
█ USAGE / TIPS EXAMPLES (Description explained in each image)
ZigZag with Retracement LevelsThis is a modification to "ZigZag with Fibonacci Levels" by LonesomeTheBlue.
By default, the script finds the ZigZag, draws Fibonacci lines and labels accordinly. ZigZag period can be set.
The modification to the original script provides the following features:
1) Option for user to customize retracement levels, if they don't want to use Fibonacci levels. This allows for different strategy adoptions.
2) Option to show Fibonacci or custom retracement levels based on the latest pivot (including the current bar)
For example:
Enjoy and happy trading~!!
50% Strat RetracementThe purpose of this script is to show/alert you when there is a 50% Strat Reversal. It works very well to find possible 3 candles.
The arrows, and line can be turned on and off.
You can change the 50% to say 45% so that you will be alerted before it actually hits the 50% retracement.
The script will only alert if the reversal is a 2up red candle, a 2up green candle which will hopefully turn into a 3 candle.
High and Low Fibonacci Pivot PointsThis is a standard fibonacci retracement level indicator and free to use for all. I couldn't find any decent retracement levels that works for me (and definitely wasted money on paid script access that didn't work so well for my trading style), so I created this for my own use and now sharing it with the TradingView community. Fibonacci retracement levels help traders predict key areas where a stock/security may find support or resistance. The common ratios are available, such as 23.6, 38.2, 61.8 and so forth. You can choose from Day, Week or Month for your fibonacci retracement lines. In order to keep in sync with my particular style of keeping charts nice and clean, I've created this indicator with defaults to use friendly color schemes. You can of course, choose another color, etc... that fits your own taste. All of my published scripts utilize TradingView's version 5 scripting.
Main Features:
- Show or hide pre-market high and lows (the pre-market high & lows are hidden by default)
- Show or hide the 1-hour 20 EMA line (hidden by default, as this is more uncommon than the 1-hour 50 EMA line for potential support or resistance)
- Show or hide the 1-hour 50 EMA line
- Show or hide the fibonacci retracement lines (the 50% line is hidden by default)
- Option to allow the fibonacci retracement lines to start out the first few minutes of market open to use the pre-market high & low. Once the stock/security price breaks either the pre-market high or pre-market low, it reverts to using the day's high and low. This only works on chart timeframes under the daily time frame.
FYI:
All customizable settings have a help/info window. Please refer to the help/info window, if you're unsure of what a setting does what. Also, note that I wrote and published this script after market close, so I haven't had the chance to check/test if everything works, which can only be fully verified during market open hours (for non-crypto securities).
* Please note that this script is in its early beta stage and there could be bugs. This is being provided as is and the information provided by this script is meant for informational/entertainment purposes only.
Chervolinos_Rob Hoffman_Inventory Retracement Bar_and_OverlayHere is something like a combo from the well known Rob Hoffman (Overlay) Indicator and the Inventory Retracement Bar without any ballast
This really smart strategy with a low risk and a quick profit. I combine this two Indicators to save space.
The first condition is that the orange line and the lime line must be parallel and there is no other line between them because this condition is moving under 45 angle.
The second condition is that the target candles must be below the orange line in the case of the downtrend as we see.
As we see it here in the case of an uptrend should be candles above the orange line and this is logical as we see here.
Sometimes we noticed the appearance of the signal onto the candle but the conditions were not applicable because there is an orange line between the green line and the orange line and this means that the signal is fake.
This candle is also good for entry and we can place a buy order above it but is it beginner, so you must respect the conditions in order to be able to master it very well.
Enter with Confidence all conditions are present a red arrow above the candle and the candle is above the orange line and there are no lines between the lime and
orange line. Yes this is our target the entry-point will be a little above the wicked the candle, that is you will not buy now but it's a price exceeds the weight limit
even slightly, we will buy directly it is hoffman's method. Expected if the price in which resistance occurred which is the resistance represented
by the candlewick will be broken the price for rise up and strongly and if it does not happen you will not lose anything anyway to stop loss and take profit. Try the ratio by 1,5.
This part of this strategy is one of the best trading strategies with a low risk rate and can be used as an initial guide to know the market movement and to enter successful trades.
Let's start correctly. This strategy can be used on any time frame from one minute to one day or even more, but I recommend using it on a 10-minute frame one hour or 30 minutes frame. Here I use the 30-Minute frame.
This strategy is based on two things: Tramp Direction and the inventory retracement bar. Don't worry and don't think about it because all this will be automatic but let's understand some simple terms.
There many arrows in green and red. Please read the discription above.
Please read the following tipps:
To avoid the trend Reversal, try to add one one of the Divergence indicators to your chart.
To avoid entering in a pullback movement as much as possible.
--> Combine it with other indicators <--
Best Regards Chervolino
if there were any typographical errors, please forgive me
Note: Buy/Sell signals using non-standard chart types (Heikin Ashi, Renko, Kagi, Point & Figure, and Range) are not allowed, as they produce unrealistic results
.srb suite Fib Retracement neoSPECIAL TOOLS - Auto Fibonacci Retracement neo - New GUI
designed for use with open-source indicator
'built-in auto FBR ' has been re-born
It shows - retracement Max top/ min bottom ; for higher visibility
It shows - current retracement position ; for higher visibility
The display of the Fib position that exceeds the regular range is auto-determined according to the price.
Fib.Retracement core is from tradingview built-in FBR ---> upgrade new-type GUI, and performance tuned.
.srb suiteThe essential suite Indicator.
that are well integrated to ensure visibility of essential items for trading.
it is very cumbersome to put symbol in the Tradingview chart and combine essential individual indicators one by one.
Moreover even with such a combination, the chart is messy and visibility is not good.
This is because each indicator is not designed with the others in mind.
This suite was developed as a composite-solution to that situation, and will make you happy.
designed to work in the same pane with open-source indicator by default.
Recommended visual order ; Back = .srb suite, Front = .srb suite vol & info
individually turn on/off only what you need on the screen.
BTC-agg. Volume
4 BTC-spot & 4 BTC-PERP volume aggregated.
It might helps you don't miss out on important volume flows.
Weighted to spot trading volume when using PERP+spot volume .
If enabled, BTC-agg.Vol automatically applied when selecting BTC-pair.
--> This is used in calculations involving volumes, such as VWAP.
Moving Average
1 x JMA trend ribbon ; Accurately follow short-term trend changes.
3 x EMA ribbon ; zone , not the line.
MA extension line ; It provide high visibility to recognize the direction of the MA.
SPECIAL TOOLS
VWAP with Standard Deviation Bands
VWAP ruler
BB regular (Dev. 2.0, 2.5)
BB Extented (Dev. 2.5, 3.0, 3.5)
Fixed Range Volume Profile ; steamlined one, performace tuned & update.
SPECIAL TOOLS - Auto Fibonacci Retracement - New GUI
'built-in auto FBR ' has been re-born
It shows - retracement Max top/ min bottom ; for higher visibility
It shows - current retracement position ; for higher visibility
The display of the Fib position that exceeds the regular range is auto-determined according to the price.
tradingview | chart setting > Appearance > Top margin 0%, Bottom margin 0% for optimized screen usage
tradingview | chart setting > Appearance > Right margin 57
.srb suite vol & info --> Visual Order > Bring to Front
.srb suite vol & info --> Pin to scale > No scale (Full-screen)
Visual order ; Back = .srb suite, Front = .srb suite vol & info
1. Fib.Retracement core is from tradingview built-in FBR ---> upgrade new-type GUI, and performance tuned.
2. Fixed-range volume-profile core is from the open-source one ---> some update & perf.tuned.
---------------------------------------------------------------------------------------------------------------------------------------
if you have any questions freely contact to me by message on tradingview.
but please understand that responses may be quite late.
Special thanks to all of contributors of community.
The script may be freely distributed under the MIT license.
Intra-variety Timeframe Floating Fibonacci Levels [Loxx]Intra-variety Timeframe Floating Fibonacci Levels is an intraday, intraweek, and intramonth indicator to be used for scalping on lower timeframes. The indicator paints the developing fibonacci retracement levels as they change overtime over the selected intra-variety timeframe chosen. This indicator acts as another way to gauge support and resistance levels.
What Are Fibonacci Retracement Levels?
Fibonacci retracement levels—stemming from the Fibonacci sequence—are horizontal lines that indicate where support and resistance are likely to occur.
Each level is associated with a percentage. The percentage is how much of a prior move the price has retraced. The Fibonacci retracement levels are 23.6%, 38.2%, 61.8%, and 78.6%. While not officially a Fibonacci ratio, 50% is also used.
The indicator is useful because it can be drawn between any two significant price points, such as a high and a low. The indicator will then create the levels between those two points.
Suppose the price of a stock rises $10 and then drops $2.36. In that case, it has retraced 23.6%, which is a Fibonacci number. Fibonacci numbers are found throughout nature. Therefore, many traders believe that these numbers also have relevance in financial markets.
Fibonacci retracement levels were named after Italian mathemetician Leonardo Pisano Bigollo, who was famously known as Leonardo Fibonacci. However, Fibonacci did not create the Fibonacci sequence. Fibonacci, instead, introduced these numbers to western Europe after learning about them from Indian merchants. Fibonacci retracement levels were formulated in Ancient India between 450 and 200 BCE.
Details
-Change Fibonacci levels
-Select day, week, or month timeframe
Titans Engulfing Retracement ZonesThe Titan Engulfing Retracement Zones indicator detects Engulfing Candlesticks on a higher user defined timeframe, and uses that event to plot retracement and extension levels on the chart for ease of users' chart reading and trade execution. The four retracement levels, two of which delimit the target entry zone, and another two delimiting the target exit zone, are also user defined.
The user of this indicator is advised that the default levels provided are unoptimized. The user of this indicator is advised to use this indicator at his or her own risk.
To further filter out the results of Engulfing Candlestick detection, a long wick condition has been included into the detection mechanics.
15m Retracement CalculatorVer. 1.00
- A simple to use script that gives you an objective way to view the market
Take Profit ScreenerI'm going to introduce you to the Take Profit Screener tool.
It allows you to manually scan your watchlist to determine at a glance the assets that have the best profitability potential.
It is a 2 in 1 tool that allows you to :
identify where your Take Profit ratios are located whether you are in SHAD or Cycle Strategy
identify the potential reward percentages when approaching the key Fibonacci levels
Before you start using it, you need to:
sort your watchlist according to the price (Last) in order to have price ranges more or less close to each other when jumping from a symbol to another
disable the Auto Scale and Magnet feature
select your first symbol
display the tool (the indicator more exactly)
The settings dialog box is organised in 3 sections:
Strategy : By setting this section, you will answer the question " Where do my Take Profit ratios stand in relation to my entry price, and according to Risk Management Strategy adopted (SHAD or Cycle)? "
Fibonacci : By setting this section, you will answer the question " What percentage gain can I expect as I approach one of the key Fibonacci levels? "
Layout : This is the settings for the look and feel
Strategy Section
Active : This part of the indicator won't display on your chart if unchecked
Type : Choose between SHAD or Cycle Strategy. When choosing SHAD, you can select 2, 4, 8 or 16 SHAD Levels. When choosing Cycle, you can enter whatever ratio value you wish in the Strategy Ratio (Cycle only) input.
SHAD xNN : When choosing SHAD Strategy, you should select at least one level and more if need be.
Strategy Ratio (Cycle only) : When choosing Strategy Type Cycle, you can enter whatever ratio value you wish there.
Freeze Entry Price & Value : Leave it unchecked whenever the current price of the asset is located within your desired area (i.e. Reload Zone) while attempting to estimate its potential reward. Conversely, keep it checked whenever the current price of the asset is outside your desired area, but you need to anticipate the potential reward of this asset if its price reaches a certain level, your Entry price. Enter this price there and check the box.
Show price : If checked, both Take Profit ratio and Price are displayed. If unchecked, then price is hidden.
Extend Line : If checked, then lines showing Take Profit levels extend to the left.
Label Offset : If checked, then the label that displays Take Profit ratio and price shift to the right by a value that ranges from 0 to 100 candles.
Label Style : You can choose between Right or Top. This will determine the orientation of the label.
Fibonacci Section
Active : This part of the indicator won't display on your chart if unchecked
Type : Choose between SHAD or Cycle Strategy. When choosing SHAD, you can select 2, 4, 8 or 16 SHAD Levels. When choosing Cycle, you can enter whatever ratio value you wish in the Strategy Ratio (Cycle only) input.
SHAD xNN : When choosing SHAD Strategy, you should select at least one level and more if need be.
Strategy Ratio (Cycle only) : When choosing Strategy Type Cycle, you can enter whatever ratio value you wish there.
Freeze Entry Price : Leave it unchecked whenever the current price of the asset is located within your desired area (i.e. Reload Zone) while attempting to estimate its potential reward. Conversely, keep it checked whenever the current price of the asset is outside your desired area, but you need to anticipate the potential reward of this asset if its price reaches a certain level, your Entry price. Enter this price there and check the box.
Color : You can define the color of Fibonacci line levels
Volume Spike Retracement█ OVERVIEW
-Following many people's request to add "Volume" mode again in my "Institutional OrderBlock Pressure" script. I decided to release an improved
and full-fledged script. This will be the last OB/Retracement script I will release as we have explored every possible way to find them.
█ HOW TO INTERPRET?
-The script uses the the 0.5 Pivot and the maximum value set for Volume Length to find 'Peak Volume'. Once these conditions are met,
the script starts creating a Retracement Line.
-By default, the Volume Length value is set to 89, which works well with most Timeframes following the OrderBlocks/Retracements
logic used in my scripts.
-You have the option to set Alerts when the "Volume Spike Limit" is reached or when a Price Crossing with a Line occurs.
█ NOTES
- Yes Alerts appear instantly. Moreover, they are not 'confirmed', you must ALWAYS wait for confirmation before making a choice.
Good Trade everyone and remember, risk management remains the most important!
AB=CD Pattern Educational (Source Code)This indicator was intended as educational purpose only for AB=CD Patterns.
AB=CD Patterns were explained and modernized starting from The Harmonic Trader and Harmonic Trading: Volume One until Volume Three written by Scott M Carney.
Indikator ini bertujuan sebagai pendidikan sahaja untuk AB=CD Pattern.
AB=CD Patterns telah diterangkan dan dimodenkan bermula dari The Harmonic Trader dan Harmonic Trading: Volume One hingga Volume Three ditulis oleh Scott M Carney.
Indicator features :
1. List AB=CD patterns including ratio and reference page.
2. For desktop display only, not for mobile.
Kemampuan indikator :
1. Senarai AB=CD pattern termasuk ratio and rujukan muka surat.
2. Untuk paparan desktop sahaja, bukan untuk mobile.
FAQ
1. Credits / Kredit
Scott M Carney
Scott M Carney, Harmonic Trading: Volume One until Volume Three
2. Pattern and Chapter involved / Pattern dan Bab terlibat
Ideal AB=CD - The Harmonic Trader - Page 118 & 129
Standard AB=CD - The Harmonic Trader - Page 116, 117, 127 & 128, Harmonic Trading: Volume One - Page 42, 51, Harmonic Trading: Volume Three - Page 76 & 78
Alternate AB=CD - The Harmonic Trader - Page 142 & 145, Harmonic Trading: Volume One - Page 62, 63
Perfect AB=CD - Harmonic Trading: Volume One - Page 64 & 66
Reciprocal AB=CD - Harmonic Trading: Volume Two - Page 74 & 76
AB=CD with ab=cd - The Harmonic Trader - Page 149 & 153
AB=CD with BC Layering Technique - Harmonic Trading: Volume Three - Page 81 & 84
3. Code Usage / Penggunaan Kod
Free to use for personal usage but credits are most welcomed especially for credits to Scott M Carney.
Bebas untuk kegunaan peribadi tetapi kredit adalah amat dialu-alukan terutamanya kredit kepada Scott M Carney.
Bullish / Bearish Ideal AB=CD
Bullish / Bearish Standard AB=CD
Bullish / Bearish Alternate AB=CD
Bullish / Bearish Perfect AB=CD
Bullish / Bearish Reciprocal AB=CD (Additional value for reciprocal retracement 3.140 and 3.618)
Bullish / Bearish AB=CD with ab=cd
Bullish / Bearish AB=CD with BC Layering Technique
Harmonic Trading Ratios Educational (Source Code)This table indicator was intended as educational purpose only for Harmonic Trading Ratios.
The ratios are used for Harmonic AB=CD and XAB=CD.
Ratio calculation are shown for Retracement and Projection based Primary, Primary Derived, Secondary Derived and Secondary Derived Extreme.
Primary Retracement : 0.618
Primary Projection : 1.618
Please take note that Secondary Derived Extreme is only available for Projection.
Indikator berjadual bertujuan sebagai pendidikan sahaja untuk Harmonic Trading Ratios.
Ratio digunakan untuk Harmonic AB=CD and XAB=CD.
Pengiraan ratio untuk Retracement and Projection adalah berdasarkan Primary, Primary Derived, Secondary Derived dan Secondary Derived Extreme.
Primary Retracement : 0.618
Primary Projection : 1.618
Sila ambil perhatian bahawa Secondary Derived Extreme adalah untuk Projection sahaja.
The values shown in table was based on Harmonic Trading: Volume One, Page 18 written by Scott M Carney.
Nilai yang ditunjukkan dalam jadual adalah berdasarkan buku Harmonic Trading: Volume One, Page 18 ditulis oleh Scott M Carney.
Indicator features :
1. List Harmonic Trading Ratios including calculation.
2. Show and draw individual Harmonic Trading Ratio.
3. For desktop display only, not for mobile.
Kemampuan indikator :
1. Senarai Harmonic Trading Ratios termasuk pengiraan.
2. Memapar dan melukis Harmonic Trading Ratio secara berasingan.
3. Untuk paparan desktop sahaja, bukan untuk mobile.
FAQ
1. Credits / Kredit
Scott M Carney,
Scott M Carney, Harmonic Trading: Volume One
2. Code Usage / Penggunaan Kod
Free to use for personal usage but credits are most welcomed especially for credits to Scott M Carney.
Bebas untuk kegunaan peribadi tetapi kredit adalah amat dialu-alukan terutamanya kredit kepada Scott M Carney.
Display for Bullish / Bearish Retracement
Paparan untuk Bullish / Bearish Retracement
Display for Primary Retracement and Primary Projection
Paparan untuk Primary Retracement and Primary Projection
Display for Secondary Derived Extreme Retracement and Secondary Derived Extreme Projection
Paparan untuk Secondary Derived Extreme Retracement and Secondary Derived Extreme Projection
EMA Price DistanceEMA Price Distance, EMAPD for short, is a trend following indicator that can help you predict how price is going to move, in respect to your EMA. It can give overbought and oversold signals, as well as ranging market and retracement signals. The indicator consists of three parts, the Difference Line, the Average Line, and the Histograms.
- The blue line is the Difference Line. It is calculated from difference between the close price and the EMA. An increasing Difference Line indicates price moving further away from the EMA.
- The purple line is the Average Line. It is calculated based on the average of the difference Line for a certain lookback period.
- The Histograms are the difference between the Difference Line and the Average Line
Some basic signals:
- The easiest signal to spot is when the Difference Line is further away from the Average Line than normal. This usually signifies a retracement in the near future.
- Another signal is when the histograms are making smaller peaks or troughs, approaching 0. Signifies that price is retracing towards EMA. This can also be seen when the Difference Line is below the Average Line
How to Use:
The first use case is to detect when the market is ranging. This can be seen when both lines near 0 like so:
Another use case, is to use the indicator to signify how strong the current trend is / how likely it is to continue. This is signified by the Difference Line and Average line making higher highs
We can see that as the trend continues, both lines increase in harmony.
EMAPD can also be used to give easy to see signs of retracement or reversal.
Here we can see that the Difference line made a lower high as well as crossed below the Average Line. Whether this is a retracement or reversal usually depends on how the long the trend has occurred. The longer, the more likely of a trend reversal
One of the best use cases is to keep you out of bad trades. This usually happens right before a trend starts, when the market is choppier. This is when you usually get a lot of fake outs and false signals.
Here are 2 examples of where someone trading Supply and Demand would've been kept out of a losing trade.
In the first purple oval, a supply zone is formed. As price re enters the zone, it would be tempting to go long but the EMAPD is creating lower lowers on the histograms, signifying that price is moving closer to its average instead of expanding. We also get the Difference Line to cross under the average line, signifying price is moving closer to the EMA than it has been recently. These signals tell us that price has a good chance to "re group" with the EMA, which it ends up doing.
This also kept us out of the second trade, signified by the second purple oval. Here, we can see the difference line creating lower lows, signaling that price is moving closer to the EMA.
Support and ResistanceThis indicator shows three types of support and resistance lines: Horizontal, Parallel (using linear regression) and Fibonacci Retracement. Lines can be adjusted or turned on and off in settings. A great tool for setting up entries, exits and locating pivot points.
Martyv Auto Fib Retracement with Logarithmic SupportSimple & easy auto-fib levels. Took the out-of-the-box version provided by TradingView and added Logarithmic support and a nicer palette, and made the controls a bit nicer to use (in my opinion lol). Enjoy.
3 Auto Fibonacci RetracementsThe Indicator displays 3 different Auto Fibonacci Retracements with top, bottom, the 0.618 and 0.382 levels.
Also it displays 3 Moving Averages with the same length as the AutoFibos.
If the MA over the 0.618 level it colors itself yellow, if between 0.618 ans 0.382 white and under 0.382 blue.
The green lines are the top of the AutoFibos, red lines the bottom, blue lines are resistance/supports and yellow lines are stronger resistance/supports.
Example - MA-Cross Retracement DetectionThe retracement tracker function(s) in this script outline how to:
Track conditions using "toggle" booleans.
Use multiple coinciding conditions to trigger an event just once.
What is a retracement?
"Retracements are temporary price reversals that take place within a
larger trend. The key here is that these price reversals are temporary
and do not indicate a change in the larger trend."
Quote Source: www.investopedia.com
Gann RetracementThe indicator is based on W. D. Gann's method of retracement studies. Gann looked at stock retracement action in terms of Halves (1/2), Thirds (1/3, 2/3), Fifths (1/5, 2/5, 3/5, and 4/5) and more importantly the Eighths (1/8, 2/8, 3/8, 4/8, 5/8, 6/8, and 7/8). Needless to say, {2, 3, 5, 8} are the only Fibonacci numbers between 1 to 10. These ratios can easily be visualized in the form of division of a Circle as follows :
Divide the circle in 12 equal parts of 30 degree each to produce the Thirds :
30 x 4 = 120 is 1/3 of 360
30 x 8 = 240 is 2/3 of 360
The 30 degree retracement captures fundamental geometric shapes like a regular Triangle (120-240-360), a Square (90-180-270-360), and a regular Hexagon (60-120-180-240-300-360) inscribed inside of the circle.
Now, divide the circle in 10 equal parts of 36 degree each to produce the Fifths :
36 x 2 = 72 is 1/5 of 360
36 x 4 = 144 is 2/5 of 360
36 x 6 = 216 is 3/5 of 360
36 x 8 = 288 is 4/5 of 360
where, (72-144-216-288-360) is a regular Pentagon.
Finally, divide the circle in 8 equal parts of 45 degree each to produce the Eighths :
45 x 1 = 45 is 1/8 of 360
45 x 2 = 90 is 2/8 of 360
45 x 3 = 135 is 3/8 of 360
45 x 4 = 180 is 4/8 of 360
45 x 5 = 225 is 5/8 of 360
45 x 6 = 270 is 6/8 of 360
45 x 7 = 315 is 7/8 of 360
where, (45-90-135-180-225-270-315-360) is a regular Octagon.
How to Use this indicator ?
The indicator generates Gann retracement levels between any two significant price points, such as a high and a low.
Input :
Swing High (significant high price point, such as a top)
Swing Low (significant low price point, such as a bottom)
Degree (degree of retracement)
Output :
Gann retracement levels (color coded as follows) :
Swing High and Swing Low (BLUE)
50% retracement (ORANGE)
Retracements between Swing Low and 50% level (RED)
Retracements between 50% level and Swing High (LIME)
Tradespot - S&R SuiteTradespot - S&R Suite
No configuration needed, works out the box
Dynamically created S&R lines & zones based on ongoing price action
Dynamically created fibonnaci retracement lines to create your trading range
Completely open to building a core trading strategy upon
Want to know more or have questions? Come join the Tradespot community, or send me a message on TradingView.
AK collection area- Based on Coach AK formula of determining collection area of retracement stock.
- If price below collection area, collect in tranches.
