OPEN-SOURCE SCRIPT
Price Action Ultimate
Actualizado
The Price Action Ultimate indicator is an innovative tool designed to provide traders with a comprehensive view of price action based on either volume or touches. By default, the indicator displays touches, offering a unique perspective on price levels that have been frequently interacted with by the market.
At its core, the indicator divides the price range of a specified lookback period into a number of rows (default 25). For each row, it calculates either the volume traded or the number of times the price touched that level. This data is then visualized in two ways: as a histogram and as horizontal lines on the chart.
The histogram, displayed on the right side of the chart, represents the distribution of touches (or volume) across different price levels. Each bar in the histogram shows the number of touches and the percentage of total touches for that price level. The color of the bars ranges from a user-defined low activity color to a high activity color, providing a quick visual reference for the most active price levels.
The horizontal lines drawn across the chart represent the most significant levels based on touches (or volume). By default, the indicator displays the top 3 levels, but this can be adjusted. The thickness of these lines corresponds to the relative importance of each level - thicker lines indicate more touches or higher volume. This feature allows traders to quickly identify key support and resistance levels based on historical price action.
One of the most innovative aspects of this indicator is the option to fade older levels over time. When enabled, this feature gradually increases the transparency of lines as they age, with newer levels appearing more prominently. This helps traders focus on the most recent and relevant price action while still maintaining awareness of older, potentially significant levels.
The indicator offers flexibility in its display options. Users can choose to show levels based on volume, touches, or both. This allows traders to compare and contrast different perspectives on price action. Additionally, the indicator includes options to display a volume profile and a background fill for the analysis range, further enhancing its visual appeal and informational content.
What makes this indicator particularly valuable is its ability to provide a clear, uncluttered view of key price levels without relying on complex calculations or multiple indicators. It distills price action down to its essence - where price has spent the most time or where the most trading activity has occurred. This can be incredibly useful for identifying potential support and resistance levels, areas of consolidation, or possible breakout points.
For traders focused on price action strategies, this indicator offers a powerful tool to enhance their analysis. It provides a data-driven approach to identifying significant price levels, which can be used to inform entry and exit decisions, set stop losses, or anticipate potential market reactions.
This indicator is a tool to aid in market analysis and should not be used as the sole basis for trading decisions. Always combine multiple forms of analysis and practice proper risk management when trading. Past performance does not guarantee future results.
At its core, the indicator divides the price range of a specified lookback period into a number of rows (default 25). For each row, it calculates either the volume traded or the number of times the price touched that level. This data is then visualized in two ways: as a histogram and as horizontal lines on the chart.
The histogram, displayed on the right side of the chart, represents the distribution of touches (or volume) across different price levels. Each bar in the histogram shows the number of touches and the percentage of total touches for that price level. The color of the bars ranges from a user-defined low activity color to a high activity color, providing a quick visual reference for the most active price levels.
The horizontal lines drawn across the chart represent the most significant levels based on touches (or volume). By default, the indicator displays the top 3 levels, but this can be adjusted. The thickness of these lines corresponds to the relative importance of each level - thicker lines indicate more touches or higher volume. This feature allows traders to quickly identify key support and resistance levels based on historical price action.
One of the most innovative aspects of this indicator is the option to fade older levels over time. When enabled, this feature gradually increases the transparency of lines as they age, with newer levels appearing more prominently. This helps traders focus on the most recent and relevant price action while still maintaining awareness of older, potentially significant levels.
The indicator offers flexibility in its display options. Users can choose to show levels based on volume, touches, or both. This allows traders to compare and contrast different perspectives on price action. Additionally, the indicator includes options to display a volume profile and a background fill for the analysis range, further enhancing its visual appeal and informational content.
What makes this indicator particularly valuable is its ability to provide a clear, uncluttered view of key price levels without relying on complex calculations or multiple indicators. It distills price action down to its essence - where price has spent the most time or where the most trading activity has occurred. This can be incredibly useful for identifying potential support and resistance levels, areas of consolidation, or possible breakout points.
For traders focused on price action strategies, this indicator offers a powerful tool to enhance their analysis. It provides a data-driven approach to identifying significant price levels, which can be used to inform entry and exit decisions, set stop losses, or anticipate potential market reactions.
This indicator is a tool to aid in market analysis and should not be used as the sole basis for trading decisions. Always combine multiple forms of analysis and practice proper risk management when trading. Past performance does not guarantee future results.
Notas de prensa
Minor Update: The color logic has been modifiedNotas de prensa
Minor Update: Added price levels to histogram bars, as suggested by DL Invest.Notas de prensa
Munor bug fixedNotas de prensa
Minor bug fixed.Notas de prensa
Minor bugs fixedNotas de prensa
Minor UpdateNotas de prensa
Minor update: Backgrounds added between lines to enhance key level visibility.Notas de prensa
Minor UpdateNotas de prensa
Small bug fixedNotas de prensa
Minor Update: Line display logic replaced with zone display for better consistencyNotas de prensa
Small bug fixedNotas de prensa
Bug correctedNotas de prensa
Bug correctedNotas de prensa
Bug fixedNotas de prensa
Small bug fixedScript de código abierto
Siguiendo fielmente el espíritu de TradingView, el autor de este script lo ha publicado en código abierto, permitiendo que otros traders puedan entenderlo y verificarlo. ¡Olé por el autor! Puede utilizarlo de forma gratuita, pero tenga en cuenta que la reutilización de este código en la publicación se rige por las Normas internas. Puede añadir este script a sus favoritos y usarlo en un gráfico.
¿Quiere utilizar este script en un gráfico?
The trend is your friend, until it's not...
Exención de responsabilidad
La información y las publicaciones que ofrecemos, no implican ni constituyen un asesoramiento financiero, ni de inversión, trading o cualquier otro tipo de consejo o recomendación emitida o respaldada por TradingView. Puede obtener información adicional en las Condiciones de uso.