OVERVIEW This indicator automatically identifies and progressively draws daily percentage levels, normalized to the first market bar.
Percentages are one of the most common ways to measure price movement (outside price itself). Being able to visually reference these levels helps contextualize price action, in addition to giving us a glimpse into how algos might "see" the market.
This script is most useful on charts with smaller time frames (1 to 5 minutes). This is not ideal for medium or larger time frames (greater than 5 minutes).
INPUTS You can configure: • Line size, style, colors and maximum length • Label colors and visibility • Fractional and intra level visibility • Bidirectional zone parameters (custom range and extended anomalies) • Normalization source • Price Proximity features • Market Hours and Time Zone
INSPIRATION Broad Assumptions: • +/- 70% of days move 1%, 20% of days move 1-2%, and 10% of days have moves exceeding 2%. • +/- 10-20% of days trend, with moves ≥ 1%. • All trading strategies are effectively scalping, mean reversion, or trend. • Humans program algos to capitalize on these assumptions, using percentages to mange / execute trades.
• Added ability to set the normalized source to be either Todays Open or Yesterdays Close. • Added Eighths as an incremental level option. • Added ability to set the labels to be either Percentage, Basis Points, or Value Delta.
Notas de prensa
• Added ability to set the normalized source to be Each New Session. • Added tooltips to display the value of each level when you hover over a given label. • Added ability to set the normalized source interval to always 1 Minute regardless of the current charts interval, or always the Same Interval as Chart. Selecting 1 Minute will show the same zero / scale values regardless of timeframe, and selecting Same Interval as Chart will adjust the zero / scale values based on the charts timeframe.
Notas de prensa
• Bug Fix: Yesterdays Close was referencing the close from 2 days ago. It now references the close from 1 day ago (aka. yesterday).
Notas de prensa
• Changed the default Time Zonefrom America/New_York to syminfo.timezone to make switching between securities that do not share time zones easier.
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.
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.