- The script leverages Pine Script to calculate the midpoint (50%) of the previous candle's high and low. This midpoint acts as a crucial level for traders to identify potential support and resistance. The same logic is applied to daily, weekly, monthly, quarterly, and yearly timeframes, offering a multi-dimensional perspective on price action.
The script identifies and marks the previous high and low points for these timeframes, which are essential for breakout and breakdown strategies. It also tracks and prints the opening levels for various periods, helping traders gauge market sentiment from the open.
- Apply the Tren10x 50%er Script Lite to your TradingView chart.
- Customize the timeframes and levels according to your trading strategy.
- Use the custom timeframe feature to set specific periods for 50% and high/low levels.
- Observe the plotted 50% lines and opening levels to identify potential areas of support and resistance.
- Utilize the previous high and low markers to spot breakout or breakdown points.
- Incorporate these levels into your trading strategy for entry and exit points.
- Monitor price reactions around these critical levels for potential trade setups.
Este script se publica con código cerrado, pero puede utilizarlo libremente. Márquelo como favorito y podrá usarlo en un gráfico. El código fuente no se puede ver ni modificar.