All Time High (ATH) Levels [LuxAlgo]

12 thg 3, 2024

The All Time High (ATH) Levels indicator displays a user-set amount of historical all-time high levels made on the user's chart, highlighting potential key price levels.

Displayed levels can be filtered out based on their duration, as well as their relative distance from each other.

The script also evaluates the role a level might have as a support or resistance using a percentage, classifying ATH levels as either support or resistance depending on the result.

🔶 USAGE



On certain assets market participants give a high level of attention to all-time highs made by an asset, with the most pertinent example being Bitcoin.



Previous all-time highs can play important roles as psychological price levels, with the most recent ones often offering major resistance points, and older ones being used as support.



Users can filter out temporary ATHs using the ATH Minimum Duration setting, removing any ATH that lasts less than the user-specified number of bars. Higher values of this setting effectively preserve ATHs that become distinguishable peaks. These can offer more significant support/resistance levels.



When displaying each historical level some of them can be very close to each other. Users can use the "Minimum Distance Between ATH" setting to filter out levels too close to each other, with higher values of this setting returning more spaced levels. Distances are first evaluated from the most recent ATH. Note that this setting can cause repainting.

🔹 SR Classification



The script evaluates the ability of an ATH level to act as a support or resistance since its occurrence, and measures its strength as a percentage, with higher percentage values suggesting a stronger support or resistance.

Levels classified with "R" suggest that the price was located below the level most of the time, indicative of a resistance, while a level classified with "S" suggests that the price was located above the level most of the time, indicative of a support.



Percentages between 99% to 50% are often indicative of supports/resistances being tested, while values below 50% reflect more centered levels. A value of 100% suggests that an ATH level was not tested enough. users can filter out any level with a percentage below the "Minimum %" setting.

🔶 SETTINGS

• Show Last ATH: Specify the amount of most recent ATH's to display.
  
• ATH Minimum Duration: Minimum duration (in bars) of an ATH, that is the minimum number of bars that must elapse before another ATH can be made.
  
• Minimum Distance Between ATH: Minimum distance between displayed ATH levels, starting from the most recent ATH. This distance is a multiple of the average true range.
  

🔹 SR Classification

• Show SR%: Show percentage as well as ATH level classification.
  
• Minimum %: Minimum percentage values required to display an ATH level.
  

12 thg 3, 2024

Phát hành các Ghi chú

Minor changes

12 thg 3, 2024

Phát hành các Ghi chú

- Fixed replay mode not working
- Fixed location related issues