Daily Divider

20 thg 11, 2024

What does this script do?

The “Daily Divider” script provides a visual tool for traders who need to divide their daily charts into clear intervals and label the days of the week. This is especially useful for identifying time-based patterns or conducting technical analysis on charts with timeframes lower than a day.

Key Features:

1. Customizable Day Dividers:
• Draws vertical lines on the chart to mark the start of each new day.
• Lines are fully customizable in terms of color, style (solid, dotted, or dashed), and visibility.
2. Day Name Labels:
• Displays labels on the chart indicating the day of the week.
• Day names can be fully customized with user-defined abbreviations.
3. Advanced Customization Options:
• Adjust the color and size of the label text.
• Configure a margin to position the labels above the highest price of the day.
• Enable or disable the labels and dividers as needed.
4. Ease of Use:
• Designed for daily or lower timeframes.
• Ideal for traders operating intraday strategies, scalping, or analyzing specific intra-day movements.

How does it work?

• Detects day changes using the built-in dayofweek function.
• Draws a vertical line on the chart when a new day is detected.
• Uses labels to display the day name with a clean and clear design, automatically positioned above the highest price.

Why is it useful?

• Enhances visual clarity on intraday charts by separating trading days.
• Helps traders quickly identify time-based patterns or recurring events associated with specific days of the week.
• Increases customization to fit individual trading styles and preferences.

Practical Use Case:

An intraday trader can use this script to divide the chart into days and observe how the price of an asset evolves on specific days, such as Mondays or Fridays. Additionally, with labels, it becomes easy to correlate these movements with weekly recurring events.

24 thg 11, 2024

Phát hành các Ghi chú

What does this script do?

The “Daily Divider” script provides a visual tool for traders who need to divide their daily charts into clear intervals and label the days of the week. This is especially useful for identifying time-based patterns or conducting technical analysis on charts with timeframes lower than a day.

Key Features:

1. Customizable Day Dividers:
• Draws vertical lines on the chart to mark the start of each new day.
• Lines are fully customizable in terms of color, style (solid, dotted, or dashed), and visibility.
2. Day Name Labels:
• Displays labels on the chart indicating the day of the week.
• Day names can be fully customized with user-defined abbreviations.
3. Advanced Customization Options:
• Adjust the color and size of the label text.
• Configure a margin to position the labels above the highest price of the day.
• Enable or disable the labels and dividers as needed.
4. Ease of Use:
• Designed for daily or lower timeframes.
• Ideal for traders operating intraday strategies, scalping, or analyzing specific intra-day movements.

How does it work?

• Detects day changes using the built-in dayofweek function.
• Draws a vertical line on the chart when a new day is detected.
• Uses labels to display the day name with a clean and clear design, automatically positioned above the highest price.

Why is it useful?

• Enhances visual clarity on intraday charts by separating trading days.
• Helps traders quickly identify time-based patterns or recurring events associated with specific days of the week.
• Increases customization to fit individual trading styles and preferences.

Practical Use Case:

An intraday trader can use this script to divide the chart into days and observe how the price of an asset evolves on specific days, such as Mondays or Fridays. Additionally, with labels, it becomes easy to correlate these movements with weekly recurring events.