HT: Weekly LevelsIndicator draws several most important weekly levels on the lower timeframe: last week high/low, halfback, week close and current week open. These levels often act as support/resistance for price movements. Also, they can help to assess week character and control of power.
Indicator can be used on any timeframe, lower than weekly, for any type of instrument, including futures. It also provides an option to draw levels for any selected week back in time.
Important notes:
• Levels for the last week are drawn after the new week opens.
• Half-back is calculated as a middle line between week High and Low.
Parameters:
Date – user can select date, belonging to week, for which levels will be plotted. Works only if “Use” check box is on. Otherwise, levels will be plotted for the last week. (“time” value doesn’t matter; unfortunately, there is no way to hide the input box)
Time zone – your chart time zone (as UTC offset). Only needed if you use “Date” parameter.
Visuals – controls visibility and colors
Script is published as an open source. It uses two libraries: Levels Lib and Functions Lib. First one demonstrates how to work with pine-script object model and arrays. You can also reuse it in your custom scripts where there is need to construct any support/resistance levels. The second library contains some useful functions for working with time and dates.
Disclaimer
This indicator should not be used as a standalone tool to make trading decisions but only in conjunction with other technical analysis methods.
Weeklylevels
Week designationThe script is primarily used for visualizing the beginning and end of the week. It is particularly helpful when working with time intervals shorter than one day. In a very simple and clear manner, you can see when a specific week has started. This makes it easier to assess the market sentiment in a short timeframe.
Here are the operating principles of this script:
Initialization:
The script begins with initialization, where basic parameters and settings such as line colors and line style are defined.
Determining the Session Start:
The startSession(hour, minute) function is used to calculate the starting time of a session on the chart. Sessions can be divided into different time intervals, such as the daily session (D), weekly session (W), and monthly session (M).
Checking for Session Start:
The script checks if a new session is starting. If so, a vertical line is inserted on the chart to mark the beginning of that session.
isSessionStart checks for the start of the daily session.
isSessionStart_2 checks for the start of the weekly session.
isSessionStart_3 checks for the start of the monthly session.
Marking Mondays:
The script checks if the current day is Monday (the day of the week number 2 represents Monday).
If the current session is starting or it is Monday, a vertical line is inserted on the chart with the day designation (color color_day).
Marking Lines on the Chart:
The lines inserted on the chart are vertical and have a specified style and color, which can be customized in the settings.
Simple Trader - LevelsThis indicator plots the below levels in the chart.
Note: This is not a buy/sell recommendation. Reach Simple Trader to understand how to trade these levels.
Current day open,
Prev. day close,
Prev. day high,
Prev. day low.
Prev. week high,
Prev. week low,
Prev. month high,
Prev. month low.
Daily and Weekly Moving Averages on Daily ChartThis script is designed to be used on Swing and Position style approaches.
Based on moving averages that I use with the integration of a weekly moving average that is visible on the daily chart /all timeframes.
The moving averages are:
9EMA;
21EMA;
10 week SMA ;
50EMA;
150EMA;
and 200EMA.
Base script from CaptainBrett with Matt Caruso's chat with Richard Moglen showing me that this can be done on Tradingview. When searching for the script, I couldn't find it within the public library.
Please Enjoy
[astropark] price levelsDear Followers,
today another awesome Analysis Tool, that you can use in your trading journey: Price Levels !
Are you a range trading player? a scalper? or maybe a day-trader or a swing-trader? This is for you then. Indeed it's for everyone.
This indicator works on every timeframe, market and pair.
It keeps track of recent important levels generated by price action:
Monday high, low and middle range level
Tuesday high and low
Wednesday high and low
Thursday high and low
Friday high and low
Weekly open, high and low
Monthly open, high and low
Yearly open, high and low
Previous weekly open, high and low
Previous monthly open, high and low
Previous yearly open, high and low
You can:
choose price levels to hide and show
change each level color / thickness / display style (solid or dotted)
choose to show or hide price labels and change their size
Why such indicator should be helpful? How can I use it to do profit?
In multiple ways! Let's talk about Monday Range :
when Monday range is formed, price acceptance below Monday low is a bearish signal, so will more likely want to short / sell
equally price acceptance above Monday high is a bullish signal, so will more likely want to long / buy
it can happen that Monday high is simply retested, with price not being able to stay above it: this is called a retest (in case of a simple wick) or a deviation (in case of price staying above the level just for some candles) and what usually happens is price falling back to Monday middle range level and even back to Monday low.
the opposite can happen of course: you will become bullish if Monday low is tested or a deviation appears below Monday low: price tends to bounce on such occasions back to Monday middle range or even Monday high
Tuesday is usually a marker day within a trading week:
if Monday was pretty bullish, Tuesday high may mark the weekly top, following some red days
if Monday was pretty bearish, Tuesday low may mark the weekly bottom, following some green days
Thursday is the day when big players start to take profits, as the trading week is going to end the next day, so in an all-green week Thursday may be a red one, while in an all-red week it may be a bullish day
Thursday is the day when big players start to take profits, as the trading week is going to end the next day:
in an all-green week, Thursday may be a red one and it's low tends to mark the weekly low
while in an all-red week, it tends to be a bullish day, so here you will refill your shorts for the next blooding day
Let's talk now about the Weekly, Monthly and Yearly price levels : here it is the interesting part for Swing Traders
Weekly open is usually a defining level: on retest, if price keeps staying below then more downside is expected, if price keeps staying above then more upside is expected (similarly to what we said about Monday high and low)
Monthly and Yearly open price levels are usually a "no-brainer" buy level in a bullish trend or equally a sell level in a bearish trend: in this scenarios, a deviation structure is even more powerful in term of price reaction and efficiency
We trade Weekly, Monthly and Yearly high and low price levels as explained for the Monday high and low, but with a swing traders perspective (so a medium-long term trade)
Previous Weekly/Monthly/Yearly price levels are usually very useful as targets in your trades
Here below some screenshots that resumes what said above.
Weekly Open as support (bullish) and Monday High deviation (bearish)
Tuesday High, Weekly Open failing as support: bearish
Monday Low deviation (bullish)
Price Acceptance above Monday High and Weekly Open (bullish)
Yearly Open retests as buy opportunities
Deviation below Monthly Open (bullish), Price Acceptance below Monthly and Yearly Open (bearish)
This is a premium indicator , so send me a private message in order to get access to this script.
Key Levels SpacemanBTC IDWMKey levels, plotted automatically
Additional timeframes can be added on request
Useful for seeing strength of the trend in the market
