greenmask9

Strongholds - Objective & Accurate Reference Points / Structures

Very early in my trading career, I came across Pivot Points only to find out that there are as many calculations as one pleases. It was hard to find out which ones work. Most of them probably did only out of randomness, so I ditched the strategy and looked for something else.

I previously used my Oracle Eye and Reference Points scripts but it is time for an upgrade.

Stronghold is a script I have used for quite some time now. I ditched daily and weekly closing prices as not that important. Instead, Strongholds are equipped with:

►Daily High & Low • Azure color
►Weekly High & Low • Dark blue
►Weekly old High & Low • Semi-transparent dark circles
►Monthly High & Low • Wizardly purple

There is an option to print:

►4h High & Low • Semi-transparent red
►VWAP • Lovely purple
►Weekly VWAPBlack

All of the levels and lines are set for 1m, 5m, 10m, 15m, 30m, 1h, 4h, 1D timeframes. If you use any alien timeframe, you may need to enter the code.

You can opt-in and out for certain timeframes. For example, daily levels are visible from 15m or 30, so the indicator won't draw them unless you want to. However, they will not be seen on higher timeframes as there is no reason to show them and oversaturate the chart with lines.

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Remember that if you use this script with auto-scale, you need to tick Scale Price Chart Only. Otherwise, your chart will fly to the moon!

Good luck & have fun!


Release Notes: Added an option to select either close 30m range (default) or open 30m range (good for stocks).
Release Notes: Added time settings for the initial balance (open/close)
Skript med en öppen källkod

I sann TradingView-anda har författaren till detta skript publicerat det som öppen källkod, så att handlare kan förstå och verifiera det. Skål för författaren! Du kan använda den gratis men återanvändning av den här koden i en publikation regleras av våra Ordningsregler. Du kan göra den till favorit för att använda den i ett diagram.

Vill du använda det här skriptet i ett diagram?

Kommentarer

Been using this script for few weeks now. Must say that its an awesome work.
The way price respects certain levels gives confidence in trading.
+1 Svara
greenmask9 abhinarayan95
@abhinarayan95, Tanks. It took a lot of time to identify the levels that are worth having on the chart.
Svara
Great script. Any plans to make this work for 4h and 1h structure, would be great for scalping.
Svara
@Kada11, There used to be 4h but I removed it. I haven't found a way to utilize it and it is good to keep the chart clean and scripts optimized.
Svara