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MTF Key Levels - Support and Resistance

This indicator shows how to Multi Time Frame (MTF) interpret levels:

Watch how price acts around these levels and how they can act as support/resistance and can be used as great confluence levels for your technical analysis .


This indicator displays:

VWAP Levels

Daily / Weekly / Monthly / Yearly
Within the chart above I have marked out how displaying these VWAP levels can provide support and resistance levels to be aware of.


Daily – Weekly - Monthly – Yearly Levels

O = Open / H = High / L = Low
pO = Previous Open / pH = Previous High / pL = Previous Low / pEQ = Previous Equlibrium

Having previous Low/High levels makes you aware of Swing Failure Patterns (SFP). Also the daily/weekly/monthly opening and previous opening can assist with the trend.

Daily Open: Gives you an idea who is in control for the day. This level very often acts as strong support or resistance.
Weekly Open: Indicates where the price is within the higher timeframe.
Monthly Open & Yearly Levels: Overview of direction for the whole month without looking at a monthly chart and Yearly chart


Line Options

Within the line options you can choose to have a clean chart and display a “short line”. These line length can be adjusted by the user.
Line just to the right.
Line across the screen.


Disclaimer: The Monthly and Yealy VWAP will only show on higher timeframes this is due to restriction of how many candles can be shown on the chart. The candles displayed need to go back to either the start of the month of year to be able to calculate their VWAPs.

Release Notes: Update:
Added Watermark.
Release Notes: Watermark report by users as to bright. Transparency updated to meet user request.

dVAL, dVAH, pdVAL, pdVAH as levels coming soon.
Skript med en öppen källkod

In true TradingView spirit, the author of this script has published it open-source, so traders can understand and verify it. Cheers to the author! You may use it for free, but reuse of this code in a publication is governed by House Rules. You can favorite it to use it on a chart.

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