Earnings S/R Levels [LazyBear]

These levels are based on price around earnings day. I have implemented support for 2 calculation modes:

Mode 1: Level = (low of 1 day prior to earnings + high of 1 day after earnings ) / 2.0
Mode 2: Level = ( hl2 of 1 day prior to earnings + hl2 of 1 day after earnings + close from earnings day) / 3.0

Chart above shows "Mode 1". Mode can be changed via options page.

This indicator was requested by user @mika2k1ff. I learnt more about this idea from @DanV and @TimWest (Thanks guys :)). BTW, TimWest has an indicators package, "Key Hidden Levels", that has this and more.

Do let me know how you use this, I am very intrigued by the potential this idea shows. Thanks.

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Open-source script

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.

Want to use this script on a chart?
// @author LazyBear 
// List of all my indicators:
study("Earnings S/R Levels [LazyBear]", shorttitle="ELVLS_LB", overlay=true)
mode=input(1, "S/R mode", minval=1, maxval=2)
earnings = security("ESD:"+ticker+"_EARNINGS", "D", close, true)
ehl2_mode1=(nz(earnings[1]) ? avg(low[2],high) : nz(ehl2_mode1[1])) // AVG2(low of 1 day pri, high of 1 day after)
ehl2_mode2=(nz(earnings[1]) ? (hl2[2]+hl2+close[1])/3 : nz(ehl2_mode2[1])) // AVG3(HL2 of 1 day pri, HL2 of 1 day after, close of earnings day)
ehl2=mode==1?ehl2_mode1:mode==2?ehl2_mode2:ehl2_mode1 // default: mode1
plot(ehl2, linewidth=2, style=circles)
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buddy looks really promising ..

it doesnt work on indian stocks .. kindly help
+22 Svara
I also picked up this idea back in 1997 from reading Martin Pring's book "Technical Analysis Explained".

Can you make support / resistance for monthly options expiration's. He also mentioned this idea.
+6 Svara
TradeEmpowered QuantitativeExhaustion
That sounds like a great idea.
LazyBear QuantitativeExhaustion
monthly options expirations? Can you point me to how I view them now here at TV? Thx
+1 Svara
thank you so much
doesnt work on bitcoin is that true? or is there a way? thanks!
Hello LB. I was wondering if you could take look at this indicator. It doesn't seem to be working properly. Please let me know. Thank you
I imagine this could be very useful for Forex traders IF it could be adjusted for High Impact news releases!!! Rate decisions, GDP reports, etc etc.
LazyBear cooney_s
If they are exposed to Pine, surely we can adapt this to that. Thanks for the idea.
Thanks, LB!