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.
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 VWAP • Black
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.
▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬
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!
Информация о релизе
⋅
Added an option to select either close 30m range (default) or open 30m range (good for stocks).
Информация о релизе
⋅
Added time settings for the initial balance (open/close)
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.
OrcChieftain
⋅
@abhinarayan95, Tanks. It took a lot of time to identify the levels that are worth having on the chart.
hsbenterprises5
⋅
Amezing strategy after long time I found this script amezing. Thanks admin keep making more script . You are genius .
mben99
⋅
I very much love your script. I use it everyday. In the market im trading i noticed they tend to follow the range of 1st 15m candle. Im wondering if possible to add the midline of the yellow range candle and also the mulitplier of that range either above or below so we can see how many range the market have moved for the day? for example the market has move 3 times 15m range so when plotted you can see multiple channel above or below of the 1st opening candle. Your respond would be much appreciated. Thank you.
OrcChieftain
⋅
@goshinguy, Hey, that would be too many lines for my taste for one script. I use a different version of this that exclused yellow range and I created another script for overnight session, london and new york opening range (1h) Perhaps, I could make that public?
UnknownUnicorn1682409
⋅
Great script. Any plans to make this work for 4h and 1h structure, would be great for scalping.
OrcChieftain
⋅
@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.
The way price respects certain levels gives confidence in trading.