HTF Hi-Lo Zones [CHE]

вчера

HTF Hi-Lo Zones Indicator

The HTF Hi-Lo Zones Indicator is a Pine Script tool designed to highlight important high and low values from a selected higher timeframe. It provides traders with clear visual zones where price activity has reached significant points, helping in decision-making by identifying potential support and resistance levels. This indicator is customizable, allowing users to select the resolution type, control the visualization of session ranges, and even display detailed information about the chosen timeframe.

Key Functionalities

1. Timeframe Resolution Selection:
- The indicator offers three modes to determine the resolution:
- Automatic: Dynamically calculates the higher timeframe based on the current chart's resolution.
- Multiplier: Allows users to apply a multiplier to the current chart's timeframe.
- Manual: Enables manual input for custom resolution settings.
- Each resolution type ensures flexibility to suit different trading styles and strategies.

2. Data Fetching for High and Low Values:
- The indicator retrieves the current high and low values for the selected higher timeframe using `request.security`.
- It also calculates the lowest and highest values over a configurable lookback period, providing insights into significant price movements within the chosen timeframe.

3. Session High and Low Detection:
- The indicator detects whether the current value represents a new session high or low by comparing the highest and lowest values with the current data.
- This is crucial for identifying breakouts or significant turning points during a session.

4. Visual Representation:
- When a new session high or low is detected:
- Range Zones: A colored box marks the session's high-to-low range.
- Labels: Optional labels indicate "New High" or "New Low" for clarity.
- Users can customize colors, transparency, and whether range outlines or labels should be displayed.

5. Information Box:
- An optional dashboard displays details about the chosen timeframe resolution and current session activity.
- The box's size, position, and colors are fully customizable.

6. Session Tracking:
- Tracks session boundaries, updating the visualization dynamically as the session progresses.
- Displays session-specific maximum and minimum values if enabled.

7. Additional Features:
- Configurable dividers for session or daily boundaries.
- Transparency and styling options for the displayed zones.
- A dashboard for advanced visualization and information overlay.

Key Code Sections Explained

1. Resolution Determination:
- Depending on the user's input (Auto, Multiplier, or Manual), the script determines the appropriate timeframe resolution for higher timeframe analysis.
- The resolution adapts dynamically based on intraday, daily, or higher-period charts.

2. Fetching Security Data:
- Using the `getSecurityDataFunction`, the script fetches high and low values for the chosen timeframe, including historical and real-time data management to avoid repainting issues.

3. Session High/Low Logic:
- By comparing the highest and lowest values over a lookback period, the script identifies whether the current value is a new session high or low, updating session boundaries and initiating visual indicators.

4. Visualization:
- The script creates visual representations using `box.new` for range zones and `label.new` for session labels.
- These elements update dynamically to reflect the most recent data.

5. Customization Options:
- Users can configure the appearance, behavior, and displayed data through multiple input options, ensuring adaptability to individual trading preferences.

This indicator is a robust tool for tracking higher timeframe activity, offering a blend of automation, customization, and visual clarity to enhance trading strategies.

Disclaimer

The content provided, including all code and materials, is strictly for educational and informational purposes only. It is not intended as, and should not be interpreted as, financial advice, a recommendation to buy or sell any financial instrument, or an offer of any financial product or service. All strategies, tools, and examples discussed are provided for illustrative purposes to demonstrate coding techniques and the functionality of Pine Script within a trading context.

Any results from strategies or tools provided are hypothetical, and past performance is not indicative of future results. Trading and investing involve high risk, including the potential loss of principal, and may not be suitable for all individuals. Before making any trading decisions, please consult with a qualified financial professional to understand the risks involved.

By using this script, you acknowledge and agree that any trading decisions are made solely at your discretion and risk.

Best regards and happy trading

Chervolino