PROTECTED SOURCE SCRIPT
Break Levels – Peaks and Valleys – Market Structure
Description
An experimental script, designed as a visual aid, to highlight two consecutive green candles after a red candle, and two consecutive red candles after a green candle. We can assume these formations to be potential candidates as an origin of a peak and valley. The highest point of the 1st red candle and lowest point of the 1st green candle is to be considered as break levels.
How to use
Expect attacks/tests or a break of these levels in the future. A solid break through these levels may produce a potential retest in the opposite direction. The greater the number of times a zone is tested, the more likely it is to break.
By using them as reference points, traders are expected to follow their own set of rules and mark higher probability supply and demand zones in the area.
Alerts are added for either a candle close or wick through the levels. For the alerts the script only trails the latest high and low break levels.
This can be used as an alternative to those who use fractals for market structure.
Indicator in use
An experimental script, designed as a visual aid, to highlight two consecutive green candles after a red candle, and two consecutive red candles after a green candle. We can assume these formations to be potential candidates as an origin of a peak and valley. The highest point of the 1st red candle and lowest point of the 1st green candle is to be considered as break levels.
How to use
Expect attacks/tests or a break of these levels in the future. A solid break through these levels may produce a potential retest in the opposite direction. The greater the number of times a zone is tested, the more likely it is to break.
By using them as reference points, traders are expected to follow their own set of rules and mark higher probability supply and demand zones in the area.
Alerts are added for either a candle close or wick through the levels. For the alerts the script only trails the latest high and low break levels.
This can be used as an alternative to those who use fractals for market structure.
Indicator in use
受保護腳本
此腳本以閉源形式發佈。 不過，您可以自由且不受任何限制地使用它 — 在此處了解更多資訊。
免責聲明
這些資訊和出版物並不意味著也不構成TradingView提供或認可的金融、投資、交易或其他類型的意見或建議。請在使用條款閱讀更多資訊。
免責聲明
這些資訊和出版物並不意味著也不構成TradingView提供或認可的金融、投資、交易或其他類型的意見或建議。請在使用條款閱讀更多資訊。