OPEN-SOURCE SCRIPT
Updated Auto-Calculated Pivot Line/Zone (Based on Time Range)
Automatically Calculated Pivot Line/Zone
Harness the power of precision with this Custom Time Range Average Line indicator—designed to pinpoint key equilibrium and pivot levels within consolidation zones after a breakout. Select any start and end time to capture the critical price action shaping the market structure between swings, and calculate the true average price using your choice of open, close, high, low, or midpoint.
Once the defined period concludes, the indicator freezes the average and extends it forward as a clear horizontal ray, acting as a powerful reference for fair value and market balance. This dynamic line shines brightest within consolidation phases, helping traders identify pivot points and equilibrium zones that often serve as magnets for price after a breakout.
Customize the line width to suit your style—use a thinner line width input for a precise single average line, or increase the width to visually represent a broader range or zone. Fully adjustable line color and thickness options ensure this tool integrates seamlessly into any chart setup.
Elevate your trading edge by visualizing the hidden balance points between market swings—turning consolidation chaos into clear, strategic opportunities!
Harness the power of precision with this Custom Time Range Average Line indicator—designed to pinpoint key equilibrium and pivot levels within consolidation zones after a breakout. Select any start and end time to capture the critical price action shaping the market structure between swings, and calculate the true average price using your choice of open, close, high, low, or midpoint.
Once the defined period concludes, the indicator freezes the average and extends it forward as a clear horizontal ray, acting as a powerful reference for fair value and market balance. This dynamic line shines brightest within consolidation phases, helping traders identify pivot points and equilibrium zones that often serve as magnets for price after a breakout.
Customize the line width to suit your style—use a thinner line width input for a precise single average line, or increase the width to visually represent a broader range or zone. Fully adjustable line color and thickness options ensure this tool integrates seamlessly into any chart setup.
Elevate your trading edge by visualizing the hidden balance points between market swings—turning consolidation chaos into clear, strategic opportunities!
Release Notes
New mode added- high and low. This can be used to define a full zone for a given range. Open-source script
In true TradingView spirit, the creator of this script has made it open-source, so that traders can review and verify its functionality. Kudos to the author! While you can use it for free, remember that republishing the code is subject to our House Rules.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Open-source script
In true TradingView spirit, the creator of this script has made it open-source, so that traders can review and verify its functionality. Kudos to the author! While you can use it for free, remember that republishing the code is subject to our House Rules.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.