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Murrey

Murrey Math Horizontal/Diagonal + Subharmonics 0 - 12 [All-Time]The Murrey Math lines are created by dividing the range between the high and low of the monthly timeframe prices into equal parts based on the division factor from 2 to 12. No matter which timeframe you will use, because the calculations based on the most high and low price values. Better to use > monthly timeframe for faster calculations. These lines serve as potential support and resistance levels. The midlines are dashed lines representing the midpoint between two consecutive Murrey Math lines. The diagonal lines can be enabled to show two different types or both types. These lines connect the highs or lows of the price bars in a diagonal manner. The subharmonic lines represent smaller divisions within each Murrey Math range. They can be customized to show only strong subharmonics or all subharmonics. Subharmonics are calculated based on the division factor and can provide additional support and resistance levels within the Murrey Math framework. This script helps visualize the Murrey Math levels and their associated lines on a trading chart, aiding traders in identifying potential price levels for decision-making. The most strong levels which I tested were: 2, 4, 6, 8, 12. I was inspired by Gann's work and i tried to implement this indicator. It's the most accurate version of Murrey Math calculations, you can set the value of 8 which Gann was used but I did up to 12 because of my experiments and I would recommend you to use the value of 12. This indicator can be used for all types of markets. Also note, that the strong levels described above is tested on division by 12 setting. Anyway, you can use the divison of 8 and use the standart strong s/r levels. (for more information search for Gann 2.0 support resistance on the internet). Also note: this information is not a financial advice, just my opinion to the indicator I implemented. Please use this indicator wisely and focus to save your money, not earn. I wish you profitable trades, stick to your risk/money management and the key entry points!
Pine Script® indicator
by crypteisfuture
4
[JRL] MM FibonacciThis is a new indicator that uses Murrey Math formulas to find the tops and bottoms, then uses those tops and bottoms to draw long-term fibonacci retracement levels. The genius of Murrey was his geometric formulas to calculate the right place to start plotting the lines, but I think the fibonacci ratios typically seem more accurate than the MM line ratios. So in this script I attempt to take the best of each and combine them into a new, superior indicator. Let me know in the comments if you find this useful. Cheers!
Pine Script® indicator
by JRL_6
60
[JRL] Murrey Math LinesMurrey Math Lines are support and resistance lines based on geometric mathematical formulas developed by T. H. Murrey. MM lines are a derivation of the observations of W.D. Gann. Murrey's geometry facilitate the use of Gann's theories in a somewhat easier application. According to Gann's theory, price tends to trend and retrace in 1/8th intervals. The most important MM line levels are the 0/8, 4/8 and 8/8 levels, which typically provide strong support and resistance points. The 3/8 and 5/8 levels represent the low and high of the typical trading range. When price is above the typical trading range, it is considered overbought, and when it is below it is considered oversold. The 2/8 and 6/8 levels provide strong pivot points. Some of the other Murrey Math indicators on TradingView use different formulas and therefore produce varying results. I've checked my indicator against MM indicators on other platforms and it is consistent with those indicators. This indicator also allows users to switch to alternative timeframes for analysis and it includes labels for the MM lines. If you have any suggestions or comments, please leave them below. Cheers!
Pine Script® indicator
by JRL_6
35
Murreys Math Lines Box OR Ratio PivotsI'm publishing my second script, though nothing extraordinary, I believe there is user group for Murry Math indies and the only "proper one" (According to my usage) I found was of RicardoSantos, here is the link : He developed that script in 2014 and it is in need of update to Pine V4 and I'm doing the needful as its user. All the updates from my end are listed below: 1. Updated to Pine V4 2. Automatic octave selection 3. In auto mode one can switch octave 4. This script is color coded with intention of use on dark theme, one can change the colors to use it on white background with simple few clicks as pinelines have been used Other thing I want to add is that usage of this is not very clear to many users, so I'll do little explaining here; Lets start with what is Octave? Octave is basically distance between square of two whole numbers, this is hard-fast method to calculate, Murry has made it far more complicated to use practically. In mathematical formula terms it could be something like this for script trading at 11890 (CMP) Step 1: Square Root of CMP i.e Square Root of 11890 = 109.041 = Rounded to 109 Step 2: You can either take one whole number higher or lower than 109, which is 108 or 110. We will take 108 Step 3: Square of 108 = 11664 and Square of 109 = 11881 Step 4: Octave => Distance between (Lowlevel) 11664 and (Higherlevel) 11881 I've automated it so you don't need to calculate, but there is also manual entry possible if you want to calculate octaves yourself, there are different ways to calculate and some like to just take High and Low's of the day or week or month, whatever you like. When I used it I did it strictly this way, so automation is based on it. This is very subjective matter so don't ask to change the calculation of this, if I started doing that every second person would ask me to modify it to different calculation..and thats...just not possible to do. This is output for calculation we just did above This is octave shift option (Which basically shifts to next whole number square in above calculation) Normal nomenclature on octaves and important color codes +2/8: Extreme overbought = Blue Color and solid line +1/8: OverBought 8/8: Hardest line to rise above (overbought) = White Color and solid line 7/8: Fast reverse line (weak) 6/8: Pivot reverse line = Yellow Color and solid line 5/8: Upper trading range ---------------------------------------- 4/8: Major reversal line = Green Color and solid line ---------------------------------------- 3/8: Lower trading range 2/8: Pivot reverse line = Blue Color and solid line 1/8: Fast reverse line (weak) 0/8: Hardest line to fall below (oversold) = White Color and solid line -1/8: Oversold -2/8: Extreme Oversold = Yellow Color and solid line Other lines that I've not mentioned color codes for are minor and are usually plotted in dotted format. Resources on complete technique to trade and importance of levels (highly recommended to read carefully before trading), if you don't know how to get this for free don't worry you can just google Murrey math and you will find it somewhere, its just that it would be in little scattered manner. www.scribd.com Enjoy!
Pine Script® indicator
by Pratik_4Clover
14
Murrey Math Extremes ComparatorHOW IT WORKS Creates two murrey math oscillators (hidden) one with 256 length another with 32 length and compare each other. WHAT GIVE ME THIS SCRIPT The script can give you very valuable information: - Main Trend - Pullbacks detections - Extreme overbought oversold prices alerts - Divergences - Any timeframe usage REFERENCES OF USAGE Main Trend Indications ****The main trend is indicated with green(bull) or red(bears) small "triangles" on the bottom(bull) or the top(bears) of the chart. *****To detect the Bull/Bear major trend the script use 256 murrey, if > 0 (green) we are uptrend in other cases we are downtrend Pullback detection ****The pullbacks are indicated with Green(bull) or red(bears) medium "Arrows" *****To detect pullbacks the system compare the long term murrey with the short term murrey, if long term is Green(green triangles) *****so we are in a main bull trend, if the short term murrey make an extreme low then the pullback is indicated *****The same for the short pullback, if long term murrey is RED and we have an extreme green short term murrey we shot a red arrow Extreme Overbught/Oversold ****The extreme OO is indicated with fancy diamonds *****To detect the Extremes price movements we combine the two murrey, if Long Term Murrey is overbought and short term murrey too *****Then the diamond show on the screen obove or below based on the extreme if overbought or oversold Strategy Resume: Triangles indicate Major Trend Up/Down Arrows Indicate Continuation pullbacks Diamonds Indicate Extreme Prices GUIDE HOW TO IMAGES How it's works Behind Scene
Pine Script® indicator
by morpheus747
4
GRaB Candles by mattlacoco with MMM by Harold_NL V1.1Update v1.1: GRaB colors now green, red, gray Added Murrey Range lines. Cleaned up the code. GRaB candles and a murrey math "midline" in one script. Some traders using methods of Rob Booker (40% club, trifecta5) like to use both GRaB candles and Murrey Math to combine, or to compare entry and exit moments. Color of candles are as GRaB candles. Midline use: Crossing the midline is a change of color in murrey. Candles closing above the midline would be green and below would be red as murrey candles. Credits: Original script of Raghee Horner's GRaB Candles by Matt Lacoco (BUY BLUE SELL RED). Murrey Math Midline added by Harold van Berk (most code copied from "UCS_Murrey's Math Oscillator_V2" by ucsgears) Candle colors defined by GRaB Green bulish, Red bearish, Gray neutral Dark for close lower than open Light for close higher than open Candles that close above the Murrey Math Middle line would normally be (murrey) green. Below would be (murrey) red. Murrey lines can be switched off in "format" of the indicator.
Pine Script® indicator
by Harold_NL
3
GRaB Candles by mattlacoco with Murrey Math Midline(use V1.1 now See links below) GRaB candles and a murrey math "midline" in one script. Some traders using methods of Rob Booker (40% club, trifecta5) like to use both GRaB candles and Murrey Math to combine, or to compare entry and exit moments. Color of candles are as GRaB candles. Midline use: Crossing the midline is a change of color in murrey. Candles closing above the midline would be green and below would be red as murrey candles. Credits: Original script of Raghee Horner's GRaB Candles by Matt Lacoco (BUY BLUE SELL RED). Murrey Math Midline added by Harold van Berk (most code copied from "UCS_Murrey's Math Oscillator_V2" by ucsgears)
Pine Script® indicator
by Harold_NL
UCS_Murrey's Math Oscillator_V2Hello, Murrey Math lovers, Thanks for those who showed interest on this. Based on a request, I have updated the plot / candle coloring, for Version - 2. This has been in the queue for a while. There was a Glitch found with the Multiplier. Will Fix in the next version. The Current Version (and the previous version) only supports 1/8 fractions. Will not support 0.25. The code needs to be updated, to automate the fractal line glitches for other ratios, Planned for future update. Good Luck and Enjoy the Colorful Oscillator. Please keep your suggestions flowing. Lets make it better.
Pine Script® indicator
by UDAY_C_Santhakumar
53
UCS_Murrey's Math OscillatorThis is a new indicator release, Using the principle of Murrey Math Line Trading Systems. It will be easier for someone to add alerts on an oscillator rather than a overlay. Currently, I did add some aesthetics for those who like to view different colors, can be turned off. Oscillator Color Definition - Green = Above MidLine Red = Below Midline Blue = Below Negative 3rd Quadrant Orange = Above Positive 3rd Quadrant ///////// Planned future Improvement is to consider Wicks as well. Do post your opinions and any improvement. GL.
Pine Script® indicator
by UDAY_C_Santhakumar
12