OPEN-SOURCE SCRIPT
#TheStrat - Highs and Lows of Candles of 4 Custom Time frames
The bread and butter of strat traders is multi-timeframe analysis. We do MTFA in 2 different ways: 1) By Looking for entries confirmed by Full Timeframe Continuity which is just another way of saying that on multiple timeframes, the candles currently forming are all uniform in direction(ie. all red candles or all green candles), and 2) Looking for Strat reversal on lower timeframes that trigger your higher timeframes reversals.
This script is concerned with the latter piece of multi-timeframe analysis, and its application to the strat
Anyone who has watched Sara's videos teaching the strat can see how she uses the highs and lows of her major time periods, the monthly, weekly, and daily, to find entries from her lower time periods to trigger her higher timeframes. This script performs the process of marking the highs and lows of 4-major time periods automatically so that you do not need to mark every single chart you use manually. I have found this script to be very useful, and convenient. I hope that other stratters find it as useful as I am. Below outlines how to use this, although it is mostly self-explanatory. Special thanks and credit to millerrm, who I used his original code snippets to rework his original script to something more tailored to my personal use cases.
Settings -
You can change the time periods of the candles that you would like to mark to any time frame using the 4 dropdown boxes marked TF#
You can choose to toggle the lines for each given time period on and off, in the settings by checking off each time period.
The default colors are purple, blue, orange, and white, in order respective of time from shortest to highest
The default time periods are 3hr, 6hr, 12hr, and daily
This script is concerned with the latter piece of multi-timeframe analysis, and its application to the strat
Anyone who has watched Sara's videos teaching the strat can see how she uses the highs and lows of her major time periods, the monthly, weekly, and daily, to find entries from her lower time periods to trigger her higher timeframes. This script performs the process of marking the highs and lows of 4-major time periods automatically so that you do not need to mark every single chart you use manually. I have found this script to be very useful, and convenient. I hope that other stratters find it as useful as I am. Below outlines how to use this, although it is mostly self-explanatory. Special thanks and credit to millerrm, who I used his original code snippets to rework his original script to something more tailored to my personal use cases.
Settings -
You can change the time periods of the candles that you would like to mark to any time frame using the 4 dropdown boxes marked TF#
You can choose to toggle the lines for each given time period on and off, in the settings by checking off each time period.
The default colors are purple, blue, orange, and white, in order respective of time from shortest to highest
The default time periods are 3hr, 6hr, 12hr, and daily
Open-source script
In true TradingView spirit, the author of this script has published it open-source, so traders can understand and verify it. Cheers to the author! You may use it for free, but reuse of this code in publication is governed by House rules. You can favorite it to use it on a chart.
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.