Dynamic Open Levels# Dynamic Open Levels Indicator v1.0
Release Date: November 5, 2024
Introducing the Dynamic Open Levels indicator on TradingView! This tool helps traders visualize and analyze key opening price levels across multiple timeframes, making your market analysis more effective.
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### Key Features
- Multiple Timeframes : Yearly, Quarterly, Monthly, Weekly, Daily, 4H, and 1H levels available.
- Visibility Controls : Easily toggle visibility for each timeframe to suit your trading style.
- Line Customization : Set custom thickness and colors for lines, making charts easy to interpret.
- Monthly: Purple
- Weekly: Blue
- Daily: Green
- 4H: Red
- 1H: Orange
- Dynamic Coloring : Lines adjust color based on market conditions—teal for bullish (`rgb(34, 171, 148)`) and coral for bearish (`rgb(247, 82, 95)`).
### Labels & Customization
- Real-Time Labels : Each level is labeled for easy identification (e.g., Y for Yearly, Q for Quarterly).
- Label Settings : Customize opacity, text color, size, and position for clarity without cluttering your chart.
- Sizes : Choose from tiny, small, normal, large, to huge.
- Offset : Set labels from 1 to 10 to position them precisely.
- Color Management : Organize all colors under a dedicated Line Colors group for easy adjustments.
### Advanced Plotting & Performance
- Real-Time Updates : Levels are updated dynamically with the latest open prices.
- Extended Lines : Lines extend to the right, offering a consistent reference for future price movement.
- Optimized Performance : Handles up to 500 lines efficiently to maintain smooth performance.
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### Installation Instructions
1. Add to Chart :
- Go to the Indicators section in TradingView.
- Search for Dynamic Open Levels and add it to your chart.
2. Customize Settings :
- Line Thickness : Adjust to suit your preference.
- Visibility : Toggle timeframes like Yearly, Monthly, Weekly, etc., as needed.
- Labels : Configure opacity, text color, size, and offset under the Label Settings group.
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### Documentation & Support
For guidance on using the Dynamic Open Levels indicator, visit our Documentation (#). If you need assistance, check out our Support Channel (#).
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Thank you for choosing Dynamic Open Levels . Stay tuned for future updates that will continue to improve your trading experience!
H A Z E D
Ftfc
Timeframe Continuity Oscillator [TFO]This indicator is used to visualize timeframe continuity - a core concept of "The Strat" - along with some added logic for potential range limiters.
When discussing timeframe continuity, typically we are evaluating several timeframes to see if price is trading above or below the current open of each respective timeframe. If we are concerned with the 15m, 4h, and 1D for example, and price is trading above the current open of each of those timeframes, we can say that we have full timeframe continuity (FTFC) up. Conversely, if price is trading below the current open of each of those timeframes, we can say that we have FTFC down.
We can visualize this with an oscillator of sorts, where the zero line is anchored to the open price of the highest timeframe that we're concerned with. Using the prior example, this would be the 1D timeframe. As long as price is above the current 1D open, it is impossible to have FTFC down; and as long as price is below the current 1D open, it is impossible to have FTFC up. This is why we base the oscillator's values off of the highest timeframe's open (the values are simply how far price has traded from this open) - any value greater than zero tells us that there is potential to have FTFC up, and any value less than zero tells us that there is potential to have FTFC down.
There are a few ways we chose to visualize this data. First, we can choose the "Binary" option which simply uses one solid bullish color above the zero line, and one solid bearish color below the zero line.
Second, we can choose the "Gradient" option to help describe whether we have FTFC up or down. Values above the zero line will be a mix of the bullish color and mid color, where the mid color indicates no timeframe continuity up and the bullish color indicates FTFC up - sort of like a color spectrum of timeframe continuity to describe how many timeframes are in agreement. Similarly, values below the zero line will be a mix of the bearish color and the mid color, where the mid color again indicates no timeframe continuity down and the bearish color indicates FTFC down.
Lastly, we can choose the "FTFC Only" option which will only color the histogram bars as bullish if there is FTFC up, or bearish if there is FTFC down.
One more feature that we added is these upper and lower bands that aim to help describe the potential upper and lower limits that price may travel, relative to the highest timeframe's open. This is done by taking the standard deviation of some defined lookback period, for example, 2 standard deviations of the previous 10 weeks, assuming 1W is the highest timeframe enabled.
The concept is similar to that of an ADR (average daily range) as it can be used to estimate maximum range extensions for the largest timeframe. The arrows you see are plotted once the value exceeds either band - alerts can be enabled for these events as well through any alert() function call.
[BM] HTF Candle Evolution█ OVERVIEW
This script shows how a higher timeframe candle evolves over time.
It was created as a visual aid to #TheStrat and provides a new way of looking at Timeframe Continuity.
█ FEATURES
General
HTF: Higher Timeframe selection with dropdown and ability to manually input a timeframe that is not present in the dropdown.
Label: Show a label with the selected higher timeframe.
Marker: Shows a marker symbol at the start of each new higher timeframe.
Align: Aligns the candles around a selected center line.
The Strat
Multi-timeframe analysis is used extensively in #TheStrat (created by Rob Smith), so the ability to add #TheStrat coloring has been made available.
Scenario: Define the colors for the strat scenario's.
Coloring of: Choose which part of the candles you want the selected strat scenario colors to be applied to.
Band: Display a band that shows the active strat scenario color of the selected higher timeframe.
All features are completely customizable.
