50%er Lite by Tren10x

7 ส.ค.

50%er Script Lite
Overview:
The Tren10x 50%er Script Lite is a streamlined version of my fully-featured 50%er script. It calculates the critical 50% line of the previous candle and extends this functionality to daily, weekly, monthly, quarterly, and yearly levels. This script also detects previous highs and lows for these timeframes, providing a comprehensive view of key price levels. Additionally, it calculates and prints opening levels for the day, week, month, quarter, and year. A custom timeframe feature allows for flexibility in setting 50% and high/low levels, catering to individual trading preferences.

How It Works:

• The script leverages Pine Script to calculate the midpoint (50%) of the previous candle's high and low. This midpoint acts as a crucial level for traders to identify potential support and resistance. The same logic is applied to daily, weekly, monthly, quarterly, and yearly timeframes, offering a multi-dimensional perspective on price action.
  
  The script identifies and marks the previous high and low points for these timeframes, which are essential for breakout and breakdown strategies. It also tracks and prints the opening levels for various periods, helping traders gauge market sentiment from the open.
  

How to Use:
Adding to Chart:

• Apply the Tren10x 50%er Script Lite to your TradingView chart.

Configuring Inputs:

• Customize the timeframes and levels according to your trading strategy.
  
• Use the custom timeframe feature to set specific periods for 50% and high/low levels.
  

Analyzing Levels:

• Observe the plotted 50% lines and opening levels to identify potential areas of support and resistance.
  
• Utilize the previous high and low markers to spot breakout or breakdown points.
  

Strategizing Trades:

• Incorporate these levels into your trading strategy for entry and exit points.
  
• Monitor price reactions around these critical levels for potential trade setups.
  

What Makes It Original:
50%er Lite stands out for its simplicity and precision. By focusing on the essential 50% line and previous high/low levels across multiple timeframes, it provides traders with a clear and concise view of the market. The custom timeframe feature adds a layer of personalization, allowing traders to adapt the script to their unique trading styles.

50%er Lite maintains a clean and straightforward approach. It offers essential data without overwhelming the user, making it a valuable tool for both novice and experienced traders.

Future Prospects:
tradingview.com/script/X7GAUeVy-50-er-by-Tren10x/
For traders seeking even more advanced features, the fully-fledged version of the 50%er script includes Futures levels.

19 ส.ค.

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Version 1.1
✅ Added ability to show the price on the price scale.