OPEN-SOURCE SCRIPT
Ely Waves Pivots
These pivot points are used to create an expected range based on open and closing candle data. It's a mixture of two different types of pivots and together they form an expected range for various time frames. You can set them up from as little as 4 hours to 1 month. My personal favorites are 4 hour, 1 day, 1 week, and 1 month.
The dashed lines create the pivot area for the time frame chosen, and the thick lines create the expected high and low for the chosen time frame.
These are very powerful if used correctly!
Hope you enjoy!
The dashed lines create the pivot area for the time frame chosen, and the thick lines create the expected high and low for the chosen time frame.
These are very powerful if used correctly!
Hope you enjoy!
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.