OPEN-SOURCE SCRIPT
MTF High Low
This is a Multi-Time Frame High Low Indicator that plots the highest and lowest price levels of the chart timeframe and a user selected higher timeframe.
The length can be optimized by the user from settings (default value is 6 candles) and table position can also be adjusted.
The calculation does not takes into account the last candle price data to form a view using the current close price as described below:
If Close > mid value of High + Low, view is Bullish
If Close < mid value of High + Low, view is Bearish
The above is also calculated for the higher timeframe and view for both timeframe is updated in the chart.
The color coding is dynamic based upon the current close price levels and comparisons with High, Low and Mid values.
The mid values level plot is hidden by default and can be enabled and saved as default if the user likes so.
The length can be optimized by the user from settings (default value is 6 candles) and table position can also be adjusted.
The calculation does not takes into account the last candle price data to form a view using the current close price as described below:
If Close > mid value of High + Low, view is Bullish
If Close < mid value of High + Low, view is Bearish
The above is also calculated for the higher timeframe and view for both timeframe is updated in the chart.
The color coding is dynamic based upon the current close price levels and comparisons with High, Low and Mid values.
The mid values level plot is hidden by default and can be enabled and saved as default if the user likes so.
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.