OPEN-SOURCE SCRIPT
Updated Level Master Pro+ [MMT]
Level Master Pro+ [MMT] Indicator
The Level Master Pro+ [MMT] is a highly customizable Pine Script indicator designed for TradingView, built to plot key pivot point levels, support and resistance zones, and additional price levels such as previous close, bottom central (BC), and top central (TC) on a chart. This indicator is tailored for traders who rely on pivot-based strategies, offering flexibility in timeframe selection, visual styling, and level visibility to suit various trading styles.
Key Features:
- Pivot Point Levels:
- Customization Options:
- Visual and Performance Optimization:
- Dynamic Updates:
Use Case:
The Level Master Pro+ [MMT] is ideal for traders employing pivot point strategies to identify potential support and resistance zones, reversal points, or breakout levels. Its extensive customization options make it suitable for day trading, swing trading, or long-term analysis across various markets (stocks, forex, crypto, etc.).
How It Works:
*Data Source: Uses request.security to fetch pivot data based on the selected timeframe.
*Level Calculations: Computes traditional pivot points and derives additional levels (R6, S6, BC, TC) using high, low, and close prices from the previous period.
*Rendering: Draws lines and labels for each enabled level, with options to extend lines to the current bar or anchor them to the timeframe’s end.
*Memory Management: Stores pivot graphics in a matrix and removes older pivots to stay within the user-defined historical limit.
Settings Overview:
*Pivot Timeframe: Set the timeframe for pivot calculations (e.g., daily, weekly).
*Show Labels/Prices: Enable or disable level labels and price values.
*Line Style: Customize line appearance and transparency.
*Label Style: Adjust label size and background transparency.
*Level Visibility: Toggle visibility for each level (P, S1–S6, R1–R6, PC, BC, TC) and customize their colors.
This indicator empowers traders with a robust tool to visualize critical price levels with precision and flexibility, enhancing technical analysis and decision-making.
The Level Master Pro+ [MMT] is a highly customizable Pine Script indicator designed for TradingView, built to plot key pivot point levels, support and resistance zones, and additional price levels such as previous close, bottom central (BC), and top central (TC) on a chart. This indicator is tailored for traders who rely on pivot-based strategies, offering flexibility in timeframe selection, visual styling, and level visibility to suit various trading styles.
Key Features:
- Pivot Point Levels:
- Plots traditional pivot points (P), up to six levels of support (S1–S6) and resistance (R1–R6), previous close (PC), base control (BC), and top control (TC).
- Automatically calculates R6 and S6 using the pivot range (high - low) for extended analysis.
- Supports customizable timeframes for pivot calculations (default: 1D).
- Customization Options:
- Pivot History: Adjust the number of historical pivots displayed (1–200).
- Line Styling: Choose line width (1–10), style (solid, dashed, dotted), and transparency (0–100%).
- Label Styling: Toggle labels and price values, set label position (left or right), size (tiny to huge), and background transparency.
- Color Customization: Assign unique colors to each level (P, S1–S6, R1–R6, PC, BC, TC) with default settings like green for support, red for resistance, and purple for BC/TC.
- Extend to Current Bar: Optionally extend pivot lines to the current bar for real-time tracking.
- Visual and Performance Optimization:
- Uses an overlay to plot levels directly on the price chart.
- Supports up to 500 lines and labels to prevent performance issues.
- Efficiently manages historical pivot data by removing outdated graphics when the maximum pivot count is exceeded.
- Dynamic Updates:
- Automatically updates pivot lines and labels when a new timeframe period begins (e.g., new day for daily pivots).
- Ensures smooth rendering with real-time adjustments for extended lines and label positions.
Use Case:
The Level Master Pro+ [MMT] is ideal for traders employing pivot point strategies to identify potential support and resistance zones, reversal points, or breakout levels. Its extensive customization options make it suitable for day trading, swing trading, or long-term analysis across various markets (stocks, forex, crypto, etc.).
How It Works:
*Data Source: Uses request.security to fetch pivot data based on the selected timeframe.
*Level Calculations: Computes traditional pivot points and derives additional levels (R6, S6, BC, TC) using high, low, and close prices from the previous period.
*Rendering: Draws lines and labels for each enabled level, with options to extend lines to the current bar or anchor them to the timeframe’s end.
*Memory Management: Stores pivot graphics in a matrix and removes older pivots to stay within the user-defined historical limit.
Settings Overview:
*Pivot Timeframe: Set the timeframe for pivot calculations (e.g., daily, weekly).
*Show Labels/Prices: Enable or disable level labels and price values.
*Line Style: Customize line appearance and transparency.
*Label Style: Adjust label size and background transparency.
*Level Visibility: Toggle visibility for each level (P, S1–S6, R1–R6, PC, BC, TC) and customize their colors.
This indicator empowers traders with a robust tool to visualize critical price levels with precision and flexibility, enhancing technical analysis and decision-making.
Release Notes
Bug fix: BC level is larger than TC levelOpen-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.