Simple Equilibrium Zone for ThinkorSwim

BenTen

Administrative
Staff member
Staff
VIP
Lifetime
This indicator consists of today's open and yesterday's trading range.

According to the original author (Trader_King):
  • Stock is ranging when it's trading within the zone
  • Stock is trending when it's outside of the zone, be it upper or lower.
You can use the Equilibrium Zone for breakout trading or to avoid sideways action.

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thinkScript Code

Code:
# OC Equilibrium
# Assembled by BenTen at useThinkScript.com
# Converted from https://www.tradingview.com/script/VBKZx0eK/

input aggregationPeriod = AggregationPeriod.DAY;
def OPEN = open(period = aggregationPeriod);
def high = high(period = aggregationPeriod);
def low = low(period = aggregationPeriod);

def a = ((high + low) / 2);
def b = open;

plot o = a[1];
plot z = b;
 

jeremyadorna

New member
VIP
is there any way to change it to display only the last three days' worth, and as horizontal lines instead of the current continuous line?
 

leo2022

New member
I'm trying to write or find a script that's shows a line from the previous day's closing and one for the current day's opening. Finally a line representing the halfway price between to the two prices. Thanks

example
current day opening: $20

50%: $15

previous day closing: $10
 

leo2022

New member
I'm trying to write or find a script that's shows a line from the previous day's closing and one for the current day's opening. Finally a line representing the halfway price between to the two prices. Thanks

example
current day opening: $20

50%: $15

previous day closing: $10


edit: Mods must've moved me to a thread with the answer. Thanks
 

fcastrof

New member
Could you help me with a script to plot a horizontal line right where the current session price opens and extend the line to the end of the session.

Thanks!
 

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