@SuryaKiranC At a thread I started Auto Significant Price Levels I have shared a number of scripts. Many are similar to the ones I am presently using. It has been requested I share the setup by someone on the thread, which I will do, however there are a couple of other scripts I want to complete before doing so.
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This is some amazing work. I am trying to play around with this code to see its limitations. I hope this isn't a dumb question, but Is there a way to show the aggregated 15min on the 5min chart. My goal would be to show the higher timeframe support/resistance while showing the lower timeframe 'candlestick patterns'. Thanks!
It is possible. The original code in post 1 would need to be modified to include the aggregation period. I will say, the original strategy was to view this on a 5m timeframe (that is what @SuryaKiranC based it on) so anything else would move away from the original strategy.
My intention was not to move away from the original strategy. I figured a breakout of the 5min VZone box which coincides with a breakout of the 15min VZone box could yield a larger run. Conversely, knowing where the 15min resistance might help place targets on a 5-min breakout. Although, it is just a thought that I wanted to back-test... it may all be nonsense.
You want to test out that theory, try both the timeframes side-by-side, I keep both 5m & 15m on 2 different cells on the grid.
@SuryaKiranC Question the Vzone with no time can you add more zones like maybe add 2 more?Beautiful!
Nice work @SuryaKiranC - such a clean indicator!
Very powerful indicator! MSFT Levels today. From breakout to resistance.
***** Alternate version of vZone w/ no time restrictions. Just looking for highest volume bar and tracking previous 2 highest bars.
Ruby:## vZoneNoTime.ts ## This Indicator is based on the Following concept and, I suggest watch the video before you start to use this. ## ## https://www.screencast.com/users/MarketGauge/folders/DATE1010/media/f1702bb2-2090-463a-8ad2-59639c1166cd ## This is to Plot Support/Resistance based on High Volume Candle in three different time zones for the day. ## ## Removing the header Credit credits and description is not permitted, any modification needs to be shared. ## A big thanks to @COS251 for helping me with Coding this, Reviewing and Testing it. ## ## V 1.2 : Removed time restriction - alternate version (@cos251) ## ## V 1.1 : Just added the ability to disable the vZones, automatically, extending from previous in to current session. ## Note : It is available as an option, should somebody prefer the extension. Set "Extend" to your needs accordingly. ## V 1.0 : Split Day in to three Zones and Find the highest Volume Candle for each zone and plot Support/Resistance. ## : Zone 1 : 09:30 - 11:00 ## : Zone 2 : 11:00 - 14:00 ## : Zone 3 : 14:00 - 16:00 ## : vZones are Plotted on 15m and lower charts. ## : Plots EMA Cloud to assist with identifying reversals, Keeping EMA Clouds for all Timeframes def volumeHigh; def volumeLow; def volVAR; def ph; def pl; def ph2; def pl2; if volume > volVAR[1] { volumeHigh = high; volumeLow = low; volVAR = volume; ph = volumeHigh[1]; pl = volumeLow[1]; ph2 = ph[1]; pl2 = pl[1]; } else { volumeHigh = volumeHigh[1]; volumeLow = volumeLow[1]; volVAR = volVAR[1]; ph = ph[1]; pl = pl[1]; ph2 = ph2[1]; pl2 = pl2[1]; } # --- Zone 1 plot h = volumeHigh; plot l = volumeLow; AddCloud(h, l, Color.GRAY,Color.PINK); # --- Zone 2 plot previoush = ph; plot previousl = pl; AddCloud(previoush,previousl,Color.PINK); # --- Zone 3 plot previoush2 = ph2; plot previousl2 = pl2; AddCloud(previoush2,previousl2,Color.MAGENTA); # --- Labels AddLabel(yes,"Zone 1",Color.GRAY); AddLabel(yes,"Zone 2",Color.PINK); AddLabel(yes,"Zone 3",Color.MAGENTA);
One more image: Same SPY from above but 5m
Sorry, didn't see this earlier. It should be possible. I will check with @cos251 if it is ok to tinker with his version.
Just lookup on EMA Cloud strategy, and what people do with it, there are few theories out there. vZone by itself will not show reversals, I was trying to use EMA clouds to determine if I should hold my longs or book profit.
Do I understand this right? you want to see the vZones based on 1m timeframe, regardless of your chart timeframe.
Yes, you understood correctly and thank you so much for responding with exactly the information I needed. Once again, thank you for the indicator. It sits on my charts permanently now and it's one of the most important guiding factors for my trades.
No problem! The indicator is working great I like to share the video with you how Im using it
What up guys. @Ahmar824 and @SuryaKiranC - Updated the second post with the two additional zones. Let me know if this works for ya'
You are right but that's for the one with no time. This time I'm looking for the original code. I appreciate it if that can be done!
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