Frien_dd

MTF Key Levels - Support and Resistance

This indicator shows how to Multi Time Frame (MTF) interpret levels:

Watch how price acts around these levels and how they can act as support/resistance and can be used as great confluence levels for your technical analysis .


This indicator displays:

VWAP Levels

Daily / Weekly / Monthly / Yearly
Within the chart above I have marked out how displaying these VWAP levels can provide support and resistance levels to be aware of.


Daily – Weekly - Monthly – Yearly Levels

O = Open / H = High / L = Low
pO = Previous Open / pH = Previous High / pL = Previous Low / pEQ = Previous Equlibrium

Having previous Low/High levels makes you aware of Swing Failure Patterns (SFP). Also the daily/weekly/monthly opening and previous opening can assist with the trend.

Daily Open: Gives you an idea who is in control for the day. This level very often acts as strong support or resistance.
Weekly Open: Indicates where the price is within the higher timeframe.
Monthly Open & Yearly Levels: Overview of direction for the whole month without looking at a monthly chart and Yearly chart


Line Options

Within the line options you can choose to have a clean chart and display a “short line”. These line length can be adjusted by the user.
Line just to the right.
Line across the screen.


Disclaimer: The Monthly and Yealy VWAP will only show on higher timeframes this is due to restriction of how many candles can be shown on the chart. The candles displayed need to go back to either the start of the month of year to be able to calculate their VWAPs.

Release Notes: Update:
Added Watermark.
Release Notes: Watermark report by users as to bright. Transparency updated to meet user request.

dVAL, dVAH, pdVAL, pdVAH as levels coming soon.
Open-source script

In true TradingView spirit, the author of this script has published it open-source, so traders can understand and verify it. Cheers to the author! You may use it for free, but reuse of this code in a publication is governed by House Rules. You can favorite it to use it on a chart.

Want to use this script on a chart?

Comments

wow thank u so much for ur effort....i have a question is it possible to include the pdVA like on exo pls then this would be so an amazing indicator and no one needs any more to draw them daily on the chart from exo :)
+2 Reply
thank u Frien DD for the amazing work !
+1 Reply
Woauw thank for the script mate, it's awsome!! keep up the good work, and thank to Bruno Neco for the suggestion, mad luv and mad respect for both of u
+1 Reply
NecoKronos LinTiger
@LinTiger, Thank youuu
+1 Reply
Thank you so much for the awesome indicator.. Just wondering if it was not possible to add Poc levels like on your other indicator "Trading Ideas - Chart Champions Value - Points of Interest"
Reply
Frien_dd Mynight1803
@Mynight1803, having the word not in the sentence. Has confused me. Are you after or not after?
Reply