Baseline (BL) — Indicator by peacefulLizard50262

multitimeframe pivotpointsandlevels baseline session daily close

My baseline study lets you compare price to the previous days close. You can select the time frame for this baseline. I have included the ability to use a custom period length or your own anchor value. Custom anchor values are great for comparing the price to your cost average. The features I have included are bar color and background color.

I liked the idea of the 'baseline" chart but I didnt like the implementation.

Enjoy

Release Notes:

plot.style_stepline_diamond kind of sucks

Release Notes:

turns out you dont need to specify timeframe's options. Enjoy the extra anchor periods.

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.

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.

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