OPEN-SOURCE SCRIPT
Gold Sniper MGC1 - Supply/Demand
This indicator, titled "Gold Sniper MGC1 - Pure Sniper", is a high-precision institutional trading tool designed specifically for XAUUSD (Gold) intraday analysis. It is engineered to replicate the professional "Smart Money" look of your reference chart by focusing only on high-value structural levels.
Key Features and Logic:
Institutional Structural Mapping: Unlike standard indicators that react to every minor price fluctuation, this tool utilizes a Pivot Strength filter. It only identifies levels that have acted as significant turning points over a specific historical period (e.g., 15+ bars), ensuring that only "Legendary" levels are displayed.
Historical Demand Anchoring: The script is designed to capture levels like the 5035.84 support line by scanning deep into price history. It anchors the zone at the exact point of the historical pivot, showing that the level was established well before current price action.
Automated Mitigation System: To maintain the extreme clarity seen in professional setups, the indicator features a dynamic cleanup engine. It automatically deletes a Demand or Supply zone the moment a candle closes beyond the level, ensuring you only focus on "unmitigated" or fresh areas of interest.
Visual Fidelity: It uses the exact color codes from your primary reference: Teal (#00897b) for Demand and Slate Grey (#5d606b) for Supply. Zones are extended infinitely to the right to act as a clear target or entry point for the "Sniper" entry protocol.
Key Features and Logic:
Institutional Structural Mapping: Unlike standard indicators that react to every minor price fluctuation, this tool utilizes a Pivot Strength filter. It only identifies levels that have acted as significant turning points over a specific historical period (e.g., 15+ bars), ensuring that only "Legendary" levels are displayed.
Historical Demand Anchoring: The script is designed to capture levels like the 5035.84 support line by scanning deep into price history. It anchors the zone at the exact point of the historical pivot, showing that the level was established well before current price action.
Automated Mitigation System: To maintain the extreme clarity seen in professional setups, the indicator features a dynamic cleanup engine. It automatically deletes a Demand or Supply zone the moment a candle closes beyond the level, ensuring you only focus on "unmitigated" or fresh areas of interest.
Visual Fidelity: It uses the exact color codes from your primary reference: Teal (#00897b) for Demand and Slate Grey (#5d606b) for Supply. Zones are extended infinitely to the right to act as a clear target or entry point for the "Sniper" entry protocol.
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.
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.