OPEN-SOURCE SCRIPT
PVSRA High Volume Lines MTF - Daily
This indicator identifies Daily candles with significant volume activity based on the traditional PVSRA calculation.
When a high-volume Daily candle is detected, the indicator plots support and resistance levels at the high and low of that specific candle.
These Daily-based levels are then projected onto lower timeframes, allowing traders to visualize higher-timeframe support and resistance zones directly on intraday charts.
The indicator focuses only on days with elevated volume, rather than plotting levels for every Daily candle.
When a high-volume Daily candle is detected, the indicator plots support and resistance levels at the high and low of that specific candle.
These Daily-based levels are then projected onto lower timeframes, allowing traders to visualize higher-timeframe support and resistance zones directly on intraday charts.
The indicator focuses only on days with elevated volume, rather than plotting levels for every Daily candle.
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.