DayTradingOil

Projection

Greetings Traders! I have decided to release a few scripts as open-source as I'm sure others can benefit from them and perhaps make them better.(Be sure to check my Profile for the other scripts as well: https://www.tradingview.com/u/DayTrading...).
This one is called Projection.

Projection is based off the same Principle as some of my other scripts, such as Trade Manager(https://www.tradingview.com/script/M926e...) and Price Predictor(https://www.tradingview.com/script/M926e...). I use a simple concept using line.new() to define some potential Price Projections. From the Settings of the Indicator, you can access a couple different Pre-Set options.

Wide Parabola:

Skinny Parabola:

Straight Triangle:

ZigZag1:

ZigZag2:

I wanted to give a Special Thanks to @Pinecoders for the custom RoundToTick Function from Backtesting/Trading Engine --> (https://www.tradingview.com/script/dYqL9...)

If you like Projection, be sure to Like, Follow, and if you have any questions, don't be afraid to drop a comment below.
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500coins
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This publication is now featured in our Editors' Picks: https://www.tradingview.com/scripts/editors-picks/ .
In the name of all TradingView traders, thank you for your valuable contribution to the TradingView community, and congrats!
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DayTradingOil PineCoders
@PineCoders, An honor, thank you so much for all that you guys do!
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excellent work, will test it.....can you explain this situation? does this means that it will travel to those yellow levels tomorrow?
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DayTradingOil nilanjan62
@nilanjan62, Not necessarily, no. You can try adjusting the Target Multiple to 1.0, clicking Extend Targets, or using the Weekly as the Default Resolution. This doesn't predict price action, just uses basic math to draw potential trend lines on a time period.
+1 Reply
great work .
God bless you
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Interesting. Thanks.
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