Monthly Weekly Daily Hourly CLOSES — Indicator by EIGHTHdecimal

supportandresistance levels pivot trendfollowing

Draws horizontal segments where the last Monthly, Weekly, Daily and Hourly closes are.

Easily identify current price relative position to these key prices.

I use it as a kind of pivot points and help me with trend following entries: longs if up from last close, shorts if down from last close.

Monthly: red line (MMMMM)
Weekly: orange line (WWWWW)
Daily: yellow line (DDDDD)
Hourly: white line (HHHHH)

//Original idea from "Key Levels

Release Notes:

Added high / low for each period
Adjusted colors and character for visibility

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

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