fikira

'Golden ratio' Cubes - 'GoRaC'

The difference between 2 points is plotted here using 'Golden ratio' cubes
(working differently than my 'Golden ratio spiral - 'GoRaS')

The 2 points can be 'high/low' or 'max(open/close)/min(open/close)',
with the possibility of higher resolution, the following examples are with 1 week resolution

By extending the lines you can spot support/resistance area's

You can reverse:

or 'mirror':

The 'bars back' can be set to get a previous period
Important:
  • In the example of a week resolution on a daily chart:
    if you set '0', and it is Friday, the week isn't finished yet!
    Everything still can change (= repaint)

1 bar back (in this case 7 daily bars back since the res = week!):
2 bars back:
3 bars back:

Here using 'high/low' and lines extended to the left:
or 'max(open/close)/min(open/close)' and lines extended to the left:

Cheers!

#trusted pine programmers for hire

- We cannot control our emotions,
but we can control our keyboard -
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.

Want to use this script on a chart?