LazyBear

Earnings S/R Levels [LazyBear]

These levels are based on price around earnings day. I have implemented support for 2 calculation modes:

Mode 1: Level = (low of 1 day prior to earnings + high of 1 day after earnings ) / 2.0
Mode 2: Level = ( hl2 of 1 day prior to earnings + hl2 of 1 day after earnings + close from earnings day) / 3.0

Chart above shows "Mode 1". Mode can be changed via options page.

This indicator was requested by user @mika2k1ff. I learnt more about this idea from @DanV and @TimWest (Thanks guys :)). BTW, TimWest has an indicators package, "Key Hidden Levels", that has this and more.

Do let me know how you use this, I am very intrigued by the potential this idea shows. Thanks.

For a complete list of my indicators:
- GDoc: https://docs.google.com/document/d/15AGC...
- Chart:
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//
// @author LazyBear 
// List of all my indicators: https://www.tradingview.com/v/4IneGo8h/
//
study("Earnings S/R Levels [LazyBear]", shorttitle="ELVLS_LB", overlay=true)
mode=input(1, "S/R mode", minval=1, maxval=2)
earnings = security("ESD:"+ticker+"_EARNINGS", "D", close, true)
ehl2_mode1=(nz(earnings[1]) ? avg(low[2],high) : nz(ehl2_mode1[1])) // AVG2(low of 1 day pri, high of 1 day after)
ehl2_mode2=(nz(earnings[1]) ? (hl2[2]+hl2+close[1])/3 : nz(ehl2_mode2[1])) // AVG3(HL2 of 1 day pri, HL2 of 1 day after, close of earnings day)
ehl2=mode==1?ehl2_mode1:mode==2?ehl2_mode2:ehl2_mode1 // default: mode1
plot(ehl2, linewidth=2, style=circles)
buddy looks really promising ..

it doesnt work on indian stocks .. kindly help
+2 Reply
Hello LB. I was wondering if you could take look at this indicator. It doesn't seem to be working properly. Please let me know. Thank you
Reply
I also picked up this idea back in 1997 from reading Martin Pring's book "Technical Analysis Explained".

Can you make support / resistance for monthly options expiration's. He also mentioned this idea.
+4 Reply
TradeEmpowered QuantitativeExhaustion
That sounds like a great idea.
Reply
LazyBear QuantitativeExhaustion
monthly options expirations? Can you point me to how I view them now here at TV? Thx
Reply
I imagine this could be very useful for Forex traders IF it could be adjusted for High Impact news releases!!! Rate decisions, GDP reports, etc etc.
Reply
LazyBear coondawg71
If they are exposed to Pine, surely we can adapt this to that. Thanks for the idea.
Reply
Thanks, LB!
Reply
timwest mika2k1ff
You are welcome
Reply
Did you come up with this idea first? or was it Martin Pring
Reply
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