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Botnet101

Period Open

Botnet101  
forecasting multitimeframe Trend Analysis supportandresistancezones trend open macro candle supplydemandtrading multi-timeframe
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forecasting multitimeframe trendanalysis supportandresistancezones trend open macro candle supplydemandtrading multi-timeframe
A very simple indicator that displays the Open of the specified Timeframe

How to use this indicator?
1. Directional Bias
  • Bullish => Closing Price > Period Open
  • Bearish => Closing Price < Period Open

2. Support / Resistance
Each Period Open can be used as Support or Resistance

3. Take Profit Targets
Each Period Open can be used as targets for taking profit
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.

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