PROTECTED SOURCE SCRIPT
Probability Daily High/Low [Dova Lazarus]
Key Features:
✅ PDH/PDL (Previous Daily High/Low) – Displays the previous day's high and low.
✅ Open Level – Marks the current day's opening price.
✅ Opposite Move Levels – Plots probability-based price movement levels in both directions.
✅ Customizable Styling – Allows users to adjust line colors, styles, and font sizes.
✅ Supports Multiple Assets – Predefined probabilities for EUR/USD, with the option to add data for other instruments.
How It Works:
📌 Identifies the previous day's high, low, and open price.
📌 Calculates the percentage position of the open price relative to the prior day's range.
📌 Retrieves the corresponding probability of reaching the high/low from a 20-year historical dataset.
📌 Plots lines on the chart with probability labels.
This indicator helps traders assess the likelihood of price movements beyond previous extremes and integrate probability-based decision-making into their trading strategies. 🎯
✅ PDH/PDL (Previous Daily High/Low) – Displays the previous day's high and low.
✅ Open Level – Marks the current day's opening price.
✅ Opposite Move Levels – Plots probability-based price movement levels in both directions.
✅ Customizable Styling – Allows users to adjust line colors, styles, and font sizes.
✅ Supports Multiple Assets – Predefined probabilities for EUR/USD, with the option to add data for other instruments.
How It Works:
📌 Identifies the previous day's high, low, and open price.
📌 Calculates the percentage position of the open price relative to the prior day's range.
📌 Retrieves the corresponding probability of reaching the high/low from a 20-year historical dataset.
📌 Plots lines on the chart with probability labels.
This indicator helps traders assess the likelihood of price movements beyond previous extremes and integrate probability-based decision-making into their trading strategies. 🎯
Protected script
This script is published as closed-source. However, you can use it freely and without any limitations – learn more here.
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.
Protected script
This script is published as closed-source. However, you can use it freely and without any limitations – learn more here.
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.