Update Regarding My TradingView Indicator
I was recently contacted by the Pinecoders team and asked to provide a clearer explanation of my indicator's functionality to avoid it being removed again. I had initially thought my explanation was sufficient, but I’d like to clarify further.
The chart example provided (using Bitcoin) showcases my indicator, BK BB Horizontal Lines, in action. The lines generated by the indicator are based on the Daily timeframe, and they persist on the chart regardless of the selected timeframe. As demonstrated, these lines serve as strong levels of support and resistance, particularly evident on the Daily timeframe.
The purpose of these lines is to assist traders in understanding their positioning, as well as in calculating and projecting potential buy and sell levels. This concept is similar to that of my other indicator, BK MA Horizontal Lines, which the Pinecoders team has approved, despite having nearly the same explanation and functionality.
I hope this additional clarification is helpful. Best of luck in the Jungles and I hope I helped add a baby Uzi to your arsenal.