Daily Close Levels with ATR and Custom Offsets

19 Jan

Description:
This Pine Script visualizes daily close levels, calculates key price zones based on custom offsets and ATR (Average True Range), and is an essential tool for traders analyzing support and resistance zones.

Features

• Close Value Line: Displays the daily close value as a line on the chart.
  
• ATR Values: Shows the ATR value in both price and tick format.
  
• Custom Offsets:
  Calculates positive and negative price levels based on a user-defined tick offset.
  Supports multipliers for extended zones (e.g., 2x offset).
  
• Labels:
  Displays the close value and ATR on the chart.
  Annotates calculated price levels directly on the corresponding lines.
  
• Time Control: Calculates levels at a user-defined hour (e.g., 20:00).
  

Customizable Parameters:

• Close Time (Hour): Choose the specific hour for analyzing the close price.
  
• Custom Line Offset: Define the price offset in ticks.
  
• ATR Length: Adjust the ATR calculation length.
  
• Timezone Offset: Supports time adjustments for different time zones.
  
• Enable/Disable Labels and Values: Toggle the display of labels and values on the chart.
  

19 Jan

Nota Keluaran

Adjusted Label Positioning:

• The labels for the custom close value and ATR have been updated to use style_label_right.
  
• This change ensures that the labels do not overlap with plotted lines, improving chart clarity and readability.
  

19 Jan

Nota Keluaran

Improved Label Management

• Labels are now deleted upon updating to ensure that only the most recent values are displayed on the chart
  

19 Jan

Nota Keluaran

Added Input Variable: Offset distance ticks

• Allows users to control the vertical distance of labels from the plotted lines.
  
• The offset is specified in ticks for precise positioning on the chart.