Low Timeframe POC

15 Jun 2021

I have recently made a High Timeframe POC script (HFT POC) which is pretty popular. Thanks for this!
There are many requests to include lower timeframes in this script, that is why I created this script. I could have incorporated all the timeframe POC's into one indicator but I went this route to keep things more organized between all the different timeframes.

Currently included: Daily, 6H, 3H and 1H

/* DEFINITION */
Point Of Control (= POC) is a price level at which the heaviest volumes were traded.

/* HOW TO TRADE WITH THIS INDICATOR */
The basis for POC is determining bias on whichever timeframe you choose.

1. Identify a POC on the timeframe of your choosing.
/* If you choose the lowest timeframe (1H here) then always make sure to look at the higher timeframes to see how it is trading against a HTF POC.
2. When the price is moving away from the POC (either to the upside or downside) this can confirm or invalidate a trade.
3. You can now enter the trade on bias or wait for a retest of the same POC.

/* EXAMPLE TRADES /*
Here is a screenshot of some of the trades that are possible using these Low Timeframe POC's and some common sense.

s3.tradingview.com/snapshots/k/kh29HLZG.png

15 Jun 2021

Nota Keluaran

Added 'readable' input (boolean) under 'Options'. Default is set to false. Enabling this makes sure that the lines are being rendered from the current bar therefore only showing lines where no candle has been.

31 Ogo 2021

Nota Keluaran

BIG UPDATE

Hi guys! Thanks for all the likes the past months. While I have been quiet, I have silently been building a market profile script that combines both high and low timeframe POC's (and more) into one indicator. The indicator is currently still private but you can have access with this link:

I will still be updating the HTF and LTF POC scripts but mainly focused on the Market Profile script.

In this update:
+ BIG CALCULATION CHANGE. Thanks to LonesomeTheBlue the indicator now works better than before.
+ Added the '12h' timeframe to custom