Following my previous script: Automatic Half Price, I am releasing this indicator which plots the half prices of yesterday, previous week and previous month.
Similar to previous day's half and today's half prices, last week's half and last month's half are often recognized as support and resistance.(see the sample chart below)
Sample chart
Features; -Draw the following prices 1. Yesterday's half price and to be displayed on 4hour timeframe or below 2. Last week's half price and to be displayed on daily timeframe or below 3. Last month's half price and to be displayed on weekly timeframe or below
Note; those prices are drawn depending on the timeframe that users are on, based on the concept that lower timeframe data should not be shown on higher timeframe.
-Look back period Users can input the number of candlesticks to look back to draw half prices.
Hi can you also add half price of openings? As i can see it's also solid and respected by the algos. (Opening price of 1st week + Opening price of 2snd week) / 2. instead of HL/2 as an option i mean. plus.
terstenb369
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great thank you
clowery
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Great script! Only thing I would add is ability to use it on 1M.
could you please add quarterly half price and yearly half price? also can you combine your automatic half price indicator with this due to indicator limits
FX365_Thailand
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@terstenb369, Hi, thank you for your suggestion. I just released an updated version incorporating last year half, half-year half and last quarter half. Appreciate your feedback.
asdasd1205
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Hi, can you release the script code? I would like to modify it for LTF like 1H, 4H etc (only for myself)
Also, is there a way to make it the current days, weeks etc half? so it takes the latest lows and highs of the selected timeframe, sort of a dynamic half-price