OPEN-SOURCE SCRIPT

Pre-COVID High and COVID Low

Overview
The "Pre-COVID High and COVID Low" indicator is designed to identify and mark significant price levels on your chart, specifically targeting the pre-COVID-19 high and the low during the initial COVID-19 market impact. This script is particularly useful for traders who are interested in analyzing how stocks or other financial instruments reacted during the onset of the COVID-19 pandemic, providing a historical perspective that may help in making informed trading decisions.

How It Works
  • Date Ranges: The script uses predefined date ranges to calculate the highest and lowest price levels before and during the early stages of the COVID-19 pandemic. These ranges are:
  • Pre-COVID High: Between January 1, 2020, and March 31, 2020.
  • COVID Low: Between March 1, 2020, and March 31, 2020.
  • Calculation Method:
  • The highest price during the pre-COVID period is tracked and recorded as the "Pre-COVID High".
  • The lowest price during the specified COVID period is tracked and recorded as the "COVID Low".
  • Visibility Conditions: The script includes logic to ensure that these historical levels are only displayed if they fall within a range close to the current visible price range on the chart. This prevents the indicator from compressing the price scale unduly.

How to Use It

  • Adding to Your Chart: To use this indicator, add it to any chart on TradingView. It works best with daily time frames to clearly visualize the impact over these specific months.
  • Interpretation:
  • The "Pre-COVID High" is marked with a red line and is labeled the first day it becomes applicable.
  • The "COVID Low" is marked with a green line and is similarly labeled on its applicable day.
  • Trading Strategy Consideration: Traders can use these historical levels as potential support or resistance zones for their trading strategies. These levels can indicate significant price points where the market previously showed strong reactions.
Chart patternsSupport and Resistance

オープンソーススクリプト

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