Description:
The "Master Fren Jedi Helper" is a TradingView indicator designed to enhance trading analysis by plotting distinct lines at crucial times of the trading day.
This indicator is an invaluable tool for traders who focus on intraday price movements and patterns around specific times. Its primary features include:
Customizable Time Markers: The script allows users to mark specific times of the day with lines of different colors and styles. These times are adjustable based on the user's timezone and preferences.
Configurable Line Properties: Users can customize the color and style of each line. The script offers options for a green line at 7 AM, a red line at 11 AM, a grey line at midnight, and a yelow line to denote the daily open.
Time Zone Adjustment: To work with New York time zone, you have ability to adjust for different time zones. Users can input their time zone offset, advised to use UTC -5 allowing the script to plot the lines accurately according to their local time.
Day Labels: The indicator also labels each day of the week at midnight, providing a clear and easy way to track the days on the chart.
Functionality Overview:
Green Line at 7 AM: This line helps identify the early morning market sentiment. Users can customize the color and style of this line.
Red Line at 11 AM: Plotted to highlight mid-morning price levels, this line is also customizable in color and style.
Grey Line at Midnight: Marks the start of a new trading day. The line style and color can be personalized.
Yellow Line for Daily Open: Indicates the opening price of the day. The line's color and style are adjustable.
Time Zone Configuration: Users can set their local time zone to ensure the lines correspond accurately with their specific market hours.
Day of the Week Labels: Each midnight is labeled with the day of the week, aiding in the weekly analysis of price patterns.
This indicator is perfect for traders who need to quickly identify key times and price levels each day. It's easily configurable to suit various trading strategies and assists in enhancing the visual representation of intraday market dynamics.
The "Master Fren Jedi Helper" is a TradingView indicator designed to enhance trading analysis by plotting distinct lines at crucial times of the trading day.
This indicator is an invaluable tool for traders who focus on intraday price movements and patterns around specific times. Its primary features include:
Customizable Time Markers: The script allows users to mark specific times of the day with lines of different colors and styles. These times are adjustable based on the user's timezone and preferences.
Configurable Line Properties: Users can customize the color and style of each line. The script offers options for a green line at 7 AM, a red line at 11 AM, a grey line at midnight, and a yelow line to denote the daily open.
Time Zone Adjustment: To work with New York time zone, you have ability to adjust for different time zones. Users can input their time zone offset, advised to use UTC -5 allowing the script to plot the lines accurately according to their local time.
Day Labels: The indicator also labels each day of the week at midnight, providing a clear and easy way to track the days on the chart.
Functionality Overview:
Green Line at 7 AM: This line helps identify the early morning market sentiment. Users can customize the color and style of this line.
Red Line at 11 AM: Plotted to highlight mid-morning price levels, this line is also customizable in color and style.
Grey Line at Midnight: Marks the start of a new trading day. The line style and color can be personalized.
Yellow Line for Daily Open: Indicates the opening price of the day. The line's color and style are adjustable.
Time Zone Configuration: Users can set their local time zone to ensure the lines correspond accurately with their specific market hours.
Day of the Week Labels: Each midnight is labeled with the day of the week, aiding in the weekly analysis of price patterns.
This indicator is perfect for traders who need to quickly identify key times and price levels each day. It's easily configurable to suit various trading strategies and assists in enhancing the visual representation of intraday market dynamics.
リリースノート:
Added:
Multi Timeframe Stochastic RSI
Stochastic RSI across multiple timeframes provide Stochastic RSI readings from the 1-minute, 15-minute, and 1-hour charts, this tool offers a multi-dimensional analysis that enhances decision-making for both short-term and medium-term trading strategies.
This indicator stands out by presenting an average value of these readings, allowing traders to gauge the overall market sentiment more effectively. By assessing whether the average Stochastic RSI is above or below certain thresholds for 1m/15m and 60m timeframe, traders can identify potential overbought or oversold conditions, enabling them to anticipate market reversals with greater confidence.
Furthermore, the indicator includes a dynamic table display that summaries the Stochastic RSI values and their average in a clear and concise manner. This table is equipped with conditional background colouring to visually signify different market conditions, making it easier for traders to digest complex information at a glance.
Stoch RSI colouring (range 100-1):
1m/15m/60m:
Red - between 100-50
Orange - between 49 and 20
Green - between 19 and 1
Entry:
Red - 100-20
Green - 19-1
The inclusion of an alert system adds another layer of functionality, enabling traders to receive notifications when the average Stochastic RSI crosses predefined levels. This feature ensures that traders do not miss potential trading opportunities, even when they are not actively monitoring the markets.
Multi Timeframe Stochastic RSI can be toggle on/off in menu option.
Multi Timeframe Stochastic RSI
Stochastic RSI across multiple timeframes provide Stochastic RSI readings from the 1-minute, 15-minute, and 1-hour charts, this tool offers a multi-dimensional analysis that enhances decision-making for both short-term and medium-term trading strategies.
This indicator stands out by presenting an average value of these readings, allowing traders to gauge the overall market sentiment more effectively. By assessing whether the average Stochastic RSI is above or below certain thresholds for 1m/15m and 60m timeframe, traders can identify potential overbought or oversold conditions, enabling them to anticipate market reversals with greater confidence.
Furthermore, the indicator includes a dynamic table display that summaries the Stochastic RSI values and their average in a clear and concise manner. This table is equipped with conditional background colouring to visually signify different market conditions, making it easier for traders to digest complex information at a glance.
Stoch RSI colouring (range 100-1):
1m/15m/60m:
Red - between 100-50
Orange - between 49 and 20
Green - between 19 and 1
Entry:
Red - 100-20
Green - 19-1
The inclusion of an alert system adds another layer of functionality, enabling traders to receive notifications when the average Stochastic RSI crosses predefined levels. This feature ensures that traders do not miss potential trading opportunities, even when they are not actively monitoring the markets.
Multi Timeframe Stochastic RSI can be toggle on/off in menu option.