This script graphics the "fantastic 4" area, was created by oliver velez and is used in the opening of the american stock market, determined by:
1- ma200 at the closure of the previous day
2- ma20 at the closure of the previous day
3- price of previous day closure
4- activity of the last 30/60 min prior to the closure of the previous day (search the maximum and minimum)
Basically it is a very important support / resistance area the first hour from the opening, the trap area is an area in which it should be avoided to operate if the price opens within the same. In advance of being used as a support / resistance area if the price opens above the 4f is looking for longer opportunities (many more aspects should be evaluated) and if it is below.
Configuration:
- possibility to modify the amount of minutes of the activity of the previous day. - possibility of hidding the "trap area" label. - possibility of hidding the "change to temporary frame of 2 min" label.
Note: the temporary framework used is the 2 min, in the event of being in another temporary framework the indicator will not work and will be alerted with a label
@whoostyle,
Sorry, I programmed it this way since the 4F works on a 2-minute time frame, as Oliver Velez teaches it, I can hardly modify the code so that it is possible to change the time frame
vlcmstone
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@whoostyle, you can add custom timeframes in tradingview at the bottom of the timeframe scrolldown menu
hi. i cannot see the zone lines on the 2 min chart. can you plz check the script once. I have not made any changes to the script
ronniebrasco33907
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Thank you! Thank you!
deshmukhag
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I checked this script and it shows "TRAP zones" based on Today data. Could you pl. help to modify the script to show and overley trap zone as per Y'day data? thanks in advance.
Elliott_wave_sniper
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@deshmukhag, yes i'd like to see previous days as well so it's easy to spot previous days actions
dr_anant_madaan
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Sir this script is not working please update it 👍🏻