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Basic Market Structure and Automatic Fibonacci Levels Indicator ThinkorSwim TOS Script - ThinkScript

Basic Market Structure and Automatic Fibonacci Levels Indicator ThinkorSwim TOS Script – ThinkScript

$55.00

Available course Basic Market Structure and Automatic Fibonacci Levels Indicator ThinkorSwim TOS Script – ThinkScript – Describing what you are looking for is rather easy. However, actually writing the ThinkScript for this indicator proved quite difficult. Price:$87

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Basic Market Structure and Automatic Fibonacci Levels Indicator ThinkorSwim TOS Script - ThinkScript 1

Basic Market Structure and Automatic Fibonacci Levels Indicator ThinkorSwim TOS Script – ThinkScript course is available you will get instantly after payment only $199 $55.

Description:

Describing what you are looking for is rather easy. However, actually writing the ThinkScript for this indicator proved quite difficult.

The basic market structure on any time frame are pivot highs and lows (also called swing highs or lows). A pivot high is a bar that has a higher high than the bar that came before it and the bar that comes after it. At least in the very short term, the bar’s high represents the high-water mark past which buyers were not able to push price, and can be considered a very minor source of potential resistance. A pivot low is the same concept inverted: a bar with a lower low relative to both the preceding and the following bars. These types of pivots are also called first-order pivots and are marked in the following screenshot.

1st order pivots Second-order pivot highs (additionally known as intermediate-time period pivots) are first-order pivot highs which are preceded and accompanied through decrease first-order pivot highs; again, this shape is inverted for second-order pivot lows. In the screenshot below, be aware that those second-order pivots start to outline a few extra extensive structural factors. It is more likely that second-order pivots will come at essential turning factors 2d order pivots Third-order pivots generally mark essential inflections and outline the maximum essential marketplace shape on any time frame. third order pivots It is viable to start seeing the context in the back of rate motion through connecting the pivot factors. Minor swings are described through connecting the 2d order pivots. minor rate swings Connecting the third order pivot factors exhibits essential rate swings. essential rate swings Now that the underlying shape of the rate motion has been revealed, I idea it might be useful to additionally upload automated fibonacci retracement strains primarily based totally at the maximum latest essential swing in rate. fibonacci retracements (click on above for sizable image) Each of the extraordinary factors can be both enabled or disabled from inside the script’s settings panel to permit for customizing the appearance of the charts. constructing up every of the extraordinary factors This indicator will paintings on any charting time-frame. MAJOR UPDATE TO BASIC MARKET STRUCTURE INDICATOR I actually have absolutely rewritten this indicator. I threw out the vintage code and began out over as though I had by no means finished this before. Doing so has allowed me to restore some discrepancies that I didn’t like. I additionally introduced new capabilities to decorate the indicator.

FIXES

UPGRADES AND NEW FEATURES

  1. The indicator is now much more responsive and is able to identify swing lines quicker.
  2. The starting point for drawing fibonacci levels has been moved to the left to align with the start of the swing line they are based on rather than at the end of the swing line as in the older version. This now matches the functionality of the fibonacci retracement drawing tool and allows the labels to be moved out of the way of the newest candles.
  3. Based on user input, the fibonacci levels may be calculated from either the most recent major or minor swing or from the previous major or minor swing.
  4. The user may now elect to show changes in price for either major or minor swings.
  5. The fibonacci levels now feature just-in-time, smart lines. Levels above 100% are automatically hidden until they are needed.
  6. The pivot points may now be determined using either the candle wicks or the bodies.

Let’s get Basic Market Structure and Automatic Fibonacci Levels Indicator ThinkorSwim TOS Script – ThinkScript course by click check out right now!


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Basic Market Structure and Automatic Fibonacci Levels Indicator ThinkorSwim TOS Script – ThinkScript course is available you can Download Instantly after payment!

Original Price : $199 – Wisvalus Price: $55

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