by mikeyhu70· code credited to Kam Low <auscaster@gmail.com>
A Pine Script v4 indicator that plots the point of control, value area high and value area low for daily, weekly and monthly periods on the price chart.
1Copy the scriptPress Copy script above. It reads the file straight from GitHub.
2Open the Pine EditorOpen a TradingView chart and choose Pine Editor at the bottom of the screen.
3Paste over the templateCreate a new indicator, select all of the template text and paste. Press Save and give it a name.
4Add it to the chartPress Add to chart, then adjust the settings with the gear icon next to its name.
Source Code
The code stays on GitHub. The author has not published this script under an open licence, so ForexR does not show its code. Copy script reads the file straight from GitHub into your clipboard, so you can still try it on your own chart. Ask the author before reusing the code anywhere else.
Overview
D/W/M POC VAH VAL Area shows both the developing and the previous period, with optional shaded areas, target lines and text labels. Settings include the value area share, price resolution, maximum lookback days, label display and colours for each period. It is a levels tool and gives no entry or exit rules.
The inputs you can change from the gear icon on the chart. Defaults are the author's.
Setting
Type
Default
Variable
Show label background
bool
false
ShowLabelBackground
Show label values
bool
true
ShowLabelValues
Extend axis lines across chart
bool
false
ExtendAxisLine
Maximum lookback days
int
1000
MaxLookbackDays
Value Area (Igor 0.7 / Daniel 0.68)
float
0.68
VAPercent
Resolution (Change resolution to Symbol decimal)
float
0.001
CCVResolution
Show developing day
bool
true
CCVDailyShowDev
Show previous day
bool
true
CCVDailyShowPrev
Show daily areas
bool
false
CCVDailyShowArea
Daily color
color
color.yellow
CCVDailyColor
Daily dev color
color
color.white
CCVDailyDevColor
Daily target color
color
color.gray
CCVDailyTargetColor
Show all 37 settings
Setting
Type
Default
Variable
Daily text color
color
color.black
CCVDailyTextColor
Daily Time Frame
timeframe
D
tf_d
Daily Time Frame Target 1
float
1.000
tf_d_t1
Daily Time Frame Target 2
float
2.000
tf_d_t2
Daily Time Frame Target 3
float
3.000
tf_d_t3
Show developing week
bool
false
CCVWeeklyShowDev
Show previous week
bool
true
CCVWeeklyShowPrev
Show weekly areas
bool
false
CCVWeeklyShowArea
Weekly color
color
color.blue
CCVWeeklyColor
Weekly target color
color
color.gray
CCVWeeklyTargetColor
Weekly text color
color
color.white
CCVWeeklyTextColor
Weekly Time Frame
timeframe
W
tf_w
Weekly Time Frame Target 1
float
1.000
tf_w_t1
Weekly Time Frame Target 2
float
2.000
tf_w_t2
Weekly Time Frame Target 3
float
3.000
tf_w_t3
Show developing month
bool
false
CCVMonthlyShowDev
Show previous month
bool
true
CCVMonthlyShowPrev
Show monthly areas
bool
false
CCVMonthlyShowArea
Monthly color
color
color.purple
CCVMonthlyColor
Monthly target color
color
color.gray
CCVMonthlyTargetColor
Monthly text color
color
color.white
CCVMonthlyTextColor
Monthly Time Frame
timeframe
M
tf_m
Monthly Time Frame Target 1
float
1.000
tf_m_t1
Monthly Time Frame Target 2
float
2.000
tf_m_t2
Monthly Time Frame Target 3
float
3.000
tf_m_t3
Third-party code. ForexR did not write, test or endorse this script, and the summary above was generated automatically from its code and README. Indicators describe the past, and a strategy's backtest can look better than live trading, especially when a script repaints. Check it in the Strategy Tester and on a demo account before you rely on it.
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