OPEN-SOURCE SCRIPT
Infinity Signal- High & Low Memory Locations
High & Low Cycle Memory Locations is a visual cycle-location tool designed to mark repeated price high and price low areas directly on the chart.
The indicator uses RSI pivot highs and RSI pivot lows to identify previous turning points. After a pivot is detected, the script compares that location against prior cycle locations using the selected cycle length and tolerance setting.
Each balloon shows whether the area was a Price High or Price Low, followed by a Location Hit count. For example, Location Hit twenty-five times means that similar high or low locations have repeated twenty-five times within the selected cycle-memory rules.
The projected balloons show the next probable Price High and Price Low locations based on either Recent Rhythm or the selected cycle-memory model.
Recommended 122-day cycle settings:
1 Hour chart: 2928 bars
2 Hour chart: 1464 bars
4 Hour chart: 720 bars
6 Hour chart: 488 bars
8 Hour chart: 366 bars
12 Hour chart: 244 bars
1 Day chart: 122 bars
These settings are included so users can configure the indicator correctly for the chart timeframe they are using. The 4 Hour setting uses 720 bars.
The Location Hit count depends on the selected cycle length and tolerance setting. Different assets and timeframes may require adjustment.
This indicator does not predict the exact price. It is designed to highlight timing areas where highs or lows have historically repeated. It should be used as a visual timing reference alongside price action, trend, support and resistance, volume, and risk-management methods.
This is not trading advice. Always do your own research.
The indicator uses RSI pivot highs and RSI pivot lows to identify previous turning points. After a pivot is detected, the script compares that location against prior cycle locations using the selected cycle length and tolerance setting.
Each balloon shows whether the area was a Price High or Price Low, followed by a Location Hit count. For example, Location Hit twenty-five times means that similar high or low locations have repeated twenty-five times within the selected cycle-memory rules.
The projected balloons show the next probable Price High and Price Low locations based on either Recent Rhythm or the selected cycle-memory model.
Recommended 122-day cycle settings:
1 Hour chart: 2928 bars
2 Hour chart: 1464 bars
4 Hour chart: 720 bars
6 Hour chart: 488 bars
8 Hour chart: 366 bars
12 Hour chart: 244 bars
1 Day chart: 122 bars
These settings are included so users can configure the indicator correctly for the chart timeframe they are using. The 4 Hour setting uses 720 bars.
The Location Hit count depends on the selected cycle length and tolerance setting. Different assets and timeframes may require adjustment.
This indicator does not predict the exact price. It is designed to highlight timing areas where highs or lows have historically repeated. It should be used as a visual timing reference alongside price action, trend, support and resistance, volume, and risk-management methods.
This is not trading advice. Always do your own research.
Script de código aberto
Em verdadeiro espírito do TradingView, o criador deste script o tornou de código aberto, para que os traders possam revisar e verificar sua funcionalidade. Parabéns ao autor! Embora você possa usá-lo gratuitamente, lembre-se de que a republicação do código está sujeita às nossas Regras da Casa.
Aviso legal
As informações e publicações não se destinam a ser, e não constituem, conselhos ou recomendações financeiras, de investimento, comerciais ou de outro tipo fornecidos ou endossados pela TradingView. Leia mais nos Termos de Uso.
Script de código aberto
Em verdadeiro espírito do TradingView, o criador deste script o tornou de código aberto, para que os traders possam revisar e verificar sua funcionalidade. Parabéns ao autor! Embora você possa usá-lo gratuitamente, lembre-se de que a republicação do código está sujeita às nossas Regras da Casa.
Aviso legal
As informações e publicações não se destinam a ser, e não constituem, conselhos ou recomendações financeiras, de investimento, comerciais ou de outro tipo fornecidos ou endossados pela TradingView. Leia mais nos Termos de Uso.