OPEN-SOURCE SCRIPT
Asterion Level Weave [JOAT]
Asterion Level Weave [JOAT]
Introduction
Asterion Level Weave is an open-source reference-level and directional-bias overlay built around daily pivots, weekly pivots, a weighted EMA weave, and opening-range structure. Its purpose is to show where price is located relative to higher-order reference levels while also showing whether internal directional pressure is aligned with those levels.
The problem this script solves is context stacking. Traders frequently use pivot lattices, moving averages, and opening ranges separately, then mentally combine them. Asterion Level Weave places those components into one framework so the user can evaluate premium versus discount location, directional weave bias, and session structure from a single chart layer.
Core Concepts
1. Daily And Weekly Pivot Lattice
The script calculates prior-day and prior-week pivot references and extends them forward on the chart. Daily pivot, R1, S1, R2, and S2 create the near-term lattice, while weekly pivot references provide a slower macro anchor.
2. Weighted EMA Weave
Instead of averaging EMAs equally, the script weights multiple EMAs by their recent slope magnitude. This gives more influence to the parts of the curve that are moving with stronger directional intent.
3. Equilibrium And Location Model
The script derives an equilibrium box around the daily pivot and uses price location relative to that structure to frame premium, discount, and balance.
4. Opening Range Structure
An opening-session range is captured and projected forward with a midpoint reference. This adds a session-specific structure layer that can be compared against pivot and weave alignment.
Features
Input Parameters
Reference Levels:
Ribbon Engine And Display:
How to Use This Indicator
Step 1: Determine whether price is trading above or below the daily pivot and weekly pivot.
Step 2: Use the weave centerline and cloud direction to judge whether internal momentum aligns with that location.
Step 3: Treat the equilibrium box as a balance region and the pivot lattice as directional reference.
Step 4: Use the opening range and midpoint to see whether the session is accepting above or below initial balance.
Step 5: Prefer trades where location, weave bias, and opening-range behavior point in the same direction.
Indicator Limitations
Originality Statement
Asterion Level Weave is original in how it combines forward pivot lattices, a slope-weighted EMA weave, and opening-range structure into one location-versus-bias framework. Each component answers a different part of the same question: where price is, how it is moving, and how the active session is organizing around reference levels.
Disclaimer
This indicator is provided for educational and informational purposes only. It is not financial advice. Pivot levels, equilibrium zones, and moving-average structure are analytical tools and should not be treated as guaranteed reaction levels.
-Made with passion by jackofalltrades
Introduction
Asterion Level Weave is an open-source reference-level and directional-bias overlay built around daily pivots, weekly pivots, a weighted EMA weave, and opening-range structure. Its purpose is to show where price is located relative to higher-order reference levels while also showing whether internal directional pressure is aligned with those levels.
The problem this script solves is context stacking. Traders frequently use pivot lattices, moving averages, and opening ranges separately, then mentally combine them. Asterion Level Weave places those components into one framework so the user can evaluate premium versus discount location, directional weave bias, and session structure from a single chart layer.
Core Concepts
1. Daily And Weekly Pivot Lattice
The script calculates prior-day and prior-week pivot references and extends them forward on the chart. Daily pivot, R1, S1, R2, and S2 create the near-term lattice, while weekly pivot references provide a slower macro anchor.
2. Weighted EMA Weave
Instead of averaging EMAs equally, the script weights multiple EMAs by their recent slope magnitude. This gives more influence to the parts of the curve that are moving with stronger directional intent.
3. Equilibrium And Location Model
The script derives an equilibrium box around the daily pivot and uses price location relative to that structure to frame premium, discount, and balance.
4. Opening Range Structure
An opening-session range is captured and projected forward with a midpoint reference. This adds a session-specific structure layer that can be compared against pivot and weave alignment.
Features
- Daily pivot lattice: D-pivot, R1, S1, R2, and S2 with forward extension
- Weekly pivot lattice: Weekly pivot references for broader context
- Daily equilibrium box: Optional box around the central daily balance zone
- Weighted EMA weave: Multi-EMA directional cloud with weighted centerline
- Location labeling: Right-edge labels for major active references
- Opening range projection: Session range and midpoint extension
- Directional candle tint: Candle state can reflect weave direction
- Dashboard: Displays location, directional bias, pivot state, and opening structure context
- Higher-order reference integration: Daily, weekly, session, and EMA structure in one chart layer
Input Parameters
Reference Levels:
- Daily and weekly pivot toggles
- Forward extension controls
- Equilibrium box toggle
Ribbon Engine And Display:
- EMA weave toggle, centerline toggle, ribbon smoothing, and slope lookback for weighting
- Opening range session and extension
- Dashboard, candle-color, and background toggles
How to Use This Indicator
Step 1: Determine whether price is trading above or below the daily pivot and weekly pivot.
Step 2: Use the weave centerline and cloud direction to judge whether internal momentum aligns with that location.
Step 3: Treat the equilibrium box as a balance region and the pivot lattice as directional reference.
Step 4: Use the opening range and midpoint to see whether the session is accepting above or below initial balance.
Step 5: Prefer trades where location, weave bias, and opening-range behavior point in the same direction.
Indicator Limitations
- Pivot references are static for the active session and do not adapt intraday until the next period begins
- The weighted weave still relies on lagging EMA calculations and will trail abrupt reversals
- Opening range significance depends on the instrument and session chosen
- This script is best used as a context framework rather than as a standalone entry trigger
Originality Statement
Asterion Level Weave is original in how it combines forward pivot lattices, a slope-weighted EMA weave, and opening-range structure into one location-versus-bias framework. Each component answers a different part of the same question: where price is, how it is moving, and how the active session is organizing around reference levels.
Disclaimer
This indicator is provided for educational and informational purposes only. It is not financial advice. Pivot levels, equilibrium zones, and moving-average structure are analytical tools and should not be treated as guaranteed reaction levels.
-Made with passion by jackofalltrades
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.
The Institutional Grade Trading Ecosystem, Built to win trades 📈
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jackofalltrades.vip 🌐
t.me/jackofalltradesvip 🃏
Get Access 👇
jackofalltrades.vip 🌐
t.me/jackofalltradesvip 🃏
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.
The Institutional Grade Trading Ecosystem, Built to win trades 📈
Get Access 👇
jackofalltrades.vip 🌐
t.me/jackofalltradesvip 🃏
Get Access 👇
jackofalltrades.vip 🌐
t.me/jackofalltradesvip 🃏
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.