OPEN-SOURCE SCRIPT
Actualizado First Candle Connection + Mirror Projection
First Candle Projection with Mirror Channel (Multi-Day Selector)
📝 Short Description
Projects the relationship between consecutive trading days’ first candles and extends it into a forward-looking mirrored channel for intraday structure analysis.
📖 Full Description (Use this in TradingView)
🔷 Overview
This script builds a geometric projection model using the first candle of each trading day. It connects consecutive days and extends that relationship forward to create a dynamic trend path along with its mirrored counterpart, forming a projected channel.
Unlike traditional indicators, this approach focuses on inter-day structural continuity, allowing traders to anticipate potential price movement zones based on prior session behavior.
⚙️ How It Works
First Candle Detection
Automatically detects the first candle of every trading day (robust to holidays/weekends).
Day-to-Day Connection
Connects:
Previous day first candle High → Current day first candle High
Previous day first candle Low → Current day first candle Low
Forward Projection (74 Bars)
Extends the slope of these connections into the future using dotted lines.
Mirror Projection
Generates a mirror image of projected lines around the current day’s first candle.
This creates a forward-looking price channel.
Day Selector
Choose which pair of days to visualize:
0 → Current vs Previous day
1 → Previous vs Older day
and so on
📊 What You See on Chart
Solid Lines
Represent actual connection between two consecutive days.
Dotted Lines
Represent projected future path (74 bars ahead).
Mirror Lines
Symmetrical projections forming a channel-like structure.
🧠 Interpretation
The projection acts as a directional bias guide.
Mirror lines act as dynamic support/resistance zones.
The structure can resemble:
Trend continuation channels
Expansion/contraction zones
Symmetry-based price movement
🎯 Best Use Cases
Intraday trading (1m / 5m / 15m)
Index instruments (NIFTY, BANKNIFTY, etc.)
Identifying:
Breakouts from projected structure
Mean reversion within mirrored channel
Session-to-session momentum shifts
⚠️ Notes
Works best on intraday timeframes.
Requires at least 2 trading days of data.
Projections are geometric references, not signals.
Holiday gaps are handled automatically.
This is just for study purpose.
📝 Short Description
Projects the relationship between consecutive trading days’ first candles and extends it into a forward-looking mirrored channel for intraday structure analysis.
📖 Full Description (Use this in TradingView)
🔷 Overview
This script builds a geometric projection model using the first candle of each trading day. It connects consecutive days and extends that relationship forward to create a dynamic trend path along with its mirrored counterpart, forming a projected channel.
Unlike traditional indicators, this approach focuses on inter-day structural continuity, allowing traders to anticipate potential price movement zones based on prior session behavior.
⚙️ How It Works
First Candle Detection
Automatically detects the first candle of every trading day (robust to holidays/weekends).
Day-to-Day Connection
Connects:
Previous day first candle High → Current day first candle High
Previous day first candle Low → Current day first candle Low
Forward Projection (74 Bars)
Extends the slope of these connections into the future using dotted lines.
Mirror Projection
Generates a mirror image of projected lines around the current day’s first candle.
This creates a forward-looking price channel.
Day Selector
Choose which pair of days to visualize:
0 → Current vs Previous day
1 → Previous vs Older day
and so on
📊 What You See on Chart
Solid Lines
Represent actual connection between two consecutive days.
Dotted Lines
Represent projected future path (74 bars ahead).
Mirror Lines
Symmetrical projections forming a channel-like structure.
🧠 Interpretation
The projection acts as a directional bias guide.
Mirror lines act as dynamic support/resistance zones.
The structure can resemble:
Trend continuation channels
Expansion/contraction zones
Symmetry-based price movement
🎯 Best Use Cases
Intraday trading (1m / 5m / 15m)
Index instruments (NIFTY, BANKNIFTY, etc.)
Identifying:
Breakouts from projected structure
Mean reversion within mirrored channel
Session-to-session momentum shifts
⚠️ Notes
Works best on intraday timeframes.
Requires at least 2 trading days of data.
Projections are geometric references, not signals.
Holiday gaps are handled automatically.
This is just for study purpose.
Notas de prensa
Lines extension has been made user friendly.Notas de prensa
It automatically identifies a unique intraday reference candle based on the current calendar date and plots its key levels in real time. This indicator is designed for intraday charts only.Notas de prensa
Works same on 5m / 15m / any timeframeNotas de prensa
Draws line extensions till current last barScript de código abierto
Fiel al espíritu de TradingView, el creador de este script lo ha convertido en código abierto, para que los traders puedan revisar y verificar su funcionalidad. ¡Enhorabuena al autor! Aunque puede utilizarlo de forma gratuita, recuerde que cualquier republicación del código está sujeta a nuestras Normas internas.
Exención de responsabilidad
La información y las publicaciones no constituyen, ni deben considerarse como, asesoramiento o recomendaciones financieras, de inversión, de trading u otro tipo, proporcionadas o respaldadas por TradingView. Obtenga más información en Condiciones de uso.
Script de código abierto
Fiel al espíritu de TradingView, el creador de este script lo ha convertido en código abierto, para que los traders puedan revisar y verificar su funcionalidad. ¡Enhorabuena al autor! Aunque puede utilizarlo de forma gratuita, recuerde que cualquier republicación del código está sujeta a nuestras Normas internas.
Exención de responsabilidad
La información y las publicaciones no constituyen, ni deben considerarse como, asesoramiento o recomendaciones financieras, de inversión, de trading u otro tipo, proporcionadas o respaldadas por TradingView. Obtenga más información en Condiciones de uso.