OPEN-SOURCE SCRIPT
Developing FAB4 Zone
# Developing FAB4 Zone — Indicator Documentation
## Overview
The Developing FAB4 Zone is a TradingView indicator designed to visualize a dynamic price zone using four key reference elements: the 20 SMA, 200 SMA, current day's closing price, and the high and low of the last 45 minutes.
## Calculation Logic
- **20 SMA:** Identifies the short-term trend.
- **200 SMA:** Provides a longer-term trend reference.
- **Current day's closing price:** Uses the latest available price/close during the ongoing session.
- **Last 45-minute high and low:** Tracks the highest and lowest prices over a rolling 45-minute window. On a 2-minute chart, this uses 23 candles (approximately 46 minutes).
## Zone Formation
- **Zone High:** The highest value among the 20 SMA, 200 SMA, current price, and rolling 45-minute high.
- **Zone Low:** The lowest value among the 20 SMA, 200 SMA, current price, and rolling 45-minute low.
The zone updates as market conditions change, allowing traders to observe shifts in price structure and key reference levels.
## Intended Use
The indicator is intended to help traders visualize dynamic support and resistance areas, monitor price relative to moving averages, and identify potential breakout or rejection zones.
**Note:** This is a custom interpretation of the FAB4 concept, not a verified reproduction of Oliver Velez's exact trading rules. The indicator provides visual reference levels and does not independently generate trade signals.
## Overview
The Developing FAB4 Zone is a TradingView indicator designed to visualize a dynamic price zone using four key reference elements: the 20 SMA, 200 SMA, current day's closing price, and the high and low of the last 45 minutes.
## Calculation Logic
- **20 SMA:** Identifies the short-term trend.
- **200 SMA:** Provides a longer-term trend reference.
- **Current day's closing price:** Uses the latest available price/close during the ongoing session.
- **Last 45-minute high and low:** Tracks the highest and lowest prices over a rolling 45-minute window. On a 2-minute chart, this uses 23 candles (approximately 46 minutes).
## Zone Formation
- **Zone High:** The highest value among the 20 SMA, 200 SMA, current price, and rolling 45-minute high.
- **Zone Low:** The lowest value among the 20 SMA, 200 SMA, current price, and rolling 45-minute low.
The zone updates as market conditions change, allowing traders to observe shifts in price structure and key reference levels.
## Intended Use
The indicator is intended to help traders visualize dynamic support and resistance areas, monitor price relative to moving averages, and identify potential breakout or rejection zones.
**Note:** This is a custom interpretation of the FAB4 concept, not a verified reproduction of Oliver Velez's exact trading rules. The indicator provides visual reference levels and does not independently generate trade signals.
Script open-source
Dans l'esprit TradingView, le créateur de ce script l'a rendu open source afin que les traders puissent examiner et vérifier ses fonctionnalités. Bravo à l'auteur! Bien que vous puissiez l'utiliser gratuitement, n'oubliez pas que la republication du code est soumise à nos Règles.
Clause de non-responsabilité
Les informations et publications ne sont pas destinées à être, et ne constituent pas, des conseils ou recommandations financiers, d'investissement, de trading ou autres fournis ou approuvés par TradingView. Pour en savoir plus, consultez les Conditions d'utilisation.
Script open-source
Dans l'esprit TradingView, le créateur de ce script l'a rendu open source afin que les traders puissent examiner et vérifier ses fonctionnalités. Bravo à l'auteur! Bien que vous puissiez l'utiliser gratuitement, n'oubliez pas que la republication du code est soumise à nos Règles.
Clause de non-responsabilité
Les informations et publications ne sont pas destinées à être, et ne constituent pas, des conseils ou recommandations financiers, d'investissement, de trading ou autres fournis ou approuvés par TradingView. Pour en savoir plus, consultez les Conditions d'utilisation.