OPEN-SOURCE SCRIPT
Adaptive Point Offset Rays
Adaptive Offset Rays
Futures Point
Plots up to five configurable horizontal rays above current price and five below, each set by a fixed point offset from a chosen price source (default: close). Rays reposition at a user-defined interval rather than every tick, keeping the chart legible instead of accumulating redundant lines.
Inputs
Price reference (source)
Ray length (bars projected forward)
Update frequency (minutes; set to 0 for tick-by-tick tracking)
Five above/below levels, each independently toggled with its own point value
Line colors and optional point-value labels
Use case: dynamic reference levels for gauging distance traveled or remaining toward a target — useful for scalping or intraday setups where fixed dollar/point thresholds matter more than static support/resistance.
Note: rays reflect live price offsets and are not predictive signals; they do not repaint historical values, only their forward projection updates.
Futures Point
Plots up to five configurable horizontal rays above current price and five below, each set by a fixed point offset from a chosen price source (default: close). Rays reposition at a user-defined interval rather than every tick, keeping the chart legible instead of accumulating redundant lines.
Inputs
Price reference (source)
Ray length (bars projected forward)
Update frequency (minutes; set to 0 for tick-by-tick tracking)
Five above/below levels, each independently toggled with its own point value
Line colors and optional point-value labels
Use case: dynamic reference levels for gauging distance traveled or remaining toward a target — useful for scalping or intraday setups where fixed dollar/point thresholds matter more than static support/resistance.
Note: rays reflect live price offsets and are not predictive signals; they do not repaint historical values, only their forward projection updates.
Open-source script
In true TradingView spirit, the creator of this script has made it open-source, so that traders can review and verify its functionality. Kudos to the author! While you can use it for free, remember that republishing the code is subject to our House Rules.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Open-source script
In true TradingView spirit, the creator of this script has made it open-source, so that traders can review and verify its functionality. Kudos to the author! While you can use it for free, remember that republishing the code is subject to our House Rules.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.