OPEN-SOURCE SCRIPT
Обновлено 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.
Информация о релизе
Lines extension has been made user friendly.Информация о релизе
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.Информация о релизе
Works same on 5m / 15m / any timeframeИнформация о релизе
Draws line extensions till current last barСкрипт с открытым кодом
В истинном духе TradingView, создатель этого скрипта сделал его открытым исходным кодом, чтобы трейдеры могли проверить и убедиться в его функциональности. Браво автору! Вы можете использовать его бесплатно, но помните, что перепубликация кода подчиняется нашим Правилам поведения.
Отказ от ответственности
Информация и публикации не предназначены для предоставления и не являются финансовыми, инвестиционными, торговыми или другими видами советов или рекомендаций, предоставленных или одобренных TradingView. Подробнее читайте в Условиях использования.
Скрипт с открытым кодом
В истинном духе TradingView, создатель этого скрипта сделал его открытым исходным кодом, чтобы трейдеры могли проверить и убедиться в его функциональности. Браво автору! Вы можете использовать его бесплатно, но помните, что перепубликация кода подчиняется нашим Правилам поведения.
Отказ от ответственности
Информация и публикации не предназначены для предоставления и не являются финансовыми, инвестиционными, торговыми или другими видами советов или рекомендаций, предоставленных или одобренных TradingView. Подробнее читайте в Условиях использования.