Simple script that checks for gaps in price from CME. tickerid(x, y, sess) doesn't seem to be applying correctly for the ticker specified at the moment so there are a couple of 'gaps' peppered on lower timeframes.
Gaps are legitimate price levels to look as a support or resistance. The theory is that volume needs to be gap filled, but I currently believe it's an easy entry/exit trade for those who can move the market. I don't think there is sound analysis behind the why, but it is real.
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Added option to plot current chart's real close for assistance in finding alternative support/resistance.
This image below doesn't have the additional line but shows VPVR with developing VA (value area) on to show how the VA may pull price into it. If you believe that's why, anyway.
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Added a fill for close/CME colored yellow The correct picture
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Rewritten, the old version is at the bottom if you choose to use that one instead.
There is an option to only have it plotted for the weekend. This helps make the indicator cleaning when there are no trades on a low timeframe. This can be problematic for Friday/Monday holidays where CME is closed, so it is off by default.
The other option selects chart or CME price source, with chart on by default. This means that the price when CME closes for the week would be based on the chart currently being viewed.
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Removed drawings because hidden drawings get published even when they are hidden on the chart
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Added +/-1% lines to the CME close for analysis. Can be used as support and resistance.
Could be a different candy, but it reminds me of Hi-Chews.
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Put my name in the short title (´･ω･`)
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Changed the 'chartPrice' variable to use open instead of close for its data source. This makes it considerably more consistent when changing timeframes. Note that this is for current chart price only, so some variance is to be expected.
Hi Butane! So is this script working well now? I was just recommended it - thanks.
syrinxflunki
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Thanks homeslice :D
nagihatoum
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Keep it up. Thanks.
krollic1
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Thanks for this useful indicator. Do you think adding an option to indicate when the CME open/closes could be added, please? maybe a vertical line? cheers