TSLA Low Scalp Predictor

This is a re-post, as apparently I violated house rules with posting this the last time (yikes, sorry!).

I will re-post this, if this gets taken down again, then I give up on posting scripts :-).

Anyway, this is a tool I developed for scalping TSLA short. It is coded very simply, however, the variables that dictate the coding come from advanced, statistical calculations I have done with statistical software to permit PineScript to draw conclusions based on candlestick open and close prices.
This uses the candlestick open and close prices, compares with the statistical constants that correlate to TSLA low ranges using stock trading data since TSLA's nascence in 2010. I am not really sure how else to explain this (this was TV's issue, that they couldn't understand what the coding calculations, so I really hope that this all makes sense to the powers that be!), there is a lot of stats data behind these numbers and without explaining my whole PhD thesis, I really hope that this sufficiently articulates the basis to my indicator.

In a nutshell, it uses historic data to predict low levels of of TSLA, and this historic data is magically encoded in those statistical constants that are included in my indicator programming code. The power of numerical based data is a great deal can be said by very little :).

How to use?

The indicator will give you a red line that provides a projected low value.
To use the indicator, look for major gap ups in TSLA stock. As an example, I will provide a photo below of what to look for.

Once you have identified this gap up, then you will look to the highest point and from there, go down to the indicator line, draw a trend line from that highest point. This trendline would then become your price target (see the image below):

This is not foolproof and will not work all the time, as with any indicator! But it is fairly effective. In my opinion, it would be best applied with a support/resistance based price action strategy.


Anyway, I really hope that this sufficiently explains the indicator and its clear.
Please leave any questions you have in the comments below!

Please note, I have now protected my source code seeing that I have had to disclose a little more detail than liked about my process. There is a lot of interest on TV from others in my methods. I am not interested in taking peoples money or selling my strategy but I am also not interested in being taken advantage of or having my intellectual property stolen.

I am not interested in charging people for stuff. I truly want to just help and share in this interesting world of stock trading! But, there are people that will take advantage of people like me, so please understand the situation here. I am trying to balance what TV expects in terms of disclosure, disclose enough to help someone succeed all while trying to protect the integrity of my intellectual property. This is not an easy balancing act!

Thank you all and thank you Trading View for making a platform that is easily understood by someone with absolutely no coding experience :).

Notes de version:

Post-Stock Split Modifications

Hey everyone!
As you know, TSLA underwent a stock split and it messed up the indicator a bit.
I have finally got around to updating this indicator to account for the split.
I have also modified it to be much more intuitive and user friendly. I know there were a lot of questions about how to use it properly, so I hope with the modifications this will make it more intuitive. As well, the modifications permit you to use it for both long and short plays.

I have summarized how to use it in the chart below:

So same principle as the previous version, only you do not need to draw those complex lines anymore. The line is drawn for you and you have the added advantage of seeing the trading range.

As always let me know your questions and again I apologize for the delay in updating this indicator.

Safe Trades everyone!