Greetings Traders! I have decided to release a few scripts as open-source as I'm sure others can benefit from them and perhaps make them better.(Be sure to check my Profile for the other scripts as well: tradingview.com/u/DayTradingOil/). This one is called Projection.
Projection is based off the same Principle as some of my other scripts, such as Trade Manager(tradingview.com/script/M926eZzM-Trade-Manager/) and Price Predictor(tradingview.com/script/M926eZzM-Trade-Manager/). I use a simple concept using line.new() to define some potential Price Projections. From the Settings of the Indicator, you can access a couple different Pre-Set options.
excellent work, will test it.....can you explain this situation? does this means that it will travel to those yellow levels tomorrow?
DayTradingOil
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@nilanjan62, Not necessarily, no. You can try adjusting the Target Multiple to 1.0, clicking Extend Targets, or using the Weekly as the Default Resolution. This doesn't predict price action, just uses basic math to draw potential trend lines on a time period.
Dewara92
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I never commented in scripts in my life (Trading view since 2018), I just add to favorites and move on.
For this I had to say thank you man. This is the one!!!! Keep up the work.
DayTradingOil
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@Dewara92, Wow, thanks so much! Always great to get feedback, truly appreciate it!
rafaelfernandesadvogado
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It's a very good indicator! I've been test since you publish it! Good job! Congulatulations!