These levels are based on price around earnings day. I have implemented support for 2 calculation modes:
Mode 1: Level = (low of 1 day prior to earnings + high of 1 day after earnings) / 2.0
Mode 2: Level = (hl2 of 1 day prior to earnings + hl2 of 1 day after earnings + close from earnings day) / 3.0
Chart above shows "Mode 1". Mode can be changed via options page.
This indicator was requested by user @mika2k1ff. I learnt more about this idea from @DanV and @TimWest (Thanks guys :)). BTW, TimWest has an indicators package, "Key Hidden Levels", that has this and more.
Do let me know how you use this, I am very intrigued by the potential this idea shows. Thanks.
For a complete list of my indicators:
- GDoc: docs.google.com...ByMEvm5MLo/edit?usp=sharin...
- Chart:
Mode 1: Level = (low of 1 day prior to earnings + high of 1 day after earnings) / 2.0
Mode 2: Level = (hl2 of 1 day prior to earnings + hl2 of 1 day after earnings + close from earnings day) / 3.0
Chart above shows "Mode 1". Mode can be changed via options page.
This indicator was requested by user @mika2k1ff. I learnt more about this idea from @DanV and @TimWest (Thanks guys :)). BTW, TimWest has an indicators package, "Key Hidden Levels", that has this and more.
Do let me know how you use this, I am very intrigued by the potential this idea shows. Thanks.
For a complete list of my indicators:
- GDoc: docs.google.com...ByMEvm5MLo/edit?usp=sharin...
- Chart:
List of my free indicators: bit.ly/1LQaPK8
List of my indicators at Appstore: blog.tradingview.com/?p=970
List of my indicators at Appstore: blog.tradingview.com/?p=970
//
// @author LazyBear
// List of all my indicators: https://www.tradingview.com/v/4IneGo8h/
//
study("Earnings S/R Levels [LazyBear]", shorttitle="ELVLS_LB", overlay=true)
mode=input(1, "S/R mode", minval=1, maxval=2)
earnings = security("ESD:"+ticker+"_EARNINGS", "D", close, true)
ehl2_mode1=(nz(earnings[1]) ? avg(low[2],high) : nz(ehl2_mode1[1])) // AVG2(low of 1 day pri, high of 1 day after)
ehl2_mode2=(nz(earnings[1]) ? (hl2[2]+hl2+close[1])/3 : nz(ehl2_mode2[1])) // AVG3(HL2 of 1 day pri, HL2 of 1 day after, close of earnings day)
ehl2=mode==1?ehl2_mode1:mode==2?ehl2_mode2:ehl2_mode1 // default: mode1
plot(ehl2, linewidth=2, style=circles)