[RS]Murrey's Math Lines Box — Indicator by RicardoSantos

murrey

Murrey's Math Lines Box, top and bottom values of the final box must be entered manually.

Open-source script

In true TradingView spirit, the author of this script has published it open-source, so traders can understand and verify it. Cheers to the author! You may use it for free, but reuse of this code in a publication is governed by House Rules. You can favorite it to use it on a chart.

Disclaimer

The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.

Want to use this script on a chart?

study(shorttitle="[RS]MMLB", title="[RS]Murreys Math Lines Box", overlay=true)
btop = input(147.66, type=float)
bbot = input(75.555, type=float)

fraction = (btop - bbot) * 0.125

l00 = hline(btop + (fraction * 2), color=black, linewidth=1, title="")
l01 = hline(btop + (fraction * 1), color=black, linewidth=1, title="")
l02 = hline(btop, color=black, linewidth=3, title="8/8: Hardest line to rise above (overbought)")
l03 = hline(btop - (fraction * 1), color=black, linewidth=1, title="7/8: Fast reverse line (weak)")
l04 = hline(btop - (fraction * 2), color=black, linewidth=1, title="6/8: Pivot reverse line")
l05 = hline(btop - (fraction * 3), color=black, linewidth=1, title="5/8: Upper trading range")
l06 = hline(bbot + (fraction * 4), color=black, linewidth=2, title="4/8: Major reversal line")
l07 = hline(bbot + (fraction * 3), color=black, linewidth=1, title="3/8: Lower trading range")
l08 = hline(bbot + (fraction * 2), color=black, linewidth=1, title="2/8: Pivot reverse line")
l09 = hline(bbot + (fraction * 1), color=black, linewidth=1, title="1/8: Fast reverse line (weak)")
l10 = hline(bbot, color=black, linewidth=3, title="0/8: Hardest line to fall below (oversold)")
l11 = hline(bbot - (fraction * 1), color=black, linewidth=1, title="")
l12 = hline(bbot - (fraction * 2), color=black, linewidth=1, title="")

plot(close==0? na : na)