- Automatic CC59 counting that compares the close of the right price bar to that of left price bar in a group of 5 consecutive bars (ignoring 3 bars in the middle). If the right bar closed higher, the count positive number would be printed above the bar. If the right bar closed lower, the count negative number would be printed below the bar. Nine consecutive series of up counts will define the lowest price as CC59 support line and nine consecutive series of down counts will define the highest price as CC59 resistance line. The counted numbers, lines are automatically printed on the graph if enabled.
- Draw the high and low levels of the previous day, if enabled. The Previous Day's High and Low are often used as reversal levels in the few future days.
- Draw the price range of each day based on Average Daily Range (ADR) value.
- Paint the background areas with active Forex trading of Asian, London, and New sessions, if enabled.
- Draw lines such as SMA5, SMA50 with ability to change the line color based on increasing or decreasing prices. A set of other lines such as SMA13, SMA200, SMA800 can be drawn if enabled.
- Draw a ribbon of lines consisting of SMA3, SMA4, SMA6 and SMA7, if enabled. Twisting of the ribbon gives a visual signal for price reversal.
- Locate the price gaps in the graphs of stocks and indexes. The opened gaps are often closed later on. Hence, they are milestones for the price to come back and close them up.
- Locate the pin bars having the body portion less than a specific percent of the range. The pin bars show hestitation for the price to continue the current trend. When a is covered or engulfed by the next larger bar, a trend reversal offen follows.
- Automatic printing of the events happening in the graph to remind the readers of parameters under considerations (if enabled) including:
- Print "C>SMA5" and "C<SMA5" for the bars that closed above and below (5).
- Print "SMA5>13" and "SMA5<13" for (5) crossed above and below (13).
- Print "Max" and "Min" for local maximum and local minimum bars.
- Print "RSI>70" and "RSI<70" for (14) that crossed above 70 % and below 70 %.
- Print "RSI<30" and "RSI>30" for (14) that crossed below 30 % and above 30 %.
- Print "MACD>0" and "MACD<0" for (12,26,9) that crossed above and below zero.
- Print "MACD>Sig" and "MACD<Sig" for (12,26,9) that crossed above and below their own SMA9.
The source code of Graph Reader Pro 2.0 custom indicator is protected.
Only invited TradingView members can apply this indicator to their forex, crypto currency and stock price graphs.
Lifetime invitation is for 100 USD with free future upgrades and online supports.
Rental invitation is for 10 USD/month with free future upgrades and online supports.
Paypal, Bank transfer and Bitcoin payments are welcome.
For more informaton please contact the author (DrGraph or Nimit Chomnawang, PhD) via TradingView private chat
or in the comment field below.
How to install the script:
*Go to the bottom of this page and click on "Add to Favorite Scripts".
*Open a new chart and click on the "Indicators" tab.
*Click on the "Favorites" tab and choose "Graph Reader Pro 2.0".
*Right click anywhere on the graph, choose "Settings".
*In "Style" tab, choose the Dark Theme.
*In "Scale" tab, choose decimal places of 1/100000.
*In "Background" tab, uncheck "Indicator Arguments" and "Indicator Values".
*In "Timezone/Sessions" tab, choose your local time zone.
*At the bottom of settings window, click on "Template", "Save As...", then name this theme of graph setting for future call up such as "Graph Reader Pro".
For free TradingView plan, you can add two more indicators to the chart. That means you may add and indicators with same parameters as those setup in Graph Reader Pro to your graph. DrGraph regularly publishes his educational ideas on using features provided in Graph Reader Pro for profitable investments. You can follow him for how to use the tools in trading stocks, forex, and binary options.