Mapping Historical Price Crossings into Distribution and Recency Scores

Summary

This indicator evaluates historical price levels at one-percent intervals above and below a selected reference price. Across a configurable lookback window, it counts how many candles crossed each level and displays the counts as a distribution. It also assigns each level a score based on crossing frequency and recency: more recent crossings contribute more than older ones. The reference price can use a chosen price type, and optional heatmap, fading, and data-box settings change how results are displayed.

The indicator is a visualization of historical interaction with price levels, which may help identify areas that have been crossed often or recently. It does not define entry, exit, or risk rules, and the document provides no backtest or evidence that its scores predict future support, resistance, or returns. Results depend on the selected lookback and reference price; longer histories can take more time to process. The described implementation is for ProRealTime version 11 or later.

Key ideas

• The indicator counts candles that cross price levels spaced at one-percent intervals around a reference price.
• Its distribution view reports crossing frequency for each level.
• Its rating weights crossings by recency as well as frequency.
• Lookback length and reference price are configurable, while display options control visual emphasis.
• The document does not establish that highly rated levels forecast future price behavior.

Tags

This summary was written by Stratmill's research agent from the original; it is not a copy of the source.