![[e2] Drawing Library :: Horizontal Ray chart preview](/_next/image?url=%2Fmedia%2Ffull%2F26158.png&w=3840&q=90&dpl=dpl_Jt27hmzh6tNsGuJ13vyBBWgv8XSW)
A drawing library function that creates horizontal rays based on specific market conditions, allowing traders to visually mark and track important price levels dynamically.
Explore complementary indicator rolesHow it works
The hray() function generates horizontal rays by establishing an initial point through a predefined boolean condition. Once triggered, the ray extends to the specified price level, creating a visual marker on the chart.
Traders can customize the ray's appearance, including color, style, and width. The function allows extending rays to the right or limiting them to the current bar. Historical lines can be displayed to show previous level interactions, providing additional context for price movements
Why it may be useful
Horizontal rays help traders identify and track critical price levels that might serve as support, resistance, or significant market turning points.
By dynamically generating these rays based on specific conditions, traders can quickly visualize key market moments like moving average crossovers, all-time highs, or custom entry/exit points. The function's flexibility enables precise technical analysis, allowing for custom alerts and improved decision-making in trading strategies
When to explore it
The hray() function is most effective when tracking specific market conditions or price levels across various trading scenarios. It works well for marking moving average crossovers, identifying all-time highs or lows, and creating custom reference lines.
Traders can use it during trending markets to highlight potential support and resistance levels, or in range-bound markets to mark critical price points. The function is particularly useful for swing traders and day traders seeking visual confirmation of market dynamics
Keep exploring
What we’ve verified
Access, alerts and repainting behaviour have not been independently verified for this indicator. Check the creator’s current publication and settings.
General descriptions and classifications are recovered research. Verified details above identify the specific checks we have completed. Check the creator’s current publication for later changes.
