Ticker Ratio Levels

How it works

The indicator works by identifying important price extremums from the closing candle of the current chart and building levels based on a selected chart in the settings. It determines the price level by first identifying the last candle before a specified date and calculating the price at that time and the current moment.

The calculation process involves comparing the historical and current prices to create a relative price level. Users can adjust the levels both within the settings and directly on the chart by dragging vertical lines, which serve as the starting point for calculations.

Why it may be useful

This indicator provides traders with a unique method of analyzing price relationships across different assets and timeframes. By constructing levels based on various tickers, traders can gain insights into potential market correlations and price movements that might not be immediately apparent.

The flexibility of selecting from predefined tickers and customizing levels allows traders to develop more nuanced trading strategies. It helps in understanding price dynamics beyond a single asset and can reveal potential trading opportunities by comparing price ratios across different markets.

When to explore it

The indicator is most effective when traders want to analyze price relationships between different assets or markets. It works well for comparing price movements of assets like BTC, Gold, or DXY, providing a broader perspective on market trends and potential correlations.

Traders can utilize this tool when they want to develop more comprehensive trading strategies that take into account multiple market influences. It is particularly useful for those interested in understanding how different assets interact and potentially predicting future price movements based on these relationships.

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