This script as shown in the chart drawing, appears to be forming a support zone.
I have used following for the analysis purposes.
1.> Value area as per volume and delivery volume. (Delivery volume plot is hard to explain here)
2.> EMA 200
3.> Fixed ranged volume profile
Now the conclusion is pattern is suggesting a positivity in the price.
But, with due diligence, one should do his or her own analysis, and excuse me for my analysis.
I have tried to use indicators provided by trading view as per my understanding, but in reality, I don't use them, is my major disclaimer.
Excuse me for my analysis.
I have used following for the analysis purposes.
1.> Value area as per volume and delivery volume. (Delivery volume plot is hard to explain here)
2.> EMA 200
3.> Fixed ranged volume profile
Now the conclusion is pattern is suggesting a positivity in the price.
But, with due diligence, one should do his or her own analysis, and excuse me for my analysis.
I have tried to use indicators provided by trading view as per my understanding, but in reality, I don't use them, is my major disclaimer.
Excuse me for my analysis.