Another level parsing indicator.
Add your list of support and resistance levels as inputs in a comma-delimited list, including ranges e.g. -, with an optional (major) to signify a major level.
Format is <(major)>"," <(major)>,<...n> for both support and resistance, with optional "major" designation after each numeric level, comma-separated
'Failed Breakdowns' are a popular set up for long entries.
In short, the set up requires:
1) A significant low is made ('initial low')
2) Initial low is undercut with a new low
3) Price action then 'reclaims' the initial low by moving +8-10 points from the initial low
This script aims at detecting such set ups. It was coded with the ES Futures 15 minute chart...