Projected Support And Resistance [CC]Projected Support And Resistance is a custom indicator of mine loosely based on the work done by Ketan Asher (Stocks and Commodities Bonus Issue 2021 pgs 12-14) and generally speaking this does a pretty good job of telling you what the future behavior of the stock will be. As the lines widen apart, there will be either upward or downward momentum. Buy when the line turns green and sell when it turns red.
Let me know what other indicators you would like to see me publish!
Support
(IK) Base Break BuyThis strategy first calculates areas of support (bases), and then enters trades if that support is broken. The idea is to profit off of retracement. Dollar-cost-averaging safety orders are key here. This strategy takes into account a .1% commission, and tests are done with an initial capital of 100.00 USD. This only goes long.
The strategy is highly customizable. I've set the default values to suit ETH/USD 15m. If you're trading this on another ticker or timeframe, make sure to play around with the settings. There is an explanation of each input in the script comments. I found this to be profitable across most 'common sense' values for settings, but tweaking led to some pretty promising results. I leaned more towards high risk/high trade volume.
Always remember though: historical performance is no guarantee of future behavior . Keep settings within your personal risk tolerance, even if it promises better profit. Anyone can write a 100% profitable script if they assume price always eventually goes up.
Check the script comments for more details, but, briefly, you can customize:
-How many bases to keep track of at once
-How those bases are calculated
-What defines a 'base break'
-Order amounts
-Safety order count
-Stop loss
Here's the basic algorithm:
-Identify support.
--Have previous candles found bottoms in the same area of the current candle bottom?
--Is this support unique enough from other areas of support?
-Determine if support is broken.
--Has the price crossed under support quickly and with certainty?
-Enter trade with a percentage of initial capital.
-Execute safety orders if price continues to drop.
-Exit trade at profit target or stop loss.
Take profit is dynamic and calculated on order entry. The bigger the 'break', the higher your take profit percentage. This target percentage is based on average position size, so as safety orders are filled, and average position size comes down, the target profit becomes easier to reach.
Stop loss can be calculated one of two ways, either a static level based on initial entry, or a dynamic level based on average position size. If you use the latter (default), be aware, your real losses will be greater than your stated stop loss percentage . For example:
-stop loss = 15%, capital = 100.00, safety order threshold = 10%
-you buy $50 worth of shares at $1 - price average is $1
-you safety $25 worth of shares at $0.9 - price average is $0.966
-you safety $25 worth of shares at $0.8. - price average is $0.925
-you get stopped out at 0.925 * (1-.15) = $0.78625, and you're left with $78.62.
This is a realized loss of ~21.4% with a stop loss set to 15%. The larger your safety order threshold, the larger your real loss in comparison to your stop loss percentage, and vice versa.
Indicator plots show the calculated bases in white. The closest base below price is yellow. If that base is broken, it turns purple. Once a trade is entered, profit target is shown in silver and stop loss in red.
Support Resistance ChannelsHello All,
For Long time I was planning to make Support/Resistance Channels script, finally I had time and here it is.
How this script works?
- it finds and keeps Pivot Points
- when it found a new Pivot Point it clears older S/R channels then;
- for each pivot point it searches all pivot points in its own channel with dynamic width
- while creating the S/R channel it calculates its strength
- then sorts all S/R channels by strength
- it shows the strongest S/R channels, before doing this it checks old location in the list and adjust them for better visibility
- if any S/R channel was broken on last move then it gives alert and put shape below/above the candle
- The colors of the S/R channels are adjusted automatically
You can set/change following settings:
- Pivot Period
- Source : High/Low or Close/Open can be used
- Maximum Channel Width %: this is the maximum channel width rate, this is calculated using Highest/Lowest levels in last 300 bars
- Number of S/R to show : this is the number of Strongest S/R to show
- Loopback Period: While calculating S/R levels it checks Pivot Points in LoopBack Period
- Show S/R on last # Bars: To see S/R levels only on last N bars
- Start Date: the script starts calculating Pivot Point from this date, the reason I put this option is for visuality. Explained below
- You can set colors/transparency
- and You can enable/disable shapes for broken S/R levels
Examples:
You can change colors as you wish:
here " Show S/R on last # Bars " set 100:
Sometimes visuality may corrupt because of old S/R levels, to solve it you need to set "Start Date" in the options to start the script in visual part (last 292 bars)
here in first screenshot it doesn't look good (shrink), then on second screenshot I set the "Start Date" it looks better, if you change time frame don't forget to set it again :)
Enjoy!
NSDT Pivot Points PlusThis script uses the Traditional Pivot Points but includes the price levels and the 50% line between levels. We added the ability to change the line color of the major levels and the minor levels independently, for better clarity. Added alerts - used code from QuantNomad.
Pivot Points description from TradingView default indicator:
Pivot Point analysis is a technique of determining key levels that price may react to. Pivot points tend to function as support or resistance and can be turning points. This technique is commonly used by day traders, though the concepts are valid on various timeframes. There are several methods of identifying the exact points. Common types of pivot points are Traditional, Fibonacci, Woodie, Classic, Camarilla and DM and each type has its own calculation method.
Most use a variation of significant prices such as established highs, lows, opening and closing prices and then apply a calculation to determine these points. They all calculate additional support and resistance levels alongside the pivot points. They can be used to determine when to enter or exit trades or to determine the range of a market. Conservative traders look for additional confirmation before entering a trade. Whether pivot points are used alone or in combination with other techniques, they are a useful tool in a technical trader's toolbox.
[RickAtw] O1 Opening Market LineThis indicator helps to identify current support and resistance based on the opening of the Asian, London and New York sessions.
Function
You can make good trade entries based on these lines. Shows daily and weekly openings of each session
It will also help you to look at which session you are currently trading)
Purple ----> Asian session
Red ----> London session
Blue ----> New York session
Key Signal
buy ---> A strong buy signal is a bounce from the low and the presence of a weekly or day open line.
sell ---> A strong sell signal is a bounce from the maximum and the presence of a weekly or day open line.
P.S. Be sure to test on your pair!
Remarks
This will help you determine the approximate area of support and resistance.
Since we cannot look into the future, it does not inform you about the exact records, but a possible change in trends.
Readme
In real life, I am a professional investor. And I check each of my indicators on my portfolio and how effective it is. I will not post a non-working method. The main thing is to wait for the beginning of trends and make money!
I would be grateful if you subscribe ❤️
NSDT Pivot ZonesThis is a new take on Traditional Pivot Points. By modifying the calculations, we were able to create "pivot zones" with a decent degree of accuracy.
PRIME - ShadoW ZoneZ with RSI LevelsIn This experimental study, we've taken RSI data, Volume Profile, and Trend analysis, combining them into one unique package that will allow a trader to analyze market trend lines and their proposed channels, trend momentum through candle color augmentation similar to "Pulse", and Visible Volume index price levels on chart for the current sequence. Below are explanations of each function within the system.
The Semafor is used to spot future multi-level Supports and Resistance zones.
It is also useful to spot HL or LL or HH or LH zones at different Depth settings.
The red zones are the extreme places where the market has a higher chance of reversing while the green zones have the lowest setting with lower chances of the market reversal
Automatic Trend Lines
The indicator takes in 2 timeframes to detect High and Low values from which to draw the trend lines of each timeframe.
As the values change with price movement, the lines are updated. They are color coded for uptrend and downtrend based on the direction of each individual line. Trend lines can be set up to color with only the default value on the configurations panel.
- Toggle on/off Color Coded
- Change Default, Uptrend, Downtrend color
- Change Line Width
- Change Line Style
- Toggle on/off Line Extensions
- Change Extended Line Width
- Change Extended Line Style
- Toggle On/Off labels for 7 data points of each timeframe
Automatic Trend Sights
This is a neat feature that may help you get a better feel for the direction the current movement is heading towards in correlation with the short or medium length timeframe trends. The sight draws a line from the middle vertical point of the trend coordinates towards the current price. They are toggled off by default but can be enabled in the configurations panel.
- Toggle on/off sight on each timeframe
- Change Width
- Change Line Style
Support & Resistance Levels, the main aim of the study. Level calculations are based on Relative Strength Index ( RSI ) threshold levels of oversold/overbought and bull/bear zones, where all threshold values are customizable through the user dialog box. Background of the levels can be colored optionally.
RSI Weighted Colored Bars and/or Mark Overbought/Oversold Bars , Bar colors can be painted to better emphasis RSI values. Darker colors when the oscillator is in oversold/overbought zones, light colors when oscillator readings are below/above the bull/bear zone respectively, and remain unchanged otherwise. Besides the colors, with “Display RSI Overbought/Oversold Price Bars” option little triangle shapes can be plotted on top or bottom of the bars when RSI is in oversold/overbought zones .
Disclaimer:
Trading success is all about following your trading strategy and the indicators should fit within your trading strategy, and not to be traded upon solely
The script is for informational and educational purposes only. Use of the script does not constitute professional and/or financial advice. You alone have the sole responsibility of evaluating the script output and risks associated with the use of the script. In exchange for using the script, you agree not to hold dgtrd TradingView user liable for any possible claim for damages arising from any decision you make based on use of the script
Bull Market Support Band (20w SMA, 21w EMA)This moving average indicator is a bull market support band. It's significance comes from the previous bull runs where the price was bouncing off or riding from a distance the support band until the end of the market cycle. For example, during the 2017 bull run, Bitcoin had several 30-40% corrections to the support band.
The green line represents the 20 weeks simple moving average and the red line represents the 21 weeks exponential moving average. The best way to read the current value is to look at the weekly chart, but any time frame will display the same values.
Ichimoku + 2 base linesIchimoku + 2 base line
This indicator is a combination of Ichimoku cloud indicator with two base lines.
The first base line is the same as the Ichimoku default settings but the baseline 2 indicates an average of 108 candles in the past and it acts as a strong support and resistance level.
How to use this indicator?
You can use this indicator to see if a break out is true or is a false break. For example if the price broke up the Ichimoku cloud and base line 2 is above the price, it will probably react to that area but if it's below the price, it is a good opportunity to buy. (for sell/short position it is in the opposite way the base line 2 should be above the price)
If you want to trade in support zones base line 2 (108) is a very good area that you can wait for a good candlestick pattern to enter a position.
Caution: before using this indicator please back test it and if the results were good enough, use it as a confirmation.
NSDT Pre-Market Breakout LevelsA simple way to identify potential breakouts at the New York market open. This indicator plots the high and low of the New York Pre-Market, providing a great visual of a potential breakout levels.
HTF Highs Lows [JV]█ OVERVIEW
This script presents a label with an overview of higher timeframe highs and lows. This can be useful information as we all know that price likes to revisit previous highs and lows area, specially on the higher timeframe.
█ CONCEPTS
This information can be relevant and valuable for various reasons:
Finding horizontal Support and Resistance
Get a better view on Market Structure
Provide some information about Order Flow
TrendLines
...
█ FEATURES
Plots
This script provides the option to show information about 3 timeframes
Each timeframe can be separately shown or hidden
The Y position of the info label can be user defined, based on high or low of the chosen timeframe
The X offset of the info label can be adjusted to the user's liking and the chart resolution
The label color and text color can be user defined
The info label's size can be user defined
█ NOTES
Caveat
The timeframes must be chosen in order of size. Meaning that the highest timeframe should be on top. This is title as such on the info label, but I want to mention it again as it's something to pay attention to.
Repainting
The question that pops up all the time is: Does it repaint ?
I will quote PineCoders on this:
We're pretty sure Wilder was not asked very often if RSI repainted. Why? Because it wasn't in fashion—and largely unnecessary—to ask that sort of question in the 80's. Many traders back then used daily charts only, and indicator values were calculated at the day's close, so everybody knew what they were getting. Additionally, indicator values were calculated by generally reputable outfits or traders themselves, so data was pretty reliable. Today, almost anybody can write a simple indicator, and the programming languages used to write them are complex enough for some coders lacking the caution, know-how or ethics of the best professional coders, to get in over their heads and produce code that does not work the way they think it does.
Briefly: yes, it repaints and no it does not matter.
Simple because we are working with highs and lows on a higher timeframe. So if we get a new high or low within a certain time frame, we want this new high or low to be displayed and, for me, it's not relevant if this information appears when it happens or when the candle closes.
Questions & Suggestions
Questions, suggestions or even a word of thanks are always welcomed in the comments section. I usually answer within the same day.
█ THANKS
A word of thanks to, and I hope I am allowed to use hyperlinks here, LonesomeTheBlue for being an inspiration on coding style and his work on arrays in Pine Script and to lmatl for his support, words of advice and letting me borrow his brain now and then.
pivot semaphore support&resistance levels [LM]Hello Traders,
I would like to introduce you pivot semaphore support&resistance levels. The idea is the same as the zigzag script of mine to spot the importance of support&resistence
The Semafor is used to spot future multi-level Supports and Resistance zones.
It is also useful to spot HL or LL or HH or LH zones at different Depth settings.
The red zones are the extreme places where the market has a higher chance of reversing while the green zones have the lowest setting with lower chances of the market reversal
The lines can be extended like so
The lines also can just stop extending when price will reach it
Enjoy!
Multi Time Frame Candles with Volume Info / 3DHello Traders,
This is my second Multi Time Frame Candles script but with this new one, you will have some new features such volume info, remaining time to close of higher time frame candle and also developed using new features of Pine such array of lines. also I tried to make it 3D for better visualization ;) also it shows new highs/lows / breakouts.
I tried to make many things optional, so you can change almost everything using options.
What you can change using options:
- Higher time frame
- Number of Candles
- Candle Colors Up/Down
- Wick Color
- Volume colors Up/Down
- Text color of Remaining Time
- Shadow Color
- Background color
- Start bar of the candles (so you can see many higher times frame candles in same window)
- 3D effect, by default it's enables but you can disable 3D view
Lets see some examples:
Remaining time:
Breakouts:
You can combine different higher time frames:
if you don't want 3D view then combining different higher time frames:
You can change background color:
Enjoy!
Local LimitsDisplays recent higher highs, lower highs, lower lows, and higher lows as a collection of local limit indicators.
In its simplicity is a lot more powerful than might appear at first glance.
Does not rely on volatility calculation.
Can be linked together to create an objective view of recent support and resistance levels.
Makes current trends more visible.
Excellent for use as a trailing stop algorithm.
Parameters
Single Bar Sensitivity: True (default) reacts to individual bars. False only responds to the alignment of 2 bars.
Margin (1-5): Adds extra distance from higher lows and lower highs to reduce the sensitivity of broken trends.
Single indicators with configurable sources:
Local Limit Higher
Local Limit Lower
MrBB:BullBear Support BandVery simple and effective S/R band. Created bycombining the weekly 21EMA and weekly 20SMA, it provides strong support/resistance depending on market direction, and works as a basing area for retraces during parabolic (and normal) bull markets.
Support & Resistance LevelsPlots support and resistance levels based on occurrence of fractals.
Line width indicates historical significance of the level.
Decreasing the proximity multiplier input increases the sensitivity/ increases the frequency of level changes.
If price closes above a resistance level, the level becomes a support level and its color on the chart changes to green (& vice-versa).
NSDT Auto Fib Support / Resistance LevelsThis script automatically plots support and resistance lines using the fib numbers as the amount of candles to lookback. Each line is colored differently to easily identify the support/resistance pair (i.e. 23%, 38%, 61%, etc..) with the 50% (Green) and 78% (Red) a thicker line. All variables are editable. Added alert capability.
ZigZag Multi Time Frame with Fibonacci RetracementHello Traders,
This is ZigZag Multi Time Frame with Fibonacci Retracement script. It calculates the ZigZag using Higher Time Frame, draw Fibonacci Retracement lines and put labels accordingly. I already published Zigzag with Fibonacci Levels script but this one is Multi Time Frame and I didn't want to change/update it.
You can set ZigZag Period and Resolution as you wish. Zigzag is calculated using higher time frames (ex: 1day) so you better choose small numbers as Zigzag Period, such 2, 3 etc. you should choose higher time frame wisely, meaning that you should not set 1Day while chart resolution is 1min ;)
It draws Fibonacci levels between 0%-100% and If the price goes higher/lower than 100% level than the script draws Fibonacci Levels accordingly. This means it draws Fibonacci levels until this levels get higher/lower than the price.
"Show Zig Zag" is not enabled by default, you can enable it if you want to see ZigZag as well.
You have options to set Text Color, Line Color, Zigzag Up Color and Zigzag Down Color.
You can set the location of the Fibonnaci Levels -> Left or Right
You also have option to enable/disable following Fibonnaci Levels:
---> 0.236
---> 0.382
---> 0.500
---> 0.618
---> 0.786
I added "Colorful Fibonacci Levels" for fun. if you enable it then Fibonacci line colors will be different randomly on each move, see it for yourself :)
Some Screenshots:
if you enable "Show Zigzag Option":
how the script adjust levels automatically:
if you set Label Location as "Right":
if you enable "Colorful Fibonacci Levels" then Line colors will be changed on each move randomly ;)
Enjoy!
Beacon - Anthony Crudele's IndicatorBeacon uses the current volatility of the market based on your trading time frame to determine support and resistance levels, whether a trend is intact or ready to revert back in the range. One of the most difficult things I went through as a trader was determining whether we are in a trend day or if we are in grind up or grind down mode. I created Beacon to give me a simple look at the market to determine what type of environment we are in. I use Bollinger Bands (3 standard deviation) to determine the volatility cycle. Once the BB make peaks I took my Fibonacci Retracement tool and did a retracement from the peak high of the BB to the peak low. I use 70%, 50% and 30% for my support and resistance levels. I use those levels because I tested pretty much every percent level and those percentages averaged the highest performance on all tick charts and time charts. You can use Beacon on whatever time frame or tick chart you are trading on and it will determine that specific volatility cycle.
Price Action - Support & Resistance by DGTSᴜᴘᴘᴏʀᴛ ᴀɴᴅ Rᴇꜱɪꜱᴛᴀɴᴄᴇ , is undoubtedly one of the key concepts of technical analysis
█ Sᴜᴘᴘᴏʀᴛ ᴀɴᴅ Rᴇꜱɪꜱᴛᴀɴᴄᴇ Dᴇꜰɪɴɪᴛɪᴏɴ
Support and Resistance terms are used by traders to refer to price levels on charts that tend to act as barriers, preventing the price of an financial instrument from getting pushed in a certain direction.
A support level is a price level where buyers are more aggressive than sellers. This means that the price is more likely to "bounce" off this level rather than break through it. However, once the price has breached this level it is likely to continue falling until meeting another support level.
A resistance level is the opposite of a support level. It is where the price tends to find resistance as it rises. Again, this means that the price is more likely to "bounce" off this level rather than break through it. However, once the price has breached this level it is likely to continue rising until meeting another resistance level.
A previous support level will sometimes become a resistance level when the price attempts to move back up, and conversely, a resistance level will become a support level as the price temporarily falls back.
█ Iᴅᴇɴᴛɪꜰʏɪɴɢ Sᴜᴘᴘᴏʀᴛ ᴀɴᴅ Rᴇꜱɪꜱᴛᴀɴᴄᴇ
Support and resistance can come in various forms, and the concept is more difficult to master than it first appears. Identification of key support and resistance levels is an essential ingredient to successful technical analysis.
If the price stalls and reverses in the same price area on minimum of two different occasions, then a horizontal line is drawn to show that the market is struggling to move past that area. Those areas are static barriers, one of the most popular forms of support/resistance and are highlighted with horizontal lines.
Repeated test , the more often a support/resistance level is "tested" over an extended period of time (touched and bounced off by price), the more significance is given to that specific level
High volume , the more buying and selling that has occurred at a particular price level, the stronger the support or resistance level is likely to be
Market psychology , plays a major role as traders and investors remember the past and react to changing conditions to anticipate future market movement.
Psychological levels , is a price level that significantly affects the price of an underlying financial instrument. Typically, near round numbers often serve as support and resistance
The following support and resistance related topics are beyond the scope of this study, so they will be mentioned roughly only as a reference for support and resistance concept
Trendlines , Support and resistance levels in trends are dynamic. Throughout an uptrend, levels of support tend to look like a trendline, usually clustering around higher lows. As the price rises, the price where buyers consider the stock to be “too cheap” also changes, which creates new support levels on the way up. The same is also true for resistance levels. In an uptrend, a stock is continuously breaking through perceived resistance levels and making new highs
Moving Averages , is a constantly changing line that smooths out past price data while also allowing the trader to identify support and resistance. In the example Notice how the price of the asset finds support at the moving average when the trend is up, and how it acts as resistance when the trend is down
The Fibonacci Retracement/Extension tool , is a favorite among many short-term traders because it clearly identifies levels of potential support and resistance
Pivot Point Calculations , is another common technical analysis technique, where pivot point is calculated based on the high, low, and closing prices of previous trading session/day and support & resistance levels are projected based on the pivot point, different calculation techniques are available, as presented in this example of an pivot point indicator : PVTvX by DGT
█ Tʀᴀᴅɪɴɢ Bᴀꜱᴇᴅ ᴏɴ Sᴜᴘᴘᴏʀᴛ ᴀɴᴅ Rᴇꜱɪꜱᴛᴀɴᴄᴇ
Once an area or "zone" of support or resistance has been identified, those price levels can serve as potential entry or exit points because, as a price reaches a point of support or resistance, it will do one of two things—bounce back away from the support or resistance level (trading ranges), or violate the price level and continue in its direction (trading breakouts) —until it hits the next support or resistance level
The basic trading method for using support and resistance is to buy near support in uptrends or the parts of ranges or chart patterns where prices are moving up and to sell/sell short near resistance in downtrends or the parts of ranges and chart patterns where prices are moving down. Buying near support or selling near resistance can pay off, but there is no assurance that the support or resistance will hold. Therefore, consider waiting for some confirmation that the market is still respecting that area
Trading breakouts, a breakout is a potential trading opportunity that occurs when an asset's price moves above a resistance level or moves below a support level on increasing volume. The first step in trading breakouts is to identify current price trend patterns along with support and resistance levels in order to plan possible entry and exit points. Once the asset trades beyond the price barrier, volatility tends to increase and prices usually trend in the breakout's direction. Breakouts are such an important trading strategy since these setups are the starting point for future volatility increases, large price swings and, in many circumstances, major price trends. When trading breakouts, it is important to consider the underlying asset's support and resistance levels. The more times an asset price has touched these areas, the more valid these levels are and the more important they become. At the same time, the longer these support and resistance levels have been in play, the better the outcome when the asset price finally breaks out. Asset prices will often move slightly further than we expect them to. This doesn't happen all the time, but when it does it is called a false breakout. Therefore it is important to consider waiting for some confirmation while trading breakouts. It’s also popular for traders to sell 50% of their positions at the resistance level, and hold the rest in anticipation of a breakout above resistance
█ Pʀɪᴄᴇ Aᴄᴛɪᴏɴ - Sᴜᴘᴘᴏʀᴛ & Rᴇꜱɪꜱᴛᴀɴᴄᴇ ʙʏ DGT Sᴛᴜᴅʏ
This experimental study attempts to identify the support and resistance levels. Assumes a simple logic to discover moments where the price is rising or falling consecutively for minimum 3 bars with the condition volume increases on each bar and the last bar’s volume should be bigger than the long term volume moving average. A line will be drawn at the end of the move (highest or lowest, depending on the move direction), the line will be drawn at minimum on the 3rd bar and if condition holds for other consecutive bars the line will switch to 4th, 5th etc bar.
Lines will not be deleted so the historical ones will remain and will emphasis the levels significance when they overlap in feature. Strong levels are more likely to hold and cause the price to move in the other direction, whereas the minor levels may only cause the price to pause and keep moving in the same direction. Determining future levels of support and resistance can drastically improve the returns of a short-term investing strategy
Bar colors will be painted based on the volume of the specific bar to its long term volume moving average. This will help identifying the support and resistance levels significance and emphasis the sings of breakouts
Finally, Volume spikes will be marked on top of the price chart. A high volume usually indicates more interest in the security and the presence of institutional traders. However, a rapidly rising price in an uptrend accompanied by a huge volume may be a sign of exhaustion. Traders usually look for breaks of support and resistance to enter positions. When security break critical levels without volume , you should consider the breakout suspect and prime for a reversal off the highs/lows. Volume spikes are often the result of news-driven events. Volume spike will often lead to sharp reversals since the moves are unsustainable due to the imbalance of supply and demand
A good example with many support and resistance concepts observed on a stock chart and detected by the study
Settings:
Length of volume moving average, where volume moving average is used to detect support and resistance levels, is used as reference to compare with threshold values for volume spikes and colors of the bars
Hint, to get more historical lines scrolling chart to left will enable visualization of them. Please note they may appear to much all 500 line limit is used 😉
Special thanks to @HEMANT Telegram user, for his observations and suggestions
Disclaimer:
Trading success is all about following your trading strategy and the indicators should fit within your trading strategy, and not to be traded upon solely
The script is for informational and educational purposes only. Use of the script does not constitute professional and/or financial advice. You alone have the sole responsibility of evaluating the script output and risks associated with the use of the script. In exchange for using the script, you agree not to hold dgtrd TradingView user liable for any possible claim for damages arising from any decision you make based on use of the script
Support Resistance DiagonalClassic diagonal support and resistance based on pivot points. As a result, they form triangles, wedges, channels and other patterns. Realtime update up to 1 second chart.
Savanner Level IndexFinds Price Support Based on last 20 Bar Low, 40 Bar low, and 80 Bar low, and calculated using 1x 80 bar low, 0.5x 40 bar low, and 0.2x of the 20 bar low. Feel free to check out the script!
How to use: Add to your chart, drag the indictor to the main chart, then merge both scales on the right!
[ST] S/R density study v3This algorithm draws supports/resistance levels automatically based on historic candle density at each height. The basic idea is the levels where price is rejected quickly is likely to have fewer candles in the past than the levels above and below. This does not take volume into account. The lookback and number of levels has to be kept low to prevent too many calculations. I haven't looked if there's new pinescript features to let me do this more efficiently yet.
It checks for candle density to decrease once or twice and then increase once or twice before it draws a line at that lowest level. There's an option to draw more lines by only checking for a single decrease and increase.
It likely won't catch all the levels but it seems to get a good amount to help me position stops on other side of S/R or exits on the trade side of S/R.
I've been meaning to share more scripts but keep forgetting. Keeping my scripts free but feel free to like or tip haha.
