Volume Based S/RI got a question if it would be possible to Automatically draw S/R levels based on Volume rather than RSI as I had earlier done in this script;
Well it certainly is and it looks as though it might even be tradeable.
The indicator compares the size of volume bars so that if there is a noticeable increase in volume (noticeable here meaning above the indicator threshold) it marks the bar high and low prior to the bigger volume candle.
Support
HTF High/LowThis simple script draws the previous higher timeframe candle high/low to your chart.
You can also make the script paint the zone between the low/open and the high/close.
Quarters TheoryIndicator that lets you to put Whole (red), Half (blue) and Quarter (green) levels on a chart, which work as support/resistance levels. Defaults are only for EURUSD, for other symbols you have to change the settings. First input is "Starting Price (Bottom)", which should be the lowest point you want your levels to be. There are only 10 Whole levels on this indicator, but if you want you could add them from pine editor. The next input is "Next Whole Level" this is the price from one whole level to next whole level, for example for EURUSD it is 0.01. The third input is for removing the quarter lines (green lines), if you want to remove them set this option to "0", otherways leave this to "1".
This indicator looks very good on JPY and NZD pairs.
Works on long term too:
Learned from him: www.youtube.com
Quarters TheoryThis indicator helps you to put Quarter Theory lines on your chart. It's defaults are meant for EURUSD , but you can change it for other charts. There are 16 lines in this indicator.
For EURUSD recommended settings right now are: Starting Price (Bottom):1.12 and Gap: 0.0025
USDCAD: Starting Price (Bottom):1.315 and Gap: 0.005
EURAUD: Starting Price (Bottom):1.59 and Gap: 0.005
USDJPY: Starting Price (Bottom):107 and Gap: 0.5
USDCHF: Starting Price (Bottom):0.97 and Gap: 0.0025
BTCUSD: Starting Price (Bottom):3200 and Gap: 100
XAUUSD: Starting Price (Bottom): 1230 and Gap: 5
These settings are the ones I use, but you could find better settings for yourself.
Works very well on JPY pairs.
Horizontal LinesHorizontal lines help you to put Quarter Theory lines on your chart. It's defaults are meant for EURUSD , but you can change it for other charts. There are 16 lines in this indicator.
For EURUSD recommended settings right now are: Starting Price (Bottom):1.12 and Gap: 0.0025
USDCAD: Starting Price (Bottom):1.315 and Gap: 0.005
EURAUD: Starting Price (Bottom):1.59 and Gap: 0.005
USDJPY: Starting Price (Bottom):107 and Gap: 0.5
USDCHF: Starting Price (Bottom):0.97 and Gap: 0.0025
BTCUSD: Starting Price (Bottom):3200 and Gap: 100
XAUUSD: Starting Price (Bottom): 1230 and Gap: 5
These settings are the ones I use, but you could find better settings for yourself. It works very well on JPY pairs.
Ichimoku A/D Breakoutthis is basically a clone of the super a/d indicator but we're using a standard ichimoku as the source for the trend instead of the supertrend indicator
RSI Based Automatic Supply and DemandA script that draws supply and demand zones based on the RSI indicator. For example if RSI is under 30 a supply zone is drawn on the chart and extended for as long as there isn't a new crossunder 30. Same goes for above 70. The threshold which by default is set to 30, which means 30 is added to 0 and subtracted from 100 to give us the classic 30/70 threshold on RSI, can be set in the indicator settings.
By only plotting the Demand Below Supply Above indicator you get automatic SD level that is updated every time RSI reaches either 30 or 70. If you plot the Resistance Zone / Support Zone you get an indicator that extends the zone instead of overwrite the earlier zone. Due to the zone being extended the chart can get a bit messy if there isn't a clear range going on.
There is also a "confirmation bars" setting where you can tell the script how many bars under over 30 / 70 you want before a zone is drawn.
Here is an image of only using the "Demand Below / Supply Above" plot.
As you can see, this could be useful "Price Flow" indicator, where we would only short if a zone appears below another zone, or long if two zones in a row are going up, like stairs.
Trend Follower With Help of Donchian Channels - TFWHDCThis is a simple Day Trade indicator, but can be used for swing and long term trades.
It is based on Donchian Channels to detect trend and point out resistance or support breakouts using arrows.
The bars ared colored when a breakout occurs. When a resistance breakout occurs the current and the next bars are colored green (default) and when a support breakout occurs the current and the next bars are colored red (default). This way this indicator can show if its an uptrend or a downtrend.
I hope this indicator will be useful for many traders!
Thank you!
Auto Pivot PointsThis indicator plots a Pivot Point and 3 Support and Resistance lines that automatically adapt to the Timeframe
These can also be plotted against a Custom Timeframe
MA ZonesThis simple indicator paints the zone between up to 3 different Moving Averages and Exponential Moving Averages.
For example:
The green zone is the price between the 50 EMA and the 50 MA .
The orange zone is the price between the 100 EMA and the 100 MA .
The red zone is the price between the 200 EMA and the 200 MA .
Support & ResistanceThis indicator detects large swings/pivots in historical price action to highlight tops and bottoms which might act as future levels of support or resistance. The code by default detects the last 3 significant swing highs and the last 3 swing lows. It then places lines on the chart to highlight those levels.
For a full overview of the indicator and code commentary visit the backtest-rookies (.com) website.
Example
Dynamic Support & ResistanceThis indicator paints the background of the chart between 2 EMAs when all 3 given EMAs are in sync.
The default settings are:
Long-term EMA: 200 Period.
Short-term EMA 1: 50 Period.
Short-term EMA 2: 20 Period.
So according to the default settings, when the 20EMA is above the 50EMA, and the 50EMA is above the 200EMA, the area between the 20EMA and the 50EMA will turn green. When the 20EMA is below the 50EMA, and the 50EMA is below the 200EMA, the area will turn red. When the EMAs are all over the place (ie. price is consolidating), the area will be painted white.
You can change the colors in the indicator settings menu. To remove the white background, change the transparency to 100%. Unfortunately pinescript does not allow you to do this using code, otherwise I would have made that a default feature.
Enjoy! Let me know if you have any questions.
Regards,
- Matt
Linear LevelsThis is a simple indicator that draws linear levels over your price chart.
Enter two price levels and it will draw 10 more levels above/below (depending on the order of Price 1 & Price 2)
Prev HHLL Round NumbersDisplays previous highs and lows. Added Round numbers.
Modified Chris Moody script.
CryptoShadows V1The first Diagonal Support and Resistance indicator. Best for bitcoin and cryptocurrencies
Automatic Support, Resistance, Fibonacci LevelsThis indicator plots absolute high and low values for up to five completely adjustable time periods (in months, weeks, days, hours, minutes) and optionally calculates the Fibonacci levels on the pair of absolutes of your choice, ascending or descending, and mimics the shading available in the built-in Fib charting tools (e.g. retracement).
Here are a few screenshots of the same chart with various options selected.
3-Month, 4-Week, and 5-Day absolutes with 3-Monthly Fib plotted:
The same chart with 4-Weekly Fib:
The same chart with 5-Daily Fib:
5-Day, 12-Hour, 90-Minute absolutes with 12-Hourly Fib:
Zoomed in, on a 30-minute interval, with 90-minute Fib:
With descending ("inverted") 90-minute Fib:
I started putting this together for Vazzyb, who was looking for a way to automate plotting horizontal support and resistance levels for monthly, weekly, and daily extremes, and then I added additional features as they occurred to me. Special thanks to Paaax, who suggested I add Fib levels.
I am leaving the code open, so you may feel free to grab snippets you like and use them for your own purposes. Of particular interest may be my custom "calc_fib()" function, which accepts any series pair, as well as a Boolean indicating whether to invert, and returns an array with each of the major Fibonacci levels: .
If anyone likes this enough to feel generous, please feel free:
BTC
3KmFchJ18QvMzAJKDcFQXvyK9p1EHWQdhP
BCH
qqtrw64ptuwprk5vtj3z8qwkvh3v0jawxq7khqng7x
ETH
0x9b51361A278910Ba3945C7519C9f0FA8a77df18d
LTC
MDeWWsP7XCG2zQuZ2dYALZXQ52u2qkc8fh
P.S. If you want the time lengths to be as close to accurate as possible, don't forget to change the number of days per week when using for cryptocurrency!
Nearest Support / Resistance - Beasley SavagePlots nearest support and resistance at a given resolution.
SuperTrend_ChannelThis set up created to understand support and resistance as per ATR (Average True Range)
Existing setup of supertrend modified to Channel set up
It is created for study purpose , Buying or selling not suggested as per this
Thank you
MavilimWThis Indicator plots smoothed weighted moving average combinations of various Fibonacci numbers
a great support and resistance for long term trading and confirmation
Support & Resistance LevelsBasic Visualisation of key support and resistance levels.
This script works best on periods of 15minutes or greater.
The strength of the support/resistance are shown through line thickness, and support levels are shown as green and resistance levels red.
Dynamic Structure IndicatorThis is a dynamic structure indicator designed to map potential support and resistance zones (in all markets). It does this by looking back x amount of candles to identify major swing highs and lows on the specified reference timeframe, and then it draws a zone between the highest/lowest wick and the highest/lowest candle close across the chart until a new zone is created.
The settings are important because it gathers data from a separate reference timeframe, so sometimes it will map zones that aren’t really appropriate for lower timeframes. On lower timeframes (1Hr and under) I’d recommend setting the reference timeframe to your actual trading timeframe and increasing the lookback period to fine-tune the zone mapping. The script is set for 4 Hour forex charts by default.
Please note: the max zone option is disabled by default because it is different for every instrument, but this is a useful feature that I recommend using. Sometimes the indicator picks up huge gaps that aren’t really considered support or resistance zones. If this happens to you, use the zone size settings to invalidate huge (or tiny) zones. The zone size is in pips.
To be honest I didn’t get this indicator to be quite as accurate as I envisioned and it’s still a work in progress as I learn pine script, but this is the best I’ve been able to get it to function and with the right settings it works fairly well so I figured I might as well release this first version. Maybe someone with better skills than me can help refine it to more accurately identify major fractals and levels - if so, please get in touch! All traders should be able to identify their own major levels by eye anyway, but this script is intended to be a building block for future signal indicators I wish to develop.
Last of all - please don’t use this indicator to trade blindly! Often price will blast right through these zones and the zones aren’t always accurate. Remember that structure levels only work if they’re obvious to other traders, and always wait for confirmation signals that meet your trade plan rules before entering trades – especially reversals or counter-trend trades.
If you have any questions or tips to improve the script, feel free to leave a comment or private message me.
Enjoy, and good luck out there :)
- Matt.
