Chartlense Dashboard (Data, Trend & Levels)

Chartlense Dashboard (Data, Trend & Levels)

Overview

This dashboard is designed to solve two common problems for traders: chart clutter and the manual drawing of support and resistance levels. It consolidates critical data from multiple indicators into a clean table overlay and automatically plots the most relevant S&R levels based on recent price action. The primary goal is to provide a clear, at-a-glance overview of the market's structure and data.

It offers both a vertical and horizontal layout to fit any trader's workspace.



Key Concepts & Calculations Explained

This indicator is more than a simple collection of values; it synthesizes data to provide unique insights. Here’s a conceptual look at how its core components work:

• Automatic Support & Resistance (Pivot-Based):
  The dashed support (green) and resistance (red) lines are not manually drawn. They are dynamically calculated based on the most recent confirmed pivot highs and pivot lows. A pivot is a foundational concept in technical analysis that identifies potential turning points in price action.
  How it works: A pivot high is a candle whose `high` is higher than a specific number of candles to its left and right (the "Pivot Lookback" is set to 5 by default in the settings). A pivot low is the inverse. By automatically identifying these confirmed structural points, the script visualizes the most relevant levels of potential supply and demand on the chart.
  
  
• Relative Volume (RVOL):
  This value in the table is not the standard volume. It measures the current bar's volume against its recent average (specifically, `current volume / 10-period simple moving average of volume`).
  Interpretation: A reading above 2.0 (indicated by green text) suggests that the current volume is more than double the recent average. This technique is used to identify significant volume spikes, which can add conviction to breakouts or signal potential market climaxes.
  
  
• Consolidated Data for Context:
  Other values displayed in the table, such as the EMAs (9, 20, 200), Bollinger Bands (20, 2), RSI (14), MACD (12, 26, 9), and VWAP (on intraday charts), use their standard industry calculations. They are included to provide a complete contextual picture without needing to load each indicator separately, saving valuable chart space.
  

How to Use This in Your Trading

This dashboard is designed as a tool for confluence and context, not as a standalone signal generator. Here are some ways to integrate it into your analysis workflow:

1. As a Trend Filter: Before considering a trade, quickly glance at the EMAs and the MACD values in the table. A price above the key EMAs and a positive MACD can serve as a quick confirmation that you are aligned with the dominant trend.
   
   
2. To Validate Breakouts: When the price is approaching a key Resistance level (red pivot line), watch the RVOL value. A reading above 2.0 on the breakout candle adds significant confirmation that the move is backed by strong interest. The same logic applies to breakdowns below a support level.
   
   
3. To Spot Potential Reversals: Confluence is key. For example, if the price is testing a Support level (green pivot line) AND the RSI in the table is approaching oversold levels (e.g., near 30), it can signal a higher probability reversal setup.
   

About This Indicator

This indicator was developed by the team at ChartLense to help traders declutter their charts and focus on the data that matters. We believe in making complex analysis more accessible and organized. We hope this free tool is a valuable addition to your trading process.