Support Resistance MTF

18 thg 6, 2020

Hello Traders,


This is Support Resistance script that uses Multi Time Frame. While getting Close/Open/High/Low values of Higher Time Frames the script does NOT use Security function, instead it calculates them.

while choosing Higher Time Frame, you can use "Auto" option so it uses predefined Higher Time Frames, or you can choose the Higher Time Frame Manually from the list. options for HTF => 15mins, 30mins, 60mins, 120mins, 180mins, 240mins, 720mins, Day, Week, 2 Weeks, Months, 3 Months, 6 Months, 12 Months.

You have option to use High/Low or Close/Open values while calculating support resistance levels.

"Period for Highest/Lowest Bars" option is used as loopback period to check if it's Highest/lowest bars. smaller numbers = more sensitive result.

You have option for transparency and coloring of support/resistance levels/zone => Red, Lime, Blue, White, Black, Olive, Gray


An example for 15 min chart, 4hours selected as HTF


You can set transparency and colors as you wish:


You can choose Close/Open prices while calculating S/R levels instead of High/Low



Enjoy!

20 thg 6, 2020

Phát hành các Ghi chú

"Extend Lines" option added. (user request)

28 thg 9, 2021

Phát hành các Ghi chú

color option changed/improved and unnecessary parts removed
transp usage in fill() function removed

4 thg 10, 2021

Phát hành các Ghi chú

updated