Automatic Support & Resistance

The indicator attempts at automatic detection of support and resistance levels by identifying large swings/ pivots in historical price action. These tops and bottoms in price action show where lots of buyers or sellers came into the market and might act as future levels of support or resistance. By default, the code detects the last 3 significant swing highs and the last 3 swing lows. It then places lines on the chart to highlight those levels.

Once you are comfortable with the code base and how the indicator operates, you may wish to expand upon it. One obvious addition to make would be inputs for the "Left Bars", "Right Bars" and "Quick Right" variables so that you can tune the indicator according to your own taste.

Feel free to tweak the code and let everyone know in the comment section if you are able to improvise it.

Happy trading:-)
Phát hành các Ghi chú: This is an updated version of existing "Automatic Support & Resistance"

This version will allow you to draw Automatic S/R levels based on "Close values" or "High/Low values"

I personally find S/R levels with "Close values" to be are more precise and effective while trading breakouts, hence the need for the update.

Please let me know your thoughts in the comments section below.
Phát hành các Ghi chú: Publishing version 0.2 with the correct display chart
Phát hành các Ghi chú: Correcting some mistakes. Apologies for that :)
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Hey man thanks for this! Will definitely use this as a compliment to my Reversal Strategy!
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How do i make this static and only want to use 1 Hour tmeframe for multiple support and resistance and keep same s/r for smaller time frame?
By the way cool script.
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very nice sir thank you
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Hello , why cant this script does not work in TOS? Do you have anyother version for TOS? Please advise. Thanks
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nice man , what is ur youtue channal name
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May I know whar are "Left Bars", "Right Bars" and "Quick Right" settings ? What is the best setting for stocks ?
Thank You.
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Hey buddy... Thanks a ton for this indicator. JUst simply One of the best indicator
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Not really a fan of automatic plotting of support and resistance (or trendlines), but this developer has done a great job with this. Thank you for sharing your work!
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Mohsin Bro Tussi Chah Gai :) i'm Very new to all this And this indicator helps me to learn... Shukriya Bhai..
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Can I use this as AutoSR for finding BTST stocks. MY BTST trading strategy will focus on correct entry using volume breakouts. To find those potential entry points, I will start by enabling Auto-Support/Resistance by applying your code to charts. Then I will select “Auto-SR Based on Current Cursor” so that the Auto-SR lines are dynamically drawn based on where the current cursor is (i.e. using the past 240 bars exclusive of current cursor). This can be a great way to visually back-test Auto-Support/Resistance. Then I will place a buy order (BTST). Now, I will need exit points, for that I need to create a custom scan based on “Chandelier Exit”. Can you code it too.
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