Support and Resistance Levels

Support and Resistance Levels with Breaks – Amin & Taufik
The Support and Resistance Levels with Breaks indicator is designed to automatically detect support and resistance levels based on pivots (high and low points within a given period). It also highlights breakouts of these levels, confirmed by increased volume for additional validation.

Key Features:
✅ Automatic Support & Resistance Detection

Uses pivothigh and pivotlow to identify key support and resistance levels.
Red lines indicate resistance, while blue lines represent support.
✅ Breakout Confirmation with Volume

The indicator generates breakout signals when price breaks support or resistance with high volume.
A downside breakout is marked with a red "B" label above the candlestick.
An upside breakout is marked with a green "B" label below the candlestick.
✅ Bullish & Bearish Wick Detection (Rejections)

Additional signals for long wicks (candlestick shadows) indicating possible price reversals.
Bullish Wick (rejection at support) is marked with a green label.
Bearish Wick (rejection at resistance) is marked with a red label.
✅ Automatic Breakout Alerts

The indicator can send automatic notifications when support or resistance is broken with high volume.
How to Use:
1️⃣ Adjust the Left Bars and Right Bars parameters to fine-tune pivot sensitivity for detecting support & resistance.
2️⃣ Enable the Show Breaks option to see breakout confirmations with high volume.
3️⃣ Use this indicator alongside price action analysis and other indicators to confirm trade decisions.

🚀 Ideal for:
✔️ Scalping & Intraday Trading
✔️ Swing Trading & Trend Following
✔️ Breakout & Retest Confirmation

ℹ️ Note:
This indicator does not provide direct buy or sell signals. It is recommended to use it alongside other technical analysis tools, such as candlestick patterns, moving averages, and RSI, for more accurate decision-making.

📌 Developed by: Amin & Taufik
🔗 License: Attribution-NonCommercial-ShareAlike 4.0 (CC BY-NC-SA 4.0)

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