LonesomeTheBlue

Support Resistance - Dynamic v2

Hello Traders!

After the addition of "Arrays" to the Pine, I developed new and improved version of Support Resistance - Dynamic script as version 2. In this script Arrays were used. This can be used as Support Resistance tool, also it will be an example for the people who want to learn Array usage in Pine. Many thanks to Pine Team for adding Arrays!


The script finds the Pivot Points and check them in channels if there can be S/R or not, and draws mid line of the channel as S/R line. you can set number of PPs and channel width in the options. Each channel width is optimized dynamically according to Pivot Points . Also you can choose "High/Low" or "Close/Open" as source for Pivot Points .

There is an option for maximum number of S/R levels. S/R levels are found and sorted dynamically and number of S/R lines with enough strength changes dynamically.

Some other options for coloring and line width. (Solid, Dashed or Dotted)

S/R levels are shown in the Labels and Label colors are changed automatically, if S/R line is below the closing price then it's color is Green (as Support), otherwise its color is Red (as Resistance).

Examples:




Enjoy!
Phát hành các Ghi chú: Alerts added.
Phát hành các Ghi chú: Color option added for S/R, you can set any color you want ;)
Phát hành các Ghi chú: when the market is closed, labels appears on last candles. so I tried to add a condition to check if the market is open/closed and change the location of labels if the market is closed.

if it detects the market is closed then it shows the labels on 100. bars:
Phát hành các Ghi chú: Added rates between Price and S/R levels into the labels like (3.27%) or (-1.64%)
and now label directions (Up/Down) change dynamically according to the Price
Mã nguồn mở

Với tinh thần của TradingView, tác giả đã xuất bản tập lệnh theo mã nguồn mở, vì thế trader có thể dễ dàng hiểu và tùy chỉnh được. Bạn có thể sử dụng miễn phí, hoặc tùy chỉnh lại mã đã được cấp phép bởi Quy tắc Chung. Bạn có thể sử dụng nó trên biểu đồ.

Bạn muốn sử dụng tập lệnh này trên biểu đồ?

Bình luận

This is one of the best indicators I have come across on TradingView! Could you please help me understand a few things so that I can customi
100 xu
+25 Phản hồi
Hello, I would like to apply indicators (BB,EMA) to support and resistance levels. How can i do this?
200 xu
+3 Phản hồi
Stellar work as always, you're the best. Is it possible to move the support and resistance labels to the right of the screen rather than the
100 xu
+2 Phản hồi
Thanks for the indicator! Great job!
500 xu
+1 Phản hồi
LonesomeTheBlue carnagecain
@carnagecain, thank you
Phản hồi
what settings you can recommend for 5 min TF ? thnx
+26 Phản hồi
@sytnykk, it looks default settings are good but different settings should be better for different securities (FX pairs, stocks, indices etc), there is no workaround about it, you need to find best settings for yourself.
+5 Phản hồi
sytnykk LonesomeTheBlue
@LonesomeTheBlue, big thanks!the same question so as not to repeat - your indicator Support and Resistance MTF - any recommends for 5m TF ?
+12 Phản hồi
SRIKANTHG LonesomeTheBlue
you are super brother
+2 Phản hồi
genkir sytnykk
@sytnykk, Pivot period 21 seems to be the best for 5 min.
+1 Phản hồi