XABCD Harmonic Pattern Custom Range Interactive█ OVERVIEW
This indicator was designed based on Harmonic Pattern Book written by Scott Carney. It was simplified to user who may always used tools such as XABCD Pattern and Long Position / Short Position, which consume a lot of time, recommended for both beginner and expert of Harmonic Pattern Traders. XABCD Pattern require tool usage of Magnet tool either Strong Magnet, Week Magnet or none, which cause error or human mistake especially daily practice.
Simplified Guideline by sequence for Harmonic Pattern if using manual tools :
Step 1 : Trade Identification - XABCD Pattern
Step 2 : Trade Execution - Any manual tools of your choice
Step 3 : Trade Management - Position / Short Position
█ INSPIRATION
Inspired by design, code and usage of CAGR. Basic usage of custom range / interactive, pretty much explained here . Credits to TradingView.
I use a lot of XABCD Pattern and Long Position / Short Position, require 5 to 10 minutes on average, upon determine the validity of harmonic pattern.
Upon creating this indicator, I believed that time can be reduced, gain more confidence, reduce error during drawing XABCD, which helps most of harmonic pattern users.
█ FEATURES
Table can positioned by any postion and font size can be resized.
Table can be display through optimized display or manual control.
Validility of harmonic pattern depends on BC ratio.
Harmonic pattern can be displayed fully or optimized while showing BC ratio validity.
Trade Execution at point D can be displayed on / off.
Stop Loss and Take Profit can be calculated automatically or manually.
Optimized table display based extend line setup and profit and loss setup.
Execution zone can be offset to Point C, by default using Point D.
Currency can be show or hide.
Profit and Loss can be displayed on axis once line is extended.
█ HOW TO USE
Step 1 : Trade Identification - Draw points from Point X to Point C. Dont worry about magnet, point will attached depends on High or Low of the candle.
Step 2 : Trade Execution - Check the validity of BC to determine the validity of harmonic pattern generated. Pattern only generate 1 pattern upon success. Otherwise, redraw to other points.
Step 3 : Trade Management - Determine the current candle either reach Point D or Potential Reversal Zone (PRZ). Check for Profit & Loss once reach PRZ.
█ USAGE LIMITATIONS
Harmonic Patterns only limits to patterns mentioned in Harmonic Trading Volume 3 due to other pattern may have other or different philosophy.
Only can be used for Daily timeframe and below due to bar_time is based on minutes by default.
Not recommended for Weekly and Monthly timeframe.
If Point X, A, B, C and D is next to each other, it is recommend to use lower timeframe.
Automated alert is not supported for this release. However, alert can be done manually. Alert will updated on the version.
█ PINE SCRIPT LIMITATIONS
Known bug for when calculate time in array, causing label may not appeared or offset.
Unable to convert to library due to usage of array.get(). I prefer usage for a combination of array.get(id, 0), array.get(id, 1), array.get(id, 2) into custom function, however I faced this issue during make arrays of label. Index can be simply refered as int, for id, i not sure, already try id refered as simple, nothing happens.
linefill.new() will appeared as diamond box if overused.
Text in box.new() unable to use ternary condition or switch to change color. Bgcolor also affected.
Label display is larger than XABCD tool. Hopefully in future, have function to resize label similar to XABCD tools.
█ IMPORTANTS
Trade Management (Profit & Loss) is calculated from Point A to D.
Take Profit is calculated based on ratio 0.382 and 0.618 of Point A to D.
Always check BC validity before proceed to Trade Management.
Length of XABCD is equal to XAB plus BCD, where XAB and BCD are one to one ratio. Length is measured in time.
Use other oscillator to countercheck. Normally use built-in Relative Strength Index (RSI) and Divergence Indicator to determine starting point of Point X and A.
█ HARMONIC PATTERNS SUPPORTED
// Credits to Scott M Carney, author of Harmonic Trading Volume 3: Reaction vs. Reversal
Alt Bat - Page 101
Bat - Page 98
Crab - Page 104
Gartley - Page 92
Butterfly - Page 113
Deep Crab - Page 107
Shark - Page 119 - 220
█ FAQ
Pattern such as 5-0, perfect XABCD and ABCD that not included, will updated on either next version or new release.
Point D time is for approximation only, not including holidays and extended session.
Basic explaination for Harmonic Trading System (Trade Identification, Trade Execution and Trade Management).
Harmonic Patterns values is pretty much summarized here including Stop Loss.
Basic explanation for Alt Bat, Bat, Crab, Gartley, Deep Crab and Butterfly.
█ USAGE / TIPS EXAMPLES (Description explained in each image)
Hỗ trợ và kháng cự
SVDThis indicator aims to compare between two charts if trader isn't sure which one is more active and powerful, it does NOT show entries or help your chart analysis directly.
The main features of this indicator is to show vitality and range of any given chart.
Volatility: it calculates the average profit of every swing in the range and the final result will be the chart volatility, which indicate how profitable this chart is.
Range: it calculates the profit of the whole range compared to the total price. (E.g. range bottom is 0.1 and range top is 0.2 the range will be 100%)
Extra: indicator shows the total direction of the chart in term of (STRONG UPTREND, UPTREND, SIDEWAYS, DOWNTREND, STRONG DOWNTREND), if you got (Somthing_wrong) please contact me.
How to use: apply the indicator on different charts that you have chosen and the higher (volatility & range) the more profitable the chart is.
inputs:
Lookback length: how long the range is (how many candles are included).
How intense should the Swing be: how many candles should be counted as a confirmation complete swing.
Show counted Swings: if checked as true, will show the swings counted in the volatility calculation.
For any notes on the indicator to be edited, or for another indicator ideas please comment.
Swing Pivots High LowBINANCE:BTCUSDT
This indicator is an opensource merge of the built in 'Pivot Points High Low' and the most popular 'Swing-high-low-support-resistance' indicators. The original 'Pivot Points High Low' does not have extensions with better visibility, while the most popular 'Swing-high-low-support-resistance' has no source available. I've also added additional configurable alert conditions for Pivot High and Low Crossover/Crossunder.
Please read the official documentation for further information about the indicator.
K's EnvelopesTrading is all about finding reactionary levels from where we assume prices will take a certain direction. And from that assumption, we initiate either a long (Buy) position or a short (Sell) position. Many techniques can be used to find support and resistance levels such as pivot points, Fibonacci retracements, and graphical levels. However, these techniques are all static in time, i.e. they do not move with real time data. In contrast, moving averages are dynamic and do a great job at finding support and resistance levels.
The idea of K's Envelopes is to form support and resistance zones so that we find good entry points. It is a combination of two 800-period moving averages where one is applied to the highs and the other applied to the lows, thus forming a moving zone used to support or place a ceiling on the market price.
Key Levels (Time Frames - Weekly,Monthly,Quarterly,Yearly)This indicator plots the 4h, Daily, Weekly, Monthly, Quarterly, Yearly Open High, Low and Mids.
You can watch how these institutional trading levels work as support and resistance.
Most Important you can add alerts to these levels with a few clicks.
Just add/remove unnecessary levels for scaling problems.
For any error/suggestion/improvement just let me know.
CRC.i Bollinger Bands ®This script is yet another variant of the famous Bollinger Bands® TA tool used to track price volatility as it deviates from the mean of a security using standard deviations (positive &negative). Built for my own personal preferences. But perhaps you might like it, too.
Includes
+ Chart Lines: price, upper and lower bands
+ User Options: SMA length, stdev value
+ Heads up Display (HUD) with TARGET's and other related stats
Bugs? Comments? Requests? Ping me @calmrat
Demand & Supply Zones [eyes20xx]Demand & Supply Zones
This indicator helps to identify large moves driven by institutions.
What qualifies as a zone?
If the price moves (open to close) by more than a certain % in one candle or in a bullish / bearish run of candles, the zone is marked as a Demand or Supply zone .
0.8% is good for Crypto and Forex might be better with 0.4%. Play around with the % to match your requirements.
Active zones
A zone remains active until it is hit by the price. When it becomes inactive, the zone background becomes transparent.
Zone lines
Lines are displayed if the zone is active and within a certain % of the close. 3% is a good setting for Crypto.
A maximum of two lines are displayed for each zone type.
Speed DiamondSpeed Diamond allows the user to easily view their chosen price target in relation to the current price of the chart.
It displays a Diamond at the bar where the (theoretical) trade would have been entered and a line at the entry price.
Displayed on the line is the amount of bars it has taken to arrive at your price target (current price).
Price targets can be set in Percentage, Ticks, and Price.
This indicator was not developed to be predictive and is simply intended for reference.
A potential use case could be discovering potential support and resistance zones.
Smamaema1 SMA, 3 EMA, 1 MA. The SMA in white is an amazing support/resistence level on 4h charts with a long history, the three EMA are good indicators of buy/sell zones and and the MA is the same as EMA but with lag.
Om Boy CandlesUsed by me to play binary option.
A little project to help my nephew decide which candle to refer to make SNR lines
Percentage Levels by TimeframePlots the positive and negative percentage levels from a selection of timeframes and sources for any ticker. You can use this within a pullback trading system. For example, if you historically look at the average pullback of large cap stocks and ETF's, you can use this indicator to plot the levels it could pullback to for an entry to go long. It can be used as potential targets when trading a ticker short. Another use for this is to backtest the set percentage targets using TradingView's bar replay feature to see how ETF's and large cap stocks have reacted at these levels. Note: This is intended to be used at timeframes equal to higher than the chart's as it may cause re-painting issues.
Currently percentage levels are statically set to 1, 3, 5, 10, 15, 20, 25, and 30% levels above and below the chosen source (open, high, low, close). You can also display the data based on timeframes from Daily (1D) all the way up to Yearly (12M)
*Not financial advice but in my opinion the current percentage levels set (see above) are best used for ETF's and Large Cap Stocks.
Jan 2
Release Notes: Added the ability to select the historical bars to look back when plotting levels
Jan 2
Release Notes: To get a better display or proper resolution on your charts, change the view settings to "Scale Price Chart Only"
Jan 2
Release Notes: To add % labels for this indicator on the price axis, change your chart settings to include "Indicator Name Label" & "Indicator Last Value". You can find this under the Label section after hitting the gear icon in the bottom right of your chart.
Jan 2
Release Notes: Added: Custom Line Plot Extension Settings. Ideally both values should be equal to display optimal extended lines. To return to a base setting: '1' = Historical Lookback & '0' = Offset Lines. Also note this is dependent on the timeframe you are viewing on the chart.
Jan 2
Release Notes: Removed indicator from example chart that was not needed.
Jan 2
Release Notes: Updated some comments in the Pine Script
Jan 2
Release Notes: Update: Added commentary and instructions in the indicator settings to address recommended line plot settings for Stocks/ETF's vs Futures
Jan 2
Release Notes: Changed title from "Calculation Method" to "Calculation Source"
Jan 4 2021
Normal use of security() dictates that it only be used at timeframes equal to or higher than the chart's as it may cause re-painting
Universal logarithmic growth curves, with support and resistanceLogarithmic regression is used to model data where growth or decay accelerates rapidly at first and then slows over time. This model is for the long term series data (such as 10 years time span).
The user can consider entering the market when the price below 25% or 5% confidence and consider take profit when the price goes above 75% or 95% confidence line.
This script is:
- Designed to be usable in all tickers. (not only for bitcoin now!)
- Logarithmic regression and shows support-resistance level
- Shape of lines are all linear adjustable
- Height difference of levels and zones are customizable
- Support and resistance levels are highlighted
Input panel:
- Steps of drawing: Won't change it unless there are display problems.
- Resistance, support, other level color: self-explanatory.
- Stdev multipliers: A constant variable to adjust regression boundaries.
- Fib level N: Base on the relative position of top line and base line. If you don't want all fib levels, you might set all fib levels = 0.5.
- Linear lift up: vertically lift up the whole set of lines. By linear multiplication.
- Curvature constant: It is the base value of the exponential transform before converting it back to the chart and plotting it. A bigger base value will make a more upward curvy line.
FAQ:
Q: How to use it?
A: Click "Fx" in your chart then search this script to get it into your chart. Then right click the price axis, then select "Logarithmic" scale to show the curves probably.
Q: Why release this script?
A: - This script is intended to to fix the current issues of bitcoins growth curve script, and to provide a better version of the logarithmic curve, which is not only for bitcoin , but for all kinds of tickers.
- In the public library there is a hardcoded logarithmic growth curve by @quantadelic . But unfortunately that curve was hardcoded by his manual inputs, which makes the curve stop updating its value since 2019 the date he publish that code. Many users of that script love using it but they realize it was stop updating, many users out there based on @quantadelic version of "bitcoin logarithmic growth curves" and they tried their best to update the coordinates with their own hardcode input values. Eventually, a lot of redundant hardcoded "Bitcoin growth curve" scripts was born in the public library. Which is not a good thing.
Q: What about looking at the regression result with a log scale price axis?
A: You can use this script that I published in a year ago. This script display the result in a log scale price axis.
MILK (My Intraday Lazy Kit)I made this script to group information considered useful in forex day trading, of course it can be used on crypto or other markets.
First of all, feel free to suggest any improvement/new feature you would consider interesting for such an use. This is not especially a final version and I'm sure other relevant information can be added in this tool.
Current features are the following
An international clock showing time and session status (open/closed) for 5 different cities. You can modify it in parameters.
Drawings of previous days/weeks open/high/low/close prices, which will be often used as supports and resistances zones.
The Clock shows
City
Time (with a bgcolor corresponding to the "period" of the day (Morning, Afternoon, Evening, Night)
Session status (Cyan when the corresponding session is open, blue when it's closed)
Price levels names are
YTD-H : Yesterday's high
YTD-L : Yesterday's low
YTD-C : Yesterday's close
YTD-O : Yesterday's open
PWH : Previous week high
PWL : Previous week low
PWO : Previous week open
PWC : Previous week close
Levels width and colors can be modified.
You can also enable/disable the clock, and daily or weekly levels in the options panel.
Nothing more to say for now, I mainly integrated information I like to have, but I'll probably add new features in it if I get some.
EMA MTF PlusI like trading the 1 minute and 3 minutes time-frames. I'm what is commonly called a "scalper". Long term investments yes, I have some, but for trading, I don't have neither the time,
nor the patience to wait hours or days for my trade to be complete.
This doesn't mean I discount the higher time-frames, no, I actually rely heavily on them. I found that EMAs do a decent job as support/resistance, sometimes to a tick level of precision. And this is important for a 1 minute trader.
As such, I made this script that tracks the higher time-frames EMAs and displays the last value as a line.
I do not need the whole EMA, I'm not interested in crossovers or crossunders, these are anyway late signals for me.
What's with the triangles? These are local tops/bottoms , candles that have a have decent size of the wick. These tops and bottoms are by no means "final", they are merely a rejection at certain levels of price. Due to markets complexities (and human erratic behaviors hehe) these levels could be breached at the very next candle. For a more "final" version (nothing is really final but..) I added Schaff Trend Cycle as filter, so a triangle will pop only when a trend is mature enough ( STC with a value near 0 or near 100).
Colored bars. When the body of the candle is big, it shows strength. Strong bars tend to have follow through, especially when breaking key levels. The script looks at the body of the candle and compares it with ATR (Average True Range), if it's at least 0.8 of ATR it changes the bar color to yellow (bull candles) or fuchsia(bear candles).
Range identifier. This code is copied from Lazy Bear (if there are any issues please let me know), it's very useful in conjunction with colored bars.
I look for breakout candles that go outside of the range as a signal for a trade.
There are many ways in which this script can be useful, like trading mean reversions or momentum trades (breakouts) or simply trend following trades.
I hope you guys find it useful, you can play with default values and change them as you like, these are what I found to be working best for me and my trading universe (mostly crypto).
Special thanks for the original work of:
LazyBear
everget
Jim8080
Volume-based Support & Resistance ZonesThe new and improved Support & Resistance Zones indicator is here. This indicator is based on high volume at fractal lows or fractal highs with the zones based on the size of the wick for that timeframe’s candle.
This helps traders visualize which price levels are of the most significance for either reversals or continuation of the trend when zones are broken and then re-tested.
Original script is thanks to synapticex and additional modifications is thanks to Lij_MC. Credit to both of them for most of the logic behind this script.
Since then I have made many changes to this script as noted below:
Changed default S/R lines from plots to lines, and gave option to user to change between solid line, dashed line, or dotted line for both S/R lines.
Added additional time frame and gave more TF options for TF1 other than current TF. Now you will have 4 time frames to plot S/R zones from.
Gave user option to easily change line thickness for all S/R lines.
Made it easier to change colors of S/R lines and zones by consolidating the options under settings (rather than under style).
Added extensions to active SR Zones to extend all the way right.
Added option to extend or not extend the previous S/R zones up to next S/R zone.
Added optional time frame labels to active S/R zones, with left and right options as well as option to adjust how far to the right label is set.
Fixed issue where the higher time frame S/R zone was not properly starting from the high/low of fractal. Now any higher time frame S/R will begin exactly at the High/Low points. Note that this may not work perfectly on stocks and if a fractal high/low is too many bars in the past, it will revert to a default max bars back to avoid script errors.
Added to script a function that will prevent S/R zones from lower time frames displaying while on a higher time frame. This helps clean up the chart quite a bit.
Created arrays for each time frame's boxes and lines so that the number of S/R zones can be controlled for each time frame and limit memory consumption.
New alert options added and customized alert messages.
- The way this indicator works is it looks for fractal highs or fractal lows with volume that pierces above the volume's Moving Average. This moving average value can be modified in the settings for each time frame.
- The fractal highs will be confirmed with 3 successive higher highs followed by 2 successive lower highs and vice versa for the fractal lows.
- The zone is created from the fractal high/low and the close of the candle for whatever time frame you selected. The bigger the zone, the more significant that zone is.
- You can disable any zone, change the zones to show lines only, and modify all the colors, transparencies, and thickness of lines for all the zones.
- To create alerts, you first want to enable the types of alerts you want for each time frame in the indicator's settings. Then after you apply changes, right click on one of the zones on the chart, and click "Add Alert on Vol S/R Zones". You do not need to add a title as the correct alert messages are already built-in.
- More changes will be coming in the future!
I hope you find this indicator useful, if so please give it a thumbs up!
If you have any suggestions or features you would like to see, just let me know in the comment section. Thanks and enjoy!
Support Resistance Zones using confluence & Std. DeviationOverview:
This indicator takes (interactive) input from the user for support and resistance levels and plots important zones considering the other confluence levels in the indicator.
Working of indicator:
This indicator takes six input of Support/resistance level form the user
It has following 32 confluence levels
a.4 Recent positive Divergence levels (DN1, DN2, DN3, DN4)
b.4 recent negative divergence levels (DP1, DP2, DP3, DP4)
d.5 Fibonacci levels (Fib0, Fib236, Fib5, Fib618, Fib786)
e. 7 Pivot levels (P, PR1, PR2, PR3, PS1, PS2, PS3)
f.4 EMAs (E20, E200, E100, E50)
g. ATH, ATL, Weekly High, Weekly Low, two days ago high, two days ago low, previous day high , previous day low
The code checks nearest ‘n’ CONFLUENCE for each level (“Number of confluences to check”) in the indicator, after getting the nearest confluence it calculates the standard deviation of those levels WITH RESPECT TO THE MANUAL INPUT LEVELS.
If the Std. Deviation is less than the input value (“Minimum standard deviation” option) then the zone is displayed on the chart.
How to use:
Add the indicator on the chart select your important support and resistance levels.
Set standard deviation, if the confluence is less than the input standard deviation then you will see those zones on the chart.
You can display all divergence levels; you can display all fib levels. All confluences can be displayed by using the setting of the indicator
How to read the indicator values:
The zone will show all the confluence it has in its zone,
Example:
Table details:
The table shows the maximum and minimum deviation out of all six levels .To see at least one zone you have to make sure that Input value Std. Deviation must be greater than Min Std. Deviation of the table
Sources & refences :
Big thank to www.pinecoders.com and kodify.net
Standard deviation :
www.investopedia.com
function to find 'k' closest elements :
www.techiedelight.com
Interactive support resistance :
Divergence for many indicators:
Auto fib level by DGT:
www.tradingview.com
Pythagorean Means of Moving AveragesDESCRIPTION
Pythagorean Means of Moving Averages
1. Calculates a set of moving averages for high, low, close, open and typical prices, each at multiple periods.
Period values follow the Fibonacci sequence.
The "short" set includes moving average having the following periods: 5, 8, 13, 21, 34, 55, 89, 144, 233, 377.
The "mid" set includes moving average having the following periods: 5, 8, 13, 21, 34, 55, 89, 144, 233, 377, 610, 987, 1597.
The "long" set includes moving average having the following periods: 5, 8, 13, 21, 34, 55, 89, 144, 233, 377, 610, 987, 1597, 2584, 4181.
2. User selects the type of moving average: SMA, EMA, HMA, RMA, WMA, VWMA.
3. Calculates the mean of each set of moving averages.
4. User selects the type of mean to be calculated: 1) arithmetic, 2) geometric, 3) harmonic, 4) quadratic, 5) cubic. Multiple mean calculations may be displayed simultaneously, allowing for comparison.
5. Plots the mean for high, low, close, open, and typical prices.
6. User selects which plots to display: 1) high and low prices, 2) close prices, 3) open prices, and/or 4) typical prices.
7. Calculates and plots a vertical deviation from an origin mean--the mean from which the deviation is measured.
8. Deviation = origin mean x a x b^(x/y)/c.
9. User selects the deviation origin mean: 1) high and low prices plot, 2) close prices plot, or 3) typical prices plot.
10. User defines deviation variables a, b, c, x and y.
Examples of deviation:
a) Percent of the mean = 1.414213562 = 2^(1/2) = Pythagoras's constant (default).
b) Percent of the mean = 0.7071067812 = = = sin 45˚ = cos 45˚.
11. Displaces the plots horizontally +/- by a user defined number of periods.
PURPOSE
1. Identify price trends and potential levels of support and resistance.
CREDITS
1. "Fibonacci Moving Average" by Sofien Kaabar: two plots, each an arithmetic mean of EMAs of 1) high prices and 2) low prices, with periods 5, 8, 13, 21, 34, 55, 89, 144, 233, 377, 610, 987, 1597, 2584, 4181.
2. "Solarized" color scheme by Ethan Schoonover.
Daily Weekly Monthly Yearly OpensThis indicator draws key level lines such as daily open, weekly open, monthly open, yearly open, previous daily open, previous weekly open, previous monthly open, previous yearly open, monday daily high and monday daily low to chart. This lines can act either support or resistance but it is just possibility. This lines will help you to find buy and sell places.
Monthly/Weekly/Daily/High and LowsSimple script that marks the prior month/week/day highs and lows for finding key levels.
Plot Real Open and Close - SamXI built this indicator as a personal request from a friend. He often trades using Heiken Ashi charts, but wanted a way to easily cross-reference real-price open and close values for the same timeframe on the same chart (as HA candles are by design lagging, they can take a few periods to catch up to a large move). This can also be used to help guide support and resistance zones using real-price data points should you so choose.
There are 2 major ways to configure this indicator to display real-price open and close:
As a Bar or Hollow Candle style chart overlay
As on-chart shapes (allowing individual control over which data to show - open, close, or both)
Donchian SARCombination of Donchian channels and sar. The donchian channels provides simple and easy data of support and resistances and SAR tells the price trend
Support Resistance InteractiveHello All,
Using this "Support Resistance Interactive" script you can set the Support/Resistance levels interactively by clicking on the chart. Using the SR levels you set, the indicator creates Support Resistance zones. The width of the zones are calculated by using Threshold option and Threshold is the percent of the distance between Highest/Lowest levels in last 300 bars. if you set Threshold = 1 then it means 1% of the distance between Highest/Lowest levels. You can change SR levels by moving the level up/down by using your mouse anytime you want.
Now lets see it step by step;
After you added the indicator it will ask 5 Support/Resistance Levels and when you click any point then it's kept as S/R level and it asks another SR levels. if you want to use only 3 SR levels then last 2 SR levels are not important and you can click anywhere on the chart;
After you set all SR levels, it will ask "Number of Support/Resistance" . if you want to activate first 3 SR lines then set it 3. by default it's 5. when you set it click "Apply" and see the SR zones. that's it.
You can enable/disable alerts and set frequency, then create alerts. as it's interactive tool, the SR levels you set are specific for the current/active symbol. if you open another symbol then you better delete the indicator and add it again
Three Alerts exist in the script: Support Broken, Resistance Broken and Price in SR zone . you can enable/disable the alerts as you wish and you can set frequency for each one as "Once Per Bar" or "Once Per Bar Close"
by default Green/Red/Gray colors are used but You can change the colors using the options. according to the Price moves, SR zone colors are changed automatically.
when we have "Reset" feature to run the script interactively (like we added it for first time) I can update the script, then you will not need to delete/re-add each time you changed the symbol :)
In this example "Threshold" is 2 and "Number of Support/Resistance" is 4.
in this example "Threshold" is 0 and "Number of Support/Resistance" is 5.
Last example; Labels are shown for each zone, you can set location of the labels. SR order and Upper/lower band of each zone are shown in each label.
Enjoy!
Close to SupertrendMany a times, we have seen that the price closing in towards supertrend reverses.
This indicator gives signal that identifies high / low of any candle if near the down / up supertrend line by a defined margin using arrow signals.
I've simply re-used readily available supertrend indicator source code and just modified it to these signals. So, almost all of the source code is not mine.
Enter the short / long position when arrow signal appears.
SL / trend reversal will be mandatorily at close of a candle above or below the supertrend line, and the supertrend changes direction.
Hope this indicator comes handy for you.