I would like you to present Vortex indicator cross support&resistance script. The idea behind is same as my other S/R scripts to look for important S/R levels.
This time I have used little known and not that old Vortex Indicator that has been released in 2010. Vortex indicator has two plots that crosses each other and on the cross line is rendered. I have included smoothing with TEMA.
The indicator has following settings: General control - here you can select period of vortex indicator and show/hide labels Line control - where you can select type of line, colors...
Nice. If you'd like to experiment with another method for autoplotting S/R levels, check out my progo script. Whenever my tweaked progo crosses the zero line, the body of the candle seems to indicate meaningful levels of S/R. I'm not great at coding and don't have much time until January, but would love to see somebody take this ball and run with it. While we're on the subject, the top and bottom trend lines of my progo indicate the slope of price action. I usually plot the daily slope. Breaks of those trend lines usually suggest trend reversal. For instance, a break of a support line drawn on the progo from the bottom indicates price will go down. A break of a resistance line drawn above suggests we'll move into an uptrend. I have no idea how to autoplot any of that, but it's functional, valuable data that I use regularly. Lastly, it's a momentum indicator, and when price continues traveling in one direction while the momentum of the progo slows or reverses, that's also suggestive of more immediate changes in direction. I'd love to see anyone do anything with any of these functions.
lmatl
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@ChronicMasturTrader, Thanks for suggestion and I love to build interesting stuff I will DM you if I will have doubt with your indicator
ChronicMasturTrader
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@lmatl, Please do! I'd love to see this happen, and would happily do everything I can to help bring it about