This algorithm draws supports/resistance levels automatically based on historic candle density at each height. The basic idea is the levels where price is rejected quickly is likely to have fewer candles in the past than the levels above and below. This does not take volume into account. The lookback and number of levels has to be kept low to prevent too many...
Finds Price Support Based on last 20 Bar Low, 40 Bar low, and 80 Bar low, and calculated using 1x 80 bar low, 0.5x 40 bar low, and 0.2x of the 20 bar low. Feel free to check out the script!
How to use: Add to your chart, drag the indictor to the main chart, then merge both scales on the right!
a pivot point is a price level that is used by traders as a possible indicator of market movement. A pivot point is calculated as an average of significant prices (high, low, close) from the performance of a market in the prior trading period. If the market in the following period trades above the pivot point it is usually evaluated as a bullish sentiment, whereas...
This script shows support-and-resistance levels that span months and weeks.
It also shows the levels in the last 100 bars in higher detail. Details detection is only applied to last 100 bars so that your chart is not cluttered with infinite horizontal lines. 100 can be changed in the settings.
For example, here, you see the levels in small time frames at a...
/ This script calculates the daily resistance and support levels. The entry is when the close breaks these levels.
// Then it sets 4 exit lines, if the backtraces these lines you've got your normal exit.
// If the close crosses the TP you've got your TP exit. And if the close crosses the SL you've got your SL exit.
// This is the good part --> If the...
Trend Lines, Supports and Resistances.
Triangles indicators for confirmations buy/sell.
Use for binaries (1M-3M-5M)
- LRG_Channel_TF_mins_D_W_M = 30
- Range = 1
- SML_Channel_TF_mins_D_W_M = 240
Use for forex/cryptocurrencies/indices (15M-1H-4H)
- LRG_Channel_TF_mins_D_W_M = D
- Range = 1
- SML_Channel_TF_mins_D_W_M = W
I would like to introduce you Standard deviation zones Support & Resistance horizontals. It draws line horizontals on high and low st dev zone. The colors are dynamic depending whether price is below or above the line.
Credit is due to @Zeiierman for st dev zone calculation so shout out to him.
There are various sections in setting:
Larry Williams Developed This Incredible Indicator. It Gives The Same Readings The VIX does for Stock Index’s…But This Indicator Works on All Asset Classes.
I Customized The Settings Slightly To Create “Percentile” Based Highlight Bars…So You May Need To Adjust Slightly For Your Asset Class. These Are The Standard Settings Shown Here. Designed For Daily...
First all of thanks to LonesomeTheBlue for making me grasp arrays, a wonderful addition to Pine Script.
This indicator uses arrays to find Pivot Points and mark them as Support / Resistance.
It displays an info panel with the latest values.
This code was written using the following standards:
• PineCoders Coding Conventions for Pine:...
This is Dynamic Support / Resistance script.
How it Works?
It finds Pivot Points and creates channels for each Pivot Point. Channel size is calculated by (Highest - Lowest) * %Channel_size in Loopback Period. After creating channels it calculates that how many Pivot Points in the channels. more Pivot Points in channel means stronger Support/Resistance. in the...
Opening Levels is an indicator to draw lines on the opening prices of the current day, week, and month.
1. Line Width :- Opening Levels Line width, from 1 to 10
2. Right Offset :- Right offset from current bar, from 0 to 50
3. Line Style :- Select line styles from
4. Show Label :- Show or hide price labels
5. Day Level Color :- Current...
Absolute Retracement is a tool to obtain support and resistance levels.
It is designed for macro-level support and resistance and should be used on daily, weekly or monthly timeframes.
1. Define the Reference Point
There are 4 methods to define reference point and start initialization of the script:
- All Time Low / All Time High : The...
Alert and lite version of the Setup indicator.
___ Alert list:
1. Bearish / Bullish Price flip.
--- Market closed higher than the close price four bars earlier and the prior bar’s close is lower than the close five price bars earlier, vise versa for the opposite direction.
2. Setup Count Termination
--- Market confirmed the Buy / Sell Setup termination...
First of all, I'd like to thank Ricardo Santos, Backtest Rookies for the inspiration for this script.
Actually, most of it is coming from them and I only mixed them up (and added my secret sauce ^^). If some of you are not thinking about a trading secret sauce, please get serious for a moment :)
Some of you asked me how I do to set the trend...
New Williams Vix Fix - Major Update - Filtered Entries - Additional Alerts - And Much More...
***01-05-2015 Major Updates Include:
***ALL Features Available To Turn On/Off On The INPUTS Tab!!!
FILTERED ENTRIES -- Plus AGGRESSIVE FILTERED ENTRIES - HIGHLIGHT BARS AND ALERTS
*Alerts Enabled for 4 Different Criteria
*Ability To Plot Alerts True/False Conditions...
-This script utilizes simple color changes of the TSI output signals to aid in interpretation of the classic TSI indicator.
-Crosses of the TSI value line and signal line are a bullish or bearish indication. TSI value line is colored green or yellow to help identify that the TSI value line is either dropping or rising, while over or under the signal line.
This is a dynamic structure indicator designed to map potential support and resistance zones (in all markets). It does this by looking back x amount of candles to identify major swing highs and lows on the specified reference timeframe, and then it draws a zone between the highest/lowest wick and the highest/lowest candle close across the chart until a new zone...