Resistances and supports based on simplified Volume ProfileThis study tries to highlight support and resistances
as they are defined by
TradingLatino TradingView user
His definition is based on volume peaks
on the official TradingView Volume Profile
indicator that seem rather big on size.
As a bonus it also serves as a rather simple volume profile indicator.
As you can see it only show last blocks volume profile.
It's aimed at BTCUSDT pair and 4h timeframe.
HOW IT WORKS
HOW IT WORKS - Recent Profile Block
It gathers volume from the last 100 Bars
in order to draw the recent profile block
Volume that intersects with current level range
being studied is added to its value.
Additionally the current level price is modified
so that it matches the level price where most
of the volume has concentrated
So you get a pretty accurate way of the volume
while at the same time the level are not stuck
to arbitrary level prices.
HOW IT WORKS - Resistances and Supports
It calculates the level which its price it's
nearer (from below) to the current price level
Resistance is found steping up (from current prive level)
level by level
till you find a level which its value
is higher than the previous level value.
Support is found steping down (from current prive level)
level by level
till you find a level which its value
is higher than the previous level value.
That way you ignore rather small
resistances and support values.
Finally the resistances and supports are drawn next to the recent profile block
so that you can look at them with ease.
If you hover over the label you can double check if you are looking at
current price, resistance or support levels.
SETTINGS
Bars in recent profile block : How many previous period volumes are used to calculate the recent profile block
Row width multiplier : Adjust how big the recent profile block seems to be
Resistances prices number of decimal digits : How many digits is shown at the resistance and support level prices.
WARNING
Please be aware that depending on your security and timeframe you might need to modify the
'Bars in recent profile block' setting so that the study does not timeout.
USAGE
If your strategy calculates take profit
limits on higher resistances based
on volume you could use this indicator
resistance detector
FEEDBACK 1
This is my first volume indicator.
I suppose that each trader
has his own approach on defining
resistances and supports.
I'm interested on knowing if the default way
this resistances and supports are calculated
matches what other traders would have
highlighted manually on the chart.
FEEDBACK 2
I have only used this identifier in BTCUSDT 4h timeframe.
I'm interested to know what needs to be tweaked
in other securities and timeframes.
PINE STUDY TRICK
This study let's you choose the number of decimals the label will use.
CREDITS
I have reused and adapted some code from
'Poor man's volume profile' study
which it's from TradingView IldarAkhmetgaleev user.
I also wanted to thank him for helping me understanding his study.
Support
[PX] External LevelHello everyone,
today I'd like to share a script, which enables you to use external logic to plot levels on your chart.
How does it work?
The concept is based on two scripts. One script, which uses an external input as a trigger to print a new level and one script that calculates an output, which will be fetched.
Sounds complicated? It really is not! Let's take a closer look.
// This source code is subject to the terms of the Mozilla Public License 2.0 at mozilla.org
// © paaax
//@version=4
study("RSI OS/OB")
l = input(14, "RSI Length")
ob = input(70, "Overbought")
os = input(30, "Oversold")
r = rsi(close, l)
hline(ob)
hline(os)
plot(r, "RSI", color=color.orange)
// The following plot produces an output, which will be fetched the "External Level"-script.
// It evaluates to one of the following three values: 1.0, -1.0 or 0.0
plot(crossover(r, ob) ? 1.0 : crossunder(r, os) ? -1.0 : 0.0, "Output", transp=100)
The example script above uses an RSI and two threshold levels (70 and 30). The logic here is, that whenever the RSI is crossing down the lower threshold or crossing up the upper threshold we'd consider the current movement to be either oversold or overbought. Therefore, it's a point of interest, which we could visualize with a level.
The script creates an output when the crossover or crossunder of a threshold happens. A crossover would result in a value of 1.0, a crossunder in a value of -1.0. In all other cases the value would be 0.0.
The output of the RSI script would then be used as an input of the External Level script, which has a "Source"-parameter in its input-section. If the fetched input shows 1.0, then the script prints a resistance level. If it shows -1.0 a support level will be printed. And that's basically it. A very simple approach to print levels on your chart with an infinite number of use cases.
For example, you could use fetch outputs from a MACD script, MA script, outputs based on volume or price movement. Just remember the output has to evaluate to either 1.0 or -1.0 and has to be selected in the input-section.
Hope that might be useful to some of you :)
Please click the "Like"-button and follow me for future open-source script publications.
If you are looking for help with your custom PineScript development, don't hesitate to contact me directly here on Tradingview or through the link in my signature :)
RSPRO TrendIndicatorBased on resistance/support and bollinger band fluctuations this indicator also has filter with x bars after RSI overbought/oversell zones from settings.
Indicator has alerts for LONG(BUY)/SHORT(SELL) signals with green/red squares/triangles. You can setup alerts to use different types of entries.
There are two types of entries and signals: early (usually before trend changes) and main (when trend started to reverse)
Fits for BTC and any altcoins. And any assets. Good for both scalping and position trading (depends on timeframe that you use)
Best use it with big timeframes: 45 and 90min, 2 and 4 hours for position trading.
For scalping 5-30min timeframes are good too.
In Script settings you can specify:
1) RSI period, 14 by default.
2) Show early entries (squares), enabled by defaults.
3) Show main entries (triangles), enabled by defaults.
4) Enable/Disable filter to show main entries only after RSI overbought/oversell regions
Disabled by defaults and RSI is 67 for upper zone and 33 for lower zone.
You can also specify how many bars back before current bar this filter must do. It's 10 by default, you can vary it up to 90.
You can also use only early entries (squares)
Or only main entries (triangles)
Or both (by defaults and i recommend)
This is invite only script. PM me if you want to test it.
Support Resistance HH HL LH LLThis is a very powerful indicator and I'm really happy to show you how it works.
It shows Higher Highs(HH),Higher Lows(HL),Lower Highs(LH),and Lower Lows (LL), the supports and the resistance.
Lets start with the HH, HL, LH and LL.
This points helps a lot who can not identify them yet. They help to identify up trends having HH and HL in sequence, and when the trend is not strong anymore creating LH after.
For down trends, the indicator show LH and LL in sequence and when the trend is not strong anymore showing HL after.
As well this indicator helps to draw trend lines when it shows. For example the LL drawing the line from the low of the first candle (LL) to the low of the second candle showing HL for an uptrend.
It can be done for the down trend, drawing the trend line from the high of the candle showing the HH, to the high of the candle showing LH.
Another use of the HH, HL, LH, LL can be the stop loss this will be explained later in the support and resistance part.
Now let me explain the support and resistance.
The support and resistance can be used as entry when the price break true using the previous HH, HL, LH and LL as stop loss.
For a safer entry I advise to use the retest of the line.
In the settings of the indicator there is the possibility to make the indicators invisible, to change the color, and as well to change how many candles before and after the main candle showing the HH, HL, LH and LL, but I advise to leave it as it is.
Thank you and lets take some pips!
True Strong Classical Support/Resistance LevelsThis script is based on the approach of filtering signals by checking higher timeframes.
So basically setting higher numbers in "Strength Of Levels" option, will make the indicator check for support and/or resistance levels in timeframes higher than the current.
Unfortunately, I was forced to still use inefficient built-in functions pivothigh() and pivotlow(). I hope they fix them up soon!
I'm looking for any opinion about the idea and if you like any of my scripts, anything you send means a lot to me.
This script is published for the third time because of some moderators absurd behavior.
But thank heavens, the code is now more clean and of course the option "Strength Of Levels" accepts float numbers.
Market Trading Tools - Auto Adjustable Support & ResistanceOur Auto Adjustable Support & Resistance indicator draws support and resistance lines that can help you estimate where a ticker or financial asset can range, reach or break. The support lines are in lime color while the resistance lines are in red. The colors will automatically change depending on where the candle is. So for example, if the candle is above the support line, the support line will be in lime, if it breaks that support line and closes below it, the same line will turn red becoming a resistance.
** The lines are adjustable, for example, if a stock or financial market broke a resistance and is moving to its all time high, then the line will keep moving with it until it rejects a certain zone. Accordingly, the supports below it will change to the nearest supports formed.
** The indicator can be used on any financial market; crypto, stocks or forex. We do not recommend a certain time frame as each time frame usually has its own support and resistance (the higher the time frame is the similar it will have same support and resistance zones, for example, a 4HR and 1 Day time frame might have similar support and resistance zones)
Once you are granted access to use it, add it from going into the scripts >> invite only scripts >> enable the indicator. Once the indicator is added to your chart you will see the indicator popping up on your chart.
We are happy to announce that our trading indicator is special and unique from different ones because it is adjustable to the current price ranges. We have also enabled a function for our users to get a better view of the trend when they add the indicator to their chart. You can now view the trend background color (red&green) depending on if the price is above the EMA of your choice. you can also check whichever time interval you want that does not limit you to the time interval chosen on your chart itself.
Hope you enjoy it, Good luck and stay safe!
** If you are interested in this indicator. please use the link below to obtain access to this indicator.
NSDT ES USA Open TargetsThis indicator provides potential entries and targets (both long and short) for the ES/MES USA session. It creates potential target lines on the chart as well as a gray box with the potential levels in text format. Both options can be turned on or off at the discretion of the trader. You may need to adjust the chart width so the box shows on the screen. It's position is adjustable.
The lines and the text box are updated after the first 1 MINUTE bar closes for USA session. The USA session open is defined as 9:30AM - 9:31AM, Eastern time.
Place the chart on a 1 MIN time interval for best results. You can change the chart timeframe after the 1st min bar closes and the data is updated.
To get access to this indicator, use the link in the profile signature or private message us here in Tradingview.
NSDT NQ USA Open TargetsThis indicator provides potential entries and targets (both long and short) for the NQ/MNQ USA session. It creates potential target lines on the chart as well as a gray box with the potential levels in text format. Both options can be turned on or off at the discretion of the trader. You may need to adjust the chart width so the box shows on the screen. It's position is adjustable.
The lines and the text box are updated after the first 1 MINUTE bar closes for USA session. The USA session open is defined as 9:30AM - 9:31AM, Eastern time.
Place the chart on a 1 MIN time interval for best results. You can change the chart timeframe after the 1st min bar closes and the data is updated.
To get access to this indicator, use the link in the profile signature or private message us here in Tradingview.
NSDT ES London Open TargetsThis indicator provides potential entries and targets (both long and short) for the ES/MES London session. It creates potential target lines on the chart as well as a gray box with the potential levels in text format. Both options can be turned on or off at the discretion of the trader. You may need to adjust the chart width so the box shows on the screen. It's position is adjustable.
The lines and the text box are updated after the first 1 MINUTE bar closes for London session. The London session open is defined as 3:00AM - 3:01AM, Eastern time.
Place the chart on a 1 MIN time interval for best results. You can change the chart timeframe after the 1st min bar closes and the data is updated.
To get access to this indicator, use the link in the profile signature or private message us here in Tradingview.
NSDT NQ London Open TargetsThis indicator provides potential entries and targets (both long and short) for the NQ/MNQ London session. It creates potential target lines on the chart as well as a gray box with the potential levels in text format. Both options can be turned on or off at the discretion of the trader. You may need to adjust the chart width so the box shows on the screen. It's position is adjustable.
The lines and the text box are updated after the first 1 MINUTE bar closes for London session. The London session open is defined as 3:00AM - 3:01AM, Eastern time.
Place the chart on a 1 MIN time interval for best results. You can change the chart timeframe after the 1st min bar closes and the data is updated.
To get access to this indicator, use the link in the profile signature or private message us here in Tradingview.
NSDT ES Asia Open TargetsThis indicator provides potential entries and targets (both long and short) for the ES/MES Asian session. It creates potential target lines on the chart as well as a gray box with the potential levels in text format. Both options can be turned on or off at the discretion of the trader. You may need to adjust the chart width so the box shows on the screen. It's position is adjustable.
The lines and the text box are updated after the first 1 MINUTE bar closes for Asian session. The Asian session open is defined as 6:00PM - 6:01PM, Eastern time.
Place the chart on a 1 MIN time interval for best results. You can change the chart timeframe after the 1st min bar closes and the data is updated.
To get access to this indicator, use the link in the profile signature or private message us here in Tradingview.
NSDT NQ Asia Open TargetsThis indicator provides potential entries and targets (both long and short) for the NQ/MNQ Asian session. It creates potential target lines on the chart as well as a gray box with the potential levels in text format. Both options can be turned on or off at the discretion of the trader. You may need to adjust the chart width so the box shows on the screen. It's position is adjustable.
The lines and the text box are updated after the first 1 MINUTE bar closes for Asian session. The Asian session open is defined as 6:00PM - 6:01PM, Eastern time.
Place the chart on a 1 MIN time interval for best results. You can change the chart timeframe after the 1st min bar closes and the data is updated.
To get access to this indicator, use the link in the profile signature or private message us here in Tradingview.
Time Dilated Donchian ChannelBefore anything, take notes of the script limitations :
1) The script has the setting : "Max_bars_back" set to 390. This is required to use dynamic length and an "internal clock"
*390 is the normal number of bars in a typical stock trading day.
2) The script requires volume data to work correctly
* I use a way to represent volatility that requires ( volume + price movement + time, no sma , no stdev)
Why ? Because:
HIGH-LOW = Fail to get gap information, fail to get volume information
TR /ATR = Fail to get volume information
STDEV = Not very good with dynamic length as it use SMA and fails when length <2
SMA = SMA give very strange results when using non-integer numbers.
So a good idea is to use the 1 minute timeframe for this indicator.
Conclusion: this script is basically limited to stock trading.
If I could set Max_bars_back to 23 400 this would even work better with a 1 second time frame as more data would be entered in the system.
The idea behind the script is that volatility exists in two different formats depending on how you observe the situation.
Remember your physics class? Light can be a wave or a particle depending of the situation.
Volatility seems to share a strange similar property.
If volatility share similarities with light, then time dilation effect could be applied to stock movement.
Time Dilation formula
Time observed = (Last time - First time) / sqrt(1-(pow(v,2)/pow(c,2))
I've tried a lot of ways to use this formula as is.
Problem is : C.
C is the speed of light and I haven't found the equivalent stock market constant yet.
So I had to tweak the time dilation formula to make it compatible with my volatility. The result is not perfect but it's interesting.
Sometime my volatility gets over that "unknown C stock market constant" which cause "Time travel"
In order to keep the law of physics like they actually work, when a new time is set, I had to "Protect its value".
protected_new_time = highest_(observed time , normal time)
No time travel is allowed. *yet.
I've "speculated" more signal lines by using mathematical geometry.
(Reflective & Inverted)
I've also created another Script that show you the effect volatility over time named : DC Time Keeper.
The script has no other use in itself. It's really only a way to represent how time gets slowed by speed.
For more information about time dilation:
en.wikipedia.org
Volatility DMBefore anything, take notes of the script limitations :
1) The script has the setting : "Max_bars_back" set to 390. This is required to use dynamic length and an "internal clock"
*390 is the normal number of bars in a typical stock trading day.
2) The script requires volume data to work correctly
* I use a way to represent volatility that requires ( volume + price movement + time, no sma , no stdev)
Why ? Because:
HIGH-LOW = Fail to get gap information, fail to get volume information
TR/ATR = Fail to get volume information
STDEV = Not very good with dynamic length as it use SMA and fails when length <2
Conclusion: this script is basically limited to stock trading.
If I could set Max_bars_back to 23 400 this would even work better with a 1 second time frame as more data would be entered in the system.
The idea behind the script is that volatility exists in two different formats depending on how you observe the situation.
Remember your physics class? Light can be a wave or a particle depending of the situation.
Volatility seems to share a strange similar property.
Format 1) Instant volatility . (Ex. High - Low, TR )
Format 2) Systemic volatility (Ex. Dynamic ATR with variable length)
I then speculate 3 lines. (on both directions, + or -)
What if all transaction were 50% directional according to the instant volatility
What if all transaction were 100% directional according to the instant volatility
What if all transaction were 200% directional according to the instant volatility
sum(0,5*instant volatility , dynamic time)
sum(instant volatility , dynamic time)
sum(2*instant volatility , dynamic time)
This give you potential signals lines and support/resistance .
I then calculate the real price movement
sum(price movement, dynamic time)
Then you need to compare the real price movement VS if all transaction were 100% directional following the system volatility
dif=(sum price movement/sum volatility )*dynamic time
Voila.
If the movement is directional then it follows the system volatility .
If the movement is not directional then it goes back toward the Zero.
Inspirational image :
en.wikipedia.org
Magic SRThis indicator can give you idea about where is the potential supply and demand zone exist. This can be used to find the daily, weekly and monthly supply and demand zone.
Contact me for more information.
Magic ReversalThis indicator can point out you monthly potential reversal range. This can be used for people who hold the trade more than couple of days to understand their Risk / Reward ratio. Even this can be used of people who does BTST or STBT trades as well.
Contact me for more information
Support and Resistance MTF levels [SHK]A new way of drawing multi timeframe support and resistance !
This tool doesn't get the last high and lows, otherwise it tries to detect highly liquid levels with pending orders .
Share your opinion and result.
Enjoy!
(MTF) Bollinger Bands + RE RSIs + Hidden Supports & ResistancesI merged some of my previous written indicators, because a combination of multi-timeframe Bollinger Bands, RE RSI and Resistance/Support levels could help a lot.
Don't forget to add my other useful indicator (Classical SnR) to the chart to maximize your profit!
Hidden Supports & Resistances + Round LevelsIf you search the internet, you won't find much about these types of resistance and support levels. Hidden levels are SnR levels calculated based on some psychological patterns and sometimes it's unbelievable that the chart responds to these levels.
So use the indicator and check the idea.
Classical Supports & ResistancesThis indicator shows classical resistance and support levels which retraced the chart lately. Notice that the condensed lines laying close together are showing an area of support and/or resistance.
But after all, it was a tedious work creating this indicator because like I've already said, pine script is a very odd and weak language which does not have many ordinary features like useful loops, simple line drawing and even reasonable variable casting!
So I was forced to use its built-in pivothigh() and pivotlow() functions without any handy documentation. I assume that even these functions don't work as expected, and because of that, I embedded "Sensitivity" and "Lookback Time" options in the indicator as a workaround.
Feel free to use it and send me your comments/solutions.
Support Resistance MTFHello Traders,
This is Support Resistance script that uses Multi Time Frame. While getting Close/Open/High/Low values of Higher Time Frames the script does NOT use Security function , instead it calculates them.
while choosing Higher Time Frame, you can use "Auto" option so it uses predefined Higher Time Frames, or you can choose the Higher Time Frame Manually from the list. options for HTF => 15mins, 30mins, 60mins, 120mins, 180mins, 240mins, 720mins, Day, Week, 2 Weeks, Months, 3 Months, 6 Months, 12 Months.
You have option to use High/Low or Close/Open values while calculating support resistance levels.
"Period for Highest/Lowest Bars" option is used as loopback period to check if it's Highest/lowest bars. smaller numbers = more sensitive result.
You have option for transparency and coloring of support/resistance levels/zone => Red, Lime, Blue, White, Black, Olive, Gray
An example for 15 min chart, 4hours selected as HTF
You can set transparency and colors as you wish:
You can choose Close/Open prices while calculating S/R levels instead of High/Low
Enjoy!
[PX] Session LevelHello guys,
this scripts prints the high and low as well as the moving average of a user-defined session.
How does it work?
Basically, as soon as we are in the session range, the indicator will constantly keep track of the high and the low of this range. It also prints the moving average, which can either be a floating or a static line, that represents the latest MA value.
The indicator comes with multiple options to style the printed lines.
If you find this indicator useful, please leave a "like" and hit that "follow" button :)
Have fun and happy trading :)))
P.S: Check my signature if you want to get in touch with me.
