kaleboraciy

Support & Ressistance by @kaleboraciy

█ OVERVIEW

Support & Resistance levels are important in trading as we all know.

█ WARNING

This version is beta, maybe sometimes it will plot wrong levels, but i will try to to eliminate these issues. And please note, that you should find your own ideal settings for every ticker you use.

█ FEATURES

This is the first script in Pine Community which plots levels using the last two points/ pivots /fractals.
It also stops plotting levels when there is a breakout on the particular level.

█ SETTINGS

  • 1. Pivot Points Length - defines pivot points length. Using to find points where market is reversed. If you set lower value, there will be more points but less useful. As I said you should find your optimal parameters.

  • 2. Inaccuracy in % - defines maximal possible inaccuracy between 2 pivot points .

  • 3. Linewidth - width of line(level)

  • 4. Start Calculations from - if you use low timeframe (1m - 30m) there are a lot of calculations, and PineScript can't process it. This parameter defines start date of calculations and now there are less data and Pine can process it better.

█ HOW IT WORKS

When a new pivot appears, it draws invisible line starting in this pivot . when the second pivots gets created, it checks all lines in array. When inaccuracy is smaller than defined, the line becomes visible.

If price breaks trough the pivots , the lines stop and a new cycle begins.

I hope that this script will be helpful in your trading🙂
Versionshinweise:
  • Added alerts
  • Option to continuing broken levels

WARNING! If you have "the study references too many candles in history" error you should choose later date in setting.
Open-source Skript

Ganz im Sinne von TradingView hat der Autor dieses Skripts es als Open-Source veröffentlicht, damit Trader es verstehen und überprüfen können. Ein Hoch auf den Autor! Sie können es kostenlos verwenden, aber die Wiederverwendung dieses Codes in einer Publikation unterliegt den Hausregeln. Sie können das Skript den Favoriten hinzufügen, um es auf dem Chart zu verwenden.

Möchten Sie dieses Skript auf einem Chart verwenden?

Kommentare

500 Coins
+10 Antworten
500 Coins
+3 Antworten
Great script. Thanks
200 Coins
+1 Antworten
Great Script. I would like to thank you for the script. But when the price is breaking support or resistance,accordingly auto color change would be a really nice addition if possible.
+25 Antworten
XperiaForex pramaniksumit1
Antworten
MoreCrazy pramaniksumit1
Antworten
How do I enable the alert? After the update, they are not displayed for me. Maybe you should choose a different time frame?
+16 Antworten
masklyap nikoletosr
@nikoletosr, I also didn't get any alerts...
+4 Antworten
kaleboraciy masklyap
@masklyap, @nikoletosr https://prnt.sc/13dsa33
if you don't have this option delete script from chart and add again
+1 Antworten
I might've found a bug.
On the Bitcoin chart, 15m intervals give an error saying "the study references too many candles in history", but 5m, 10m, 30m etc. work fine.
https://i.imgur.com/9XIuAyH.gif
+7 Antworten