LonesomeTheBlue

Support Resistance MTF

Hello 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!
Versionshinweise: "Extend Lines" option added. (user request)
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?
If you find my works useful, please consider a donation
BTC: 19qDW9AShZhBZsGuXcgRzam5Fbpc3EU8EV
ETH: 0x39c8552371b9b7f4e324197af460ba8bc8e18ef9

Kommentare

500Coins
+1 Antworten
@PineCoders, Thank you!
Antworten
Another Home Run LTB =)
Tested it out real quick and it seems to be the best S/R script written to date. As a person who uses price action pretty heavily, this definitely finds the right levels. I recommend users make the length a little longer. Depending on your typical hold period. For me, a length 50 seemed to hit the levels that I am interested in.
+26 Antworten
@kurtsmock, thank you for this great comment
+5 Antworten
@kurtsmock, Yes, thank you for suggestion ^^
+2 Antworten
JosephTran4 kurtsmock
@kurtsmock, is that the "period" function that you are referring to? What does 50 mean if you input it in there? I'm not sure what "loopback period" means.
+3 Antworten
kurtsmock JosephTran4
@JosephTran4, Yes, in the settings its "Period for Highest/Lowest Bars" It is how far back the script identifies the highest and lowest bars, which is on lines 36 & 37
+2 Antworten
@kurtsmock, can you plz let us know which timeframe worked for you and best way to use. I'm lookin for intraday. I just started trading recently with very small quantity.
+3 Antworten
This publication will be featured in our "Best Scripts of The Month" selection. Thank you for your valuable contribution to the TradingView community, and congrats!
+16 Antworten
@PineCoders, Thanks ;)
+3 Antworten
Startseite Aktien-Screener Forex-Screener Krypto-Screener Wirtschaftskalender Über Chartmerkmale Preise Einen Freund empfehlen Hausregeln Hilfe Center Webseite & Brokerlösungen Widgets Charting Lösungen Lightweight Charting Library Blog & News Twitter
Profil Profileinstellungen Konto und Abrechnung Angeworbene Freunde Coins Meine Support Tickets Hilfe Center Private Nachrichten Chat Abmelden