OPEN-SOURCE SCRIPT

Automatic Support & Resistance

Aktualisiert
The indicator attempts at automatic detection of support and resistance levels by identifying large swings/pivots in historical price action. These tops and bottoms in price action show where lots of buyers or sellers came into the market and might act as future levels of support or resistance. By default, the code detects the last 3 significant swing highs and the last 3 swing lows. It then places lines on the chart to highlight those levels.

Once you are comfortable with the code base and how the indicator operates, you may wish to expand upon it. One obvious addition to make would be inputs for the "Left Bars", "Right Bars" and "Quick Right" variables so that you can tune the indicator according to your own taste.

Feel free to tweak the code and let everyone know in the comment section if you are able to improvise it.

Happy trading:-)
Versionshinweise
This is an updated version of existing "Automatic Support & Resistance"

This version will allow you to draw Automatic S/R levels based on "Close values" or "High/Low values"

I personally find S/R levels with "Close values" to be are more precise and effective while trading breakouts, hence the need for the update.

Please let me know your thoughts in the comments section below.
Versionshinweise
Publishing version 0.2 with the correct display chart
Versionshinweise
Correcting some mistakes. Apologies for that :)
resistencesupportSupport and Resistance

Open-source Skript

Ganz im Sinne von TradingView hat dieser Autor sein/ihr Script als Open-Source veröffentlicht. Auf diese Weise können nun das Script auch andere Trader verstehen und prüfen. Vielen Dank an den Autor! Sie können das Script kostenlos verwenden. Die Nutzung dieses Codes in einer Veröffentlichung wird in unseren Hausregeln reguliert. Sie können es als Favoriten auswählen, um es in einem Chart zu verwenden.

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