LuxAlgo

Support and Resistance Levels with Breaks

This script provides basic pivot point Support and Resistance Levels to the user whilst displaying Break signal tags. It also has the ability to let the user display more significant breaks by filtering using the Volume Oscillator.

Only more significant breaks of these basic levels are displayed to the user when optimized which avoids noise and messy signals.

It will also display breaks with candles it deems to be bullish (e.g. having a longer upper or lower wick).

Notation

The notation of "B" denotes a break of either a Support or Resistance level with a volume greater than the threshold.
The notation of "Bull or Bear Wick" denotes a bullish or bearish candle on the break.

Settings:

Left Bars - the number of bars left hand side of the pivot .
Right Bars - the number of bars right hand side of the pivot .
Volume Threshold - the threshold value (%) for the Volume Oscillator.

Usage & Details:
Knowing when a pivot S/R level is broken with significance can be of great help to a trader. Many times significant levels may not be broken with significant force and the move is therefore weaker and possibly not worth trading.
Versionshinweise: Copyright update
Versionshinweise: Minor Changes.
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?
Our Website to get access to our invite-only scripts: https://LuxAlgo.com

Lux Algo Documentation: https://docs.luxalgo.com

Join our Discord Group: https://discord.gg/LUX

Kommentare

What’s the best setting for 5min?
+57 Antworten
naba_naif tsykes3
@tsykes3, if u know tell us pls
+1 Antworten
Many thanks LUX
+6 Antworten
LuxAlgo bobber70
@bobber70, Cheers!
+2 Antworten
Many thanks LuxAlgo team. Great people and excellent tools.
+4 Antworten
LuxAlgo RiskRewardGames
@RiskRewardGames, You are very welcome and thanks for all of your support, enjoy! ❤️
+3 Antworten
knower80 LuxAlgo
@LuxAlgo, how do we get the old s/r ?
Antworten
LuxAlgo knower80
@knower80, This is the old S/R from our main invite-only script with some extra features.
Antworten
Thank you very much LuxAlgo .
How I can see an alert when any Support or Resistance broken?
+3 Antworten
is that free script or for premium subscribers only?
+3 Antworten
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