Dynamic Relevant S/R (JJC)

vor 4 Stunden

Dynamic Relevant Support/Resistance (JJC) – TradingView Indicator

Version: Pine Script v6
Author: JJC

Overview

The Dynamic Relevant Support/Resistance (JJC) indicator identifies key support and resistance levels based on recent swing highs and lows and dynamically updates them on the chart. It also provides live % distance labels, VWAP visualization, and breakout/reversal signals, making it a comprehensive tool for intraday and swing traders.

Features

Dynamic Support & Resistance Levels

Detects swing highs and lows using a configurable “Swing Strength” (pivot length).

Maintains a maximum number of significant levels (user-defined).

Merges nearby levels to avoid clutter.

Customizable S/R Lines

Line color: red for resistance, green for support.

Line style: Solid, Dashed, or Dotted.

Line width adjustable.

Option to extend lines to the left and right.

Dynamic Price Labels

Labels display price + real-time % distance from current price.

Background color matches the corresponding line (red for resistance, green for support).

Text color is always white for maximum readability.

User-selectable label size: Tiny, Small, Normal, Large, Huge.

VWAP

Optionally plot VWAP for trend confirmation.

Volume Filter

Highlights high-volume periods via internal calculations.

Breakout & Reversal Signals

Breakout signals trigger when price approaches resistance with high volume and bullish momentum.

Reversal signals trigger when price approaches resistance with a long upper wick, high volume, and bearish momentum.

Signals are clearly plotted on the chart.

User Controls

Lookback period for swings.

Swing strength (pivot bars).

Maximum S/R levels.

Merge distance for nearby levels.

Distance % for proximity checks.

Label offset from the right edge.

Label size customization.

Show/hide VWAP, labels, and signals.

Why Use This Indicator

Quickly identify key support and resistance zones with precision.

Dynamic % labels help measure risk/reward and monitor proximity to levels.

Works with VWAP, volume, and price action signals to enhance trading decisions.

Highly customizable, making it suitable for day trading, swing trading, and multi-timeframe analysis.

Example Chart Display

Resistance: red lines with red background labels showing price + % above current price.

Support: green lines with green background labels showing price + % below current price.

VWAP line: blue.

Breakout labels: green “BREAKOUT” near lows.

Reversal labels: red “REVERSAL” near highs.

Inputs
Setting Default Description
Lookback Bars 500 Number of bars to look back for swing detection
Swing Strength 3 Number of bars for pivot high/low detection
Max S/R Levels 5 Maximum number of support/resistance levels to display
Price Distance to S/R (%) 0.5 Proximity for signals
Merge Nearby Levels (%) 0.3 Minimum % distance to merge levels
Volume MA Length 20 Period for moving average of volume
Reversal Wick Ratio 2.0 Wick-to-body ratio for reversal signals
Show VWAP true Toggle VWAP plot
Show Signals true Toggle breakout/reversal signals
Extend S/R Lines Left true Extend lines to left side of chart
Show S/R Price Labels true Toggle S/R labels
Label Offset 20 Bars from right for label placement
S/R Line Width 2 Line width for S/R levels
S/R Line Style Dashed Choose Solid, Dashed, Dotted
Label Text Size Tiny Choose Tiny, Small, Normal, Large, Huge
Use Case

Ideal for traders looking for dynamic support/resistance monitoring with real-time risk assessment, visual clarity, and integrated breakout/reversal signals.

vor 4 Stunden

Versionshinweise

Fixed Lookback Bars to look back more than 500

vor 4 Stunden

Versionshinweise

Removed signal logic - need to figure out a better way to show only relevant signals