OPEN-SOURCE SCRIPT
Aktualisiert Support and Resistance Levels [racer8]
One of the oldest concepts in trading. It's here guys. Drum roll please. Support & resistance baby! 🤣
So many requests from so many people asking me to build this. Finally. It is here guys 😀 Support and Resistance is here by racer8!
Indeed, S&R is used by so many traders. It is often one of the first concepts a trader will learn. I myself, can attest to this.
So what is support and resistance? 🤔
Good question, S&R are certain price levels that are created when a peak or trough has formed. Many traders use these peaks/troughs and extend lines out from them to create support & resistance levels.
Support levels are extended out from troughs. Resistance levels from peaks.
It is often believed that price bounces between these levels due to some unknown mysterious force known as supply and demand. 🙀
If you're a reversal trader, your strategy would likely be trying to short whenever price reaches a resistance level and vice versa for support levels.
If you're a trend trader, your strategy would likely be trying to go long whenever price breaks a resistance level and vice versa for support levels.
This Indicator...
Has one setting that controls which levels are formed. Higher settings equals less levels formed, but more important ones. Don't set it too high or too low. There is an optimal setting. Setting it too high will result in very few levels and thus, too little opportunities to trade. Setting it too low means the indicator will give you insignificant levels..also bad idea. So try to find something optimal like 10 to 20 periods for instance. 👍
Enjoy and have a blast!😀
Peace, I'm out! 🙏 💥
So many requests from so many people asking me to build this. Finally. It is here guys 😀 Support and Resistance is here by racer8!
Indeed, S&R is used by so many traders. It is often one of the first concepts a trader will learn. I myself, can attest to this.
So what is support and resistance? 🤔
Good question, S&R are certain price levels that are created when a peak or trough has formed. Many traders use these peaks/troughs and extend lines out from them to create support & resistance levels.
Support levels are extended out from troughs. Resistance levels from peaks.
It is often believed that price bounces between these levels due to some unknown mysterious force known as supply and demand. 🙀
If you're a reversal trader, your strategy would likely be trying to short whenever price reaches a resistance level and vice versa for support levels.
If you're a trend trader, your strategy would likely be trying to go long whenever price breaks a resistance level and vice versa for support levels.
This Indicator...
Has one setting that controls which levels are formed. Higher settings equals less levels formed, but more important ones. Don't set it too high or too low. There is an optimal setting. Setting it too high will result in very few levels and thus, too little opportunities to trade. Setting it too low means the indicator will give you insignificant levels..also bad idea. So try to find something optimal like 10 to 20 periods for instance. 👍
Enjoy and have a blast!😀
Peace, I'm out! 🙏 💥
Versionshinweise
...To PineCoders & those reading:This S&R script adds value to the TV community and is unique because it has...
- simple easy to understand visuals (not cluttered with so many lines unlike some S&R scripts on TV)
- does not repaint (unlike some S&R scripts)
- allows users to see expansion & contraction phases much easier than most S&R scripts
- actually plots S&R levels (unlike some S&R scripts on TV)
- looks attractive :D
Open-source Skript
Ganz im Sinne von TradingView hat dieser Autor sein/ihr Script als Open-Source veröffentlicht. Auf diese Weise können nun auch andere Trader das Script rezensieren und die Funktionalität überprüfen. Vielen Dank an den Autor! Sie können das Script kostenlos verwenden, aber eine Wiederveröffentlichung des Codes unterliegt unseren Hausregeln.
Haftungsausschluss
Die Informationen und Veröffentlichungen sind nicht als Finanz-, Anlage-, Handels- oder andere Arten von Ratschlägen oder Empfehlungen gedacht, die von TradingView bereitgestellt oder gebilligt werden, und stellen diese nicht dar. Lesen Sie mehr in den Nutzungsbedingungen.
Open-source Skript
Ganz im Sinne von TradingView hat dieser Autor sein/ihr Script als Open-Source veröffentlicht. Auf diese Weise können nun auch andere Trader das Script rezensieren und die Funktionalität überprüfen. Vielen Dank an den Autor! Sie können das Script kostenlos verwenden, aber eine Wiederveröffentlichung des Codes unterliegt unseren Hausregeln.
Haftungsausschluss
Die Informationen und Veröffentlichungen sind nicht als Finanz-, Anlage-, Handels- oder andere Arten von Ratschlägen oder Empfehlungen gedacht, die von TradingView bereitgestellt oder gebilligt werden, und stellen diese nicht dar. Lesen Sie mehr in den Nutzungsbedingungen.