OPEN-SOURCE SCRIPT
[PX] Lookback Level
Hey guys,
this indicator detects support and resistance level based on the number of times a level got tested in a certain range.
How does it work?
In the user input settings, you will be able to choose between two modes "Tested Level" and "Untested Level".
"Tested Level" will be detected by the number of times a certain low or high got tested in the "Lookback"-range, while fitting in the "Deviation"-range of the specific high or low. A crossing of the level is allowed. The "Untested Level" work the same way, but crossings of the level will eliminate it.
The indicator is highly dependent on which input you will use. Please play around with the settings and see how it works on different timeframes and symbols.
As always, it comes with styling options for the levels.
If some of you find it useful, please leave a like and hit the follow button :)
Happy trading,
paaax
this indicator detects support and resistance level based on the number of times a level got tested in a certain range.
How does it work?
In the user input settings, you will be able to choose between two modes "Tested Level" and "Untested Level".
"Tested Level" will be detected by the number of times a certain low or high got tested in the "Lookback"-range, while fitting in the "Deviation"-range of the specific high or low. A crossing of the level is allowed. The "Untested Level" work the same way, but crossings of the level will eliminate it.
The indicator is highly dependent on which input you will use. Please play around with the settings and see how it works on different timeframes and symbols.
As always, it comes with styling options for the levels.
If some of you find it useful, please leave a like and hit the follow button :)
Happy trading,
paaax
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.
Möchten Sie dieses Skript auf einem Chart verwenden?
🙋♂️Listed as "Trusted Pine Programmer for Hire"
💰Save $30 on your Tradingview subscription: bit.ly/3OtLyNz
🔓Indicator access: dize-trading.de/
🔒Trial access: discord.gg/DqwKjBZ8Qe
💰Save $30 on your Tradingview subscription: bit.ly/3OtLyNz
🔓Indicator access: dize-trading.de/
🔒Trial access: discord.gg/DqwKjBZ8Qe
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.