TrEx S/R Levels [ETPINVEST]

20 ore fa

TrEx S/R Levels - User Guide
🎯 WHAT IS THIS INDICATOR?
TrEx S/R Levels is a professional indicator for automatically building support and resistance levels based on algorithmic analysis of price extremes.

🔍 WHAT IS IT USED FOR?
Main tasks:

• Key level identification - automatic search for significant support and resistance levels based on extremes
  
• Entry and exit planning - using levels for order placement
  
• Movement strength analysis - evaluating the probability of breakout or bounce from a level considering the number of touches
  
• Risk management - displaying level values and % movement to levels from current price for calculating stop-losses and take-profits
  

Who is it suitable for:

• 📈 Swing traders - for medium-term trading
  
• ⚡ Day traders - for intraday trades
  
• 🎯 Scalpers - for precise entries on lower timeframes
  
• 📊 Analysts - for technical market analysis
  

⚙️ HOW DOES THE ALGORITHM WORK?
1. Extreme search
The indicator uses a complex algorithm to find significant highs and lows through strictly defined candle combinations forming extremes.

• Validation - verification of compliance with strict mathematical conditions
  

2. Level construction
Based on found extremes, verification of compliance with strict mathematical conditions is performed with a slight bias in priority to recent extremes to clarify level relevance.

• Resistance levels (red) - from upper extremes
  
• Support levels (green) - from lower extremes
  
• Precise positioning - priority-based shifting on extremes
  

3. Smart clustering
Closely positioned levels are automatically merged:

• Smart merging - using ATR to determine proximity
  
• Weighted averaging - considering the strength of each level
  
• Touch counting - accumulating significance of merged levels
  

🛠️ DETAILED SETTINGS DESCRIPTION
📊 Support/Resistance Levels
Support Color / Resistance Color

• Purpose: Colors of support and resistance level lines
  
• Default: Green for support, red for resistance
  

Level Width

• Range: 1-5 pixels
  
• Default: 1
  
• Purpose: Thickness of level lines
  

Level Style

• Options: Solid, Dashed, Dotted
  
• Default: Solid
  
• Purpose: Display style of level lines
  

Clustering Multiplier

• Range: 0.1 - 2.0
  
• Default: 0.7
  
• Purpose: Coefficient for merging close levels through ATR
  
• How it works:
  
  
• 0.1-0.5 - strict merging (only very close levels)
  
• 0.6-1.0 - moderate merging (recommended)
  
• 1.1-2.0 - soft merging (may be too aggressive)
  

Analysis Depth

• Range: 50-300 bars
  
• Default: 200
  
• Purpose: Depth of historical analysis for extreme search for level construction
  

Show Level Info

• Default: Enabled
  
• Purpose: Display of informational labels
  
• Label content: Touches | Price | Distance%
  
• Example: 3 | 1.2567 | 2.1%
  

📈 PRACTICAL USAGE TIPS
🎯 Trading strategies
1. Trading from levels
✅ Buy signal:

• Price approaches support level (green line)
  
• Reversal pattern forms (e.g., double bottom or hammer)
  
• Volume increases on bounce
  

✅ Sell signal:

• Price approaches resistance level (red line)
  
• Reversal pattern forms (e.g., double top)
  
• Volume increases on bounce
  

2. Breakout trading
✅ Buy signal:

• Resistance level breakout with high volume
  
• Price consolidation above the level
  
• Retest of broken level as support
  

✅ Sell signal:

• Support level breakout with high volume
  
• Price consolidation below the level
  
• Retest of broken level as resistance
  

💡 Settings optimization
For scalping (M1-M5):

• Analysis Depth: 100-150
  
• Clustering Multiplier: 0.5-0.7
  
• Level Width: 1-2
  

For day trading (M15-H1):

• Analysis Depth: 150-200
  
• Clustering Multiplier: 0.6-0.8
  
• Level Width: 2-3
  

For swing trading (H4-D1):

• Analysis Depth: 200-300
  
• Clustering Multiplier: 0.7-1.0
  
• Level Width: 2-4
  

⚠️ IMPORTANT FEATURES
✅ Advantages:

• Automation - no manual level construction required
  
• Accuracy - uses complex mathematical algorithms
  
• Adaptability - adjusts to any asset and timeframe
  
• Informativeness - shows the strength of each level
  

⚠️ Limitations:

• Requires history - needs minimum 50 bars for correct operation
  

🎯 CONCLUSION
TrEx S/R Levels is a powerful tool for automatic analysis of support and resistance levels. The indicator is suitable for traders of any level and can significantly simplify the technical analysis process.

16 ore fa

Note di rilascio

Fixed the analysis depth — it was 150, now it's 300.
Исправил глубину анализа, было 150, стало 300.