OPEN-SOURCE SCRIPT
XSRM
XSRM (XSRMulti) Indicator
Description:
The XSRM indicator is specifically designed for support and resistance analysis, enabling traders to identify swing points across multiple independent time intervals. It detects significant swing highs and lows within defined periods and plots them as key support and resistance levels on the chart.
Key Features:
Multi-Interval Swing Point Detection:
Identifies swing high and low points based on user-defined parameters (lookback period and offset).
Allows analysis across multiple independent ranges to locate critical support and resistance levels.
Customizable Parameters:
Configurable lookback periods, offsets, and depth for swing point detection.
Selectable price sources, including high/low, open, close, hl2, and hlc3.
Support and Resistance Visualization:
Plots swing high, swing low, and midpoints as lines on the chart.
Users can customize line colors, styles, and extensions for better readability.
Daily Percentage Change:
Displays daily price percentage change as a quick reference for market momentum.
How It Works:
The indicator analyzes price action over multiple user-defined timeframes to locate swing points.
Swing high and low levels are calculated using a depth parameter to ensure significant turning points are captured.
Midpoints are computed to highlight equilibrium zones between support and resistance levels.
Use Cases:
Identify strong support and resistance levels to refine entry and exit points.
Analyze swing points across different periods to understand market structure.
Combine with other indicators for confirmation and stronger trade setups.
Customization Options:
General Settings: Adjust lookback periods, offsets, and depth for swing analysis.
Optional Settings: Choose logarithmic or linear midpoint calculations, enable line extensions, and customize line colors.
Source Selection: Define the price source for swing point calculations (e.g., high/low, close).
Important Notes:
Ensure that the parameters are adjusted according to the asset and timeframe being analyzed.
The indicator is designed to work across various markets, including stocks, forex, and crypto.
This tool is ideal for traders focusing on support and resistance zones and those looking to enhance their technical analysis for more accurate trading decisions.
Description:
The XSRM indicator is specifically designed for support and resistance analysis, enabling traders to identify swing points across multiple independent time intervals. It detects significant swing highs and lows within defined periods and plots them as key support and resistance levels on the chart.
Key Features:
Multi-Interval Swing Point Detection:
Identifies swing high and low points based on user-defined parameters (lookback period and offset).
Allows analysis across multiple independent ranges to locate critical support and resistance levels.
Customizable Parameters:
Configurable lookback periods, offsets, and depth for swing point detection.
Selectable price sources, including high/low, open, close, hl2, and hlc3.
Support and Resistance Visualization:
Plots swing high, swing low, and midpoints as lines on the chart.
Users can customize line colors, styles, and extensions for better readability.
Daily Percentage Change:
Displays daily price percentage change as a quick reference for market momentum.
How It Works:
The indicator analyzes price action over multiple user-defined timeframes to locate swing points.
Swing high and low levels are calculated using a depth parameter to ensure significant turning points are captured.
Midpoints are computed to highlight equilibrium zones between support and resistance levels.
Use Cases:
Identify strong support and resistance levels to refine entry and exit points.
Analyze swing points across different periods to understand market structure.
Combine with other indicators for confirmation and stronger trade setups.
Customization Options:
General Settings: Adjust lookback periods, offsets, and depth for swing analysis.
Optional Settings: Choose logarithmic or linear midpoint calculations, enable line extensions, and customize line colors.
Source Selection: Define the price source for swing point calculations (e.g., high/low, close).
Important Notes:
Ensure that the parameters are adjusted according to the asset and timeframe being analyzed.
The indicator is designed to work across various markets, including stocks, forex, and crypto.
This tool is ideal for traders focusing on support and resistance zones and those looking to enhance their technical analysis for more accurate trading decisions.
Script open-source
In pieno spirito TradingView, l'autore di questo script lo ha pubblicato open-source, in modo che i trader possano comprenderlo e verificarlo. Un saluto all'autore! È possibile utilizzarlo gratuitamente, ma il riutilizzo di questo codice in una pubblicazione è regolato dal nostro Regolamento. Per aggiungerlo al grafico, mettilo tra i preferiti.
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Declinazione di responsabilità
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