Smart Triangles & S/R System

Overview This indicator is a comprehensive technical analysis tool designed to automatically identify dynamic chart patterns and institutional support/resistance structures. Its primary focus is on detecting valid Triangle Patterns (Symmetrical, Ascending, Descending) and identifying high-probability breakout zones using a proprietary "Smart Apex" algorithm.

Why is this script Protected? This script utilizes a unique, custom-built algorithm called "Smart Start & Apex Validation". Unlike standard pivot-based indicators, this system dynamically recalculates the starting points of trendlines to exclude false wicks and noise (Smart Start). Furthermore, it employs a geometric validation logic that calculates the exact intersection point (Apex) of the trendlines to ensure the triangle exists in the future and has not already invalidated itself mathematically. Due to the complex and proprietary nature of these calculation methods and the specific filtering logic for "Fresh" vs. "Broken" horizontal levels, the source code is protected to maintain the integrity of the strategy.

Key Features

Smart Triangle Detection:

Uses Pivot Highs/Lows to draw trendlines.

Smart Start Logic: Automatically shifts the trendline start point if a candle body violates the slope, ensuring lines "hug" the price action correctly.

Apex Validation: Ensures lines are converging and the intersection point is valid.

Institutional S/R Levels:

Automatically plots horizontal Support and Resistance levels based on historical pivot clusters.

Distinguishes between Fresh Levels (Untouched) and Broken Levels (flipped S/R), color-coded for visual clarity.

Dynamic Targets:

Projects breakout targets based on the triangle's opening height (Base).

Target Memory: Once a breakout occurs, the target remains fixed on the chart until a completely new pattern invalidates it, allowing traders to track the trade lifecycle.

How to Use

Trendlines: Look for price compression between the Red (Resistance) and Green (Support) dotted lines.

Breakouts: Wait for a candle close outside the triangle structure. The indicator will generate a "Target Flag" indicating the potential price objective.

Confluence: Use the horizontal S/R lines as confirmation for entry or stop-loss placement.

Settings

Triangles: Adjust pivot lengths to catch larger or smaller structures. Toggle "Smart Start" for cleaner lines.

Slope Rules: Filter out weak patterns by enforcing minimum slope requirements.

S/R Zones: Customize the lookback period and visibility of horizontal levels.

Development & Feedback I am actively developing this tool to make it the definitive structure indicator. I highly value community feedback. Please leave your suggestions or feature requests in the comments section below. I read all feedback to improve future versions.

Disclaimer: This tool is for educational purposes and assists in technical analysis. Past performance is not indicative of future results.