Dynamic S/R Zones (Verified Pivots)

Dynamic S/R Zones (Verified Pivots)

Overview

Dynamic S/R Zones is a Pine Script v6 indicator for TradingView that draws support/resistance (S/R) zones and Fibonacci retracement levels from verified pivot points. It plots minor S/R on the current timeframe and major S/R from a user-selected higher timeframe. Optional verification logic colors Fibonacci levels when price action or a trend filter aligns. The tool is intended for chart study and annotation.

How It Works

Pivots → S/R: Minor levels come from ta.pivothigh/ta.pivotlow on the chart’s timeframe. Major levels use request.security(lookahead=barmerge.lookahead_off) to read higher-timeframe data without lookahead. A distance buffer deduplicates nearby levels.

Labels & Coloring: Each level is shown as support or resistance based on the bar’s close relative to the level. When enabled, coloring reflects which side of the level price is on.

Fibonacci (33%, 50%, 66%): Fibs are drawn between the most recent verified swing high/low pair. No real-time/unverified pivots are used.

Verification Modes (optional):

Bounce/Reject: A level is marked “verified” when a bar closes at/above (bounce) or at/below (rejection) that level.

Trend-Based: Levels are marked when price closes through the level in the direction of either the most recent swing (pivot-based) or an HTF EMA filter (default: 21/50 EMAs on a user-set HTF).

When a level becomes verified, its color updates and a small arrow can be plotted at the bar where verification occurred.

Key Features

• Minor (current TF) and major (HTF) S/R from verified pivots.
• Optional Fibonacci 33% / 50% / 66% retracements from the latest verified swing.
• Two optional verification styles: bounce/rejection or trend-based (pivot or HTF EMA).
• Side-of-level coloring and compact labels for quick context.
• Adjustable pivot strength, lookback range, HTF selection, colors, and visibility.

What It Displays

The indicator visualizes pivot-derived S/R levels, optional Fibonacci retracements, and—when enabled—verification marks that indicate where price action or trend criteria aligned with a level. It’s designed to help document areas of interest on charts across assets and timeframes.

No-Repaint Notes

• Uses verified pivots only (no real-time/unconfirmed pivots).
• HTF series are requested with lookahead off.
• Verification occurs on bar close conditions.

Originality

Original Pine v6 implementation using TradingView built-ins: ta.pivothigh, ta.pivotlow, ta.ema, and request.security.

Configuration Notes

Set Pivot Strength (e.g., 5), Lookback Range (e.g., 300), and choose an HTF (e.g., Daily) for major S/R. Enable Fibonacci and choose a Verification Mode (bounce/reject or HTF trend-based). Toggle arrows/labels and adjust colors to fit your chart style.

Legal Disclaimer

This indicator is for informational and educational purposes only and does not constitute investment, financial, or trading advice. Markets involve risk, and past results do not guarantee future outcomes. Provided “as is” without warranties. Consider consulting a qualified professional before making decisions.