PROTECTED SOURCE SCRIPT
Support and Resistance with SL and Trend
Overview:
This script builds a complete chart overlay using dynamic pivot-based Support/Resistance zones, adaptive to market volatility. It incorporates SL estimation, visual trade context cues, and trendline structure—all derived from a smart ATR-normalized engine. Ideal for discretionary traders who want structural confluence, rapid proximity alerts, and volatility-aware S/R levels.
Core Components:
> 1. Volatility-Normalized Pivot Detection: The script computes pivot highs/lows using an adaptive strength mechanism, which scales dynamically based on ATR fluctuations. This ensures S/R levels are responsive to shifting volatility regimes, rather than being fixed or rigid.
> 2. Horizontal S/R Line Generation: Pivot highs form resistance zones (Red), while pivot lows map support zones (Green). Lines can be extended or set to expire after a fixed bar duration for clean charting.
> 3. SL Labeling (Structure-Based): Each S/R level is labeled with a corresponding “Sell SL” or “Buy SL”, computed using the extreme structure from the previous 10 bars. This provides a fast visual cue for risk management placement.
> 4. Proximity Highlighting: When price comes within a % threshold (user-defined) of any active S/R level, triangle markers appear—Red near Resistance, Green near Support. These cues reduce screen-watching and help time entries.
> 5. Trendline Projection from Pivot Pairs: Dashed trendlines connect the two most recent swing highs and swing lows respectively, offering additional structure awareness—perfect for spotting compression zones, flags, and swing breaks.
Configuration & Usage Guide:
> 🛠 Inputs You Can Adjust:
Base Swing Strength: Controls how "wide" the pivots are
ATR Sensitivity: Amplifies or softens the impact of volatility on pivot strength
Proximity %: Sets how close price must be to trigger the triangle markers
Extend Lines: Whether S/R lines extend infinitely right or expire after set bars
How to Use It:
Add to chart and configure settings to match your trading style (scalping = higher sensitivity).
Watch for price nearing plotted zones. Triangle markers appear when proximity criteria are met.
Use the SL labels below/above the zones to anchor stop placement relative to structure.
Observe dashed trendlines to define the current local range or trend structure.
Ideal For:
Scalpers wanting S/R zones with trigger cues
Swing traders needing volatility-adaptive structure
Manual traders seeking precise stop placement and trend context
Those who dislike repainting and want structure-driven logic
This script builds a complete chart overlay using dynamic pivot-based Support/Resistance zones, adaptive to market volatility. It incorporates SL estimation, visual trade context cues, and trendline structure—all derived from a smart ATR-normalized engine. Ideal for discretionary traders who want structural confluence, rapid proximity alerts, and volatility-aware S/R levels.
Core Components:
> 1. Volatility-Normalized Pivot Detection: The script computes pivot highs/lows using an adaptive strength mechanism, which scales dynamically based on ATR fluctuations. This ensures S/R levels are responsive to shifting volatility regimes, rather than being fixed or rigid.
> 2. Horizontal S/R Line Generation: Pivot highs form resistance zones (Red), while pivot lows map support zones (Green). Lines can be extended or set to expire after a fixed bar duration for clean charting.
> 3. SL Labeling (Structure-Based): Each S/R level is labeled with a corresponding “Sell SL” or “Buy SL”, computed using the extreme structure from the previous 10 bars. This provides a fast visual cue for risk management placement.
> 4. Proximity Highlighting: When price comes within a % threshold (user-defined) of any active S/R level, triangle markers appear—Red near Resistance, Green near Support. These cues reduce screen-watching and help time entries.
> 5. Trendline Projection from Pivot Pairs: Dashed trendlines connect the two most recent swing highs and swing lows respectively, offering additional structure awareness—perfect for spotting compression zones, flags, and swing breaks.
Configuration & Usage Guide:
> 🛠 Inputs You Can Adjust:
Base Swing Strength: Controls how "wide" the pivots are
ATR Sensitivity: Amplifies or softens the impact of volatility on pivot strength
Proximity %: Sets how close price must be to trigger the triangle markers
Extend Lines: Whether S/R lines extend infinitely right or expire after set bars
How to Use It:
Add to chart and configure settings to match your trading style (scalping = higher sensitivity).
Watch for price nearing plotted zones. Triangle markers appear when proximity criteria are met.
Use the SL labels below/above the zones to anchor stop placement relative to structure.
Observe dashed trendlines to define the current local range or trend structure.
Ideal For:
Scalpers wanting S/R zones with trigger cues
Swing traders needing volatility-adaptive structure
Manual traders seeking precise stop placement and trend context
Those who dislike repainting and want structure-driven logic
Script protetto
Questo script è pubblicato come codice protetto. Tuttavia, è possibile utilizzarlo liberamente e senza alcuna limitazione – per saperne di più clicca qui.
Declinazione di responsabilità
Le informazioni ed i contenuti pubblicati non costituiscono in alcun modo una sollecitazione ad investire o ad operare nei mercati finanziari. Non sono inoltre fornite o supportate da TradingView. Maggiori dettagli nelle Condizioni d'uso.
Script protetto
Questo script è pubblicato come codice protetto. Tuttavia, è possibile utilizzarlo liberamente e senza alcuna limitazione – per saperne di più clicca qui.
Declinazione di responsabilità
Le informazioni ed i contenuti pubblicati non costituiscono in alcun modo una sollecitazione ad investire o ad operare nei mercati finanziari. Non sono inoltre fornite o supportate da TradingView. Maggiori dettagli nelle Condizioni d'uso.