Support Resistance - Dynamic

This is Dynamic Support / Resistance script.

How it Works?

It finds Pivot Points and creates channels for each Pivot Point. Channel size is calculated by (Highest - Lowest) * %Channel_size in Loopback Period. After creating channels it calculates that how many Pivot Points in the channels. more Pivot Points in channel means stronger Support/Resistance. in the option menu there is S/R Strength, this is the minimum number of Pivot Points that each channel must contain to be S/R. calculation starts from last pivot point and go back for "loopback period" which is 300 by default. so last Pivot Points have more priority. Finally after calculating Support/Resistance it draws lines.

Number of Support/Resistance line is Dynamic and up to 20 lines, that means number of lines changes dynamically. you can see how the script puts Suppport/Resistance lines dynamically by "Replay" button. (if I have time I will try to put a video)

Currently the scripts checks up to 40 pivot points in loopback period. it shows up to 20 S/Rs only for visible area in the chart.

There is option to Show S/R lines as Solid, Dotted or Dashed.

Enjoy!

Note di rilascio

Add LineColor option. Blue, Red, Lime, White, Black color can be selected as line color.

Note di rilascio

Default value of "Loopback Period" was changed to 284 to show lines automatically (visible area). Thanks to @mikhail7447

Note di rilascio

minor update.

Note di rilascio

Line coloring option updated. no limitation now. (users request)

Note di rilascio

Arrays are used instead of lots of individual variables
- "Support Broken" and "Resistance Broken" alert added. in the alert messages you can see the closing price and broken S/R levels.
- a few minor improvements.
- "Label location" option added. you can change location of the labels now.
-- if you set it 0 then labels appears on the last bar
-- if you set it + numbers then labels appears on the future bars
-- if you set it - numbers then labels appears on the historical bars
by default Label location is 20 (+20 => future bars)

for example if you set it -50 then labels shown on last 50. bar

Enjoy!

Note di rilascio

Fixed Pivot High/Low labels.

Script open-source

In pieno spirito TradingView, il creatore di questo script lo ha reso open-source, in modo che i trader possano esaminarlo e verificarne la funzionalità. Complimenti all'autore! Sebbene sia possibile utilizzarlo gratuitamente, ricorda che la ripubblicazione del codice è soggetta al nostro Regolamento.

Per un accesso rapido a un grafico, aggiungi questo script ai tuoi preferiti: per saperne di più clicca qui.

LonesomeTheBlue

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