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Auto Support Resistance Channels [TradingFinder] Top/Down Signal🔵 Introduction In technical analysis, a price channel is one of the most widely used tools for identifying and tracking price trends. A price channel consists of two parallel trendlines, typically drawn from swing highs (resistance) and swing lows (support). These lines define dynamic support and resistance zones and provide a clear framework for interpreting price fluctuations. Drawing a channel on a price chart allows the analyst to more precisely identify entry points, exit levels, take-profit zones, and stop-loss areas based on how the price behaves within the boundaries of the channel. Price channels in technical analysis are generally categorized into three types: upward channels with a positive slope, downward channels with a negative slope, and horizontal (range-bound) channels with near-zero slope. Each type offers unique insights into market behavior depending on the price structure and prevailing trend. Structurally, channels can be formed using either minor or major pivot points. A major channel typically reflects a stronger, more reliable structure that appears on higher timeframes, whereas a minor channel often captures short-term fluctuations or corrective movements within a larger trend. For instance, a major downward channel may indicate sustained selling pressure across the market, while a minor upward channel could represent a temporary pullback within a broader bearish trend. The validity of a price channel depends on several factors, including the number of price touches on the channel lines, the symmetry and parallelism of the trendlines, the duration of price movement within the channel, and price behavior around the median line. When a price channel is broken, it is generally expected that the price will move in the breakout direction by at least the width of the channel. This makes price channels especially useful in breakout analysis. In the following sections, we will explore the different types of price channels, how to draw them accurately, the structural differences between minor and major channels, and key trade interpretations when price interacts with channel boundaries. Up Channel : Down Channel : 🔵 How to Use A price channel is a practical tool in technical analysis for identifying areas of support, resistance, trend direction, and potential breakout zones. The structure consists of two parallel trendlines within which price fluctuates. Traders use the relative position of price within the channel to make informed trading decisions. The two primary strategies include range-based trades (buying low, selling high) and breakout trades (entering when price exits the channel). 🟣 Up Channel In an upward channel, price moves within a positively sloped range. The lower trendline acts as dynamic support, while the upper trendline serves as dynamic resistance. A common strategy involves buying near the lower support and taking profit or selling near the upper resistance. If price breaks below the lower trendline with strong volume or a decisive candle, it can signal a potential trend reversal. Channels constructed from major pivots generally reflect dominant uptrends, while those based on minor pivots are often corrective structures within a broader bearish movement. 🟣 Down Channel In a downward channel, price moves between two negatively sloped lines. The upper trendline functions as resistance, and the lower trendline as support. Ideal entry for short trades occurs near the upper boundary, especially when confirmed by bearish price action or a resistance level. Exit targets are typically located near the lower support. If the upper boundary is broken to the upside, it may be an early sign of a bullish trend reversal. Like upward channels, a major down channel represents broader selling pressure, while a minor one may indicate a brief retracement in a bullish move. 🟣 Range Channel A horizontal or range-bound channel is characterized by price oscillating between two nearly flat lines. This type of channel typically appears during sideways markets or periods of consolidation. Traders often buy near the lower boundary and sell near the upper boundary to take advantage of contained volatility. However, fake breakouts are more frequent in range-bound structures, so it is important to wait for confirmation through candlestick signals and volume. A confirmed breakout beyond the channel boundaries can justify entering a trade in the direction of the breakout. 🔵 Settings Pivot Period :This parameter defines how sensitive the channel detection is. A higher value causes the algorithm to identify major pivot points, resulting in broader and longer-term channels. Lower values focus on minor pivots and create tighter, short-term channels. 🔔 Alerts Alert Configuration : Enable or disable the full alert system Set a custom alert name Choose the alert frequency: every time, once per bar, or on bar close Define the time zone for alert timestamps (e.g., UTC) Channel Alert Types : Each channel type (Major/Minor, Internal/External, Up/Down) supports two alert types : Break Alert : Triggered when price breaks above or below the channel boundaries React Alert : Triggered when price touches and reacts (bounces) off the channel boundary 🎨 Display Settings For each of the eight channel types, you can customize: Visibility : show or hide the channel Auto-delete previous channels when new ones are drawn Style : line color, thickness, type (solid, dashed, dotted), extension (right only, both sides) 🔵 Conclusion The price channel is a foundational structure in technical analysis that enables traders to analyze price movement, identify dynamic support and resistance zones, and locate potential entry and exit points with greater precision. When constructed properly using minor or major pivots, a price channel offers a consistent and intuitive framework for interpreting market behavior—often simpler and more visually clear than many other technical tools. Understanding the differences between upward, downward, and range-bound channels—as well as recognizing the distinctions between minor and major structures—is critical for selecting the right trading strategy. Upward channels tend to generate buying opportunities, downward channels prioritize short setups, and horizontal channels provide setups for both mean-reversion and breakout trades. Ultimately, the reliability of a price channel depends on various factors such as the number of touchpoints, the duration of the channel, the parallelism of the lines, and how the price reacts to the median line. By taking these factors into account, an experienced analyst can effectively use price channels as a powerful tool for trend forecasting and precise trade execution. Although conceptually simple, successful application of price channels requires practice, pattern recognition, and the ability to filter out market noise.
Indicatore Pine Script®
di TFlab
1
Support and Resistance (High Volume Boxes) [ChartPrime]Support and Resistance (High Volume Boxes) ◆ Overview: The "Support and Resistance" indicator identifies key support and resistance levels using pivot points and volume analysis. It visually represents these levels with dynamically colored boxes, indicating the strength of the volume. This helps traders recognize potential price reversals and key zones for buy and sell opportunities. ◆ Key Features: Dynamic Support and Resistance Boxes: The indicator plots support and resistance boxes based on pivot points and volume above threshold for positive volume boxes and below lower threshold for negative volume boxes. Box colors change from transparent to more intense based on volume, reflecting the strength of support or resistance. Boxes expands until a new box of the same type appears. Volume-Based Color Coding: Boxes are color-coded based on the amount of volume: Green boxes indicate support levels with positive volume. Red boxes indicate resistance levels with negative volume. Hold Signals: Green diamonds (◆) indicate when support holds, signaling potential buy opportunities. Red diamonds (◆) indicate when resistance holds, signaling potential sell opportunities. Breakout Labels: If the price falls below a support level, that level will become resistance. If the price rises above a resistance level, it will often become support. As the price moves past a level of support or resistance, it is thought that supply and demand has shifted, causing the breached level to reverse its role. Labels "Break Sup" and "Break Res" are displayed when support or resistance levels are broken, indicating significant market movements. ◆ Break Resistance: ◆Break Support: ◆ Usage Notes: This indicator helps traders identify strong support and resistance levels, offering visual cues for potential price reversals. By analyzing volume at these levels, traders can gauge the strength of these zones and make more informed trading decisions. ◆ Settings: Lookback Period: The number of bars to look back for pivot points. Delta Volume Filter Length: The length of the volume filter for more accurate volume analysis. (Higher input, will filter low volume boxes) Adjust Box Width: Adjusts the width of the support and resistance boxes. This indicator is designed to enhance your trading by providing clear visual cues for support and resistance levels based on volume, making it easier to spot potential price reversals and key trading opportunities.
Indicatore Pine Script®
di ChartPrime
63
Ghost Tangent Crossings [ChartPrime]Ghost Tangent Crossings (ChartPrime) is a revolutionary way to visualize pivot points and zig-zag patterns that utilizes ellipses. This indicator makes sure that each pivot is plotted from high to low, ensuring a correct zig-zag wave pattern. Before a zig-zag is confirmed Ghost Tangent Crossings (ChartPrime) plots an estimate of the next valid move allowing you to plan well ahead of time. Once it is confirmed, the indicator will fill in the plot with a solid color and print a break label. Unlike other zig-zag or pivot point indicators, Ghost Tangent Crossings (ChartPrime) only has a pivot lookforward input. This is because the lookback is automatically adjusted based on the last known zig-zag. This allows the indicator to dynamically look for the most recent valid market movement. The equipoint is calculated as the point along the ellipse with an equal change in price on either side. From this point we plot a line with the slope at that location and when the price breaks this level a break label is plotted. Alternatively you can plot this point as a horizontal line. This area works as support and resistance for the market as its the point where the balance in movement is found. We feel that this is a simple and elegant solution to connected zig-zag patterns that utilizes a novel method of visualization that many traders will find useful. With its simple controls and intuitive style, we believe that Ghost Tangent Crossings (ChartPrime) will find a home on most traders charts. To use Ghost Tangent Crossings (ChartPrime) simply add it to your chart and adjust the lookforward to your taste. From there you can adjust the color of the zig-zags and enable or disable any of the visual features. We have included both wick and body pivot types to accommodate most trading style. From there, you are all done and ready to trade! Enjoy
Indicatore Pine Script®
di ChartPrime
71
Pivotal MomentsPivotal Moments draws lines for each of up to 500 pivot high and pivot low levels that have never been revisited at the present moment in time. After the Pivotal Moments indicator has been loaded onto chart and any of the subsequent realtime bars that are formed touch or cross a pivot level it is deleted. The duration for how long any touched or crossed pivot levels remain on chart before deletion may be extended by N bars or N units of time. There are user selectable options for the following: • Pivot Bars Left : the number of lower highs or higher lows that must be formed before a possible pivot bar can occur. • Right : the number of lower highs or higher lows that must be formed after potential pivot to validate a pivot bar. • Lines Show As : the choice of line style to use for the drawn pivot levels includes Dashed, Dotted, or Solid. • Wide : the number of lines wide for how thick the drawn pivot levels are desired to be on the chart. • Delay Removal : the number of units that touched or crossed pivot levels will persist on chart. • Units : the choice of which delay unit type includes nBars, nSecs, nMins, nHrs, or nDays. • Extend Right : the number of bars right of current bar to extend drawn pivot levels. • Show : the number of maximum recent drawn pivot levels to keep on chart. • Colors Used : the colors used for pivots high, low, and dual pivot bars. • Show Price Labels : the choice whether to show prices for levels. • On Right : the choice to move prices to right of pivot levels. • Show Pivot Bars : the choice to colorize pivot bars. If desired, alerts can be received for whenever new touches or crosses occur for both pivot highs and pivot lows by creating a single Alert. Note that these alerts are triggered by realtime bars which by their very nature are repainting prices, thus the alert creation window will warn of this with an orange exclamation symbol. For an illustration of how to create alerts for this indicator click the chart below: Credit: this indicator was originally built for @Luckshury, who has graciously given me permission to publish it publicly. NOTICE: This is an example script and not meant to be used as an actual strategy. By using this script or any portion thereof, you acknowledge that you have read and understood that this is for research purposes only and I am not responsible for any financial losses you may incur by using this script!
Indicatore Pine Script®
di allanster
22
Support Resistance ChannelsHello All, For Long time I was planning to make Support/Resistance Channels script, finally I had time and here it is. How this script works? - it finds and keeps Pivot Points - when it found a new Pivot Point it clears older S/R channels then; - for each pivot point it searches all pivot points in its own channel with dynamic width - while creating the S/R channel it calculates its strength - then sorts all S/R channels by strength - it shows the strongest S/R channels, before doing this it checks old location in the list and adjust them for better visibility - if any S/R channel was broken on last move then it gives alert and put shape below/above the candle - The colors of the S/R channels are adjusted automatically You can set/change following settings: - Pivot Period - Source : High/Low or Close/Open can be used - Maximum Channel Width %: this is the maximum channel width rate, this is calculated using Highest/Lowest levels in last 300 bars - Number of S/R to show : this is the number of Strongest S/R to show - Loopback Period: While calculating S/R levels it checks Pivot Points in LoopBack Period - Show S/R on last # Bars: To see S/R levels only on last N bars - Start Date: the script starts calculating Pivot Point from this date, the reason I put this option is for visuality. Explained below - You can set colors/transparency - and You can enable/disable shapes for broken S/R levels Examples: You can change colors as you wish: here " Show S/R on last # Bars " set 100: Sometimes visuality may corrupt because of old S/R levels, to solve it you need to set "Start Date" in the options to start the script in visual part (last 292 bars) here in first screenshot it doesn't look good (shrink), then on second screenshot I set the "Start Date" it looks better, if you change time frame don't forget to set it again :) Enjoy!
Indicatore Pine Script®
di LonesomeTheBlue
286
Trend Lines for RSI, CCI, Momentum, OBVHello Traders! After publishing Trend Lines for RSI yesterday, I realized that Trend Lines for more indicators needed by the traders. so I decided to make it for four different indicators: RSI, CCI, OBV, Momentum In the indicator options you can choose the indicator from pull-down menu. How it works? - On each bar it finds last 10 higher and lower Pivot Points (PP) for the indicator. - from first bar to 10. Pivot Point it searchs if a trend line is possible - for each PP it starts searching from the last PP . - it checks if drawing a trend line possible or not and also it's broken or not - if it's broken then optionally it shows broken trend lines as dotted (or you can option not to see broken lines) - if it finds a continues trend line then it stops searhing more and draw trend line, this is done by checking angles (I did this to make the script faster, otherwise you may get error because of it needs time more than .2sec) - the script makes this process for each PP - then shows the trend lines P.S. it may need 3-10 seconds when you added the script to the chart at first (because of calculations) Trend lines for CCI: Trend Lines for OBV Trend Lines for Momentum: You may want to watch how Trend Lines script works (that was made for RSI) s3.tradingview.com If you still didn't see Trend Lines v2 then visit: All Comments are welcome.. Enjoy!
Indicatore Pine Script®
di LonesomeTheBlue
57
Trend Lines v2Hello Everyone. After working on new and better trend lines script for couple of weeks, finally I am proud to publish Trend Lines v2. How it works? - On each bar it finds last 10 higher and lower Pivot Points (PP). - from first bar to 10. PP it search if a trend line is possible - for each it starts searching from the last PP. - it check if drawing a trend line possible or not and also it's broken or not - if it's broken then optionally it shows broken trend lines as dotted - if it finds a continues trend line and stop searhing more and draw trend line (I did this to make the script faster, otherwise you may get error because of it needs time more than .2sec) - the script makes this process for each PP optionally trend lines may be Solid or Dashed optionally you may get rid of broken trend lines if you think it's crowded and sometimes you may not see any trend line on the chart. this means you need to adjust the period for Pivot Points accordingly also I made a video. if you watch this video you can see how the script works. Important! after you add this tool to the chart you may need zoom-in and zoom-out to see all lines! I thought a lot to make it free or not then I decided make it free and open source. you should know there is a lot of effort for this script, so if you think this is usefull please consider a donation ;) Enjoy!
Indicatore Pine Script®
di LonesomeTheBlue
224
Month breaksA very simple indicator that marks the start of every month with a vertical line. But default the vertical line is gray with 80% transparency but you can customize the style/color/transparency as you like. I hate crowded charts, bloated with all kind of crazy shapes and I created this indicator for two main reasons: 1. beginning/end of the month is an excellent pivot-point 2. to be simple, easy to customize and non-intrusive with the underlying chart See the attached EURUSD daily chart, at the beginning of every month the price pivoted up and down, can you figure out what happens at the end of Dec 2019? Trade long and prosper!!!
Indicatore Pine Script®
di icostan
10
[JR] Multi Bollinger Heat Bands - EMA/Breakout optionsA little, yet hopefully useful update over my previous "Multi Bollinger Heat Bands". For those who like quick visual cue's. In short: It's your Basic Bollinger Bands, but 3 of them, and some pointy things. In full: Three stacked SMA based Bollinger Bands designed just to give you a quick visual on the "heat" of movement. Set inner band as you would expect, then set your preferred additional multiplier increments for the outer 2 bands. Option to use EMA as alternative basis, rather than SMA. Breakout indication shapes, which have their own multiplier (but still tied to same length/period as the BB's) so you can make them pop on their own separate "band".
Indicatore Pine Script®
di JayRogers
10