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Schoute Support Resistance Diagonal

This Pine Script indicator dynamically identifies and plots support and resistance levels on a TradingView chart. It adjusts its calculations based on the selected timeframe, ensuring relevance across various trading periods. The script detects pivot highs and lows over a user-defined lookback period to determine these key levels. Once identified, it draws horizontal lines at these support and resistance points, extending them into the future to assist traders in visualizing potential price reaction zones. Customization options include setting the sensitivity of pivot detection, the number of historical bars analyzed, and the appearance of the lines, allowing traders to tailor the indicator to their specific analysis needs.
Nota Keluaran
This Pine Script indicator dynamically identifies and plots support and resistance levels on a TradingView chart. It adjusts its calculations based on the selected timeframe, ensuring relevance across various trading periods. The script detects pivot highs and lows over a user-defined lookback period to determine these key levels. Once identified, it draws horizontal lines at these support and resistance points, extending them into the future to assist traders in visualizing potential price reaction zones. Customization options include setting the sensitivity of pivot detection, the number of historical bars analyzed, and the appearance of the lines, allowing traders to tailor the indicator to their specific analysis needs.

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