Support & resistance - DHJ : BUY/SELL Signal

3 jam lalu

//version=5
indicator(" Support & resistance - DHJ : Support/Resistance, EMA Crossover, Previous Day High/Low", shorttitle = "Support & resistance - DHJ", overlay=true, max_boxes_count=50)

// User Inputs
int lookbackPeriod = input.int(20, "Lookback Period", minval=1, group="Settings")
int vol_len = input.int(2, "Delta Volume Filter Length", tooltip="Higher input, will filter low volume boxes", group="Settings")
float box_withd = input.float(1, "Adjust Box Width", maxval=1000, minval=0, step=0.1, group="Settings")

// Define the EMAs
ema9 = ta.ema(close, 9)
ema21 = ta.ema(close, 21)

// Plot the EMAs
plot(ema9, color=color.blue, linewidth=1)
plot(ema21, color=color.red, linewidth=1)

// Crossover conditions
longCondition = ta.crossover(ema9, ema21)
shortCondition = ta.crossunder(ema9, ema21)

// Plot buy/sell signals
plotshape(series=longCondition, location=location.belowbar, color=color.green, style=shape.labelup, text="BUY")
plotshape(series=shortCondition, location=location.abovebar, color=color.red, style=shape.labeldown, text="SELL")

// Previous day high and low
var float pdHigh = na
var float pdLow = na

if (ta.change(time("1D")))
pdHigh := high
pdLow := low

plot(pdHigh, color=color.green, linewidth=1, title="Previous Day High")
plot(pdLow, color=color.red, linewidth=1, title="Previous Day Low")

// Delta Volume Function
upAndDownVolume() =>
posVol = 0.0
negVol = 0.0

var isBuyVolume = true

switch
close > open => isBuyVolume := true
close < open => isBuyVolume := false

if isBuyVolume
posVol += volume
else
negVol -= volume

posVol + negVol

// Function to identify support and resistance boxes
calcSupportResistance(src, lookbackPeriod) =>
// Volume
Vol = upAndDownVolume()
vol_hi = ta.highest(Vol / 2.5, vol_len)
vol_lo = ta.lowest(Vol / 2.5, vol_len)

var float supportLevel = na
var float supportLevel_1 = na
var float resistanceLevel = na
var float resistanceLevel_1 = na
var box sup = na
var box res = na
var color res_color = na
var color sup_color = na
var float multi = na

var bool brekout_res = na
var bool brekout_sup = na
var bool res_holds = na
var bool sup_holds = na

// Find pivot points
pivotHigh = ta.pivothigh(src, lookbackPeriod, lookbackPeriod)
pivotLow = ta.pivotlow(src, lookbackPeriod, lookbackPeriod)
// Box width
atr = ta.atr(200)
withd = atr * box_withd

// Find support levels with Positive Volume
if (not na(pivotLow)) and Vol > vol_hi

supportLevel := pivotLow
supportLevel_1 := supportLevel - withd

topLeft = chart.point.from_index(bar_index - lookbackPeriod, supportLevel)
bottomRight = chart.point.from_index(bar_index, supportLevel_1)

sup_color := color.from_gradient(Vol, 0, ta.highest(Vol, 25), color(na), color.new(color.green, 30))

sup := box.new(
top_left = topLeft,
bottom_right = bottomRight,
border_color = color.green,
border_width = 1,
bgcolor = sup_color,
text = "Vol: " + str.tostring(math.round(Vol, 2)),
text_color = chart.fg_color,
text_size = size.small
)

// Find resistance levels with Negative Volume
if (not na(pivotHigh)) and Vol < vol_lo

resistanceLevel := pivotHigh
resistanceLevel_1 := resistanceLevel + withd

topLeft = chart.point.from_index(bar_index - lookbackPeriod, resistanceLevel)
bottomRight = chart.point.from_index(bar_index, resistanceLevel_1)

res_color := color.from_gradient(Vol, ta.lowest(Vol, 25), 0, color.new(color.red, 30), color(na))

res := box.new(
top_left = topLeft,
bottom_right = bottomRight,
border_color = color.red,
border_width = 1,
bgcolor = res_color,
text = "Vol: " + str.tostring(math.round(Vol, 2)),
text_color = chart.fg_color,
text_size = size.small
)

// Adaptive Box Len
sup.set_right(bar_index + 1)
res.set_right(bar_index + 1)

// Break of support or resistance conditions
brekout_res := ta.crossover(low, resistanceLevel_1)
res_holds := ta.crossunder(high, resistanceLevel)

sup_holds := ta.crossover(low, supportLevel)
brekout_sup := ta.crossunder(high, supportLevel_1)

// Change Color of Support to red if it was break, change color of resistance to green if it was break
if brekout_sup
sup.set_bgcolor(color.new(color.red, 80))
sup.set_border_color(color.red)
sup.set_border_style(line.style_dashed)

if sup_holds
sup.set_bgcolor(sup_color)
sup.set_border_color(color.green)
sup.set_border_style(line.style_solid)

if brekout_res
res.set_bgcolor(color.new(color.green, 80))
res.set_border_color(color.new(color.green, 0))
res.set_border_style(line.style_dashed)

if res_holds
res.set_bgcolor(res_color)
res.set_border_color(color.new(color.red, 0))
res.set_border_style(line.style_solid)

[supportLevel, resistanceLevel, brekout_res, res_holds, sup_holds, brekout_sup]

// Calculate support and resistance levels and their breakouts
[supportLevel, resistanceLevel, brekout_res, res_holds, sup_holds, brekout_sup] = calcSupportResistance(close, lookbackPeriod)

// Check if Resistance becomes Support or Support Becomes Resistance
var bool res_is_sup = na
var bool sup_is_res = na

switch
brekout_res => res_is_sup := true
res_holds => res_is_sup := false

switch
brekout_sup => sup_is_res := true
sup_holds => sup_is_res := false

// Plot Res and Sup breakouts and holds
plotchar(res_holds, "Resistance Holds", "◆", color = #e92929, size = size.tiny, location = location.abovebar, offset = -1)
plotchar(sup_holds, "Support Holds", "◆", color = #20ca26, size = size.tiny, location = location.belowbar, offset = -1)

plotchar(brekout_res and res_is_sup[1], "Resistance as Support Holds", "◆", color = #20ca26, size = size.tiny, location = location.belowbar, offset = -1)
plotchar(brekout_sup and sup_is_res[1], "Support as Resistance Holds", "◆", color = #e92929, size = size.tiny, location = location.abovebar, offset = -1)

// Break Out Labels
if brekout_sup and not sup_is_res[1]
label.new(
bar_index[1], supportLevel[1],
text = "Break Sup",
style = label.style_label_down,
color = #7e1e1e,
textcolor = chart.fg_color,
size = size.small
)

if brekout_res and not res_is_sup[1]
label.new(
bar_index[1], resistanceLevel[1],
text = "Break Res",
style = label.style_label_up,
color = #2b6d2d,
textcolor = chart.fg_color,
size = size.small
)