This script is very similar to the original indicator mentioned above, but with a modification that, in my opinion, would be very useful for many traders. It enables the option to choose different timeframe to calculate the S/R levels. Very often, traders would like to use higher timeframes to define S/R levels, rather than using the same timeframe that they are trading at. For example, if trading at 5min, we often use 15min, 30min or 1hr timeframe to define our S/R levels.
For example, below shows S/R levels from three different timeframes:
Hope you find value in this indicator~ Enjoy~
Nota Keluaran
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Updated with additional display settings: - toggle display for labels - Customizable label and text colors
Fixed bug on displaying 'H' and 'L' pivots
Attempted to fix the observation that S/R lines of the same timeframe are inconsistent on different chart timeframes. Improved slightly, but not completely fixed.
Nota Keluaran
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Minor correction to typo in setting.
Nota Keluaran
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removed max limit on 'Pivot Period' and 'Maximum Number of Pivot' settings
Nota Keluaran
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Updated script to address the issue of lines not matching with lines generated at higher timeframe. Please note that this fix only works if the higher timeframe selected isn't "too far" away from the chart timeframe. Example:
Nota Keluaran
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fixed bug from last update: - bug fixed: "Study Error - Error on bar 0. The study references too many candles in history" on non-intraday charts
This would be amazingly useful but I am getting different numbers for support and resistance being on the 1 minute chart and using 5 minute timeframe in the indicator compared to if I did 5 minute chart and 5 minute timeframe
@PtGambler Is there any future update Sir? Thanks mate
NetoDav
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Very nice indicator, would it be possible to have the option to add four different TF for support and resistance in the same indicator so that we do not have to open so many of the same. Cheers my friend
MartinWeb
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there should be a dropdown to turn on current + custom timeframe or just custom timeframe
PtGambler
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@MartinWeb, not sure what you mean~ but you can use "Chart" under Timeframe setting if you want to use the same timeframe as your chart
MartinWeb
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@PtGambler, sure you can but it would be nice to have current SR levels always shown beside higher timeframe ones. this indicator got such a selector what i meant: tradingview.com/v/erbzoVY8/
HI there, this doesn't seem to be showing anything on my Trading view charts. Is this working. I have added this and cannot see another other than the settings etc. I just noticed I am getting and error symbol and it says "Study Error - Error on bar 0. The study references too many candles in history ({minDepth). I am on he daily timeframe
PtGambler
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@Pistolpier, Thanks for noticing!! it should be fixed now :)
the indicator compared to if I did 5 minute chart and 5 minute timeframe