S/R-AA+++++++AA

The “S/R-AA+++++++AA” indicator is an advanced technical analysis tool that automatically identifies and plots key Support and Resistance (S/R) levels based on a combination of RSI, CMO, and pivot points. It is designed for traders who need clear visual signals of important price zones on the chart.

🔧 How It Works:
The indicator uses the following logic to detect support and resistance:

RSI (Relative Strength Index) – Utilized in both standard and legacy forms to detect extreme conditions (below 25 for support, above 75 for resistance).

CMO (Chande Momentum Oscillator) – Based on HMA (Hull Moving Average), this acts as a momentum confirmation filter.

Pivot Points – Short-term (2-bar) pivots are used to identify local highs and lows for precise S/R plotting.

🧠 Detection Logic:
A Support Zone is marked when RSI is low (< 25), CMO is strongly positive (> 50), and a local low is detected.

A Resistance Zone appears when RSI is high (> 75), CMO is strongly negative (< -50), and a local high is formed.

📈 Visual Output:
The indicator automatically draws horizontal lines:

Blue Line = Support

Red Line = Resistance

Lines are displayed on the selected timeframe (S/R Timeframe) and shown directly on the chart as an overlay.

🔔 Extra Features:
Alert Support: Allows users to set alerts when a new support or resistance level is formed.

Customizable line thickness and colors for improved visibility and clarity.

🎯 Purpose of the Indicator:
The purpose of this indicator is to automatically identify high-probability price reversal zones, helping traders better plan their entries, exits, stop-loss, and take-profit levels.