MADĀlgo_Guppy IndicatorThe Guppy Multiple Moving Average (GMMA) is a technical indicator that aims to anticipate a potential breakout in the price of an asset. The term gets its name from Daryl Guppy, an Australian financial columnist and book author who developed the concept in his book, "Trading Tactics."
The GMMA uses the exponential moving average (EMA) to capture the difference between price and value in a stock. A convergence in these factors is associated with a significant trend change. Guppy maintains that the GMMA is not a lagging indicator but a prior warning of a developing change in price and value.
Ref: www.investopedia.com
Corak carta
Angkol StrategyKey Components:
Time Zones:
Kill Zone: A specific time window during which the strategy tracks price action for potential signals.
You can modify the start and end time of this kill zone with a time zone offset for your preferred market hours (e.g., New York).
Entry Restriction Zone: A time window during which entry signals are restricted (i.e., no entries are allowed). You can modify the start and end time for this restriction.
Trade Biases:
Sell Bias: Occurs when the price breaks the previous day's kill zone high.
Buy Bias: Occurs when the price breaks the previous day's kill zone low.
Trade Signals:
Bearish Signal (Sell): Triggered when:
A Bearish Engulfing pattern occurs (where the current bar closes lower than it opens and it engulfs the previous bar).
A Bearish Order Block forms (where the previous candle is bullish and the current one closes below the previous low).
The price breaks the previous day’s kill zone high.
The signal is outside the entry restriction window.
Bullish Signal (Buy): Triggered when:
A Bullish Engulfing pattern occurs (where the current bar closes higher than it opens and it engulfs the previous bar).
A Bullish Order Block forms (where the previous candle is bearish and the current one closes above the previous high).
The price breaks the previous day’s kill zone low.
The signal is outside the entry restriction window.
Plotting:
Kill Zone Background: The chart’s background turns blue during the kill zone to visually highlight the target time window.
Buy/Sell Signals: Buy and sell signals are marked on the chart using small upward and downward labels.
Previous Day's High/Low: The high and low from the previous day’s kill zone are plotted on the chart for reference.
Alerts:
Alerts for Buy and Sell Signals: Alerts are triggered when either buy or sell signals are generated, based on your conditions.
Customization:
Time Zone Offset: Adjusts the entire strategy to the desired time zone (e.g., New York time).
Kill Zone: You can adjust the start and end times of the kill zone, reflecting the active market session.
Entry Restriction Window: You have control over the start and end times of the entry window, ensuring no trades are executed during this period.
Goal:
Your strategy aims to capture buy or sell opportunities after the price breaks key levels (previous day’s high/low) within specific time windows (the kill zone and entry restriction zone). You focus on order block and engulfing candle patterns to validate entries.
B20 by Nulytrading The "B20" defines the intraday trend. It displays 20 candles on the M15 timeframe from 7:00 AM to 12:00 PM. When the price breaks above the highest point or below the lowest point of these 20 candles, it is called a "B20 breakout." The price tends to move toward Fibonacci extension levels of 1.618, 2.618, and 4.238, also referred to as B1, B2, and B3 levels. These levels represent reaction zones, support, and resistance areas, helping to determine take-profit points. Additionally, this indicator assists in identifying bottoms and tops, reducing the risk of significant losses. Currently, this indicator is best used exclusively with the XAUUSD (gold) pair. Combine it with key levels, trendlines, and order clusters to enhance its effectiveness.
Biên 20 xác định xu hướng trong ngày. Hiển thị 20 nến khung m15 từ 7h sáng đến 12h trưa. Khi giá phá vỡ điểm cao nhất hoặc thấp nhất của trong 20 cây nến đó, gọi là phá vỡ biên. Giá có xu hướng tiến đến các mốc fibo mở rộng 1,618 và 2,618 và 4,238. Còn gọi là mốc B1, B2, B3. Các B này hiển thị vùng phản ứng, kháng hỗ. Xác định điểm take profit. Và còn giúp bạn bắt đáy, đỉnh đỡ cháy hơn, hiện chỉ báo này chỉ nên sử dụng với sản phẩm XAUUSD (vàng). Kết hộ với key level, trendline, bộ tố lệnh để tăng hiệu quả.
Simple Reversal Point - v2感谢原作者 @Dreadblitz , 我在其脚本之上进行了优化
原脚本链接:
1. 不使用当前k线以避免重绘或者警告频繁触发且与绘图不一致的情况
2. 增加连续三根k线的触发反转条件
3. 使信号交替进行, 不会出现连续的信号
Thanks to the original author @Dreadblitz I optimized it on top of his script
Original script link:
1. Do not use the current K-line to avoid redrawing or warnings that are triggered frequently and are inconsistent with the drawing.
2. Add triggering reversal conditions for three consecutive K lines
3. Make the signals alternate and there will be no continuous signals.
Volume-Based RSI Color Indicator with MAsVolume-Based RSI Color Indicator with MAs
Overview
This script combines the Relative Strength Index (RSI) with volume analysis to provide an enhanced perspective on market conditions. By dynamically coloring the RSI line based on overbought/oversold conditions and volume thresholds, this indicator helps traders quickly identify high-probability reversal zones. Additionally, it incorporates short-term and long-term moving averages (MAs) of the RSI for trend analysis, making it a versatile tool for scalping and swing trading strategies.
Key Features
Dynamic RSI Color Coding:
The RSI line changes color based on two conditions:
Overbought/High Volume: RSI is above the overbought threshold (default: 70) and volume exceeds the average volume by a user-defined multiplier (default: 2.0). The line turns red, indicating potential reversal zones.
Oversold/High Volume: RSI is below the oversold threshold (default: 30) and volume exceeds the average volume by the multiplier. The line turns green, suggesting potential buying opportunities.
Neutral Conditions: Default blue color for all other scenarios.
Volume Integration:
Unlike standard RSI indicators, this script incorporates volume data to refine signals, helping traders avoid false signals in low-volume environments.
RSI Moving Averages:
Two moving averages of the RSI (short-term and long-term) provide trend context:
200-period MA: Highlights the long-term trend in RSI values.
20-period MA: Shows short-term fluctuations for quick decision-making.
Both MAs can be calculated using Simple or Exponential methods, giving users flexibility.
Visual Aids:
Horizontal lines at the overbought (70) and oversold (30) levels help define the boundaries of expected price action extremes.
How It Works
The script calculates the RSI over a user-defined length (default: 14).
Volume data is compared to its moving average to determine if it exceeds the user-defined high-volume threshold.
When RSI and volume conditions align, the RSI line is dynamically colored to indicate potential overbought/oversold zones.
The RSI moving averages provide additional context to confirm trends or reversals.
How to Use
Identify Reversal Zones:
Look for green RSI signals in oversold conditions to identify potential buying opportunities.
Look for red RSI signals in overbought conditions to identify potential selling opportunities.
Use Moving Averages for Confirmation:
When the RSI is above its 200-period MA, the long-term trend is bullish; consider only long trades.
When the RSI is below its 200-period MA, the trend is bearish; consider only short trades.
Combine with Other Tools:
This indicator works best when used alongside price action analysis, candlestick patterns, or support/resistance levels.
Originality
This script is unique in combining volume analysis with RSI and RSI-specific moving averages. While many indicators focus on RSI or volume separately, this script marries these two key metrics to filter out weak signals and improve trade decision accuracy.
Chart Recommendations
Clean Chart: Use this indicator on a clean chart without additional overlays for maximum clarity.
Timeframes: Works well on intraday charts (e.g., 5m, 15m) for scalping and on higher timeframes (e.g., 1H, 4H, Daily) for swing trading.
Disclaimer
This indicator is a tool to aid trading decisions and should not be used in isolation. Always consider other factors such as market conditions, news events, and risk management.
Danish Algo - BTC V- 1.2.1 //@version=6
strategy('Danish Algo - BTC V- 1.2.1 ', overlay = true)
// Input periods for top and bottom signals
bottom_period = input(14, title = 'Bottom Period')
top_period = input(14, title = 'Top Period')
// Default target points at 500, but adjustable
target_points = input(500, title = 'Target Points (Default 500)')
stop_loss_points = input(0, title = 'Additional SL Points (0 for 2-candle SL only)') // Additional points for SL adjustment
// Calculate bottom and top conditions
bottom_condition = low < ta.lowest(low , bottom_period) and low <= ta.lowest(low , bottom_period)
top_condition = high > ta.highest(high , top_period) and high >= ta.highest(high , top_period)
// Signal times since last condition met
bottom_signal = ta.barssince(bottom_condition)
top_signal = ta.barssince(top_condition)
// BUY-SELL Conditions
Buy = ta.crossover(bottom_signal, top_signal)
Sell = ta.crossunder(bottom_signal, top_signal)
// Define stop loss and target levels based on 2 candles back high/low
buy_sl = Buy ? low - stop_loss_points : na // Buy पर 2 candles पीछे का low SL के साथ custom adjustment
buy_target = Buy ? close + target_points : na // Fixed 500 points TP for Buy (adjustable)
sell_sl = Sell ? high + stop_loss_points : na // Sell पर 2 candles पीछे का high SL के साथ custom adjustment
sell_target = Sell ? close - target_points : na // Fixed 500 points TP for Sell (adjustable)
// Signal cancellation logic
if Buy and strategy.position_size < 0 // Close Sell if Buy signal appears
strategy.close('Sell')
if Sell and strategy.position_size > 0 // Close Buy if Sell signal appears
strategy.close('Buy')
// Strategy Entry and Exit for Buy
if Buy
strategy.entry('Buy', strategy.long)
strategy.exit('Sell Target/SL', 'Buy', stop = buy_sl, limit = buy_target)
// Strategy Entry and Exit for Sell
if Sell
strategy.entry('Sell', strategy.short)
strategy.exit('Buy Target/SL', 'Sell', stop = sell_sl, limit = sell_target)
// Plot Buy/Sell Signals on chart
plotshape(Buy, title = 'BUY', location = location.belowbar, color = color.new(color.green, 0), style = shape.labelup, text = 'BUY', textcolor = color.new(color.black, 0))
plotshape(Sell, title = 'SELL', location = location.abovebar, color = color.new(color.red, 0), style = shape.labeldown, text = 'SELL', textcolor = color.new(color.black, 0))
// Background Color for Buy and Sell Zones
bgcolor(Buy ? color.new(color.blue, 85) : Sell ? color.new(color.red, 85) : na)
// Alert Conditions for Buy and Sell
alertcondition(Buy, title = 'Buy Signal', message = 'Buy signal detected')
alertcondition(Sell, title = 'Sell Signal', message = 'Sell signal detected')
Monthly Vertical Lines//@version=5
indicator("Monthly Vertical Lines", overlay=true)
month_change = (month != month ) // Detects a new month
if month_change
line.new(x1=bar_index, y1=na, x2=bar_index, y2=na, extend=extend.both, color=color.gray, style=line.style_dotted, width=1)
Monthly Vertical Lines//@version=5
indicator("Monthly Vertical Lines", overlay=true)
month_change = (month != month ) // Detects a new month
if month_change
line.new(x1=bar_index, y1=na, x2=bar_index, y2=na, extend=extend.both, color=color.gray, style=line.style_dotted, width=1)
CandelaCharts - Swing Failure Pattern (SFP)# SWING FAILURE PATTERN
📝 Overview
The Swing Failure Pattern (SFP) indicator is designed to identify and highlight Swing Failure Patterns on a user’s chart. This pattern typically emerges when significant market participants generate liquidity by driving price action to key levels. An SFP occurs when the price temporarily breaks above a resistance level or below a support level, only to quickly reverse and return within the previous range. These movements are often associated with stop-loss hunting or liquidity grabs, providing traders with potential opportunities to anticipate reversals or key market turning points.
A Bullish SFP occurs when the price dips below a key support level, triggering stop-loss orders, but then swiftly reverses upward, signaling a potential upward trend or reversal.
A Bearish SFP happens when the price spikes above a key resistance level, triggering stop-losses of short positions, but then quickly reverses downward, indicating a potential bearish trend or reversal.
The indicator is a powerful tool for traders, helping to identify liquidity grabs and potential reversal points in real-time. Marking bullish and bearish Swing Failure Patterns on the chart, it provides clear visual cues for spotting market traps set by major players, enabling more informed trading decisions and improved risk management.
📦 Features
Bullish/Bearish SFPs
Styling
⚙️ Settings
Length: Determines the detection length of each SFP
Bullish SFP: Displays the bullish SFPs
Bearish SFP: Displays the bearish SFPs
Label: Controls the size of the label
⚡️ Showcase
Bullish
Bearish
Both
📒 Usage
The best approach is to combine a few complementary indicators to gain a clearer market perspective. This doesn’t mean relying on the Golden Cross, RSI divergences, SFPs, and funding rates simultaneously, but rather focusing on one or two that align well in a given scenario.
The example above demonstrates the confluence of a Bearish Swing Failure Pattern (SFP) with an RSI divergence. This combination strengthens the signal, as the Bearish SFP indicates a potential reversal after a liquidity grab, while the RSI divergence confirms weakening momentum at the key level. Together, these indicators provide a more robust setup for identifying potential market reversals with greater confidence.
🚨 Alerts
This script provides alert options for all signals.
Bearish Signal
A bearish signal is triggered when a Bearish SFP is formed.
Bullish Signal
A bullish signal is triggered when a Bullish SFP is formed.
⚠️ Disclaimer
Trading involves significant risk, and many participants may incur losses. The content on this site is not intended as financial advice and should not be interpreted as such. Decisions to buy, sell, hold, or trade securities, commodities, or other financial instruments carry inherent risks and are best made with guidance from qualified financial professionals. Past performance is not indicative of future results.
SMA(20,50,100,200) - cryptoMittalSMA(20,50,100,200) - cryptoMittal. Aims to provide simple moving averages for various candle spans
Non-Lagging Indicator: EMA + TSI BY UTTAM PARAMANIK//@version=5
indicator("Non-Lagging Indicator: EMA + TSI", overlay=true)
// Parameters for the EMA
fastLength = input.int(9, title="Fast EMA Period", minval=1)
slowLength = input.int(21, title="Slow EMA Period", minval=1)
// Parameters for the TSI
tsiFastLength = input.int(13, title="TSI Fast Length", minval=1)
tsiSlowLength = input.int(25, title="TSI Slow Length", minval=1)
tsiSignalLength = input.int(7, title="TSI Signal Length", minval=1)
// EMA Calculation
fastEMA = ta.ema(close, fastLength)
slowEMA = ta.ema(close, slowLength)
// TSI Calculation
delta = close - close
doubleSmoothDelta = ta.ema(ta.ema(delta, tsiFastLength), tsiSlowLength)
doubleSmoothAbsDelta = ta.ema(ta.ema(math.abs(delta), tsiFastLength), tsiSlowLength)
tsi = 100 * doubleSmoothDelta / doubleSmoothAbsDelta
tsiSignal = ta.ema(tsi, tsiSignalLength)
// Plot EMAs
plot(fastEMA, color=color.blue, title="Fast EMA")
plot(slowEMA, color=color.orange, title="Slow EMA")
// Plot TSI and Signal
plot(tsi, color=color.green, title="True Strength Indicator")
plot(tsiSignal, color=color.red, title="TSI Signal")
// Buy and Sell Conditions
buyCondition = ta.crossover(fastEMA, slowEMA) and ta.crossover(tsi, tsiSignal)
sellCondition = ta.crossunder(fastEMA, slowEMA) and ta.crossunder(tsi, tsiSignal)
// Plot Buy and Sell Signals
plotshape(buyCondition, color=color.green, style=shape.labelup, location=location.belowbar, text="BUY")
plotshape(sellCondition, color=color.red, style=shape.labeldown, location=location.abovebar, text="SELL")
nifty supertrend tritonTrend based Strategy based on EMA , ATR and supertrend . Currently being used and testing on Nifty and Banknifty with adjusted parameters .
Do backtest before taking any trade
Nitesh - Buyside & Sellside LiquidityLiquidity Zones
Buyside Liquidity Zones: Enables display of the buyside liquidity zones.
Margin: Sets margin/sensitivity for the liquidity zone boundaries.
Color: Color option for buyside liquidity levels & zones.
Sellside Liquidity Zones: Enables display of the sellside liquidity zones.
Margin: Sets margin/sensitivity for the liquidity zone boundaries.
Color: Color option for sellside liquidity levels & zones.
🔹 Liquidity Voids
Liquidity Voids: Enables display of both bullish and bearish liquidity voids.
Label: Enables display of a label indicating liquidity voids.
Comprehensive Chart AnalysisThis indicator provides a comprehensive overview of the current market situation by analyzing various technical indicators and patterns. It aims to help traders identify potential trading opportunities by presenting key insights in an organized table.
Features:
Trend Analysis: Identifies the short-term, medium-term, and long-term trends based on closing prices.
Divergence Detection: Detects bullish and bearish divergences between price and RSI, MACD, and Stochastic Oscillator.
Support/Resistance Zones: Calculates and displays potential support and resistance zones based on swing highs/lows and ATR.
Demand/Supply Zones: Identifies potential demand and supply zones based on price action and volume.
Volume Analysis: Analyzes volume changes to identify potential breakouts or trend confirmations.
Candlestick Patterns: Detects bullish and bearish engulfing patterns.
Moving Averages: Includes analysis of 20, 50, and 200 period moving averages and crossovers.
Bollinger Bands: Detects breakouts from Bollinger Bands.
ADX: Calculates the Average Directional Index (ADX) to assess trend strength.
Table Display: Presents the analysis results in a clear and organized table, with customizable position.
Settings:
Analysis Periods (int): The number of bars to look back for analysis (default: 200).
ATR Multiplier (float): Multiplier for ATR used in calculating support/resistance zones (default: 1.5).
Demand Zone Length (int): The number of bars to consider for demand/supply zone calculations (default: 10).
Volume Threshold (float): The multiplier for average volume used to identify significant volume increases (default: 1.2).
Table Position (string): Allows you to choose the position of the table on the chart.
How it Works:
Identifying Trends: Show how the indicator identifies upward, downward, and neutral trends on different timeframes.
Spotting Divergences: Illustrate examples of bullish and bearish divergences detected by the script.
Support/Resistance Zones: Show how the indicator plots support and resistance zones and how price interacts with them.
Demand/Supply Zones: Provide examples of how the indicator identifies demand and supply zones.
Analyzing Volume: Demonstrate how the indicator analyzes volume in relation to price movements.
Detecting Candlestick Patterns: Show examples of how the script identifies bullish and bearish engulfing patterns.
Moving Average Analysis: Illustrate how the indicator uses moving averages to identify potential trend changes.
Bollinger Band Breakouts: Show examples of how the script detects breakouts from Bollinger Bands.
ADX Interpretation: Explain how to interpret the ADX values provided by the indicator.
Important Notes:
This indicator is intended for informational and educational purposes only. It should not be considered financial advice.
The effectiveness of the signals provided by this indicator may vary depending on market conditions and other factors.
Always conduct your own research and use proper risk management techniques before making any trading decisions.
Backtest this indicator on historical data to evaluate its performance before using it for live trading.
13, 21, 34 SMAs tradewithshamincluded 13,21 and 34 simple moving average for swing trade. use it in day candle
RelVolRelative Volume is an indicator of current volume divided by average volume over the lats 10 candle sticks.
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Pawan's Spectral Cross IndicatorThe Spectral Cross indicator is a mysterious yet highly effective tool designed to help traders navigate market trends by providing Buy and Sell signals based on the crossover of two moving averages: the 50-period and the 100-period simple moving averages (SMA).
Key Features:
Buy Signal: A "Buy" label appears on the chart whenever the 50-period SMA crosses above the 100-period SMA, indicating a potential upward momentum in the market.
Sell Signal: A "Sell" label is displayed when the 50-period SMA crosses below the 100-period SMA, signaling potential downward momentum.
Visual Aesthetics:
The 50-period SMA is represented by a blue line, while the 100-period SMA is depicted in red.
Labels ("Buy" or "Sell") are prominently placed at crossover points for clarity.
Background colors subtly change to green for Buy signals and red for Sell signals to enhance visual guidance.
Performance:
The Spectral Cross indicator has demonstrated a historical profitability of approximately 70%, though actual performance may vary based on market conditions, the chosen timeframe, and trading instruments. It is advisable to use this tool as part of a comprehensive trading strategy.
Disclaimer:
This indicator is for educational and informational purposes only. Trading involves significant financial risk, and past performance does not guarantee future results. Use the Spectral Cross indicator alongside sound risk management and thorough market analysis.
Ideal Users:
The Spectral Cross indicator is best suited for swing and position traders who seek an intuitive and visually clear tool to identify trend reversals and optimal entry/exit points. It can be applied to various assets, including stocks, forex, and cryptocurrencies
Pawan's Spectral Cross IndicatorThe Spectral Cross indicator is a mysterious yet highly effective tool designed to help traders navigate market trends by providing Buy and Sell signals based on the crossover of two moving averages: the 50-period and the 100-period simple moving averages (SMA).
Key Features:
Buy Signal: A "Buy" label appears on the chart whenever the 50-period SMA crosses above the 100-period SMA, indicating a potential upward momentum in the market.
Sell Signal: A "Sell" label is displayed when the 50-period SMA crosses below the 100-period SMA, signaling potential downward momentum.
Visual Aesthetics:
The 50-period SMA is represented by a blue line, while the 100-period SMA is depicted in red.
Labels ("Buy" or "Sell") are prominently placed at crossover points for clarity.
Background colors subtly change to green for Buy signals and red for Sell signals to enhance visual guidance.
Performance:
The Spectral Cross indicator has demonstrated a historical profitability of approximately 70%, though actual performance may vary based on market conditions, the chosen timeframe, and trading instruments. It is advisable to use this tool as part of a comprehensive trading strategy.
Disclaimer:
This indicator is for educational and informational purposes only. Trading involves significant financial risk, and past performance does not guarantee future results. Use the Spectral Cross indicator alongside sound risk management and thorough market analysis.
Ideal Users:
The Spectral Cross indicator is best suited for swing and position traders who seek an intuitive and visually clear tool to identify trend reversals and optimal entry/exit points. It can be applied to various assets, including stocks, forex, and cryptocurrencies
Doji NattawatSure! Here's a detailed explanation of the Pine Script code in English. This code is designed to detect Doji candles, draw horizontal lines at the open and close prices of these candles, and display the price values near those lines.
Support and resistance
It plot support and resistance levels on the chart, including visualizing dynamic price zones and labeling key levels. It’s highly customizable for different user preferences, allowing the user to toggle zones, set the line styles, and adjust the strength and look of the support and resistance lines.
Key Features of the Script:
Support and Resistance (S/R) Lines:
The script detects key support and resistance levels based on pivot highs (ph) and pivot lows (pl), and plots them as horizontal lines on the chart.
You can control whether the support and resistance lines are shown with solid, dotted, or dashed styles, and adjust their thickness.
Support and Resistance Zones:
If enabled, the script also shows zones around the support and resistance lines. These zones are calculated as a percentage of the highest and lowest levels over a defined period (300 bars).
The width of these zones is adjustable, allowing for greater flexibility based on market volatility.
Strength of Support and Resistance (S/R Strength):
The script uses a strength filter to determine how significant the support or resistance level is. If a level is visited multiple times, it is considered stronger.
The strength is set by the strengthSR variable, where a higher number requires more "touches" for the level to be valid.
Dynamic Expansion of Levels:
The option to expand support and resistance levels allows the levels to extend in both directions on the chart (extend.both), or just to the right (extend.right), creating a clearer view of how the levels interact with current price action.
High-Low Zones:
If enabled, the script draws high-low zones around detected pivot points. These zones are designed to indicate a price range where the market is likely to find support or resistance.
Color Customization:
The user can customize the color for support (colorSup) and resistance (colorRes) levels. These colors help differentiate between support and resistance visually.
Labels for Key Levels:
The script places labels near the support and resistance levels, showing the price of those levels for easy reference. Labels are color-coded based on whether the price is above or below the level, and you can customize their appearance.
High and low levels are clearly marked with labels above and below the respective levels.
Customizable Inputs:
The script includes various user inputs to fine-tune the visualization, such as enabling/disabling support and resistance lines (enableSR), toggling zones on/off (useZones), adjusting zone width (zoneWidth), and modifying the line style (lineStyle).
Additionally, users can choose whether to display only the highest and lowest levels (useHLZones), or extend the support and resistance lines further (expandSR).
How the Script Works:
Identify Pivot Points:
The script detects pivot highs and lows using the built-in ta.pivothigh and ta.pivotlow functions, with a defined lookback period (rb = 10).
These pivots are used to calculate support and resistance levels.
Calculate and Plot Support and Resistance:
When a pivot high or low is detected, the script calculates the potential support or resistance level based on the highest and lowest values over a period (prd = 284).
These levels are then plotted on the chart, and if enabled, zones are drawn around them to visualize potential price ranges.
Dynamic Updates:
As the market evolves, the script dynamically updates these levels. The levels are recalculated based on the most recent pivot points, ensuring the support and resistance levels adjust in real-time.
Zone Creation:
For each detected support and resistance level, the script creates zones above and below the level. These zones are visually highlighted to show the potential range where the market might find support or resistance.
Strength Filter:
The strengthSR variable ensures that the support or resistance level is only marked if it has been touched by the price multiple times, increasing its reliability.
Line and Label Display:
The lines representing support and resistance can be styled with different thicknesses and dashed styles. Additionally, labels displaying the exact price level can be added to highlight the specific price of each support and resistance level.
Conclusion:
This script provides a powerful and flexible way to visualize support and resistance levels on TradingView. By adjusting the parameters, traders can tailor the script to their preferred trading style. The addition of dynamic zones, strength filtering, and labels adds an extra layer of convenience for identifying potential trade opportunities.