Displays recent higher highs, lower highs, lower lows, and higher lows as a collection of local limit indicators.
In its simplicity is a lot more powerful than might appear at first glance.
Does not rely on volatility calculation.
Can be linked together to create an objective view of recent support and resistance levels.
Makes current trends more visible.
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Level: 1
Background
This script combines moving average processing with highest high and lowest low to disclose the "fingerprint" of a specific trading pair to describe its unique behavior.
Function
Moving Average Fingerprint for Long Entry is a Level 1 pine script. It utilize several moving average of inherent highest high and lowest low and combine them...
Library "LocalLimit"
Calculates the local upper or local lower limit for a given series. Applying multiple passes produces what appears like support or resistance levels.
See Local Limits for more detail.
upper(src) Produces the recent local upper limit for a given series.
Parameters:
src : The source series to derive from.
lower(src) Produces...
