Donchian SARCombination of Donchian channels and sar. The donchian channels provides simple and easy data of support and resistances and SAR tells the price trend
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Support Resistance InteractiveHello All,
Using this "Support Resistance Interactive" script you can set the Support/Resistance levels interactively by clicking on the chart. Using the SR levels you set, the indicator creates Support Resistance zones. The width of the zones are calculated by using Threshold option and Threshold is the percent of the distance between Highest/Lowest levels in last 300 bars. if you set Threshold = 1 then it means 1% of the distance between Highest/Lowest levels. You can change SR levels by moving the level up/down by using your mouse anytime you want.
Now lets see it step by step;
After you added the indicator it will ask 5 Support/Resistance Levels and when you click any point then it's kept as S/R level and it asks another SR levels. if you want to use only 3 SR levels then last 2 SR levels are not important and you can click anywhere on the chart;
After you set all SR levels, it will ask "Number of Support/Resistance" . if you want to activate first 3 SR lines then set it 3. by default it's 5. when you set it click "Apply" and see the SR zones. that's it.
You can enable/disable alerts and set frequency, then create alerts. as it's interactive tool, the SR levels you set are specific for the current/active symbol. if you open another symbol then you better delete the indicator and add it again
Three Alerts exist in the script: Support Broken, Resistance Broken and Price in SR zone . you can enable/disable the alerts as you wish and you can set frequency for each one as "Once Per Bar" or "Once Per Bar Close"
by default Green/Red/Gray colors are used but You can change the colors using the options. according to the Price moves, SR zone colors are changed automatically.
when we have "Reset" feature to run the script interactively (like we added it for first time) I can update the script, then you will not need to delete/re-add each time you changed the symbol :)
In this example "Threshold" is 2 and "Number of Support/Resistance" is 4.
in this example "Threshold" is 0 and "Number of Support/Resistance" is 5.
Last example; Labels are shown for each zone, you can set location of the labels. SR order and Upper/lower band of each zone are shown in each label.
Enjoy!
Close to SupertrendMany a times, we have seen that the price closing in towards supertrend reverses.
This indicator gives signal that identifies high / low of any candle if near the down / up supertrend line by a defined margin using arrow signals.
I've simply re-used readily available supertrend indicator source code and just modified it to these signals. So, almost all of the source code is not mine.
Enter the short / long position when arrow signal appears.
SL / trend reversal will be mandatorily at close of a candle above or below the supertrend line, and the supertrend changes direction.
Hope this indicator comes handy for you.
BlockBlock indicator is based on breakdown.
When a candle closes above previous highest high or below previous lowest low a block is made.
When a candle closes below previous highest high or above previous lowest low the block continues and just high and low are updated.
This indicator is very useful for supply and demand strategy.
Have much profit with this indicator.
Vortex indicator cross support&resistance [LM]Hello traders,
I would like you to present Vortex indicator cross support&resistance script. The idea behind is same as my other S/R scripts to look for important S/R levels.
This time I have used little known and not that old Vortex Indicator that has been released in 2010. Vortex indicator has two plots that crosses each other and on the cross line is rendered. I have included smoothing with TEMA.
The indicator has following settings:
General control - here you can select period of vortex indicator and show/hide labels
Line control - where you can select type of line, colors...
Hope you will enjoy it,
Lukas
session min/max support&resistance [LM]Hello traders,
I would like to present you session min/max support&resistance indicator. The idea behind is to calculate min and max per session and render line at those levels and bars until the price reach the level. With this you can see levels where the price didn't reach with granular control over how many lines can be shown.
Indicator has following settings:
General control - where you can select session interval and show/hide labels
Line control - where you can adjust type of line, color of up/bottom level..
I hope you will enjoy it,
Lukas
Cavuca Technical AnalysisScript created by Cavuca-Trader for technical analysis of various assets. It is based on analysis of moving averages and also on Elliot wave movements, signaling entries and exits through its own coloration.
Mode of Viewing the indicator: Moving averages are used to assist in the movement of the asset's trend by observing its slope. The indicator recognizes market movements and detects the tops and bottoms of the movement by creating horizontal lines. When candles break these lines they gain color according to the trend of the movement.
Notes in the author's language:
Script criado por Cavuca-Trader para análise técnica de diversos ativos . Basea-se em análise de médias móveis e também em movimentos das Ondas de Elliot , sinalizando entradas e saídas através de coloração própria.
Modo de Visualizar o indicador: As médias móveis servem para auxiliar na movimentação de tendência do ativo observando a sua inclinação. O indicador reconhece os movimentos do mercado e detecta os topos e fundos do movimento criando linhas horizontais. Quando os candles rompem essas linhas ganham a coloração de acordo com a tendência do movimento.
Multi Oscillators Price LevelsThis script draws price levels corresponding to the highest price reached in overbought situations, and the lowest price reached in oversold situations, depending on the oscillator and the timeframe the user has configured.
These levels correspond, most of time, to good supports and resistances prices.
Price levels drawings can be based on the following indicators:
Stochastic RSI (default)
Stochastic CCI
RSI
CCI
You can customize this indicator with the following options:
Source: The candle source to use in indicators calculation
Source Indicator: The indicator on which you cant to base your levels
Timeframe: The timeframe on which you want to apply the selected indicator, and calculate levels
Show supports/resistances: enable/disable price levels, depending on there status (overbought - resistances) / (oversold - supports)
Lines width: width of price levels. (set to 10 by default in order to draw "zones")
Supports/Resistances source: Select the candle data you cant to use to draw supports and resistances levels
Extend levels: Select the line extension for price levels
Levels color: Select the desired color for price levels
And of course , all parameters corresponding to the supported indicators (Stoch, RSI, CCI)
Here are a few examples of different configurations:
This script will probably be modified in the future, don't hesitate to suggest any improvement.
Bjorgum Key Levels
Key Levels Aims to capture 3 of the most significant points in price action
Breakouts
False Breakouts (Traps)
Back Checks
These 3 points alone, if properly identified, can be some of the most significant points of movement in the price history of an asset and bring significant gains to traders, if capitalized on. Here are a few examples of these setups
Breakouts
Breakouts can bring significant rallies as the market swings one sided after key levels are breached. This entry type can bring large trending runs to follow. Momentum is on your side, but the trade off is a higher entry.
False Breakouts
Also known as a bull trap or a bear trap, false breaks can lead to swift and significant reversals and potential for a large and sudden move to the opposite side. When a key level breakout fails to hold, parties entering to capitalize on the "epic breakout" can get left holding the bag forcing them to exit at a loss, which can double the force of pressure. Traps can bring swift gains from good entry prices. However, price is still in a larger trend against you so momentum is weak, so price action is susceptible to roll over.
Backchecks
Back checks are pull backs in trend that find middle ground to the 2 areas already described. Both momentum and entry price are decent, but risk is defined as a key level has flipped offering entry with stops below demand, or above supply.
Combining these 3 methods helps to diversify risk, understand trend development, and bring steady gains. This script helps to identify these points to traders with analysis of key levels, price structure, and trend direction, while providing visual signals and alerts for when they occur.
Best of luck in your coding and trading and thank you for your support
Divergence-Support/Resistance - Widget [HeWhoMustNotBeNamed]Unique live widget which provides information about support and resistance along with distance to immediate levels.
⬜ Custom Candle Source
Three options of candles available
▶ Regular OHLC candles
▶ Heikin-Ashi candles ( Taken leaf out of @Bjorgum's book - but, still could not do it as good as him :) )
▶ Moving average candles
⬜ Multiple zigzags and choice of oscillator
Like any other zigzag based indicator, I prefer using 4 zigzag levels.
And select oscillator of your choice to identify divergence. Oscillator lengths are automatically calculated based on zigzag lengths. You can also chose external oscillator.
⬜ Support and resistance widget settings
▶ Max S/R per zigzag - this is the number of last S/R levels recorded for each zigzag
▶ Max S/R for stats - even though there can be many number of S/R levels, we cannot show all of them in the widget due to space constraint. Hence, this is set to minimal value of 3. Can be changed via this input.
▶ Max S/R for Alerts - When sending stats through alerts, users can decide how many immediate S/R levels to be sent in them.
▶ Alert Choices - Can chose to get alerts when new S/R levels formed and also when existing S/R levels broken.
Personally think it is a very handy widget to have!!
Fibonacci Toolkit [LuxAlgo]This toolkit aims to display multiple Fibonacci drawing tools including retracements, arcs, circles, fans, timezones and spirals.
Usage
Upon adding the indicator to the chart, users will be prompted to choose a starting point and an ending point for the calculation of the drawing tools.
Users can then navigate to the settings of the toolkit and choose which drawing tool to display using the Fibonacci drop-down menu. Users are also free to change the default Fibonacci ratios used by the indicator from within the settings. Each tool is described below.
Retracements
Fibonacci retracements display multiple levels constructed using the starting price point, ending price point, and multiple Fibonacci ratios. These levels can be used as support and resistance.
Arcs
Fibonacci arcs display multiple semi-circles. Each semi-circle crosses the line connecting the starting & end price point at a certain percentage determined by Fibonacci ratios. These arcs can be used as support and resistance.
Circles
The Fibonacci circles are similar to the Fibonacci arcs but display a full circle instead. Users can expect the price to bounce off of the circles.
This tool is less commonly used by traders.
Fan
A Fibonacci fan is a tool displaying trendlines all connected to a starting point and extending to a point determined by Fibonacci ratios. These can also be used as support and resistance.
Timezone
Fibonacci timezones return a series of horizontal lines. The distance of the lines increases by a factor given by the numbers in the Fibonacci sequence.
This tool can be useful to highlight points where a trend might reverse assuming that their duration increases over time.
Spiral
The Fibonnaci spiral displays a spiral that grows by a factor given by the golden ratio. This indicator returns a spiral using 7 turns (5 internal) and sets the origin of the spiral to the ending point which is selected by the user. The height of the spiral is based on the price range between the starting point and ending point.
Note that potential display artifacts can be seen when fitting the spiral on stocks and forex pairs.
34 EMA BandsThis is quite a simple script, just plotting a 34EMA on high's and low's of candles. Appears to work wonders though, so here it is.
There is some //'d code which I haven't finished working on, but it looks to be quite similar to Bollinger Bands, just using different math rather than standard deviations from the mean.
The bands itself is pretty self explanatory, price likes to use it as resistance when under it, it can trade inside it and it can use the upper EMA as support when in a strong upward trend.
Pivot Support & ResistanceHere signals are based on the pivot high and pivot lows. Factors taken into account in understanding the breakout or breakdown are:
volume
candle bar is not opening candle
must be near pivot high or low
Recommendation:
Use once candle closes else you might get trapped in certain cases so be careful
RM Timeframe ContinuityThis indicator plots a table off to the right of the chart to help with determining timeframe continuity. Per the Strat, a great edge is only taking trades where full timeframe continuity is in place (i.e. if you are going long, make sure other timeframes are also green).
In this script:
Green candles have green colored boxes, red candles have red colored boxes.
Inside bars are represented by a circle - ⬤
Outside bars are represented by a tall rectangle - ▮
2-up bars are indicated by an up arrow - ▲
2-down bars are indicated by a down arrow - ▼
User defined options:
Pick any timeframe for the 4 boxes
Choose whether to plot the highs/lows of the larger timeframe candles as horizontal rays on your chart (along with the associated colors)
Higher order Orderblocks + Breakerblocks + Range + AlertsThis script identifies Orderblocks, Breakerblocks and Range using higher order pivots and priceaction logic.
I tried to reduce the number of blocks to make the chart cleaner, for this purpose I use only second order pivots for both MSB lines and supply/demand boxes, I also tried to filter out shifts in MS and false breakouts.
Any box has GRAY color until it gets tested.
After successful test box gets colors:
RED for Supply
GREEN for Demand
BLUE for any Breakerblocks
For cleaner chart and script speed all broken boxes deletes from chart.
It gives comparatively clean chart on any TF, even on extra small (5m, 3m, 1m).
For Range there is option to plot 0.25, 0.5, 0.75 lines.
I usually use log scale on charts and there is an option to use it for proper range mean.
In previous my scripts i have requests to make alerts and this time i made it.
It has customizable alert catching all needed alerts into one output:
- Alert MSB - when market structure changes alert will inform you about its direction, MSB line and new Demand/Supply.
- Alert Orderblock or Breakerblock test - alerts when block was tested and it holds (in other words when it get RED/GREEN/BLUE colors)
- Alert New Range - when new range detected
- Alert Range test - alerts when range top or botoom was tested and it holds.
some examples :
Fear Of Missing Out grid of forex tradingAbstract
This script finds potential safe grids placing limit orders without fear of missing out.
This script computes grids according to power of 1.0025 .
You can reference those price levels for your trading.
Introduction
Grid trading is a popular trading method.
Traders plan several price levels as grids and repeat buying at lower grids and selling at higher grids.
Grids can be round number like multiple of 100 pips.
Grids can also be support and resistance according to price history.
Some traders may think they need to adjust grids to trade.
However, there are several problems in choosing grids.
One problem is rate of change is related and therefore exponential. 20 to 30 is different from 30 to 40.
Another interesting point is there are some special impressing reversal price levels.
Several months ago, I had a question why usdjpy bounced near 108.3 .
After using a calculator, I found that 108.3 = 100 * 1.083 ≒ 100 * pow(1.0025,31) .
1.0025 , as known as 0.25% of change, is a potential stop out zone.
Therefore, we can compute grids and one grid is a little more than 1.0025 times than an another one.
After we finished computing grids, we can consider buy and sell near those grids.
Note that different traders may obtain different grid values.
For example, from 1.0 to 2.0 , it can be splited as 270 grids or 277 grids because pow(1.0025,277)<2 .
Those grids cannot always imply potential reversal points but they can be useful for traders looking for 0.25% profit targets with reducing fearing of buying or selling too early.
Computing grids
This script split from 1.0 to 10.0 into three segments.
One is 1.0 to 2.0 .
The second segment is from 2.0 to 5.0 .
The third segment is from 5.0 to 10.0 .
This script does the same thing for 0.1 to 1.0 , 10.0 to 100.0 , and so on.
For 1.0 to 2.0 and 5.0 to 10.0 , this script split a segment as 270 grids.
For 2.0 to 5.0 , this script split a segment as 360 grids.
The last step is display the next grids to the daily low and daily high.
Maybe also display the grids behind grids shown.
Parameters
x1,x2,x3,x4 : display the next x1,x2,x3,x4 grids to daily high and daily low. 1 means the next grid to daily high and daily low. 2 means the next grid to 1.
x_seg : default 2.0 . This script split from 1.0 to 10.0 into three segments. One is 1.0 to x_seg. The second segment is from x_seg to 10.0/x_seg . The third segment is from 10.0/x_seg to 10.0 .
x_grid1 : how many grids in the first segment
x_grid2 : how many grids in the second segment
x_lowprice : add this number for bigger grid distance. Generally, you don't need this number when trading forex but you may need it in stock trading. For stocks with price between 50 to 100, I recommend you use x_lowprice=100.
Conclusion and suggestions
This script can find potential grids for trading.
If price touches grids usually, we can consider buy and sell after price touches grids.
If price reverses before touching grids usually, we may consider buy and sell before price touches grids.
Those grids can remind us don't buy too much unless the price touches the next grid.
For instruments with less volatility, maybe we need more grids.
For traders with more money, they may also consider more grids for more dedicated range trading to collect more profit.
Reference
Sorry, I forgot them.
Highs-Lows Bands Trend FollowingTwo bands formed by moving averages of highs and lows.
The lower band should provide zone of support in uptrends while the upper band should provide zone of resistance during downtrends.
Bands that turn green in bullish trends should provide buy signals while bands that turn red in bearish trends should provide sell signals.
Divina - Support and ResistanceGiven the positive feedback received on the first Dynamic Support/Resistance script, I've decided to rewrite it on Pine Script v5 and publish it with open source code.
The main Divina area (box) is derived from change in price and volume, while the other support and resistance levels are based on the golden ratio (Divina proportione) or Fibonacci numbers.
The box will start to paint if the previous closed bar satisfy a condition and it will be never be repainted in the future. Anyway the box and the levels will be extended until a new signal is detected.
The Divina Support and Resistance will help you to find good price zones on wich the market might take trading decision. It is not a strategy by per se, it should be used with other good trading techniques.
All-Time High with Percentage Drops for ETF's and Large CapsPlots the percentage drop levels from the All-Time High of any ticker. You can use this within a pullback trading system. For example, if you historically look at the average pullback of large cap stocks and ETF's, you can use this indicator to plot the levels it could pullback to for an entry to go long. It can be used as potential targets when trading a ticker short. Another use for this is to backtest the set percentage targets using TradingView's bar replay feature to see how ETF's and large cap stocks have reacted at these levels.
Currently percentage levels are statically set to 1, 2, 3, 5, 7, 10, & 20% levels below the All-Time High.
*Not financial advice but in my opinion the current percentage levels set (see above) are best used for ETF's and Large Cap Stocks.
Auto S/R v2This script allows users to plot automatic support and resistance lines on their chart from any timeframe. This allows them to automatically overlay daily support and resistance lines on an intraday chart.
1. First we get a value from a 5 bar pivot.
2. From that pivot we calculate the ATR.
3. We draw lines above and below by either adding or subtracting from our value in step 1.
The user has the option to turn off the price labels, set the number of lines they want displayed, and adjusting the closeness of each line by using the adjuster.
Support/Resistance LinesThis script displays support and resistance lines at the levels you enter in the Input Settings. It does not perform the S/R calculations.
It allows you to:
Enter up to 6 support and 6 resistance lines each; any with value of 0 will be hidden
Specify one ticker that it applies to, so the lines will be hidden if you switch charts
Set the text size, color, horizontal offset, and whether to display the price values for each line
Set the color, transparency and line type for the S/R lines
High Volume Price Levels x3This script detects recent huge volume areas to help you finding out good support and resistance levels.
For each of the 3 periods (defaults : 100, 200, 500) a new line will be drawn from the last time the volume amount exceeded n% (default 99%) of the highest volume on the same period, to the next occurence.
Most of time, these lines represent strong support and resistance levels which can be helpful in your technical analysis.
Options:
Volume trigger level: represents the minimum % of the highest volume within the given period on which you want to draw a new price level. (But higher this % is, stronger the levels will be)
Periods: The reference periods for high volume detection.
Show period: Enable/Disable the use of any period.
Period Color: Select a color correspondig to each period.
Show current levels only: Disable drawing of previous levels, to display current levels only.
Extend last level: Extend current lines to right/left/both or none sides of your chart.
Notes:
Sometimes, the last detected level from every periods can be the same at the same moment. In this situation, you'll only see one or two of the lines instead of three.
I'd like to figure out how to continuously draw every interesting levels without making the chart unreadable. Of course this script will be updated if I find a good way to do it.
Feel free to suggest any improvements/modifications.
Example:
No Duplicates Interval Range & EQGenerates Range & EQ levels and removes duplicates. Prioritizes by higher timeframe for duplicates. For example, on Monday's open, weekly open is displayed while daily open is hidden automatically.
