Market Profile based Support/Resistance

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📊 What This Indicator Does
Ever wish the market would just tell you where the important levels are? Well, buckle up, because this indicator is like having a market whisperer on your chart!

Based on cutting-edge hierarchical market structure analysis (fancy words for "smart support and resistance"), this bad boy uses ATR-based Directional Change to identify turning points that actually matter. No more guessing where price might bounce or break—let the algorithm do the heavy lifting while you sip your coffee ☕

🎯 The Five Levels Explained (From Noisy to Mighty)
Think of these levels like a pyramid of importance. Level 0 is your chatty friend who notices everything, while Level 4 is the wise oracle who only speaks when it really matters.

Level 0: The Hyperactive Scout 🐿️
What it does: Catches every little zigzag in price using ATR confirmation
Significance: Very short-term, intraday noise
Best for: Scalpers who love action every few minutes
Trader Type: "I refresh my chart 100 times an hour"
Reliability: ⭐⭐ (It's enthusiastic but easily excitable)

Level 1: The Day Trader's Buddy 🎯
What it does: Filters Level 0 to show minor swing highs/lows
Significance: Intraday support/resistance, hourly structure
Best for: Day traders, scalpers looking for better entries
Trader Type: "I close all positions before dinner"
Reliability: ⭐⭐⭐ (Solid for quick moves)

Level 2: The Swing Trader's Sweet Spot 🎪
What it does: Identifies multi-day to weekly structure points
Significance: Intermediate support/resistance where battles happen
Best for: Swing traders, position traders
Trader Type: "I hold for days, not minutes"
Reliability: ⭐⭐⭐⭐ (Now we're talking real structure!)

Level 3: The Big Money Magnet 💰
What it does: Shows major market structure—where the whales play
Significance: Weekly to monthly levels, institutional zones
Best for: Position traders, trend followers
Trader Type: "I think in weeks and months, not hours"
Reliability: ⭐⭐⭐⭐⭐ (These levels have gravitational pull!)

Level 4: The Market Prophet 🔮
What it does: Reveals ultra-major turning points (think: quarterly/yearly pivots)
Significance: Long-term macro structure, investment-grade levels
Best for: Investors, long-term position traders
Trader Type: "Warren Buffett is my spirit animal"
Reliability: ⭐⭐⭐⭐⭐⭐ (When these break, market's rewrite the story)

⚙️ Parameter Setup Guide (The Secret Sauce)
The magic ingredient is the ATR Lookback Period—think of it as teaching the indicator your timeframe's "dialect." Here's your cheat sheet:

2-Minute Chart ⚡
ATR Lookback: 720 (24 hours of 2-min bars)
Who uses this: Crypto degens, futures scalpers, adrenaline junkies
Show Levels: L0, L1, L2 (L3+ won't budge much)
Pro Tip: Enable only L1 and L2 or your chart will look like spaghetti

5-Minute Chart 🏃
ATR Lookback: 288 (24 hours of 5-min bars)
Who uses this: Active day traders, news traders
Show Levels: L1, L2, L3
Pro Tip: L2 is your best friend here—perfect for intraday swings

15-Minute Chart 📈
ATR Lookback: 96 (24 hours of 15-min bars)
Who uses this: Swing traders, patient day traders
Show Levels: L1, L2, L3
Pro Tip: This is the "Goldilocks zone"—not too fast, not too slow

1-Hour Chart ⏰
ATR Lookback: 168 (1 week of hourly bars)
Who uses this: Swing traders, position traders
Show Levels: L2, L3, L4
Pro Tip: L3 levels here are like magnets for price action

Daily Chart 📅
ATR Lookback: 30 to 50 (1-2 months)
Who uses this: Investors, long-term traders, people with patience
Show Levels: L2, L3, L4
Pro Tip: L4 on dailies = "Don't fight this level, respect it"

🎨 How to Use This Thing
Add to Chart - Duh! 😄
Set Your ATR Lookback - Use the guide above (don't wing it!)
Enable Relevant Levels - Less is more! Turn off levels that just clutter
Watch the Magic - See horizontal lines appear at key S/R zones
Check the Table - Top-right corner shows current levels (fancy!)
Set Alerts - Get notified when price approaches or breaks levels

Trading Strategies 🎲
The Bounce Play:
Price approaches Level 2 or 3 support → Look for bullish reversal signals
Take profit at the next level resistance
Stop loss just below the support level

The Breakout Play:
Price breaks through Level 2/3 resistance with volume → Go long
Next level becomes your target
Failed breakout? Level becomes resistance again (classic fake-out)

The Confluence Play:
When Level 3 aligns with your favorite indicator (RSI oversold, moving average, Fibonacci) → Chef's kiss! 👨‍🍳💋

These multi-confirmation setups are where the money lives

🚨 Important Notes (Read This or Blame Yourself Later)
⚠️ This indicator REPAINTS on the current bar until an extreme is confirmed. That's not a bug, it's how directional change works. The past levels are solid as a rock, but the pending one is still... pending.
⚠️ More levels ≠ Better results. Showing all 5 levels is like having 5 GPS apps shouting directions at once. Pick 2-3 levels max.
⚠️ ATR Lookback matters! Wrong setting = garbage results. Use the guide above or experiment carefully.
⚠️ Volatile markets (crypto, meme stocks) work GREAT with this. Choppy, range-bound markets? Meh.
⚠️ Combine with other tools! This shows you WHERE, not WHEN. Use momentum indicators, volume, or your favorite chicken entrails for timing 🐔

🦜 Final Word from Stock Kaka
Remember: Indicators don't make money, traders do. This tool shows you where the market has historically respected structure. What you do with that info? That's on you, champ!

Use proper risk management, don't YOLO your rent money, and may your stops never get hunted 🎯

Trade smart, trade safe, and let Stock Kaka be your guide!

📝 Credits
Algorithm: neurotrader888 (Python implementation)
Pine Script Conversion: Your friendly neighborhood Stock Kaka team!!
Inspiration: Ginger chai, market inefficiencies, and a dash of chaos

📌 Tags
support-and-resistance market-structure atr directional-change multi-timeframe swing-trading day-trading levels hierarchical-analysis algo-trading