INVITE-ONLY SCRIPT
Multi-Level Support & Resistance (ChartJay)
This indicator automatically detects and displays multiple key support and resistance levels using pivot highs and lows.
Unlike basic support/resistance tools that only show one recent level, this script identifies and maintains multiple significant price zones on the chart.
How It Works
• Detects pivot highs and pivot lows
• Stores multiple historical levels
• Merges nearby levels within a user-defined tolerance
• Increases line thickness as levels are tested more often
• Extends lines to the right for forward reference
The more a level is tested, the stronger and thicker it becomes.
Unlike basic support/resistance tools that only show one recent level, this script identifies and maintains multiple significant price zones on the chart.
How It Works
• Detects pivot highs and pivot lows
• Stores multiple historical levels
• Merges nearby levels within a user-defined tolerance
• Increases line thickness as levels are tested more often
• Extends lines to the right for forward reference
The more a level is tested, the stronger and thicker it becomes.
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