OPEN-SOURCE SCRIPT

[ST] S/R density study v3

This algorithm draws supports/resistance levels automatically based on historic candle density at each height. The basic idea is the levels where price is rejected quickly is likely to have fewer candles in the past than the levels above and below. This does not take volume into account. The lookback and number of levels has to be kept low to prevent too many calculations. I haven't looked if there's new pinescript features to let me do this more efficiently yet.

It checks for candle density to decrease once or twice and then increase once or twice before it draws a line at that lowest level. There's an option to draw more lines by only checking for a single decrease and increase.

It likely won't catch all the levels but it seems to get a good amount to help me position stops on other side of S/R or exits on the trade side of S/R.

I've been meaning to share more scripts but keep forgetting. Keeping my scripts free but feel free to like or tip haha.

快照

levelssupportSupport and ResistanceVolatility

开源脚本

本着真正的TradingView精神,此脚本的作者已将其开源,以便交易者可以理解和验证它。向作者致敬!您可以免费使用它,但在出版物中重复使用此代码受网站规则约束。 您可以收藏它以在图表上使用。

想在图表上使用此脚本?

免责声明