Support & Resistance Aries

Support & Resistance Aries
This indicator automatically identifies support and resistance levels based on the highest and lowest closing prices within a configurable period.

How it works:
The user sets a calculation period (default is 20 candles).

The indicator plots:

Green line = Support: lowest closing price within the period.

Red line = Resistance: highest closing price within the period.

Adjustable parameter:
Calculation Period (1 to 200): defines how many candles are used to find the price extremes.

Purpose:
Helps users quickly visualize dynamic support and resistance zones that adjust as price evolves, making it easier to identify areas for potential entries, exits, and stop placements.

Important:
This indicator should not be used as a standalone buy or sell signal, nor as a trend confirmation tool on its own.
It is recommended to use it in combination with other technical analysis tools such as MACD, RSI, Volume, Moving Averages, among others, for a more complete market view.

Disclaimer:
Investing involves financial risk. Be cautious with both profits and losses. Always define a stop loss to avoid larger losses if the trend reverses.
One of the golden rules in trading is: a trader should not lose more than 3% to 5% of their capital per trade. Protecting your capital should always be the priority.

版本注释

Thank you all.

版本注释

Update:
Improved line colors using custom RGB values.
Added customizable background color.
Included background offset setting (0 = normal, up to 20).
Recommended background offset: 4.

版本注释

update colors thanks

版本注释

update label colors

版本注释

Update labels without background, text only, with offset unlocked (allow zero offset)

版本注释

"Sound Alerts Update"