S/R Clouds

Overview

The S/R Clouds Indicator is a sophisticated TradingView tool designed to visualize support and resistance levels through dynamic cloud formations. Built on the principles of Keltner Channels, it employs a central moving average enveloped by volatility-based bands to highlight potential price reversal zones. This indicator enhances chart analysis with customizable aesthetics and practical alerts, making it suitable for traders across various strategies and timeframes.

Key Features





Dynamic Bands: Calculates upper and lower bands using a configurable moving average (SMA or EMA) offset by multiples of the average true range (derived from high-low ranges), capturing volatility deviations for precise S/R identification.



Cloud Visualization: Renders semi-transparent clouds between primary and extended bands, providing a clear, layered view of support (lower) and resistance (upper) areas.



Trend Detection: Incorporates a trend state logic based on price position relative to bands and moving average direction, aiding in bullish/bearish market assessments.



Customization Options:





Select from multiple color themes (e.g., Neon, Grayscale) or use custom colors for bands.



Enable glow effects for enhanced visual depth and adjust opacity for chart clarity.



Volatility Insights: Monitors band width to detect squeezes (low volatility) and expansions (high volatility), signaling potential breakouts.



Alerts System: Triggers notifications for price crossings of bands, trend changes, and other key events to support timely decision-making.

How It Works

At its core, the indicator centers on a user-defined period moving average. Volatility is measured via an exponential moving average of the high-low range, multiplied by adjustable factors to form the bands. This setup creates adaptive clouds that expand/contract with market volatility, offering a more responsive alternative to static S/R lines. The result is a clean, professional overlay that integrates seamlessly with other technical tools.

This high-quality indicator prioritizes usability and visual appeal, ensuring traders can focus on analysis without distraction.