Identify horizontal support and resistance lines using your choice of 6 methods.
- Lookback window: Number of bars back to consider in calculations
- Lookback window right (only applicable for methods 3 and 4): Number of bars to the right to consider in calculations
- Number of S/R lines to plot: S/R lines to plot (currently the max setting is 4 so 8 lines due to pine limitations. I can post separate scripts for each method that allow more depending on user feedback)
- Use Custom Time Frame? ( M1 , M6, M5 only work if viewing lower TF): Set a custom timeframe in minutes, then 1D for daily, 3D for 3 daily etc.
- Calculation offset: How many of the most recent bars to ignore in the calculations.
- Update Frequency: How many bars to wait until updating the lines since the last update.
Things to tweak.
Link to Indicator
- I still need to test the methods, depending on that and feedback I can post separate scripts for each method that allow more depending lines or scrap some.
- I'll tweak the parameters for using linebreaks to scrap them. Currently required a three close through it (so two in one direction and one in the other).
- Fibs don't work on the static timeframe as I've reached certain restriction in the coding system.
Below are some examples using the default settings (which I have not optimized as of yet)
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