PROTECTED SOURCE SCRIPT
Support & Resistance Filter
Updated
Visualize support and resistance levels with a high level of user control. Tired of meaningless, tightly clustered, support and resistance lines (shouldn't those just be considered bounces)? Just filter them out with the Bounce Filter. Want to visualize S&R in a crisp, clear new way? Use "Areas of S&R". Want to have a ridiculous amount of control over what counts for support and resistance in the first place? Use the Swing Filter (built-in). Perhaps most interesting... ...want to see support and resistance for (say) Bitfinex-BTC/USD on a Coinbase chart to see how they affect Coinbase candles? Then check out the advanced settings and have fun ;)
Support & Resistance levels are determined by historic pivots (swings). If a price breaks through the first resistance level, it may really take off. If it breaks through the second level, or through all five resistance levels, you might be on your way to the moon (Lambos not included). The inverse is true when the price breaks-down, through support levels.
5 Levels of Support and 5 levels of Resistance are available.
In a very bullish or bearish situation, searching back in time for the next highest Support or Resistance level can become quite demanding on TradingView's server. I've pushed it to the limit:
When TradingView's servers are getting a little bogged down, you may get an error about "a loop being longer than 100ms". That just comes with the territory of searching so many candles back. To resolve it, just click "Force Reload" in the settings.
I'd love to post the manual, the instructions for the settings, here in the description, but the publishing policy sets a limit as to how long these descriptions can be. So check the comments for a manual on how to use this indicator. And if you'd like to plug this kind of indicator into your scripts, just contact me for custom work.
~jdhadwin
Support & Resistance levels are determined by historic pivots (swings). If a price breaks through the first resistance level, it may really take off. If it breaks through the second level, or through all five resistance levels, you might be on your way to the moon (Lambos not included). The inverse is true when the price breaks-down, through support levels.
5 Levels of Support and 5 levels of Resistance are available.
In a very bullish or bearish situation, searching back in time for the next highest Support or Resistance level can become quite demanding on TradingView's server. I've pushed it to the limit:
- R2 & S2 look back 1,000 candles
- R3 & S3 look back 2,250 candles
- R4 & S4 look back 3,500 candles
- R5 & S5 look back 4,999 candles
When TradingView's servers are getting a little bogged down, you may get an error about "a loop being longer than 100ms". That just comes with the territory of searching so many candles back. To resolve it, just click "Force Reload" in the settings.
I'd love to post the manual, the instructions for the settings, here in the description, but the publishing policy sets a limit as to how long these descriptions can be. So check the comments for a manual on how to use this indicator. And if you'd like to plug this kind of indicator into your scripts, just contact me for custom work.
~jdhadwin
Release Notes
This update handles the merging of resolutions from other sources more accurately than version 1.0Version 2.0 also fixes a Support-Levels bug that ignored changes to the Swing-Low Bars-Left settings.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.