PROTECTED SOURCE SCRIPT
Dynamical Support and Resistance [Fournier-Eaton]
Updated
The Dynamical Support and Resistance Indicator finds support and resistance levels.
The plot is price relative: if the indicator nears one of its supports or resistances then the price is likewise nearing a support.
The levels are dynamical: once a support or resistance is broken, a new calculation is performed.
There are 3 supports and 3 resistances each with a longer time-frame. Breaking through the first shouldn't signal much, breaking through the third is programmed to only happen at a significant number of standard deviations.
Enjoy. Feedback appreciated
The plot is price relative: if the indicator nears one of its supports or resistances then the price is likewise nearing a support.
The levels are dynamical: once a support or resistance is broken, a new calculation is performed.
There are 3 supports and 3 resistances each with a longer time-frame. Breaking through the first shouldn't signal much, breaking through the third is programmed to only happen at a significant number of standard deviations.
Enjoy. Feedback appreciated
Release Notes
- Clearer Upper and lower levels
- Enhanced performance in higher volatility
- More responsive tight-bound levels.
Release Notes
- Clearer zones by coloring- Better self-adjusting look-back.
Protected script
This script is published closed-source and you may privately use it freely.
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