OPEN-SOURCE SCRIPT

Margin buying pressure levels

Updated

Predicts local tops and resistance levels. Simply enter a strong support level (Settings > Liquidation Support Level), and this indicator shows you levels where margin buying pressure is likely to drop off. This is based off of the assumption that leveraged traders will likely want their liquidation point protected below a strong support level.

2x - blue
3x - green
4x - yellow
5x - orange
10x - red

Release Notes

Seems like a lot of users don't realize they need to enter a base support level before the pressure levels can be drawn. Added a message to help clarify, along with some tips for choosing a support level and using the tool (new table functionality is nice!)

Release Notes

Update to replace script chart.

Release Notes

Enhancements/fixes:
(1) Added 7x level
(2) Added ability to turn levels on/off
(3) Added ability to customize level color
(4) Properly defaulting level values

Release Notes

Added custom plot transparency

Open-source script

In true TradingView spirit, the author of this script has published it open-source, so traders can understand and verify it. Cheers to the author! You may use it for free, but reuse of this code in publication is governed by House rules. You can favorite it to use it on a chart.

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