OPEN-SOURCE SCRIPT
Multi Oscillators Price Levels
Updated
This script draws price levels corresponding to the highest price reached in overbought situations, and the lowest price reached in oversold situations, depending on the oscillator and the timeframe the user has configured.
These levels correspond, most of time, to good supports and resistances prices.
Price levels drawings can be based on the following indicators:
You can customize this indicator with the following options:
Here are a few examples of different configurations:
This script will probably be modified in the future, don't hesitate to suggest any improvement.
These levels correspond, most of time, to good supports and resistances prices.
Price levels drawings can be based on the following indicators:
- Stochastic RSI (default)
- Stochastic CCI
- RSI
- CCI
You can customize this indicator with the following options:
- Source: The candle source to use in indicators calculation
- Source Indicator: The indicator on which you cant to base your levels
- Timeframe: The timeframe on which you want to apply the selected indicator, and calculate levels
- Show supports/resistances: enable/disable price levels, depending on there status (overbought - resistances) / (oversold - supports)
- Lines width: width of price levels. (set to 10 by default in order to draw "zones")
- Supports/Resistances source: Select the candle data you cant to use to draw supports and resistances levels
- Extend levels: Select the line extension for price levels
- Levels color: Select the desired color for price levels
- And of course , all parameters corresponding to the supported indicators (Stoch, RSI, CCI)
Here are a few examples of different configurations:
This script will probably be modified in the future, don't hesitate to suggest any improvement.
Release Notes
Updates:- Supports and resistances are now represented in different colors
- Default timeframe is now the current one
- Support and resistances are not extended anymore in order to avoid chart overloading
- Default parameters are now RSI(14) based on the candles closing price
Release Notes
Levels extension added, but set to None by defaultOpen-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.
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.