This script finds pivot highs and pivot lows then calculates higher highs & lower lows. And also it calculates support/resistance by using HH-HL-LL-LH points.
Generally HH and HL shows up-trend, LL and LH shows down-trend.
If price breaks resistance levels it means the trend is up or if price breaks support level it means the trend is down, so the script changes bar color blue or black. if there is up-trend then bar color is blue, or if down-trend then bar color is black. also as you can see support and resistance levels change dynamically.
If you use smaller numbers for left/right bars then it will be more sensitive.
free to use but the code is hidden and not free of charge, if you want the code please send me message.
comments are welcome.
릴리즈 노트
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A few corrections in the code.
릴리즈 노트
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Added Alert (when there is bar color change) - by request
@LonesomeTheBlue, Is that one the same? This script allows to turn on buy and sell indicators. The other one does not?
cryptozone
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how do the alerts work for the support/resistance? for example if I wanted to set alert on resistance cross, it doesn't seem to work since I get alerted when it is not crossing current resistance line
Joy_Bangla
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Highly recommend anyone to use this. I have been using this for months. It is wonderful. Thanks mate.
The chart is making a higher high but the indicator still mark it as Lower high
imgur.c om/5uN2z2C