ElectronixTrader - Multi-Timeframe S/R

This script is a powerful multi-timeframe tool designed to help traders identify key support and resistance levels for both intraday and swing trading. It's a custom-built indicator that projects Bollinger Band levels from a higher timeframe onto your current chart, providing a unique perspective to filter out market noise and focus on high-probability trading zones.

The core principle is that significant price levels established on a daily or weekly chart can act as powerful support and resistance points on a lower, intraday timeframe. This helps traders align their entries and exits with the broader market context.

Key Features:

Dynamic Levels: The support and resistance lines are not static. They are automatically calculated and updated at the start of each new higher-timeframe candle, providing fresh and relevant levels.

Multi-Timeframe Capability: Easily switch the input timeframe (e.g., Daily to Weekly) to adapt the indicator for your trading style, from intraday to swing trading.

Disclaimer:
Trading involves significant risk, and past performance is not a guarantee of future results. This tool is for informational and educational purposes only and should be used in conjunction with your own risk management and trading plan.

A Note on Originality:
This indicator uses a unique application of built-in functions to project dynamic, higher-timeframe levels. While it is based on classic concepts, the specific methodology of projecting and consistently plotting these zones across different timeframes provides a unique and actionable tool for traders.