Support Resistance - Dynamic

This is Dynamic Support / Resistance script.

How it Works?

It finds Pivot Points and creates channels for each Pivot Point . Channel size is calculated by (Highest - Lowest) * %Channel_size in Loopback Period. After creating channels it calculates that how many Pivot Points in the channels. more Pivot Points in channel means stronger Support/Resistance . in the option menu there is S/R Strength, this is the minimum number of Pivot Points that each channel must contain to be S/R. calculation starts from last pivot point and go back for "loopback period" which is 300 by default. so last Pivot Points have more priority. Finally after calculating Support/Resistance it draws lines.

Number of Support/Resistance line is Dynamic and up to 20 lines, that means number of lines changes dynamically. you can see how the script puts Suppport/Resistance lines dynamically by "Replay" button. (if I have time I will try to put a video)

Currently the scripts checks up to 40 pivot points in loopback period. it shows up to 20 S/Rs only for visible area in the chart.

There is option to Show S/R lines as Solid, Dotted or Dashed.

Feb 26
릴리즈 노트: Add LineColor option. Blue, Red, Lime, White, Black color can be selected as line color.
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Thanks for sharing this! Just 1 little thing it seems like it's glitching out for me, I'm not seeing the horizontal lines for some reason?
+3 응답
@jacobvl_, I think there is bug about lines in Pine, try zoom in - zoom out, then lines will appear.
+3 응답
+2 응답
Hi Lonesome TheBlue, can we take the data from excel sheet to draw support resistance lines, if yes please share the code, thank you for your efforts.
+1 응답
@piuspinto19, no with this platform
I'm not seeing the lines
+1 응답
@Lij_MC, try zoom-in and zoom-out
very useful, thanks
+1 응답
Many thanks
+1 응답
Thanks a lot
+1 응답
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