Classical Supports & Resistances

2020년 6월 18일

This indicator shows classical resistance and support levels which retraced the chart lately. Notice that the condensed lines laying close together are showing an area of support and/or resistance.
But after all, it was a tedious work creating this indicator because like I've already said, pine script is a very odd and weak language which does not have many ordinary features like useful loops, simple line drawing and even reasonable variable casting!
So I was forced to use its built-in pivothigh() and pivotlow() functions without any handy documentation. I assume that even these functions don't work as expected, and because of that, I embedded "Sensitivity" and "Lookback Time" options in the indicator as a workaround.
Feel free to use it and send me your comments/solutions.

2020년 7월 14일

릴리즈 노트

A little change
Added an option to use bars for looking back instead of time

2020년 11월 16일

릴리즈 노트

Count of levels on the chart has been increased.