[TheMandalor] Invert or Mirror Chart SUPPORT RESSISTANT
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This is a new idea to find supports and resistant’s for any charts.
What is the concept of this indicator: 1. It is used close and inverted it on chart 2. When the real chart and the inverted chart is crossing together several times, this point will be important on this concept that means the price will care about this point again and again. 3. When you draw a horizontal line as support and resistance check it with this indicator too, if your support and resistance is touched with inverted chart, it will be more important than normal support/ resistance. 4. This indicator has plot candle too, it means you can compare regular chart with the inverted one at same time if you need.
Here is the steps: 1. When you add the indicator to your chart it will add your ticker as inverted. 2. Change your chart type to line chart. 3. Fix your scale in both sides left and right (the indicator's side is on the left). 4. Now you must have two type of line charts, one is yours (The blue one) and one is plotted with this indicator (The purple one). 5. Draw a horizontal line where these two lines have more crossing at the middle of chart, this line will be a powerful line later. 6. Find other more crossed points and draw horizontal line for them too. 7. Now you can see these indicator's support and resistant’s, now you can remove the indicator and watch how the price will touch, reverse, or stay on your new type of support and resistant’s lines.
PS: I have added candle plotting too if you need it.
오픈 소스 스크립트
In true TradingView spirit, the creator of this script has made it open-source, so that traders can review and verify its functionality. Kudos to the author! While you can use it for free, remember that republishing the code is subject to our House Rules.
For quick access on a chart, add this script to your favorites — learn more here.
In true TradingView spirit, the creator of this script has made it open-source, so that traders can review and verify its functionality. Kudos to the author! While you can use it for free, remember that republishing the code is subject to our House Rules.
For quick access on a chart, add this script to your favorites — learn more here.