This script automatically detects horizontal support / resistance levels based on user-programmable criteria.
For example, you can detect boundaries with >3 touches within 200 days, allowing a tolerance of 1/4*ATR.
"Touches" are defined from pivots on the chart. The best way to search for larger/smaller patterns is to increase/decrease the pivot size.*
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When I looked for something like this I couldn't find it. Although simple in appearance, this script was actually quite long and complicated to create. It allows you to break up any horizontal space in up to 24 lines. Just remember that 13 lines equal 12 levels, as the top and bottom lines are the placeholders. So, if you are using quarters theory, you would...
The simple script allows you to subdivide and price range into a number of equal segments. For example, you can divide 50,000 to 60,000 into 2,4, or 7 lines. You can also set the beginning date and the end date. This can be useful as prices tend to hover around whole numbers or ratios of whole numbers.
You must use settings to set the number of lines and the...
![USDNZD: Pivot Pattern Boundaries [cajole]](https://s3.tradingview.com/h/hsEFLsr7_mid.png "Pivot Pattern Boundaries [cajole]")
