getmohsin.py

Automatic Support & Resistance

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The indicator attempts at automatic detection of support and resistance levels by identifying large swings/ pivots in historical price action. These tops and bottoms in price action show where lots of buyers or sellers came into the market and might act as future levels of support or resistance. By default, the code detects the last 3 significant swing highs and the last 3 swing lows. It then places lines on the chart to highlight those levels.

Once you are comfortable with the code base and how the indicator operates, you may wish to expand upon it. One obvious addition to make would be inputs for the "Left Bars", "Right Bars" and "Quick Right" variables so that you can tune the indicator according to your own taste.

Feel free to tweak the code and let everyone know in the comment section if you are able to improvise it.

Happy trading:-)
Notas de Lançamento: This is an updated version of existing "Automatic Support & Resistance"

This version will allow you to draw Automatic S/R levels based on "Close values" or "High/Low values"

I personally find S/R levels with "Close values" to be are more precise and effective while trading breakouts, hence the need for the update.

Please let me know your thoughts in the comments section below.
Notas de Lançamento: Publishing version 0.2 with the correct display chart
Notas de Lançamento: Correcting some mistakes. Apologies for that :)
Open-source script

In true TradingView spirit, the author of this script has published it open-source, so traders can understand and verify it. Cheers to the author! You may use it for free, but reuse of this code in a publication is governed by House Rules. You can favorite it to use it on a chart.

Quer usar esse script no gráfico?

Comentários

Thank you, I’m new-
How do I add this to my trading view charts? and does it work for all time frames? This is exactly what I was looking for.
+41 Resposta
@RBiss, Hi, you can search for "Automatic Support & Resistance" by getmohsin.py from the indicator library/market and add it from there. It works on all timeframes :)
Resposta
@getmohsin.py
How do i make this static and only want to use 1 Hour tmeframe for multiple support and resistance and keep same s/r for smaller time frame?
By the way cool script.
+17 Resposta
getmohsin.py TradingManoz
@TradingManoz, thanks bro. Also, nice idea. We won't be able to that with current code. Maybe sometime in the future, I will write another indicator for this :)
Resposta
do red lines means resistance and green means supports? confused because some charts on 1 min TF shows Green lines only...
+9 Resposta
Could you explain the way you're using valuewhen here? It's supposed to take a condition as a first argument. Can the condition also just be the price? Or does it for instance find when picot_high was equal to close ?
+8 Resposta
Nice, much appreciated :)
+5 Resposta
getmohsin.py Pratik_4Clover
@Pratik_4Clover, You are welcome buddy!
+2 Resposta
Nice work man !
+2 Resposta
Looks neat, thanks for sharing!
+2 Resposta
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