Dynamic Support & Resistance Lines

📊 Dynamic Support & Resistance Lines - AI-Based Price Level Detection
Overview:
This advanced indicator intelligently identifies and tracks key support and resistance levels using a proprietary algorithm that analyzes price action patterns. The indicator dynamically updates multiple layers of support and resistance lines, providing traders with critical decision points for entries, exits, and stop-loss placement. With integrated smart alerts, you'll never miss important price movements at critical levels.
Key Features:
🎯 Multi-Layer Support & Resistance System:

Primary trend lines (Blue/Red) connecting global extremes with recent key levels
Secondary resistance lines from last 5 and 10 significant price points
Secondary support lines from last 5 and 10 significant price points
All lines extend to the right for forward-looking analysis
Dynamic updates as new key levels form in real-time

⚙️ Highly Customizable:

Adjustable timeframe analysis (works on any timeframe)
Control the number of key levels tracked (10-50 bars, default: 30)
Customize colors, styles (Solid/Dashed/Dotted), and widths for all line types
Toggle visibility of primary trend lines
Separate styling controls for each resistance and support layer
Individual color coding for clear visual distinction

📈 Smart Algorithm:

Automatically identifies significant price levels based on volatility expansion patterns
Tracks up to 50 historical key levels for comprehensive analysis
Primary trend lines connect absolute extremes with the highest/lowest from the last 3 key levels
Secondary lines provide multiple layers of potential support/resistance zones
Continuously adapts to market conditions and price structure changes

🔔 Intelligent Alert System:

New Key Level Alerts: Instant notification when the algorithm identifies a new significant price level
Resistance Touch Alerts: Get alerted when price approaches or touches any resistance line (Resistance 1, Resistance 2, or Upper Trend Line)
Support Touch Alerts: Receive notifications when price approaches or touches any support line (Support 1, Support 2, or Lower Trend Line)
Breakout/Breakdown Alerts: Critical alerts when price breaks above upper trend line or below lower trend line
Adjustable Touch Sensitivity: Fine-tune alert triggers with customizable percentage threshold (0.01% - 1.0%)
Anti-Spam Protection: Built-in 3-bar cooldown system prevents excessive duplicate alerts
Fully Customizable: Enable or disable specific alert types based on your trading strategy and preferences
Multi-Notification Support: Works with TradingView's popup, email, SMS, and webhook notifications

🎨 Visual Clarity:

Color-coded lines for easy distinction between resistance (orange tones) and support (green tones)
Clean, professional appearance suitable for all chart styles
Minimal clutter - only shows the essential support and resistance lines
Distraction-free interface for focused trading decisions
Professional color scheme that works in both light and dark modes

How to Use:
Initial Setup:

Timeframe Selection: Choose your preferred timeframe for analysis (current chart timeframe by default)
Number of Key Levels: Adjust how many historical levels to track (default: 30, range: 10-50)
Customize Appearance: Modify colors, line styles, and widths to match your trading setup and chart theme

Understanding the Lines:

Blue line: Upper primary trend line connecting the highest global extreme with the strongest recent resistance
Red line: Lower primary trend line connecting the lowest global extreme with the strongest recent support
Orange lines (Resistance):

Solid orange: Resistance level from the last 5 key levels
Semi-transparent orange: Resistance level from the last 10 key levels


Green lines (Support):

Solid green: Support level from the last 5 key levels
Semi-transparent green: Support level from the last 10 key levels



Setting Up Alerts:

Click the "Create Alert" button (clock icon) on your TradingView chart
In the Condition dropdown, select "Dynamic Support & Resistance Lines"
In the indicator settings, enable your desired alert types:

Toggle "Enable Alerts" ON
Select which alert types you want (New Level, Resistance Touch, Support Touch, Breakout/Breakdown)
Adjust "Touch Sensitivity %" to control how close price needs to be (default: 0.1%)


Choose your notification method (Popup, Email, SMS, Webhook)
Set alert frequency to "Once Per Bar Close" for best results
Name your alert and click "Create"

Trading Applications:
For Day Traders:

Use on 5-min to 15-min timeframes for intraday support/resistance
Set alerts for resistance/support touches to catch reversals
Watch for breakout alerts to enter momentum trades
Use multiple timeframe analysis for confluence

For Swing Traders:

Apply on daily or 4-hour timeframes for multi-day levels
Monitor trend line breaks for position entries
Use resistance/support zones for profit targets
Enable new level alerts to update your trading plan

For Position Traders:

Implement on weekly timeframes for long-term structure
Track major support/resistance for portfolio decisions
Use primary trend lines for overall market direction
Set breakout alerts for major trend changes

Best Practices:

Use on multiple timeframes simultaneously for confluence confirmation
Combine with volume analysis to validate support/resistance strength
Watch for price reactions at line intersections (highest probability zones)
Pay special attention when multiple lines converge in the same area
Lines extending right project future support/resistance zones - use for planning
Set alerts before key trading sessions to catch early moves
Adjust touch sensitivity based on asset volatility (higher for crypto, lower for forex)
Review alert history to identify which levels produce best trading opportunities

Technical Details:

Maximum 500 lines for optimal performance and chart clarity
Real-time updates as new key levels form - no repainting
Works on all instruments (stocks, forex, crypto, commodities, indices)
Compatible with all timeframes from 1-minute to monthly
Transparent, semi-transparent, and solid line style options
Efficient algorithm designed for minimal CPU usage
Alert system processes on confirmed bar close only (no false signals)

What Makes This Different:

Unlike static support/resistance indicators, this tool dynamically adapts to changing market structure
Proprietary algorithm identifies high-probability levels that traditional indicators miss
Multi-layer approach provides both immediate and historical context
Smart alert system saves screen time while keeping you informed
Professional-grade tool suitable for both beginners and advanced traders


⚠️ RISK DISCLAIMER:
This indicator is provided for educational and informational purposes only. Trading stocks, futures, forex, options, and cryptocurrencies involves substantial risk of loss and is not suitable for every investor. Past performance is not indicative of future results.
USE AT YOUR OWN RISK. The creator of this indicator assumes no responsibility for any financial losses incurred through the use of this tool. Support and resistance levels are analytical tools and do not guarantee future price movements. Always conduct your own research, implement proper risk management, and consult with a licensed financial advisor before making trading decisions.
No Financial Advice: This indicator does not constitute financial, investment, or trading advice. All trading decisions are solely your responsibility.

📬 GET STARTED:
For Trial Access:
Interested in trying this indicator before committing? Send me a direct message through TradingView with "Trial Request" in the subject line, and I'll provide you with temporary access details and setup guidance.
Need Support?

Questions about setup or configuration
Alert troubleshooting
Custom settings recommendations
General indicator inquiries

Contact: Send a direct message via TradingView for questions, support, feature requests, or trial access.

💡 Pro Tips:

Start Simple: Begin with default settings and only one or two alert types enabled
Optimize Sensitivity: Test different touch sensitivity values for your specific asset and timeframe
Layer Your Analysis: Combine this with volume indicators and price action for best results
Document Performance: Keep track of which alert types produce the best trading opportunities for you
Multiple Timeframe Setup: Run the indicator on 2-3 different timeframes for comprehensive market view
Alert Management: Use specific alert names (e.g., "SPY 5m Resistance Touch") for quick identification