// % size is above the threshold set by the user it is plotted with light blue (these aren't really the significant ones) and are put into an array.
// These large wick lines are great S&R lines but we're looking to filter out to only the best ones. So, after all the large wicks are recorded for the
// chart and lines drawn, it then calculates the area between each of these lines in % (you can think of the lines as the upper and lower lines to a box
// if you'd like... ie . it is one of the ways to view the final BEST S&R lines). What we are want is the largest of ALL the % areas between lines and to
// use these as our ultimate S&R Areas. Depending on the Min % Wick size that is chosen, you will find price usually either bouncing between these levels or
// that price will keep bouncing off of the same level until a large spike (up or down) occurs in price and the price will finally breach the level its been
// testing over and over. Once this DOES occur the level that was just broken many times will be the furthest point back for the retest. Now, as stated
// before there are 2 ways to view the output data. Either way it will show the largest % area between the lines as it is developing down the line of
// progressing bars on the chart (that means it WILL change but usually a portion of the previous area/box will be used for the newer smaller box or that
// the area/box will jump back and forth between the same few areas every now and again). Viewing it as a box will show the updated largest box
// (as stated twice now) but viewing it in it's S&R Line form will draw a new S&R line at the top and bottom of where the box would be if it was selected
// EXCEPT that these lines will persist across bars and you will continuously see how these levels will continue to be revisited and constantly used
// as S&R Lines as time progresses. (SO box only show the largest area and lines draws line at the top and bottom of box and persists across bars).
// There is not repainting that can occur. I hope you all enjoy this as I've found it EXTREMELY beneficial bc it's rare that when price first gets to a
// printed S&R level that it will shoot through it so you can depend on it bouncing off the the levels often multiple times. I've included comments in all
// of the code for your convenience. Also, the higher subscription plan you have (thus the more bars/data you have access to...the more S&R Lines will be drawn).
// Wish you all the best in your endeavors and may the force be with your trades, and as ALWAYS...Peace and Love people....Peace and Love. -ChasinAlts out.
Dentro do verdadeiro espírito TradingView, o autor deste script publicou ele como um script de código aberto, para que os traders possam compreender e checar ele. Um viva ao autor! Você pode usá-lo gratuitamente, mas a reutilização deste código em uma publicação é regida pelas Regras da Casa. Você pode favoritá-lo para usá-lo em um gráfico.
As informações e publicações não devem ser e não constituem conselhos ou recomendações financeiras, de investimento, de negociação ou de qualquer outro tipo, fornecidas ou endossadas pela TradingView. Leia mais em Termos de uso.