This script helps identify swing high levels of resistance and swing low levels of support via price action.
The indicator is designed to help identify support and resistance by measuring retracements. When the retracement has reached the threshold, the indicator identifies the high or low with a horizontal, solid line.
This line will...
The indicator shows the fractals where stop-losses may be located and can be used to trade from their taking.
You can adjust the length of the fractal (the number of bars with which it is surrounded on both sides, to confirm the validity).
You can also display lines from fractal points for clarity.
To keep the chart clean, you can enable deletion of...
Support and Resistance Multiperiod (Zig Zag Based)
What is the indicator?
• The indicator is a multi period (up to 5 lengths) Support and Resistance indicator calculated based on Zig Zag.
Who can use?
Scalpers to Long term investors
What timeframe to use?
• Any timeframe
What are the lines?
• Green lines are Support levels.
• Orange lines are...
// Draw swing Lines based on SMA
// Each swing line must cross SMA
// sma(Number): Default 50;
// showSMA: Default 'true'; if showSMA ='false', do not show SMA line;
// Deviation(%): Default "1"; To draw a new swing line, Price must cross SMA more than (n% of SMA)
// In weekly...
Candle based indicator that shows swing highs and lows (pivots).
It draws an up or down arrow for simple three candle 'single' swings.
For stronger five candle 'double' swings, it colours the candle. Good for highlighting stronger reversals.
Both of these stylings can be toggled on/off individually.
Swing HIGH on an UP candle: bright...