This study will help many friends who are new to market and facing issue while drawing .
I have used inbuilt function PivotHigh and PivotLow to find high and low points for a stock. These points are used then to find .
Resistance = Lower High
Support = Higher Low
1) plotted which you can change based on your requirement.
2) * will show spike => > highest of given period
How to use this study:
1) short term investor: can buy when price is around support line and sell around resistance line.
2) long term investor: can buy near support or breakout of resistance and sell based on swing high low.
Please note: Lines will be drawn only if change in . You may not see lines for bigger trend unless there is change.
Note: My previous indicator was removed by Trading view due to unintentional House rules violation. I do respect their decision.
1) Added bar colour calculation
Bar colour will be changed only if High or low is changed compared to 3 days high and low. You can remove bar colour calculation from setting option.
2) Added EMA band
EMA Band = FILL(EMA,EMA of PIVOT_Support)