Dynamic SUPRES Multi Timeframe Update

dsr dynamic support supportandresistance demandzone supplyzone shibravis multi timeframe

Dynamic SUPRES can be interpreted in different ways. Each square marks an area of congestion that could serve as support and resistance.
FLASH UPDATE: Now is possible to choose the timeframe and the bars color on/off.

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.

Disclaimer

The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.

Want to use this script on a chart?

study(title="Dynamic SUPRES",shorttitle="DySR", overlay=true)

multiplier = input(title="M", type=float, defval=1.21, minval=0.5, maxval=1.9)
timeframe = input(title="Timeframe", type=resolution, defval="60")
barsc = input(title="BarsColor", type=bool, defval=true)

o = security(tickerid,timeframe,open)
c = security(tickerid,timeframe,close)
atr = security(tickerid,timeframe,sma(tr,5))

anomalia = abs(o-c) > multiplier*atr ? 1 : 0
barcolor(anomalia==1 and barsc==1?silver:na,0) 

dot = (anomalia == 1 and c<o)?o+atr:(anomalia == 1 and c>o)?o-atr:na
plotshape(dot,style=shape.square, color=black, location=location.absolute, transp=0)

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