This script will plot the support and resistance levels calculated based on previous five days OHL data. Apart from the resistance and support levels, this script also plots the pivots for BUY and SELL trigger points.
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In this version, I have made the script more optimized and the support & resistance lines are plotted according to the trading session days.
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Included Central Pivot Range (CPR) that will help you know the trend more effortlessly.
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In this version I have fine tuned the support and resistance lines and truncated the decimal points to 2.
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In this version, the TC, Pivot, BC, Resistance and Support labels are plotted at the right hand side.
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In this version, I have fixed the co-ordinates of pivot, resistance, and support labels.
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In this version, I have made the look and feel of this indicator like built-in indicator.
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In this version I have corrected the support and resistance values.
Hello, Mr.Ghosh. I'm really impressed with you work. Though this indicator is not of my use I'd like to have a chat with you privately to discuss some projects. Would you mind sending me dm here only.
This has been very helpful indicator for trading. Apart from being professional trader, i am a financial instructor too. Right now i am making an online course on indicators & i will be much obliged if i get the permission to include this indicator for my course. I will be giving you full attribution for this indicator too. Do let me know & again thank you for creating such an amazing indicator.
sagarbsharma
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Thanks a lot for this script making decent amount using 1 or 2 targets thanks a lot....
@nilanjan62, No, this is purely based on previous five days range breakout strategy.
pdebasis
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how to configure 5PRB to indicate the buy or sell trigger during mkt hours ? thx
pbghosh
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@pdebasis, Pine scripts (study) can be included with alert condition function but it cannot fire alerts from the code automatically. It only gives you the opportunity to create a custom condition for Create Alert dialog. To implement this, you need to put the alertcondition in the code and then create an alert using the Create Alert dialog, select the applied Pine code as main condition for the alert and choose the specific alert condition.