OPEN-SOURCE SCRIPT
S&R study of different MAs and lengths
This is a study on different moving averages across different lenghts to see which lengths or ma types have the most S&R action on them.
In the data window you can see the number of support and resistance instances for each length divided by the number of price crosses of the ma
Also you can see in time adjusted which % of the time that line acted as a S&R
Then it lets you select the best MA and length and see with the bar colors the areas where it behaved as S&R or when it didn't
In the data window you can see the number of support and resistance instances for each length divided by the number of price crosses of the ma
Also you can see in time adjusted which % of the time that line acted as a S&R
Then it lets you select the best MA and length and see with the bar colors the areas where it behaved as S&R or when it didn't
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 publication is governed by House rules. You can favorite it to use it on a chart.
Want to use this script 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.