MrGaggi

Auto Price Action - Multi Time Frame [Mehrok]

Auto Price Action - Volume Price and Spread - Multi Time Frame
Volume Price and Spread script generates important support and resistance levels basis activity happening in price, volume and candle spread. The basic idea has been taken from concepts of VSA which underlies that weakness appears in uptrend and strength in downtrend. Script will try to find candles which have volume higher then average and candle spread.

Underlying logic:
Script generates significant high's as resistance and lows as support basis activity happened on volume , price and candle spread. Multi Time Frame gives ability to find strong support and resistance levels on higher time frames and display on lower time frame chart.

Usage:
As it records and maintain important high and lows happening on candles till the time new levels are generated therefore generated price levels act as significant support or resistance. Higher the activity in volume , price and spread stronger that price level would act as support or resistance in future.

Script work on all time frame where volume information is available. In absence of volume information script would only generate optional levels and that too if activated.
Release Notes: Added Volume Period Input.

Protected script
This script is published closed-source and you may use it freely. You can favorite it to use it on a chart. You cannot view or modify its source code.
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