OPEN-SOURCE SCRIPT
Support and Resistance (High Volume Boxes) [ChartPrime]
Breakout & Retest Approach:
Breakout: A breakout is identified when a resistance level is broken (breakout_res) or a support level is breached (breakout_sup).
Retest Confirmation: If the resistance is retested and confirmed as support (res_holds), a buy signal is generated for a bullish setup; if the support is retested and confirmed as resistance (sup_holds), a sell signal is generated.
Visual Indicators:
Additionally, large green and red triangle-shaped markers are displayed on the chart to indicate buy/sell signals.
Alerts can be set up in TradingView using alert conditions.
Breakout: A breakout is identified when a resistance level is broken (breakout_res) or a support level is breached (breakout_sup).
Retest Confirmation: If the resistance is retested and confirmed as support (res_holds), a buy signal is generated for a bullish setup; if the support is retested and confirmed as resistance (sup_holds), a sell signal is generated.
Visual Indicators:
Additionally, large green and red triangle-shaped markers are displayed on the chart to indicate buy/sell signals.
Alerts can be set up in TradingView using alert conditions.
Open-source script
In true TradingView spirit, the creator of this script has made it open-source, so that traders can review and verify its functionality. Kudos to the author! While you can use it for free, remember that republishing the code is subject to our House Rules.
For quick access on a chart, add this script to your favorites — learn more here.
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.
Open-source script
In true TradingView spirit, the creator of this script has made it open-source, so that traders can review and verify its functionality. Kudos to the author! While you can use it for free, remember that republishing the code is subject to our House Rules.
For quick access on a chart, add this script to your favorites — learn more here.
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.