OPEN-SOURCE SCRIPT
Updated Support Resistance Zones
Support and resistance zones are used across all markets by traders and bots alike to identify liquidity and possible bounce areas. This script automates the drawing of those zones based on a number of variables, such as lookback period, channel width, number of touch confirmations and more.
This script also implements a some useful alerts so you can rest easy until the market hits a point of interest:
This script also implements a some useful alerts so you can rest easy until the market hits a point of interest:
- Enter SR Zone
- Exit SR Zone
- Break Upper Resistance
- Break Lower Resistance
Release Notes
Fix max_bars_back study error on higher timeframesRelease Notes
Update chart
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 publications is governed by House rules. You can favorite it to use it on a chart.
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Disclaimer
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