Support Resistance Zones — Indicator by sourcey

supportandresistance supportbreakout supportandresistancezones

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:

Enter SR Zone
Exit SR Zone
Break Upper Resistance
Break Lower Resistance

Release Notes:

Fix max_bars_back study error on higher timeframes

Release 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 a publication is governed by House Rules. You can favorite it to use it 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.

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