OPEN-SOURCE SCRIPT
Universal S/R Pro
🚀 Universal Support-Resistance & Zone Scalper
Overview
This is a Multi-Asset Technical Indicator designed to identify high-probability price levels based on natural market volatility. It automatically calculates and plots critical Support, Resistance, and No-Trade Zones, making it an essential tool for traders who want to eliminate manual charting errors.
Whether you are trading Options, Stocks, Crypto, or Forex, this script utilizes ATR (Average True Range) dynamics to ensure that labels and levels remain perfectly scaled, regardless of the asset's price.
✨ Key Features
🔴 Smart Resistance (Red Line): Detects recent price ceilings to define breakout levels. It provides a clear "BUY ABOVE" reference point.
🟢 Dynamic Support (Green Line): Identifies recent price floors to pinpoint breakdown zones with a clear "SELL BELOW" reference.
🔵 Automatic No-Trade Zone: Visualizes the "choppy" area between levels. A blue label warns you to stay sidelined during sideways movement to avoid overtrading.
🎯 Automated Targets: Features built-in target projections based on volatility, providing clear exit points on your chart.
🚫 Anti-Overlap Engine: Includes advanced logic to prevent label clutter. It works perfectly on low-priced Options (₹10-₹100) and high-priced Indices (Nifty/BankNifty/Gold) without labels overlapping each other.
⏱️ Best Timeframes for Optimal Results
While the script is universal, the following timeframes are recommended for the highest accuracy:
Intraday Trading (Options/Stocks): 5-Minute and 15-Minute charts.
Scalping: 1-Minute or 3-Minute (Best for high-volatility assets like Gold or Crypto).
Swing Trading: 1-Hour or Daily charts to identify macro supply and demand zones.
⚙️ How It Works
Entry Strategy: When the price closes a candle above the Red Line, a long position can be considered toward Target 1. Conversely, a close below the Green Line suggests a short setup.
Neutral Zone: As long as the price fluctuates between the labels, the market is in a "Wait & Watch" phase.
Customization: Users can adjust the Lookback Period for trend sensitivity and the ATR Multiplier to fine-tune label spacing for different screen resolutions.
⚠️ Disclaimer
Trading involves significant risk. This indicator is for educational and assistance purposes only. Past performance does not guarantee future results. Always use proper stop-loss and risk management protocols before entering any trade.
Overview
This is a Multi-Asset Technical Indicator designed to identify high-probability price levels based on natural market volatility. It automatically calculates and plots critical Support, Resistance, and No-Trade Zones, making it an essential tool for traders who want to eliminate manual charting errors.
Whether you are trading Options, Stocks, Crypto, or Forex, this script utilizes ATR (Average True Range) dynamics to ensure that labels and levels remain perfectly scaled, regardless of the asset's price.
✨ Key Features
🔴 Smart Resistance (Red Line): Detects recent price ceilings to define breakout levels. It provides a clear "BUY ABOVE" reference point.
🟢 Dynamic Support (Green Line): Identifies recent price floors to pinpoint breakdown zones with a clear "SELL BELOW" reference.
🔵 Automatic No-Trade Zone: Visualizes the "choppy" area between levels. A blue label warns you to stay sidelined during sideways movement to avoid overtrading.
🎯 Automated Targets: Features built-in target projections based on volatility, providing clear exit points on your chart.
🚫 Anti-Overlap Engine: Includes advanced logic to prevent label clutter. It works perfectly on low-priced Options (₹10-₹100) and high-priced Indices (Nifty/BankNifty/Gold) without labels overlapping each other.
⏱️ Best Timeframes for Optimal Results
While the script is universal, the following timeframes are recommended for the highest accuracy:
Intraday Trading (Options/Stocks): 5-Minute and 15-Minute charts.
Scalping: 1-Minute or 3-Minute (Best for high-volatility assets like Gold or Crypto).
Swing Trading: 1-Hour or Daily charts to identify macro supply and demand zones.
⚙️ How It Works
Entry Strategy: When the price closes a candle above the Red Line, a long position can be considered toward Target 1. Conversely, a close below the Green Line suggests a short setup.
Neutral Zone: As long as the price fluctuates between the labels, the market is in a "Wait & Watch" phase.
Customization: Users can adjust the Lookback Period for trend sensitivity and the ATR Multiplier to fine-tune label spacing for different screen resolutions.
⚠️ Disclaimer
Trading involves significant risk. This indicator is for educational and assistance purposes only. Past performance does not guarantee future results. Always use proper stop-loss and risk management protocols before entering any trade.
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.
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.
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.