OPEN-SOURCE SCRIPT
Support and Resistance (High Volume Boxes) [ChartPrime]
# 📑 OPERATING MANUAL: Institutional Volume & SR Protocol (v1.0)
## 1. SCOPE AND CORE LOGIC
This trading suite is designed to track **Institutional Order Flow**. By combining statistical volume anomalies (Spikes) with price zones of high participation (Boxes), the system identifies where "Smart Money" is entering the market and which price levels they are likely to defend.
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## 2. COMPONENT OVERVIEW
### **A. Massive Order Spike Detector**
Identifies momentum and exhaustion through volume standard deviation ($σ$).
* **Green/Red Triangles:** Indicate a volume event exceeding **4x** the historical average.
* **Key Use:** Acts as a **trigger** for entry.
### **B. SR High Volume Boxes**
Maps the areas where high-volume pivots occurred.
* **Teal Boxes:** High-volume Support (Buying zones).
* **Red Boxes:** High-volume Resistance (Selling zones).
* **Diamonds (◆):** Real-time confirmation that a level is "Holding."
* **Dashed Boxes:** Indicate a level has been broken and may now "flip" polarity (Support becomes Resistance).
---
## 3. SIGNAL INTERPRETATION TABLE
| Signal Type | Visual | Market Context | Action |
| :--- | :--- | :--- | :--- |
| **Buy Spike** | 🟢 Triangle | Breakout or Trend Continuation | Confirm with Support Box |
| **Sell Spike** | 🔴 Triangle | Breakdown or Trend Exhaustion | Confirm with Resistance Box |
| **Support Hold**| 🟢 Diamond | Price successfully bounced off a Teal zone | Look for Long entry |
| **Resist. Hold**| 🟠 Diamond | Price successfully rejected from a Red zone | Look for Short entry |
| **SR Break** | 🏷️ Label | A major volume zone has been breached | Wait for Retest of dashed box |
---
## 4. OPERATIONAL WORKFLOW (THE STRATEGY)
### **Step 1: Zone Identification**
Observe the **SR High Volume Boxes** to see where the "battlefields" are.
* *Neutral:* Price is between boxes.
* *Action:* Price enters a Teal (Support) or Red (Resistance) box.
### **Step 2: The Trigger (The Spike)**
Wait for the **Massive Order Spike** to appear as the price interacts with a box:
* **The Aggressive Break:** A Spike occurs *as the price breaks through* a box. This validates a strong momentum trade.
* **The Rejection:** A Spike occurs *at the edge of a box* followed by a Diamond (◆). This validates a high-probability reversal.
### **Step 3: Confirmation (The Retest)**
If a box is broken (e.g., "Break Res"), wait for the price to return to the **Dashed Box**. If a "Hold" signal (Diamond) appears on the retest, the setup is high-conviction.
---
## 5. TECHNICAL CONFIGURATION
| Parameter | Recommended Value | Purpose |
| :--- | :--- | :--- |
| **Spike Multiplier** | 4.0 - 5.0 | Filters out noise; captures only major moves. |
| **Lookback Period** | 20 | Balances between minor and major SR levels. |
| **Box Width** | 1.0 - 1.5 | Adjust based on ATR (Volatility) of the asset. |
| **Alert Type** | Once Per Bar Close | Ensures signals are confirmed by the candle close. |
---
## 6. RISK MANAGEMENT & BEST PRACTICES
1. **News Filter:** Avoid trading 5 minutes before/after high-impact news (CPI, FOMC). Spikes are guaranteed but direction is unpredictable.
## 1. SCOPE AND CORE LOGIC
This trading suite is designed to track **Institutional Order Flow**. By combining statistical volume anomalies (Spikes) with price zones of high participation (Boxes), the system identifies where "Smart Money" is entering the market and which price levels they are likely to defend.
---
## 2. COMPONENT OVERVIEW
### **A. Massive Order Spike Detector**
Identifies momentum and exhaustion through volume standard deviation ($σ$).
* **Green/Red Triangles:** Indicate a volume event exceeding **4x** the historical average.
* **Key Use:** Acts as a **trigger** for entry.
### **B. SR High Volume Boxes**
Maps the areas where high-volume pivots occurred.
* **Teal Boxes:** High-volume Support (Buying zones).
* **Red Boxes:** High-volume Resistance (Selling zones).
* **Diamonds (◆):** Real-time confirmation that a level is "Holding."
* **Dashed Boxes:** Indicate a level has been broken and may now "flip" polarity (Support becomes Resistance).
---
## 3. SIGNAL INTERPRETATION TABLE
| Signal Type | Visual | Market Context | Action |
| :--- | :--- | :--- | :--- |
| **Buy Spike** | 🟢 Triangle | Breakout or Trend Continuation | Confirm with Support Box |
| **Sell Spike** | 🔴 Triangle | Breakdown or Trend Exhaustion | Confirm with Resistance Box |
| **Support Hold**| 🟢 Diamond | Price successfully bounced off a Teal zone | Look for Long entry |
| **Resist. Hold**| 🟠 Diamond | Price successfully rejected from a Red zone | Look for Short entry |
| **SR Break** | 🏷️ Label | A major volume zone has been breached | Wait for Retest of dashed box |
---
## 4. OPERATIONAL WORKFLOW (THE STRATEGY)
### **Step 1: Zone Identification**
Observe the **SR High Volume Boxes** to see where the "battlefields" are.
* *Neutral:* Price is between boxes.
* *Action:* Price enters a Teal (Support) or Red (Resistance) box.
### **Step 2: The Trigger (The Spike)**
Wait for the **Massive Order Spike** to appear as the price interacts with a box:
* **The Aggressive Break:** A Spike occurs *as the price breaks through* a box. This validates a strong momentum trade.
* **The Rejection:** A Spike occurs *at the edge of a box* followed by a Diamond (◆). This validates a high-probability reversal.
### **Step 3: Confirmation (The Retest)**
If a box is broken (e.g., "Break Res"), wait for the price to return to the **Dashed Box**. If a "Hold" signal (Diamond) appears on the retest, the setup is high-conviction.
---
## 5. TECHNICAL CONFIGURATION
| Parameter | Recommended Value | Purpose |
| :--- | :--- | :--- |
| **Spike Multiplier** | 4.0 - 5.0 | Filters out noise; captures only major moves. |
| **Lookback Period** | 20 | Balances between minor and major SR levels. |
| **Box Width** | 1.0 - 1.5 | Adjust based on ATR (Volatility) of the asset. |
| **Alert Type** | Once Per Bar Close | Ensures signals are confirmed by the candle close. |
---
## 6. RISK MANAGEMENT & BEST PRACTICES
1. **News Filter:** Avoid trading 5 minutes before/after high-impact news (CPI, FOMC). Spikes are guaranteed but direction is unpredictable.
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.