Formation Defined Moving Support and Resistance

Oct 21, 2018

Support and resistance are defined on a formation algorithm. S/R are being redefined when formation reoccur however they are also moving if support or resistance are broken from previous formation defined points.

Oct 22, 2018

Release Notes

- A little bug fix on algorithm.

Oct 22, 2018

Release Notes

- Added option for non moving (adaptive) S/R levels.
- Added option for color the bar yellow where new formation defined. (When related bar is opened, script does not repaint.)

Oct 22, 2018

Release Notes

- Option added to define S/R depending Low/High
- Formation algorithm has been updated regarding new formation definition.

Oct 22, 2018

Release Notes

- Minor bug fix on formation definitions.

Oct 23, 2018

Release Notes

- New formation design added to algorithm.
- Minor bug fixes.

Oct 23, 2018

Release Notes

- New formation designs added to algorithm. (Now script recognizes 9 formations.)
- Bug fix for missing formations.

4 days ago

Release Notes

The script was originally coded in 2018 with Pine Script version 3, and it was in protected code status. It has been updated and optimised for Pine Script v5 and made completely open source.

Please use the new version: https://www.tradingview.com/script/z5HrceDA-Formation-Defined-Moving-Support-and-Resistance/