OPEN-SOURCE SCRIPT

MM-PA

By baymucuk

Updated

Track reversal price levels on any assets

Release Notes

Now it shows more accurate levels on any timeframe.

Release Notes

There are 6 different lines, all have different strength. You clearly recognize lines by thickness.

BASE_2 and TOP_2 are track %2.5 reversal. Linewidth = 1
BASE_5 and TOP_5 are track %5 reversal. Linewidth = 2
BASE_10 and TOP_10 are track %10 reversal. Linewidth = 3

Old lines also important for future price movement.

Release Notes

8693.71 support line drawn since May 4 hold the bitcoin. Also, I added params to change values.

Comparison length is very important. I defined default value to 233. Once indicator find new support or resistance, it check last 233 bars to identify how many bars reacted to new support or resistance. Also, it's determine reaction by using precision value.

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 publication is governed by House rules. You can favorite it to use it on a chart.

Want to use this script on a chart?

baymucuk

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