Dynamic S&R — Indicator by samuelhei

suppport supportandresistance dynamic entry point support

DYNAMIC S&R 2.0 is available:

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This simple script will add in your chart "dynamic support/resistance" and the possible entry point.

Here is OSOIL Chart:

This indicator is not designed to be used as a bot, but only to help your trades :) If you consider this useful, please consider donate: 1NR9tyn8tAn6nuQzosaZ2SkfT38PLxN5mf

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.

Want to use this script on a chart?

study("Dynamic S&R",overlay=true)

length = input(100,"Number of bars back") 

hhigh = highest(high,length)
chigh = highest(close,length)
llow = lowest(low,length)
clow = lowest(close,length)

mhl = (hhigh+llow)/2
mc = (chigh+clow)/2


phh = plot(hhigh, 'hHigh',color=blue)
pch = plot(chigh, 'cHigh',color=blue)
fill(phh,pch,blue)

pmhl = plot(mhl, 'mHL',color=black)
pmc = plot(mc, 'mMC',color=black)
fill(pmhl,pmc,black)

pll = plot(llow, 'lLow',color=purple)
pcl = plot(clow, 'cLow',color=purple)
fill(pll,pcl,purple)

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about USOIL