Volume Support and Resistance
*In a cutting system, from the lowest price of the red momentum to the highest price of the green momentum of the range of candles, cuts of different heights are created and the volume of transactions is calculated.
*Volumes in red and green candles each layer are calculated separately.
*The start of the candles can be from a candle other than zero.
*The maximum number of cuts for support or resistance will be separate and user-opinionated. This will help us see the most accurate support or resistance independently and quickly.
*The layer that has (1) the highest volume ratio of green to red, (2) the lowest number of red candles and (3) the highest number of green candles is considered as the best resistance and vice versa as the best support. Therefore, by changing the maximum number of cuts, we should look for the largest ratio of green to red volume for resistance and vice versa for support.
*If the current price is in the range of the momentum candle, the distance of the highest or lowest price of the momentum to hlc3 of the momentum candle will be checked.
*if you get an error message (> 500ms), reduce high_slice or loockback.
*Trading volume is formatted because it varies from very small to very large numbers in different markets and time periods.
*Volumes in red and green candles each layer are calculated separately.
*The start of the candles can be from a candle other than zero.
*The maximum number of cuts for support or resistance will be separate and user-opinionated. This will help us see the most accurate support or resistance independently and quickly.
*The layer that has (1) the highest volume ratio of green to red, (2) the lowest number of red candles and (3) the highest number of green candles is considered as the best resistance and vice versa as the best support. Therefore, by changing the maximum number of cuts, we should look for the largest ratio of green to red volume for resistance and vice versa for support.
*If the current price is in the range of the momentum candle, the distance of the highest or lowest price of the momentum to hlc3 of the momentum candle will be checked.
*if you get an error message (> 500ms), reduce high_slice or loockback.
*Trading volume is formatted because it varies from very small to very large numbers in different markets and time periods.
Release Notes:
*Storage of labels and boxes has been improved, so the number of variables has been reduced.
*Monitoring 3 layers of support or resistance in order of priority became possible. The first layer specification label is displayed.
*Monitoring 3 layers of support or resistance in order of priority became possible. The first layer specification label is displayed.
Release Notes:
Now supports and resistances are selected separately.
Release Notes:
* The logic governing the selection of the highest and lowest price of Momentum was edited. This was done due to the observation of a certain unacceptable state.
* Now you can view technical layers in addition to price action layers.
** The red shade shows the density of red volumes minus green volumes on a resistance layer.
** The green shade shows the density of the green volumes minus the red volumes on a support layer.
* Red colors are distributed as a gradient from the lowest to the highest value of the red volumes minus the green volumes observed in the resistance range and vice versa in the support range.
*** I remind you that if you encounter an error (> 500 ms), reduce the high number of cuts or look back and observe one of the technical shadows of support or resistance.
* Now you can view technical layers in addition to price action layers.
** The red shade shows the density of red volumes minus green volumes on a resistance layer.
** The green shade shows the density of the green volumes minus the red volumes on a support layer.
* Red colors are distributed as a gradient from the lowest to the highest value of the red volumes minus the green volumes observed in the resistance range and vice versa in the support range.
*** I remind you that if you encounter an error (> 500 ms), reduce the high number of cuts or look back and observe one of the technical shadows of support or resistance.