INVITE-ONLY SCRIPT
Updated

Magic Rectangle Detector [NeoButane]

8 145
In the quest to make boxes, I have created the Magic Rectangle Detector.

This indicator finds essential supports and resistances, many of which may flip and become resistances and supports. Classical price action trading is best utilized in unison with this indicator.

Options to configure on the main chart.

snapshot

snapshot
Release Notes
Added a 'Simple Mode' to ease use. No more fiddling!

The wick or candle is now automatically chosen based on price action.

Here's a list of my premium indicators and pricing:

medium.com/@NeoButane/trading-view-indicators-list-d89695cc7a06
Release Notes
- Improved magic rectangle detection based on candle body size
- Added color swatches for dark backgrounds (brighter) and no bias (silver)
Release Notes
Added rectangles based on purely volume.

snapshot

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.