This script is very similar to the original indicator mentioned above, but with a modification that, in my opinion, would be very useful for many traders. It enables the option to choose different timeframe to calculate the S/R levels. Very often, traders would like to use higher timeframes to define S/R levels, rather than using the same timeframe that they are trading at. For example, if trading at 5min, we often use 15min, 30min or 1hr timeframe to define our S/R levels.
For example, below shows S/R levels from three different timeframes:
Hope you find value in this indicator~ Enjoy~
- toggle display for labels
- Customizable label and text colors
Fixed bug on displaying 'H' and 'L' pivots
Attempted to fix the observation that S/R lines of the same timeframe are inconsistent on different chart timeframes. Improved slightly, but not completely fixed.
- bug fixed: "Study Error - Error on bar 0. The study references too many candles in history" on non-intraday charts
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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.