LuauDesign's Bull & Bear Runs Support and Resistance
Support and Resistance Zones
This automates the way I look at drawing Support and Resistance. Different settings make it catch different moves.
It isn't perfect. It doesn't spot everything it should. But it spots some stuff it should, and can be tweaked with the different settings to see different things.
The zones are short-lived. They bound once, twice at best, and sometimes he bounce is very weak and quickly overtaken.
Hope this is useful to someone.
This automates the way I look at drawing Support and Resistance. Different settings make it catch different moves.
It isn't perfect. It doesn't spot everything it should. But it spots some stuff it should, and can be tweaked with the different settings to see different things.
The zones are short-lived. They bound once, twice at best, and sometimes he bounce is very weak and quickly overtaken.
Hope this is useful to someone.
Release Notes:
The original one had scale defaulting to the left of the chart, and that'd cause problems when more than one indicator was present.
I also changed the color of the bullish engulfments from yellow to blue, to keep it consistent with other SR scripts I'm working on.
I also changed the color of the bullish engulfments from yellow to blue, to keep it consistent with other SR scripts I'm working on.