vlnel

Classic_Levels

Displays horizontal lines that represent support and resistance levels.
You can use it with any symbol and on any timeframe.
Parameter 'Time range' means number of candles in consideration. The beginning of the range is marked with a little violet circle.
The more 'Sensitivity' is, the more levels are displayed.
Release Notes: Little changes in comments and variable names.
Release Notes: Some internal coefficients changed.
Release Notes: ***
Release Notes: Little corrections to the algorithm.
Release Notes: Increased performance.
Release Notes: Function was removed.
Release Notes: Array used.
Release Notes: Algorithm slightly changed, performance improved.
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.

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