OPEN-SOURCE SCRIPT
Simple Volume-Based Support & Resistance Indicator
Welcome to my open-source indicator that uses trading volume and market trends to identify potential support and resistance levels. This tool is great for seeing where the price might pause or reverse, helping you make more informed trading decisions.
Why You'll Love This Indicator:
Volume Awareness: It looks at how much trading is happening to better predict support (where the price might stop falling) and resistance (where the price might stop rising).
Trend Tracking: The indicator uses the market's ups and downs to refine these support and resistance areas.
Easy to Read: We've made the lines and zones clear and simple to understand, so you can focus on what matters.
How to Use This Tool:
No complicated settings needed! Since it's open-source, feel free to explore the code and tweak it if you like.
The chart will show support zones in green and resistance zones in red. These are your clues for potential price turns.
The Open-Source Advantage:
This script is completely open for you to use, modify, and share. I believe in community-driven improvements, so dive into the code, see how it works, and if you've got a knack for coding, you can even make it better!
Understanding the Chart:
You'll see the support and resistance levels dynamically drawn on your chart. Green shades are where the price might bounce up, and red shades indicate where it might bounce down.
This indicator is my way of giving back to the trading community. By sharing it openly, I hope we can all help improve it and learn from each other. Happy trading!
Why You'll Love This Indicator:
Volume Awareness: It looks at how much trading is happening to better predict support (where the price might stop falling) and resistance (where the price might stop rising).
Trend Tracking: The indicator uses the market's ups and downs to refine these support and resistance areas.
Easy to Read: We've made the lines and zones clear and simple to understand, so you can focus on what matters.
How to Use This Tool:
No complicated settings needed! Since it's open-source, feel free to explore the code and tweak it if you like.
The chart will show support zones in green and resistance zones in red. These are your clues for potential price turns.
The Open-Source Advantage:
This script is completely open for you to use, modify, and share. I believe in community-driven improvements, so dive into the code, see how it works, and if you've got a knack for coding, you can even make it better!
Understanding the Chart:
You'll see the support and resistance levels dynamically drawn on your chart. Green shades are where the price might bounce up, and red shades indicate where it might bounce down.
This indicator is my way of giving back to the trading community. By sharing it openly, I hope we can all help improve it and learn from each other. Happy trading!
Open-source script
In true TradingView spirit, the creator of this script has made it open-source, so that traders can review and verify its functionality. Kudos to the author! While you can use it for free, remember that republishing the code is subject to our House Rules.
For quick access on a chart, add this script to your favorites — learn more here.
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.
Open-source script
In true TradingView spirit, the creator of this script has made it open-source, so that traders can review and verify its functionality. Kudos to the author! While you can use it for free, remember that republishing the code is subject to our House Rules.
For quick access on a chart, add this script to your favorites — learn more here.
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.