Dilip Zone's
In the example above, I have specified the most immediate support and resistance zones on Bank nifty and set the script to detect price action. If a price action occurs within the resistance zone a signal will be generated; likewise for price action within the support zone .
The purpose of this indicator is to generate trading alerts when these patterns occur in order to reduce the screen-time required to monitor setups. This indicator is intended for structure traders primarily, although it could be used by anyone who uses zones and candlestick patterns to enter trades.
If you leave either zone set to 0 then that zone will not be used, meaning that you can use this to detect both support and resistance signals, or only signals at support, or only signals at resistance.
Settings:
R1: First Resistance Price
R2: Second Resistance Price
S1: First Support Price
S2: Second Support Price
I find, with the standard settings, it works best on the 5 minutes timeframe as shown, but again, can be used on any time frame.
For access, send me a DM on TradingView
Invite-only script
Only users approved by the author can access this script. You'll need to request and get permission to use it. This is typically granted after payment. For more details, follow the author's instructions below or contact dilipchowdarythamma directly.
TradingView does NOT recommend paying for or using a script unless you fully trust its author and understand how it works. You may also find free, open-source alternatives in our community scripts.
Author's instructions
Disclaimer
Invite-only script
Only users approved by the author can access this script. You'll need to request and get permission to use it. This is typically granted after payment. For more details, follow the author's instructions below or contact dilipchowdarythamma directly.
TradingView does NOT recommend paying for or using a script unless you fully trust its author and understand how it works. You may also find free, open-source alternatives in our community scripts.