are horizontal lines placed on a price chart. They make strong levels of because banks, financial institutions and many traders use them.
The indicator is set to the Daily Range by default (no support for weekly, monthly, quarterly, or yearly ).
Show R3 and S3 levels?
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.