samuelhei

DYNAMIC S&R 1.01

DYNAMIC S&R 2.0 is available:
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This simple script will add in your chart "dynamic support/resistance" and the possible entry point, can be used in any chart and any timeframe.

This indicator is not designed to be used as a bot, but only to help your trades :)

If you consider this useful, please consider donate: 1NR9tyn8tAn6nuQzosaZ2SkfT38PLxN5mf

Charts:
OSOIL:
XAUUSD:
AUDUSD:

Feel free to use this indicator, don't forget to feedback!

UPDATE:

Now it is possible to add/remove the average range of support and resistance , and add/remove average range as a line. And if you link the average range as a line (thanks @SpyWhat) you can use a multiplier to add or remove % as you like.
Remove from Favorite Scripts Add to Favorite Scripts
study("Dynamic S&R",overlay=true)

// Author: samuelhei
// Tips: 1NR9tyn8tAn6nuQzosaZ2SkfT38PLxN5mf
// Feel free to use this script as you want!

length = input(100,"Number of bars back") 
useRangAv = input(true,"Use range average of support and resistance.",type=bool)
useLineAv = input(false, "Use average of support and resistance as one line.",type=bool)
perLine = input(1,"Multiplier of averege line.", type=float)

hhigh = highest(high,length)
chigh = highest(close,length)
llow = lowest(low,length)
clow = lowest(close,length)

mhl = (hhigh+llow)/2
mc = (chigh+clow)/2

aL = ((mhl + mc)/2) * perLine


phh = plot( hhigh, 'hHigh',color=blue)
pch = plot(chigh, 'cHigh',color=blue)
fill(phh,pch,blue)


pmhl = plot(useRangAv ? mhl : na, 'mHL',color=black)
pmc = plot(useRangAv ? mc : na, 'mMC',color=black)
fill(pmhl,pmc,black)
plot(useLineAv ? aL : na,"Averege Line",color=black)

pll = plot(llow, 'lLow',color=purple)
pcl = plot(clow, 'cLow',color=purple)
fill(pll,pcl,purple)

very nice scrip bro
Reply
Nicely done!
Reply
:)
+1 Reply
Great work .. Bro :)
+1 Reply
Thanks!
Reply
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