samuelhei

Dynamic S&R

DYNAMIC S&R 2.0 is available:
DYNAMIC S&R 2.0

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This simple script will add in your chart "dynamic support/resistance" and the possible entry point.

Here is OSOIL Chart:
Breakout


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
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study("Dynamic S&R",overlay=true)

length = input(100,"Number of bars back") 

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

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


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

pmhl = plot(mhl, 'mHL',color=black)
pmc = plot(mc, 'mMC',color=black)
fill(pmhl,pmc,black)

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

I'll give it a try
Reply
Thanks! Waiting for your feedback.
Reply
Not bad! I see it's taking the highest/lowest price from the period only. It would be nice to see it incorporate an average price of the period as well and +/- a specified %.
Reply
Thanks! Here we go
DYNAMIC S&R 1.01
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