Celar

Res/Sup With Concavity & Increasing / Decreasing Trend Analysis

Purple means the concavity is down blue means concavity is up which is good.
Yellow means increasing, Red means decreasing.

Sup = Green
Res = Red
Release Notes: Added a far more accurate resistance/support line generator.

Also added plot shapes to indicate touches.

Not financial advice, however, please put ideas below of what you would like in the future.
Release Notes: Visual Change to Derivative Concave and Increase/Decrease indicator

Whtie means no signal. Green means both agree. Red means both disagree.
Release Notes: Added Range identifier highlights tightly bound price highlights yellow.
Release Notes: Added the input for range accuracy lower is better too low = no range because prices are not usually exactly the same.

Fixed-line 160.
Open-source script

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.

Want to use this script on a chart?

Comments

Great indicator, but when I add this, it plots below the candlesticks. But in your image, candlestick bottom and top are covered by green and red lines. How to do that?
Reply
Well, I like it if I'm understanding it correctly. It strikes me as a "Ichimoku for Dummies" whereby can see whether what's above you is resistance or support. I'll try it out and thanks for your effort!
Reply
Tomorrow I will likely add an input for you so you can add your exchange commission prices. It will then only accept ranges with a certain amount of volatility.
Reply
Celar Celar
@Celar, Complete.
Reply
The final update for tonight will be a range identifier.
Reply
I highly recommend you do not trade crosses that are clustered or single crosses, you must trade multiple touches.
Reply
The next script will be using regressions for short-term scalping.
Reply
An FYI just because a cross hasn't appeared doesn't mean you can't trade the line if it's obvious that there have been a number of touches.
Reply