ExoMaven

Customizable + Filters Pivot Support/Resistance Zones[ExoMaven]

This script uses the standard pivot-high/pivot-low built-in methods to identify pivot points on the chart as a base calculation for the zones. Rather than displaying basic lines, it displays a zone from the original pivot point to the closest part of the available body on the same candle. The script comes in handy by utilizing Pinescripts available input.source() function to allow for an external indicators output value to be used within the indicator. Make sure to read all of the TOOLTIPS in the indicator settings menu to get a full understanding of what each setting does, and how it can affect the results that end up on the chart.

By enabling the custom filter in the indicator settings, you will notice you have the ability to filter out zones using an external indicator such as an RSI . Maybe you only want zones to be calculated/drawn when the RSI is overbought or oversold, or maybe you only want the zones to calculate/draw if the Supertrend is green or red. The list of possible filters that you can implement is too many to count. Feel free to play around with the indicator however you like, and configure something that you find to be the most useful for your trading.

On top of everything listed above, the indicator has pre-programmed built-in alertconditions so that you can potentially automate trading, or get a notification to your cell phone when a zone is being touched/broken.
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.

Disclaimer

The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.

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