synapticEx

Fractal Support Resistance

Auto SR based on fractals and volume .

http://synapticex.com
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//@version=2
//synapticex.com
study("Fractal Support Resistance", shorttitle="FSR", overlay=true)
tf = input(title="Resolution", type=resolution, defval = "current")
vamp = input(title="VolumeMA", type=integer, defval=6)
vam = sma(volume, vamp)

up = high[3]>high[4] and high[4]>high[5] and high[2]<high[3] and high[1]<high[2] and volume>vam
down = low[3]<low[4] and low[4]<low[5] and low[2]>low[3] and low[1]>low[2] and volume>vam
fractalup =  up ? high[3] : fractalup[1] 
fractaldown = down ? low[3] : fractaldown[1]

fuptf = security(tickerid,tf == "current" ? period : tf, fractalup)
fdowntf = security(tickerid,tf == "current" ? period : tf, fractaldown)

plot(fuptf, "FractalUp", color=lime, linewidth=1, style=cross, transp=0, offset =-3, join=false)
plot(fdowntf, "FractalDown", color=red, linewidth=1, style=cross, transp=0, offset=-3, join=false)

Thank you! What would be your settings for 5 min time frame? And does it matter the colour? The green sits on top..
Reply
cristian.d PRO cristian.d
I mean for the VolumeMA cause I see you got the TF
Reply
synapticEx cristian.d
Thanks, the volume now should be fine. The green stand for a local maximum that has led to significant trading activity, the red is local minimum instead.
You can apply the script multiple times with a different time frame and change the colors based on your trading aims.
+1 Reply
Nice addition to the library!!!
Reply
synapticEx coondawg71
Thanks!
Reply
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