OPEN-SOURCE SCRIPT

Extreme Volume Support Resistance Levels

Updated
Extreme Volume Support Resistance Levels are S/R levels(zones, basically), based on extreme volume .

Settings:
  • Lookback -- number of bars, which algorithm will be using;
  • Volume Threshold Period -- period of MA (Volume MA), which smoothers volume in order to find the extremes;
  • Volume Threshold Multiplier -- multiplier for Volume MA, which "lift" Volume MA and thus will provide the algorithm with more accurate extreme volume ;
  • Number of zones to show -- number of last S/R zones, which will be shown on the chart.


RU:
Extreme Volume Support Resistance Levels — это уровни S/R (зоны, в основном), основанные на избыточном объеме.

Параметры:
  • Lookback -- число баров, которое алгоритм будет использовать для расчётов;
  • Volume Threshold Period -- период MA (Volume MA), которая сглаживает объем для нахождения экстремумов объёма;
  • Volume Threshold Multiplier -- множитель для Volume MA, который "поднимает" Volume MA и тем самым обеспечивает алгоритм более точными значениями экстремального объёма;
  • Количество зон для отображения -- количество оставшихся зон S/R, которые отображаются на графике.
Release Notes
Big update:
+ MTF: now you can choose timeframes to extract data from and even create your own timeframes;
+ Logic update;
+ Structured documentation for curios people;
+ Dashboard(DB) for tracking your chosen MTF and current timeframe so you can easily distinguish one another;
+ Little customization for DB;
+ Minors.
Release Notes
+ Quick logic fix.
Release Notes
+ Minors;
Release Notes
+ Big logic fix, now algorigthm is nearly 10x faster and more efficient;
+ Added little of customization for zones;
+ Changes in code documentation;
+ Minors;
Release Notes
+ Minors;
extremeoptionsPivot points and levelsquantsupportSupport and Resistancesystem

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 publication is governed by House rules. You can favorite it to use it on a chart.

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