SemiQuant

Support and Resistance Levels with auto Fibonacci

Identify horizontal support and resistance lines using your choice of 6 methods.

Available options
  • Lookback window: Number of bars back to consider in calculations
  • Lookback window right (only applicable for methods 3 and 4): Number of bars to the right to consider in calculations
  • Number of S/R lines to plot: S/R lines to plot (currently the max setting is 4 so 8 lines due to pine limitations. I can post separate scripts for each method that allow more depending on user feedback)
  • Use Custom Time Frame? ( M1 , M6, M5 only work if viewing lower TF): Set a custom timeframe in minutes, then 1D for daily, 3D for 3 daily etc.
  • Calculation offset: How many of the most recent bars to ignore in the calculations.
  • Update Frequency: How many bars to wait until updating the lines since the last update.

Things to tweak.
  • I still need to test the methods, depending on that and feedback I can post separate scripts for each method that allow more depending lines or scrap some.
  • I'll tweak the parameters for using linebreaks to scrap them. Currently required a three close through it (so two in one direction and one in the other).
  • Fibs don't work on the static timeframe as I've reached certain restriction in the coding system.


Link to setup video tutorial


Below are some examples using the default settings (which I have not optimized as of yet)
Method 1
Method 2
Method 3
Method 4
Method 5
Method 6



Links to my other indicators
TD sequential indicator

TD sequential indicator screener

Oscillator Divergences

Oscillator Divergences Screener

Swing Points and Swing Failure Patterns

Swing Points and Swing Failure Patterns Screener

TD alternatives

RSI with a horizontal line

Plot MAs

Average directional index with directional movement indicator

Market Hours
Release Notes: V1.01
-I fixed an issue with the "Only update and scrap line if three closes through it" option
-Added suboption to the above to scrap line after a certain period
-Also, note that if a resistance line becomes support its plotted as light green and light red for support to resistance
Release Notes: V1.02
-further refined the "Only update and scrap line if three closes through it" and "And Scrap line after this many new candles" options. they still not behaving as I want but much better.
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Comments

Sir, please grant me an access.
+5 Reply
hey can i have access to this script please. thank you. if its paid let me know
+5 Reply
@SemiQuant Sir, can I have access to the indi as well? Thank You.
+3 Reply
Hi Jim! please can I get access? Thank you!!
+2 Reply
Access would be great, thanks!
+2 Reply
I would love to try this, love your scripts!
+2 Reply
sir please grant me an access
+2 Reply
Cool! Can i have acces?
+2 Reply
Hi, looks good. Can I try it, please? Thanks!
+2 Reply
Could I please have access to this indicator?
+1 Reply