trading.kay27

Kay_Dynamic SR (Fractals)

This is an updated version of my previous Kay_SRLevels - Support and Resistance (Barry) indicator.
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Updated script is here. Much better in finding support and resistance levels. Can be used in breakout trading.
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Code for changing color SMA. Copy and paste the code in Pine Editor and add it to your chart.

study(title="Kay_MA", shorttitle="Colored MA", overlay=true)
len = input(5, minval=1, title="MA")
src = input(hl2, title="Source")
cc = input(true, title="Change Color")
out = sma(src, len)
col = cc ? (change(out) > 0 ? green : red) : red
plot(out, title="MA", color=col, transp=0, linewidth=2)
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Use It with 5 Period SMA (hl2) for some better results.
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I felt previous indicator was a bit miscalculated as the indicators cant draw on previous candles and levels was not accurate.
This version will help visualize levels in more clear way and also can act as SL levels for trades itself.
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