About
Kenwilboy Support and Resistance
This script offers essential pivot point support and resistance markers, highlighting break signals for the user. It includes a feature to emphasize major breaks by applying a filter based on the Volume Oscillator.
The script primarily shows substantial breaches of these basic levels, eliminating irrelevant and cluttered indications.
Additionally, it also display breaks with candles that are considered bullish, such as those with longer upper or lower wicks.
Input
Left Bars - the number of bars left hand side of the pivot.
Right Bars - the number of bars right hand side of the pivot.
Volume Threshold - the threshold value (%) for the Volume Oscillator.
How to Use
Knowing when a pivot S/R level is broken with significance can be of great help to a trader. Many times significant levels may not be broken with significant force and the move is therefore weaker and possibly not worth trading.
Kenwilboy Support and Resistance
This script offers essential pivot point support and resistance markers, highlighting break signals for the user. It includes a feature to emphasize major breaks by applying a filter based on the Volume Oscillator.
The script primarily shows substantial breaches of these basic levels, eliminating irrelevant and cluttered indications.
Additionally, it also display breaks with candles that are considered bullish, such as those with longer upper or lower wicks.
Input
Left Bars - the number of bars left hand side of the pivot.
Right Bars - the number of bars right hand side of the pivot.
Volume Threshold - the threshold value (%) for the Volume Oscillator.
How to Use
Knowing when a pivot S/R level is broken with significance can be of great help to a trader. Many times significant levels may not be broken with significant force and the move is therefore weaker and possibly not worth trading.