Support and Resistance Levels with auto Fibonacci Setup Tutorial

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 Indicator

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

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Tip Jar
LTC: LM9KsXz7GUxCN9g9EjTC8ayviDEmBK14rw
Comentario: You can also set alerts from price crossing levels.
Comentario: Using the bar replay function to test the indicator and find settings that work for you.

Hi I’d like permission as well pls
I would love to try out your indicator. Can you give me access please? Thanks!
Hello. I'd love to try this indicator also. Can I be added?
Hi Jim, this is fantastic! Would love to test run your indicator. Would you mind adding me plz?
Best mate!
Hi, Jason! Would you please add me to this indicator? Thanks alot:)
Hi Jim can I please have access?
Hi Jim, Would love to try this indicatior. Great work it seems. Best, Ml_mean
HI JIM, I would really appreciate if I could get access to this indicator? Thank you. All the Best

I would love to try this indicator. Thanks! Appreciate your work.
Would love to try this indicator jdlim! thanks
+2 Responder
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