OPEN-SOURCE SCRIPT
XSRM Support and Resistant Level
XSRMulti is an advanced indicator designed to help traders analyze various price levels and identify potential trading opportunities. This indicator primarily focuses on tracking price movements based on high, low, and mid levels. Users have the flexibility to analyze these levels across different timeframes and price sources (open, close, high, low).
Features and Settings:
General Settings:
Bar Back: Determines how many bars back in time the price movements should be analyzed.
Offset: Defines the offset value used in calculations.
H/L Depth: The depth used for analyzing the highest and lowest price levels.
Mid: The ratio used to calculate the mid-level between the highest and lowest prices.
Optional Settings:
Source: Defines the price source used for calculating high and low levels (open, close, average, etc.).
Use HeikinAshi for range: Option to use HeikinAshi candles for price range analysis.
Logarithmic: Option to apply logarithmic calculations to price levels.
Break at first swing: Determines whether to break at the first price swing.
Visual Features:
Colors: The user can choose three different colors for the analyzed levels.
Extend left/right: Allows the extension of analyzed levels to the past or future.
How It Works:
XSRMulti operates based on three main analysis zones:
Zone 1: The highest, lowest, and mid levels are calculated and plotted.
Zone 2: A second analysis zone is created with similar calculations.
Zone 3: A third analysis zone is formed using the same methods.
Each zone is based on specific bar analysis, which determines the price levels. These levels can be used to make trading decisions. The user can also choose to extend the levels further to the right or left.
Table Information:
The indicator includes a table displaying daily price rate of change. This provides the user with insights into daily price movements.
Usage:
XSRMulti is a powerful analysis tool for traders. It is particularly useful for short-term traders, as it provides detailed insights into price movements. Users can make trading decisions based on the identified levels, especially when the price reaches certain thresholds.
Note:
The indicator uses current timeframe price data for calculations.
HeikinAshi-based analysis presents smoother price movements, making trend-following easier.
Features and Settings:
General Settings:
Bar Back: Determines how many bars back in time the price movements should be analyzed.
Offset: Defines the offset value used in calculations.
H/L Depth: The depth used for analyzing the highest and lowest price levels.
Mid: The ratio used to calculate the mid-level between the highest and lowest prices.
Optional Settings:
Source: Defines the price source used for calculating high and low levels (open, close, average, etc.).
Use HeikinAshi for range: Option to use HeikinAshi candles for price range analysis.
Logarithmic: Option to apply logarithmic calculations to price levels.
Break at first swing: Determines whether to break at the first price swing.
Visual Features:
Colors: The user can choose three different colors for the analyzed levels.
Extend left/right: Allows the extension of analyzed levels to the past or future.
How It Works:
XSRMulti operates based on three main analysis zones:
Zone 1: The highest, lowest, and mid levels are calculated and plotted.
Zone 2: A second analysis zone is created with similar calculations.
Zone 3: A third analysis zone is formed using the same methods.
Each zone is based on specific bar analysis, which determines the price levels. These levels can be used to make trading decisions. The user can also choose to extend the levels further to the right or left.
Table Information:
The indicator includes a table displaying daily price rate of change. This provides the user with insights into daily price movements.
Usage:
XSRMulti is a powerful analysis tool for traders. It is particularly useful for short-term traders, as it provides detailed insights into price movements. Users can make trading decisions based on the identified levels, especially when the price reaches certain thresholds.
Note:
The indicator uses current timeframe price data for calculations.
HeikinAshi-based analysis presents smoother price movements, making trend-following easier.
Script de código abierto
Siguiendo fielmente el espíritu de TradingView, el autor de este script lo ha publicado en código abierto, permitiendo que otros traders puedan entenderlo y verificarlo. ¡Olé por el autor! Puede utilizarlo de forma gratuita, pero tenga en cuenta que la reutilización de este código en la publicación se rige por las Normas internas. Puede añadir este script a sus favoritos y usarlo en un gráfico.
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Exención de responsabilidad
La información y las publicaciones que ofrecemos, no implican ni constituyen un asesoramiento financiero, ni de inversión, trading o cualquier otro tipo de consejo o recomendación emitida o respaldada por TradingView. Puede obtener información adicional en las Condiciones de uso.