OPEN-SOURCE SCRIPT
Universal S/R Pro
🚀 Universal Support-Resistance & Zone Scalper
Overview
This is a Multi-Asset Technical Indicator designed to identify high-probability price levels based on natural market volatility. It automatically calculates and plots critical Support, Resistance, and No-Trade Zones, making it an essential tool for traders who want to eliminate manual charting errors.
Whether you are trading Options, Stocks, Crypto, or Forex, this script utilizes ATR (Average True Range) dynamics to ensure that labels and levels remain perfectly scaled, regardless of the asset's price.
✨ Key Features
🔴 Smart Resistance (Red Line): Detects recent price ceilings to define breakout levels. It provides a clear "BUY ABOVE" reference point.
🟢 Dynamic Support (Green Line): Identifies recent price floors to pinpoint breakdown zones with a clear "SELL BELOW" reference.
🔵 Automatic No-Trade Zone: Visualizes the "choppy" area between levels. A blue label warns you to stay sidelined during sideways movement to avoid overtrading.
🎯 Automated Targets: Features built-in target projections based on volatility, providing clear exit points on your chart.
🚫 Anti-Overlap Engine: Includes advanced logic to prevent label clutter. It works perfectly on low-priced Options (₹10-₹100) and high-priced Indices (Nifty/BankNifty/Gold) without labels overlapping each other.
⏱️ Best Timeframes for Optimal Results
While the script is universal, the following timeframes are recommended for the highest accuracy:
Intraday Trading (Options/Stocks): 5-Minute and 15-Minute charts.
Scalping: 1-Minute or 3-Minute (Best for high-volatility assets like Gold or Crypto).
Swing Trading: 1-Hour or Daily charts to identify macro supply and demand zones.
⚙️ How It Works
Entry Strategy: When the price closes a candle above the Red Line, a long position can be considered toward Target 1. Conversely, a close below the Green Line suggests a short setup.
Neutral Zone: As long as the price fluctuates between the labels, the market is in a "Wait & Watch" phase.
Customization: Users can adjust the Lookback Period for trend sensitivity and the ATR Multiplier to fine-tune label spacing for different screen resolutions.
⚠️ Disclaimer
Trading involves significant risk. This indicator is for educational and assistance purposes only. Past performance does not guarantee future results. Always use proper stop-loss and risk management protocols before entering any trade.
Overview
This is a Multi-Asset Technical Indicator designed to identify high-probability price levels based on natural market volatility. It automatically calculates and plots critical Support, Resistance, and No-Trade Zones, making it an essential tool for traders who want to eliminate manual charting errors.
Whether you are trading Options, Stocks, Crypto, or Forex, this script utilizes ATR (Average True Range) dynamics to ensure that labels and levels remain perfectly scaled, regardless of the asset's price.
✨ Key Features
🔴 Smart Resistance (Red Line): Detects recent price ceilings to define breakout levels. It provides a clear "BUY ABOVE" reference point.
🟢 Dynamic Support (Green Line): Identifies recent price floors to pinpoint breakdown zones with a clear "SELL BELOW" reference.
🔵 Automatic No-Trade Zone: Visualizes the "choppy" area between levels. A blue label warns you to stay sidelined during sideways movement to avoid overtrading.
🎯 Automated Targets: Features built-in target projections based on volatility, providing clear exit points on your chart.
🚫 Anti-Overlap Engine: Includes advanced logic to prevent label clutter. It works perfectly on low-priced Options (₹10-₹100) and high-priced Indices (Nifty/BankNifty/Gold) without labels overlapping each other.
⏱️ Best Timeframes for Optimal Results
While the script is universal, the following timeframes are recommended for the highest accuracy:
Intraday Trading (Options/Stocks): 5-Minute and 15-Minute charts.
Scalping: 1-Minute or 3-Minute (Best for high-volatility assets like Gold or Crypto).
Swing Trading: 1-Hour or Daily charts to identify macro supply and demand zones.
⚙️ How It Works
Entry Strategy: When the price closes a candle above the Red Line, a long position can be considered toward Target 1. Conversely, a close below the Green Line suggests a short setup.
Neutral Zone: As long as the price fluctuates between the labels, the market is in a "Wait & Watch" phase.
Customization: Users can adjust the Lookback Period for trend sensitivity and the ATR Multiplier to fine-tune label spacing for different screen resolutions.
⚠️ Disclaimer
Trading involves significant risk. This indicator is for educational and assistance purposes only. Past performance does not guarantee future results. Always use proper stop-loss and risk management protocols before entering any trade.
Script de código abierto
Fiel al espíritu de TradingView, el creador de este script lo ha convertido en código abierto, para que los traders puedan revisar y verificar su funcionalidad. ¡Enhorabuena al autor! Aunque puede utilizarlo de forma gratuita, recuerde que la republicación del código está sujeta a nuestras Normas internas.
Exención de responsabilidad
La información y las publicaciones no constituyen, ni deben considerarse como asesoramiento o recomendaciones financieras, de inversión, de trading o de otro tipo proporcionadas o respaldadas por TradingView. Más información en Condiciones de uso.
Script de código abierto
Fiel al espíritu de TradingView, el creador de este script lo ha convertido en código abierto, para que los traders puedan revisar y verificar su funcionalidad. ¡Enhorabuena al autor! Aunque puede utilizarlo de forma gratuita, recuerde que la republicación del código está sujeta a nuestras Normas internas.
Exención de responsabilidad
La información y las publicaciones no constituyen, ni deben considerarse como asesoramiento o recomendaciones financieras, de inversión, de trading o de otro tipo proporcionadas o respaldadas por TradingView. Más información en Condiciones de uso.