OPEN-SOURCE SCRIPT
[PX] Lookback Level
Hey guys,
this indicator detects support and resistance level based on the number of times a level got tested in a certain range.
How does it work?
In the user input settings, you will be able to choose between two modes "Tested Level" and "Untested Level".
"Tested Level" will be detected by the number of times a certain low or high got tested in the "Lookback"-range, while fitting in the "Deviation"-range of the specific high or low. A crossing of the level is allowed. The "Untested Level" work the same way, but crossings of the level will eliminate it.
The indicator is highly dependent on which input you will use. Please play around with the settings and see how it works on different timeframes and symbols.
As always, it comes with styling options for the levels.
If some of you find it useful, please leave a like and hit the follow button :)
Happy trading,
paaax
this indicator detects support and resistance level based on the number of times a level got tested in a certain range.
How does it work?
In the user input settings, you will be able to choose between two modes "Tested Level" and "Untested Level".
"Tested Level" will be detected by the number of times a certain low or high got tested in the "Lookback"-range, while fitting in the "Deviation"-range of the specific high or low. A crossing of the level is allowed. The "Untested Level" work the same way, but crossings of the level will eliminate it.
The indicator is highly dependent on which input you will use. Please play around with the settings and see how it works on different timeframes and symbols.
As always, it comes with styling options for the levels.
If some of you find it useful, please leave a like and hit the follow button :)
Happy trading,
paaax
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.
🙋♂️Listed as "Trusted Pine Programmer for Hire"
💰Save $30 on your Tradingview subscription: bit.ly/3OtLyNz
🔓Indicator access: dize-trading.de/
🔒Trial access: discord.gg/DqwKjBZ8Qe
💰Save $30 on your Tradingview subscription: bit.ly/3OtLyNz
🔓Indicator access: dize-trading.de/
🔒Trial access: discord.gg/DqwKjBZ8Qe
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.
🙋♂️Listed as "Trusted Pine Programmer for Hire"
💰Save $30 on your Tradingview subscription: bit.ly/3OtLyNz
🔓Indicator access: dize-trading.de/
🔒Trial access: discord.gg/DqwKjBZ8Qe
💰Save $30 on your Tradingview subscription: bit.ly/3OtLyNz
🔓Indicator access: dize-trading.de/
🔒Trial access: discord.gg/DqwKjBZ8Qe
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.