Multi ZZ - Support/Resistence

Experimental and probably can be improved further.

Method of deriving support/resistence is as follows:

  • Calculate Zigzags and start pushing them to SR array as and when they form
  • If any of the existing item is within the small distance - merge them. ATR is used to find if the prices are close by.
  • Whenever we merge two pivots , strength of support keeps increasing. This means, price has bounced off this point more time. Hence, keep track of number of pivots merged together.
  • Keep removing old pivots which are far away based on Loopback input

And that's all we got the full list of support and resistence points.

Now, to filter insignificant pivots , chose only those points which has been merged by more than Min Pivots input. Width of the support/resistence lines also will be thicker for the pivots which has more count. Hence thicker line imply strong support and resistence whereas the thinner ones are minor ones.
ملاحظات الأخبار: Convert to Pine 5
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