About This Indicator This indicator plots support (pivot low) and resistance (pivot high) using the chart timeframe and second editable timeframe.
How it can be useful Having higher timeframe support and resistance plotted on a lower timeframe chart helps keep you grounded in the current range the price is in. This can be useful when wanting to avoid taking longs at resistance and shorts at support.
How to use Adjusting the look back and look ahead will impact how frequently the support and resistance lines move. When Price breaks above resistance or below support, the lines will not move until a new pivot high and pivot low are detected.
Disclaimer: Not Financial Advice
ملاحظات الأخبار
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You can now select both timeframes instead of being locked to the chart timeframe for the first timeframe. Added labels too.
Hello. First thanks for the indicator. I implemented some improvements in a fork and added 6 timeframes, as shown in this figure. I wanted to know if you want to take a look and then put it in the source code.
andre_007
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andre_007
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Or I could create a separate indicator, giving you the original credits.
Crypto_Eli
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@andre_007, Where is your indicator? I don't see it, thanks!
andre_007
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@Crypto_Eli, Hello, it's not yet public. I was waiting for the author's response.
manishverma83
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Hey, can you pl elaborate what does bar look back and look forward actually mean here, and how to find an optimised period for particular TF.
jordanfray
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@manishverma83, bar look back is how far back you want to look to find the swing high or swing low. The default on the indicator is set based on my backtesting and should be a good starting point.
I wanted to know if you want to take a look and then put it in the source code.