OPEN-SOURCE SCRIPT
S & R - Trend Lines & Channels (Prince of Arabs)
Support and Resistance with Trend Channels
This indicator identifies key support and resistance levels based on swing highs and lows over a user-defined lookback period. It also visualizes dynamic trend channels to help traders understand price ranges and market structure.
Key features include:
Support Level: Marked with a green line and labeled "Support," indicating potential buying areas.
Resistance Level: Marked with a red line and labeled "Resistance," indicating potential selling areas.
Trend Channels: Dashed blue (upper) and purple (lower) lines show the price range above resistance and below support, helping to identify overbought and oversold conditions.
Clear Entry Signals: A "Buy" label is displayed near the price when it approaches the support level within a user-defined backtesting range.
Stop Loss and Take Profit Levels: Automatically calculated based on customizable percentages and visualized on the chart for each trade.
Risk-to-Reward Visualization: The indicator simplifies risk management by showing trade levels dynamically.
This indicator identifies key support and resistance levels based on swing highs and lows over a user-defined lookback period. It also visualizes dynamic trend channels to help traders understand price ranges and market structure.
Key features include:
Support Level: Marked with a green line and labeled "Support," indicating potential buying areas.
Resistance Level: Marked with a red line and labeled "Resistance," indicating potential selling areas.
Trend Channels: Dashed blue (upper) and purple (lower) lines show the price range above resistance and below support, helping to identify overbought and oversold conditions.
Clear Entry Signals: A "Buy" label is displayed near the price when it approaches the support level within a user-defined backtesting range.
Stop Loss and Take Profit Levels: Automatically calculated based on customizable percentages and visualized on the chart for each trade.
Risk-to-Reward Visualization: The indicator simplifies risk management by showing trade levels dynamically.
Script open-source
Dans le plus pur esprit TradingView, l'auteur de ce script l'a publié en open-source, afin que les traders puissent le comprendre et le vérifier. Bravo à l'auteur! Vous pouvez l'utiliser gratuitement, mais la réutilisation de ce code dans une publication est régie par nos Règles. Vous pouvez le mettre en favori pour l'utiliser sur un graphique.
Vous voulez utiliser ce script sur un graphique ?
Clause de non-responsabilité
Les informations et les publications ne sont pas destinées à être, et ne constituent pas, des conseils ou des recommandations en matière de finance, d'investissement, de trading ou d'autres types de conseils fournis ou approuvés par TradingView. Pour en savoir plus, consultez les Conditions d'utilisation.