PROTECTED SOURCE SCRIPT
TraderTroys 5MMSR
TraderTroys 5 Minute Major Support / Resistance Indicator
This is to only be used on the 5 minute time frame. It's sole purpose is to reveal up coming major support and resistance.
Green = Less reliable
Yellow = More reliable
Red = Very reliable
However, I would recommend back testing this *by applying it to your chart and watching how price action plays with the lines.*
I would not recommend only trading based off this indicator, but use it as a form of confluence with others.
It's built around multiplications of the average price.
Here is a great example of it working:
This is to only be used on the 5 minute time frame. It's sole purpose is to reveal up coming major support and resistance.
Green = Less reliable
Yellow = More reliable
Red = Very reliable
However, I would recommend back testing this *by applying it to your chart and watching how price action plays with the lines.*
I would not recommend only trading based off this indicator, but use it as a form of confluence with others.
It's built around multiplications of the average price.
Here is a great example of it working:
Script protégé
Ce script est publié en source fermée. Toutefois, vous pouvez l'utiliser librement et sans aucune restriction - en savoir plus ici.
Trading Community: bit.ly/tradingcomm
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.
Script protégé
Ce script est publié en source fermée. Toutefois, vous pouvez l'utiliser librement et sans aucune restriction - en savoir plus ici.
Trading Community: bit.ly/tradingcomm
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.