OPEN-SOURCE SCRIPT
Extended Support and Resistance Levels
Indicator: Extended Support and Resistance Levels
This Pine Script indicator dynamically calculates support and resistance levels based on recent price action and projects these levels into the future.
Support is determined by the lowest low over a user-defined period, while Resistance is defined by the highest high over the same period.
The indicator draws lines at the calculated support and resistance levels and extends them into the future, allowing traders to visualize potential future levels where price might react.
The extension of these lines helps in identifying areas where price may respect support or resistance in the upcoming bars.
The user can adjust the period for support/resistance calculation and the number of bars for projection, providing flexibility to adapt to different timeframes and market conditions.
This tool is ideal for traders looking to anticipate future key price levels based on historical price data, helping with decision-making on potential entry or exit points.
This Pine Script indicator dynamically calculates support and resistance levels based on recent price action and projects these levels into the future.
Support is determined by the lowest low over a user-defined period, while Resistance is defined by the highest high over the same period.
The indicator draws lines at the calculated support and resistance levels and extends them into the future, allowing traders to visualize potential future levels where price might react.
The extension of these lines helps in identifying areas where price may respect support or resistance in the upcoming bars.
The user can adjust the period for support/resistance calculation and the number of bars for projection, providing flexibility to adapt to different timeframes and market conditions.
This tool is ideal for traders looking to anticipate future key price levels based on historical price data, helping with decision-making on potential entry or exit points.
Script open-source
Dans l'esprit de TradingView, le créateur de ce script l'a rendu open-source, afin que les traders puissent examiner et vérifier sa fonctionnalité. Bravo à l'auteur! Vous pouvez l'utiliser gratuitement, mais n'oubliez pas que la republication du code est soumise à nos Règles.
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 open-source
Dans l'esprit de TradingView, le créateur de ce script l'a rendu open-source, afin que les traders puissent examiner et vérifier sa fonctionnalité. Bravo à l'auteur! Vous pouvez l'utiliser gratuitement, mais n'oubliez pas que la republication du code est soumise à nos Règles.
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.