OPEN-SOURCE SCRIPT
donchain support&resistance levels [LM]
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Hello Traders,
I would like to introduce you donchain support&resistance levels. The idea is to look for important levels that are identified by donchain line, where donchain usualy spents a lot of time without any move usualy turns out to be good level for bounces.
Also note that when there is a big spread between first line and second line it usually leads to some pullback.
Here you have an example of big spread:
You are also able to show donchain lines and not only horizontals this you can find in settings:
Enjoy!
I would like to introduce you donchain support&resistance levels. The idea is to look for important levels that are identified by donchain line, where donchain usualy spents a lot of time without any move usualy turns out to be good level for bounces.
Also note that when there is a big spread between first line and second line it usually leads to some pullback.
Here you have an example of big spread:
You are also able to show donchain lines and not only horizontals this you can find in settings:
Enjoy!
Notes de version
Added 2 new donchain settings by default 4h resolutionNotes de version
version 5 updateScript open-source
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