paaax

[PX] Lookback Level

Hey guys,

this indicator detects support and resistance level based on the number of times a level got tested in a certain range.

How does it work?

In the user input settings, you will be able to choose between two modes "Tested Level" and "Untested Level".

"Tested Level" will be detected by the number of times a certain low or high got tested in the "Lookback"-range, while fitting in the "Deviation"-range of the specific high or low. A crossing of the level is allowed. The "Untested Level" work the same way, but crossings of the level will eliminate it.

The indicator is highly dependent on which input you will use. Please play around with the settings and see how it works on different timeframes and symbols.

As always, it comes with styling options for the levels.

If some of you find it useful, please leave a like and hit the follow button :)

Happy trading,
paaax

Script open-source

Dans le plus pur esprit de TradingView, l'auteur de ce texte 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 les règles internes. Vous pouvez le mettre en favori pour l'utiliser sur un graphique.

Vous voulez utiliser ce script sur un graphique ?
http://www.pascal-simon.de - Custom indicator development

Commentaires

This is really great. Love it.
+2 Répondre
hi paaax Hit the like and follow tht you deserve for wonderful work.
+1 Répondre
Great
+1 Répondre