Support and Resistance finds pivot highs and lows using configurable left and right bar counts and keeps the most recent levels, merging nearby pivots into one zone and counting touches.
Zones are drawn as boxes and lines with optional labels, plus break and test markers. A zero-lag EMA can be shown. Because each pivot needs right-side bars to confirm, levels appear after a delay equal to the right bar count. It draws on the price chart.
The inputs you can change from the gear icon on the chart. Defaults are the author's.
Setting
Type
Default
Variable
Left Bars
int
10
leftBars
Right Bars
int
10
rightBars
Max Levels Shown
int
8
maxLevels
Zone Width (%)
float
0.3
zonePct
Show S/R Zones
bool
true
i_showZones
Show Break/Test Signals
bool
true
i_showSignals
Show Level Labels
bool
true
i_showLabels
Show Zero-Lag EMA
bool
true
i_showEMA
EMA Length
int
21
emaLen
Resistance Color
color
color.red
resColor
Support Color
color
color.green
supColor
Third-party code. ForexR did not write, test or endorse this script, and the summary above was generated automatically from its code and README. Indicators describe the past, and a strategy's backtest can look better than live trading, especially when a script repaints. Check it in the Strategy Tester and on a demo account before you rely on it.
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