Moving Average Channel plots separate simple moving averages for upper and lower bands on the price chart. It fills the space between bands with semi-transparent color and colors bars green above the upper band, red below the lower band, or gray in between. Us
Indicator · Pine Script v4 · On the chart
Support Resistance Channels
This indicator plots support and resistance channels on the price chart from pivot highs and lows.
GitHub stars2on the repository
Pine versionv4older, still runs
Lines of code243
Settings15inputs
LicenceNone stated
Last update5 years ago6 Jul 2021
Add It to Your TradingView Chart
- 1Copy the scriptPress Copy script above. It reads the file straight from GitHub.
- 2Open the Pine EditorOpen a TradingView chart and choose Pine Editor at the bottom of the screen.
- 3Paste over the templateCreate a new indicator, select all of the template text and paste. Press Save and give it a name.
- 4Add it to the chartPress Add to chart, then adjust the settings with the gear icon next to its name.
Source Code
The code stays on GitHub. The author has not published this script under an open licence, so ForexR does not show its code. Copy script reads the file straight from GitHub into your clipboard, so you can still try it on your own chart. Ask the author before reusing the code anywhere else.
Overview
Support Resistance Channels groups nearby pivots into channels whose width is a percentage of the recent high-low range, then draws the strongest levels. Users set the pivot period, high-low or open-close source, maximum channel width, how many levels appear, and the loopback window. Drawing can start from a date or bar count and can be limited to recent bars. Optional marks show pivots, weaker levels, and broken support or resistance. It does not generate trade entries or exits.
- Pivot high and low detection
- Support and resistance channels
- Adjustable channel width and level count
- Optional weak and broken levels
- Date or bar calculation start
Details
Published by
Felix735735 on GitHub
Type
Indicator, Pine Script v4
Draws
On the price chart
Category
Support & resistance
Markets
Any symbol
Timeframes
Any timeframe
Risk Notes
No repainting, lookahead or stacked entries were found in its code or README. That says nothing about how well it works: test it first.
File
Settings
The inputs you can change from the gear icon on the chart. Defaults are the author's.
| Setting | Type | Default | Variable |
|---|---|---|---|
| Pivot Period | int | 10 | prd |
| Source | string | High/Low | ppsrc |
| Maximum Channel Width % | int | 3 | ChannelW |
| Number of S/R to show | int | 7 | maxnumsr |
| Loopback Period | int | 292 | loopback |
| Show S/R on last # Bars | int | 292 | showlast |
| Check the Date or Bars to Start | string | Bars | startdatebar |
| Start Date | time | timestamp("1 Jan 2020 00:00 +0000") | startdate |
| Starting Bar | int | 400 | startbar |
| Show Weak S/R levels | bool | true | showweaksr |
| Resistance Color | color | color.new(color.red, 60) | res_col |
| Support Color | color | color.new(color.lime, 60) | sup_col |
Show all 15 settings
| Setting | Type | Default | Variable |
|---|---|---|---|
| Color When Price in Channel | color | color.new(color.gray, 60) | inch_col |
| Show Pivot Points | bool | false | showpp |
| Show Broken Support/Resistance | bool | false | showsrbroken |
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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