An indicator for the price chart that builds a ladder of resistance and support levels from a daily range divided by a divisor, measured from the daily, weekly or monthly open, with extra levels unlocking on strong runs and optional Fibonacci lines inside each step.
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
A daily regime locks to bull or bear after several agreeing conditions, and it limits the day to one signal, with a calculated stop and a target at the nearest ladder level.
The inputs you can change from the gear icon on the chart. Defaults are the author's.
Setting
Type
Default
Variable
Range Divisor
float
4.68
rangeDivisor
Level Baseline
string
Daily Open
levelBaseline
Historical Periods
int
12
historyPeriods
Auto-unlock R6–R10 / S6–S10 on a run
bool
true
autoUnlock
Show Main Levels
bool
true
showMainLevels
Show Baseline (open)
bool
true
showBaseline
R1
bool
true
showR1
R2
bool
true
showR2
R3
bool
true
showR3
R4
bool
true
showR4
R5
bool
true
showR5
R6
bool
false
showR6
Show all 40 settings
Setting
Type
Default
Variable
R7
bool
false
showR7
R8
bool
false
showR8
R9
bool
false
showR9
R10
bool
false
showR10
S1
bool
true
showS1
S2
bool
true
showS2
S3
bool
true
showS3
S4
bool
true
showS4
S5
bool
true
showS5
S6
bool
false
showS6
S7
bool
false
showS7
S8
bool
false
showS8
S9
bool
false
showS9
S10
bool
false
showS10
Price labels on current period
bool
true
showLabels
Show Fibonacci Lines
bool
false
showFibLines
0.236
bool
true
showFib236
0.382
bool
true
showFib382
0.500
bool
true
showFib500
0.618
bool
true
showFib618
0.786
bool
true
showFib786
Show Fibonacci Background
bool
false
showFibBackground
0.236 → 0.382
bool
false
showFibBg236382
0.382 → 0.500
bool
false
showFibBg382500
0.500 → 0.618
bool
false
showFibBg500618
0.618 → 0.786
bool
false
showFibBg618786
Show Cross Lines
bool
true
showCrossLines
Left Cross (period open)
bool
true
showLeftCross
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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