1Copy the scriptPress Copy script above, or the copy button on the code below.
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
79 lines of Pine Script v5 from Support & Resistance.pinescript, published under MIT. Keep the author's credit and licence lines when you reuse it.
Support & Resistance.pinescript
//@version=5
//=============================================================================================
// Creator: Woverine
//
// Source Code: https://github.com/RyKaj/PineScript/tree/main
//
// Purpose:
// Support & Resistance
//
//=============================================================================================
indicator('Woverine - Support & Resistance', overlay=true, shorttitle='S&R')
//-------------------------------------------------------------------------------------------------------------------------
// Plot colors
// https://chir.ag/projects/name-that-color/#6195ED
// https://kodify.net/tradingview/colours/basic-colours/
//-------------------------------------------------------------------------------------------------------------------------
// color colorAquaIsland = #B2DFDB
// color colorAzureRadiance = #0094ff
// color colorBlack = #363A45
// color colorBlazeOrange = #ff6a00
color colorBlue = #2196F3
// color colorBlueChill = #088A8D
// color colorBlushPink = #fd7fe6
// color colorBurntSienna = #EF5350
// color colorCandelLight = #FCD917
// color colorCoral = #FF7F50
// color colorCyan = #17FFFF
// color colorDeathCross = #e32636
// color colorFreshEggplant = #800080
// color colorFruitSalad = #4CAF50
// color colorGoldenCross = #61ed77
color colorGreen = #459915
// color colorJapaneseLaurel = #008000
// color colorGreen = #4CAF50
// color colorJungleGreen = #39ff14
// color colorKeyLimePie = #BCBB26
// color colorLilacBush = #9575cd
// color colorLime = #00E676
// color colorParsley = #0E4813
// color colorPastelPink = #FFCDD2
// color colorPurple = #9C27B0
color colorRed = #FF5252
// color colorRobinEggBlue = #00C9C9
// color colorRoseBudCherry = #880e4f
// color colorRusticRed = #4E0404
// color colorSaratoga = #505010
// color colorSpringGreen = #00E676
// color colorStarship = #F2F131
// color colorTamarillo = #991515
// color colorTeal = #00897B
// color colorTealBlue = #055355
// color colorTrendyGreen = #86851b
// color colorWhite = #FFFFFF
//--------------------------------------------------------------------------------
// Moddified [RS]Support and Resistance
//--------------------------------------------------------------------------------
int srLength = input( defval=21, title='Support / Resistance Length' )
float RSTT = ta.valuewhen( high >= ta.highest( high, srLength ), high, 0 )
float RSTB = ta.valuewhen( low <= ta.lowest( low, srLength ), low, 0 )
plot( series=RSTT, title='Support', color=RSTT != RSTT[1] ? na : colorGreen, linewidth=1, offset=0 )
plot( series=RSTB, title='Resistance', color=RSTB != RSTB[1] ? na : colorRed, linewidth=1, offset=0 )
//--------------------------------------------------------------------------------
// Directional Projection
//--------------------------------------------------------------------------------
string sStyle = input.string( defval='ATR', title='Average True Range' )
float avgHighValue = input.float( defval=13.00, title='Average True Range High Value' )
int avgLowValue = input.int( defval=1, title='Average True Range Low Value' )
bool bShowDirectional = input.bool( defval=false, title='Show Directional Projection Trend' )
symbolInfo = request.security( ticker.pointfigure( syminfo.tickerid, 'close', sStyle, avgHighValue, avgLowValue ), "1", close )
plot( series=bShowDirectional ? symbolInfo : symbolInfo == nz( symbolInfo[1] ) ? symbolInfo : na, color=color.new( colorBlue, transp=0 ), linewidth=2, style=plot.style_linebr, title='Directional Projection', offset=0 )
Overview
Support is drawn as a green line at the highest high over the specified length, and Resistance as a red line at the lowest low. An optional Directional Projection Trend line can be shown using ATR settings via request.security. The main settings allow changing the support/resistance length, ATR style, high and low values, and toggling the directional line. It draws horizontal lines that update only when new highs or lows are detected. The script does not repaint.
The inputs you can change from the gear icon on the chart. Defaults are the author's.
Setting
Type
Default
Variable
Support / Resistance Length
int
21
srLength
Average True Range
string
ATR
sStyle
Average True Range High Value
float
13.00
avgHighValue
Average True Range Low Value
int
1
avgLowValue
Show Directional Projection Trend
bool
false
bShowDirectional
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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