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Support Resistance - Dynamic v2

This document describes the source code for a Pine Script indicator that identifies and plots support and resistance levels from pivot points. It defines inputs for configuring the indicator, calculates pivot points and support/resistance zones, and plots the levels and alerts if they are crossed.

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keerthanktrade1555
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460 views4 pages

Support Resistance - Dynamic v2

This document describes the source code for a Pine Script indicator that identifies and plots support and resistance levels from pivot points. It defines inputs for configuring the indicator, calculates pivot points and support/resistance zones, and plots the levels and alerts if they are crossed.

Uploaded by

keerthanktrade1555
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as TXT, PDF, TXT or read online on Scribd
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// This source code is subject to the terms of the Mozilla Public License 2.

0 at
https://mozilla.org/MPL/2.0/
// © LonesomeTheBlue

//@version=5
indicator('Support Resistance - Dynamic v2', 'SRv2', overlay=true)
prd = input.int(defval=10, title='Pivot Period', minval=4, maxval=30,
group='Setup')
ppsrc = input.string(defval='High/Low', title='Source', options=['High/Low',
'Close/Open'], group='Setup')
maxnumpp = input.int(defval=20, title=' Maximum Number of Pivot', minval=5,
maxval=100, group='Setup')
ChannelW = input.int(defval=10, title='Maximum Channel Width %', minval=1,
group='Setup')
maxnumsr = input.int(defval=5, title=' Maximum Number of S/R', minval=1, maxval=10,
group='Setup')
min_strength = input.int(defval=2, title=' Minimum Strength', minval=1, maxval=10,
group='Setup')
labelloc = input.int(defval=20, title='Label Location', group='Colors',
tooltip='Positive numbers reference future bars, negative numbers reference
histical bars')
linestyle = input.string(defval='Dashed', title='Line Style', options=['Solid',
'Dotted', 'Dashed'], group='Colors')
linewidth = input.int(defval=2, title='Line Width', minval=1, maxval=4,
group='Colors')
resistancecolor = input.color(defval=color.red, title='Resistance Color',
group='Colors')
supportcolor = input.color(defval=color.lime, title='Support Color',
group='Colors')
showpp = input(false, title='Show Point Points')

float src1 = ppsrc == 'High/Low' ? high : math.max(close, open)


float src2 = ppsrc == 'High/Low' ? low : math.min(close, open)
float ph = ta.pivothigh(src1, prd, prd)
float pl = ta.pivotlow(src2, prd, prd)

plotshape(ph and showpp, text='H', style=shape.labeldown, color=na,


textcolor=color.new(color.red, 0), location=location.abovebar, offset=-prd)
plotshape(pl and showpp, text='L', style=shape.labelup, color=na,
textcolor=color.new(color.lime, 0), location=location.belowbar, offset=-prd)

Lstyle = linestyle == 'Dashed' ? line.style_dashed : linestyle == 'Solid' ?


line.style_solid : line.style_dotted

//calculate maximum S/R channel zone width


prdhighest = ta.highest(300)
prdlowest = ta.lowest(300)
cwidth = (prdhighest - prdlowest) * ChannelW / 100

var pivotvals = array.new_float(0)

if ph or pl
array.unshift(pivotvals, ph ? ph : pl)
if array.size(pivotvals) > maxnumpp // limit the array size
array.pop(pivotvals)

get_sr_vals(ind) =>
float lo = array.get(pivotvals, ind)
float hi = lo
int numpp = 0
for y = 0 to array.size(pivotvals) - 1 by 1
float cpp = array.get(pivotvals, y)
float wdth = cpp <= lo ? hi - cpp : cpp - lo
if wdth <= cwidth // fits the max channel width?
if cpp <= hi
lo := math.min(lo, cpp)
else
hi := math.max(hi, cpp)

numpp += 1
numpp
[hi, lo, numpp]

var sr_up_level = array.new_float(0)


var sr_dn_level = array.new_float(0)
sr_strength = array.new_float(0)

find_loc(strength) =>
ret = array.size(sr_strength)
for i = ret > 0 ? array.size(sr_strength) - 1 : na to 0 by 1
if strength <= array.get(sr_strength, i)
break
ret := i
ret
ret

check_sr(hi, lo, strength) =>


ret = true
for i = 0 to array.size(sr_up_level) > 0 ? array.size(sr_up_level) - 1 : na by
1
//included?
if array.get(sr_up_level, i) >= lo and array.get(sr_up_level, i) <= hi or
array.get(sr_dn_level, i) >= lo and array.get(sr_dn_level, i) <= hi
if strength >= array.get(sr_strength, i)
array.remove(sr_strength, i)
array.remove(sr_up_level, i)
array.remove(sr_dn_level, i)
ret
else
ret := false
ret
break
ret

var sr_lines = array.new_line(11, na)


var sr_labels = array.new_label(11, na)

for x = 1 to 10 by 1
rate = 100 * (label.get_y(array.get(sr_labels, x)) - close) / close
label.set_text(array.get(sr_labels, x),
text=str.tostring(label.get_y(array.get(sr_labels, x))) + '(' + str.tostring(rate,
'#.##') + '%)')
label.set_x(array.get(sr_labels, x), x=bar_index + labelloc)
label.set_color(array.get(sr_labels, x), color=label.get_y(array.get(sr_labels,
x)) >= close ? color.red : color.lime)
label.set_textcolor(array.get(sr_labels, x),
textcolor=label.get_y(array.get(sr_labels, x)) >= close ? color.white :
color.black)
label.set_style(array.get(sr_labels, x), style=label.get_y(array.get(sr_labels,
x)) >= close ? label.style_label_down : label.style_label_up)
line.set_color(array.get(sr_lines, x), color=line.get_y1(array.get(sr_lines,
x)) >= close ? resistancecolor : supportcolor)

if ph or pl
//because of new calculation, remove old S/R levels
array.clear(sr_up_level)
array.clear(sr_dn_level)
array.clear(sr_strength)
//find S/R zones
for x = 0 to array.size(pivotvals) - 1 by 1
[hi, lo, strength] = get_sr_vals(x)
if check_sr(hi, lo, strength)
loc = find_loc(strength)
// if strength is in first maxnumsr sr then insert it to the arrays
if loc < maxnumsr and strength >= min_strength
array.insert(sr_strength, loc, strength)
array.insert(sr_up_level, loc, hi)
array.insert(sr_dn_level, loc, lo)
// keep size of the arrays = 5
if array.size(sr_strength) > maxnumsr
array.pop(sr_strength)
array.pop(sr_up_level)
array.pop(sr_dn_level)

for x = 1 to 10 by 1
line.delete(array.get(sr_lines, x))
label.delete(array.get(sr_labels, x))

for x = 0 to array.size(sr_up_level) > 0 ? array.size(sr_up_level) - 1 : na by


1
float mid = math.round_to_mintick((array.get(sr_up_level, x) +
array.get(sr_dn_level, x)) / 2)
rate = 100 * (mid - close) / close
array.set(sr_labels, x + 1, label.new(x=bar_index + labelloc, y=mid,
text=str.tostring(mid) + '(' + str.tostring(rate, '#.##') + '%)', color=mid >=
close ? color.red : color.lime, textcolor=mid >= close ? color.white : color.black,
style=mid >= close ? label.style_label_down : label.style_label_up))

array.set(sr_lines, x + 1, line.new(x1=bar_index, y1=mid, x2=bar_index - 1,


y2=mid, extend=extend.both, color=mid >= close ? resistancecolor : supportcolor,
style=Lstyle, width=linewidth))

f_crossed_over() =>
ret = false
for x = 0 to array.size(sr_up_level) > 0 ? array.size(sr_up_level) - 1 : na by
1
float mid = math.round_to_mintick((array.get(sr_up_level, x) +
array.get(sr_dn_level, x)) / 2)
if close[1] <= mid and close > mid
ret := true
ret
ret

f_crossed_under() =>
ret = false
for x = 0 to array.size(sr_up_level) > 0 ? array.size(sr_up_level) - 1 : na by
1
float mid = math.round_to_mintick((array.get(sr_up_level, x) +
array.get(sr_dn_level, x)) / 2)
if close[1] >= mid and close < mid
ret := true
ret
ret

alertcondition(f_crossed_over(), title='Resistance Broken', message='Resistance


Broken')
alertcondition(f_crossed_under(), title='Support Broken', message='Support Broken')

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