A multi-timeframe support and resistance indicator that helps traders identify key price levels by analyzing market data across different time frames and customizable settings.
Explore complementary indicator rolesHow it works
The support resistance script calculates key price levels by analyzing market data across multiple time frames without using the security function. Traders can select higher time frames ranging from 15 minutes to 12 months manually or through an auto option.
The indicator allows users to choose between using high/low or close/open values for calculating support and resistance levels. A loopback period determines the sensitivity of identifying highest and lowest bars, with smaller numbers producing more responsive results
Why it may be useful
This indicator helps traders identify critical support and resistance levels that can signal potential price reversals or breakout opportunities. By analyzing multiple time frames, traders gain a more comprehensive view of market dynamics and potential entry or exit points.
The customizable settings allow traders to adapt the indicator to different trading styles and market conditions. Understanding these key price levels can improve trade timing, risk management, and overall trading strategy
When to explore it
The support resistance indicator works best in trending and range-bound markets with clear price levels. It is most effective when used on liquid markets with consistent price movements. Traders should use this tool in conjunction with other technical analysis methods to confirm signals.
It is particularly useful for day traders and swing traders looking to identify potential entry and exit points. The indicator's multi-timeframe approach makes it versatile across different market conditions and asset classes
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What we’ve verified
Access, alerts and repainting behaviour have not been independently verified for this indicator. Check the creator’s current publication and settings.
General descriptions and classifications are recovered research. Verified details above identify the specific checks we have completed. Check the creator’s current publication for later changes.
