Volatility Support & Resistance [LM] — Indicator by lmatl

volatility supportandresistance averagetruerange atr support resistence

Hello guys,

I would like to introduce you volatility support and resistance horizontals. It draws line horizontal on high and low vhighly volatile candles. You can select lines on this timeframe and/or another one. It's done in the same spirit like my other indicators for horizontals

The colors are dynamic depending whether price is below or above the line:

for the current timeframe green is used for support and blue for resistance
for the other timeframe by default 4h orange is used for support and violet for resistance

There are various sections in setting:

general settings - here you can select ATR length, multiplier and show labels
show and hide section of the current timeframe
other timeframe
show and hide other timeframe horizontals

Any suggestions are welcome

Open-source script

In true TradingView spirit, the author of this script has published it open-source, so traders can understand and verify it. Cheers to the author! You may use it for free, but reuse of this code in a publication is governed by House Rules. You can favorite it to use it on a chart.

Disclaimer

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