RicardoSantos

[RS]Support and Resistance V0

Support and Resistance using donchian channels to validate tops/bottoms
(note: while donchians follow price closely within look back window, this will only update new top/bottom when making new extremes in the donchian channel)

combo with other systems:
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study("[RS]Support and Resistance V0", overlay=true)
window1 = input(title='lookback window 1:', type=integer, defval=8)
window2 = input(title='lookback window 2:', type=integer, defval=21)

top1 = valuewhen(high >= highest(high, window1), high, 0)
bot1 = valuewhen(low <= lowest(low, window1), low, 0)
top2 = valuewhen(high >= highest(high, window2), high, 0)
bot2 = valuewhen(low <= lowest(low, window2), low, 0)

t1 = plot(top1, color=top1 != top1[1] ? na : black)
b1 = plot(bot1, color=bot1 != bot1[1] ? na : black)
t2 = plot(top2, color=top2 != top2[1] ? na : black)
b2 = plot(bot2, color=bot2 != bot2[1] ? na : black)

fill(t1, t2, color=orange, transp=80)
fill(b1, b2, color=olive, transp=80)
Please add alert when the lines appears. Have a great day :-)
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what's happenign as I change the lookback window lengths? i can't get my mind wrapped around it, but i'm new to this.
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can i acces on the your strategy ?
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Não entendi o que significa as areas que se formam vermelhas e verdes....
+1 Reply
Is there anyway I could get a copy of this script??? I love it!
+6 Reply
This indicator draws the levels to the highest points. This is not a panacea. But this one draws true levels:
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@JinFlark, true level being the closing price of the candle?
+2 Reply
JinFlark boreddude001
@boreddude001, yes, and like you can see X-LINES analysed all tradingview instruments include cryptocurrency. Clear and true interesting market prices automatically!
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Hello Ricardo

Great indicator, however is there a chance to put indicators when the price touches the S/R lines like an up or down arrow. I use this indicator with an over sold and over bought indicator and they work very well.
+12 Reply
puilli Unh00ked
@Unh00ked, With what indicators complements this?
+9 Reply
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