Set the maximum data points to look back for a support resistance line, then set the pivot point threshold and your off to the races.
Very effective solution to have your support resistance points automatically show up on your chart. A good tip is to include 2 or 3 of this indicator on your chart with varying levels of degree for support and resistance...
It is used to detect volume resistors in a personalized way, since it allows the user to enter the volume in which he wishes the resistance to jump automatically.
It does not mark the black line and the graphic that's just to help understand how it works
in the above image can see the indicator works on 30 minutes chart...
Indicator returns an average of 5 SMAs. an interesting point that I have noticed that the price has several times reacted on it.
Note 1: Do not just use this as a criterion for buying and selling, use as one more aid.
Note 2: It is possible to leave in the chart all the averages, if you feel it...
This script identifies multi-timeframe fractal level, which can be used as support and resistance.
If you are looking for someone to develop your own indicator or trading strategy, don't hesitate to get in touch with me here on TradingView or below.