← All Analyses
BTCUSD
RSI EMA WMA
// This work is licensed under a Attribution-NonCommercial-ShareAlike 4.0 International (CC BY-NC-SA 4.0) https://creativecommons.org/licenses/by-nc-sa/4.0/
// © LuxAlgo
//@version = 4
study(title=" Support and Resistance Levels with Breaks",shorttitle = " Support and Resistance Levels with Breaks [LuxAlgo]", overlay = true , max_bars_back=1000)
//
toggleBreaks = input(true, title = "Show Breaks" )
leftBars = input(15, title = "Left Bars ")
rightBars = input(15, title = "Right Bars")
volumeThresh = input(20, title = "Volume Threshold")
//
highUsePivot = fixnan(pivothigh(leftBars, rightBars)[1])
lowUsePivot = fixnan(pivotlow(leftBars, rightBars)[1])
r1 = plot(highUsePivot, color=change(highUsePivot) ? na : #FF0000, linewidth=3, offset=-(rightBars+1), title="Resistance")
s1 = plot(lowUsePivot, color=change(lowUsePivot) ? na : #233dee, linewidth=3, offset=-(rightBars+1), title="Support")
//Volume %
short = ema(volume, 5)
long = ema(volume, 10)
osc = 100 * (short - long) / long
//For breaks with volume
plotshape(toggleBreaks and crossunder(close,lowUsePivot) and not (open - close < high - open) and osc > volumeThresh, title = "Break", text = 'B', style = shape.labeldown, location = location.abovebar, color= color.red,textcolor = color.white, transp = 0, size = size.tiny)
plotshape(toggleBreaks and crossover(close,highUsePivot ) and not(open - low > close - open) and osc > volumeThresh, title = "Break", text = 'B', style = shape.labelup, location = location.belowbar, color= color.green,textcolor = color.white, transp = 0, size = size.tiny)
//For bull / bear wicks
plotshape(toggleBreaks and crossover(close,highUsePivot ) and open - low > close - open , title = "Break", text = 'Bull Wick', style = shape.labelup, location = location.belowbar, color= color.green,textcolor = color.white, transp = 0, size = size.tiny)
plotshape(toggleBreaks and crossunder(close,lowUsePivot) and open - close < high - open , title = "Break", text = 'Bear Wick', style = shape.labeldown, location = location.abovebar, color= color.red,textcolor = color.white, transp = 0, size = size.tiny)
alertcondition(crossunder(close,lowUsePivot) and osc > volumeThresh , title = "Support Broken" , message = "Support Broken")
alertcondition(crossover(close,highUsePivot) and osc > volumeThresh, title = "Resistance Broken" , message = "Resistance Broken")
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by GoCharting. Read more in the Terms of Use.
Comments (0)
Loading comments…
