OPEN-SOURCE SCRIPT
Support Resistance - Dynamic v2 w/ Timeframe option
Updated
This script is a modification from the awesome "Support Resistance - Dynamic v2" by LonesomeTheBlue
https://www.tradingview.com/script/va09eWAp-Support-Resistance-Dynamic-v2/
This script is very similar to the original indicator mentioned above, but with a modification that, in my opinion, would be very useful for many traders. It enables the option to choose different timeframe to calculate the S/R levels. Very often, traders would like to use higher timeframes to define S/R levels, rather than using the same timeframe that they are trading at. For example, if trading at 5min, we often use 15min, 30min or 1hr timeframe to define our S/R levels.
For example, below shows S/R levels from three different timeframes:
https://www.tradingview.com/x/HPFHcBty/
Hope you find value in this indicator~ Enjoy~
https://www.tradingview.com/script/va09eWAp-Support-Resistance-Dynamic-v2/
This script is very similar to the original indicator mentioned above, but with a modification that, in my opinion, would be very useful for many traders. It enables the option to choose different timeframe to calculate the S/R levels. Very often, traders would like to use higher timeframes to define S/R levels, rather than using the same timeframe that they are trading at. For example, if trading at 5min, we often use 15min, 30min or 1hr timeframe to define our S/R levels.
For example, below shows S/R levels from three different timeframes:
https://www.tradingview.com/x/HPFHcBty/
Hope you find value in this indicator~ Enjoy~
Release Notes
Updated with additional display settings:- toggle display for labels
- Customizable label and text colors
Fixed bug on displaying 'H' and 'L' pivots
Attempted to fix the observation that S/R lines of the same timeframe are inconsistent on different chart timeframes. Improved slightly, but not completely fixed.
Release Notes
Minor correction to typo in setting.Release Notes
removed max limit on 'Pivot Period' and 'Maximum Number of Pivot' settingsRelease Notes
Updated script to address the issue of lines not matching with lines generated at higher timeframe. Please note that this fix only works if the higher timeframe selected isn't "too far" away from the chart timeframe.Example:
Release Notes
fixed bug from last update:- bug fixed: "Study Error - Error on bar 0. The study references too many candles in history" on non-intraday charts
If you make $$$ off it, consider donating some of your juicy gain :)
Buy me a coffee - buymeacoffee.com/PtGambler
PayPal - paypal.me/PtGambler
You can reach me privately through my Discord Channel: discord.gg/WMQfaVGyQC
Buy me a coffee - buymeacoffee.com/PtGambler
PayPal - paypal.me/PtGambler
You can reach me privately through my Discord Channel: discord.gg/WMQfaVGyQC
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 publication is governed by House rules. You can favorite it to use it on a chart.
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 TradingView. Read more in the Terms of Use.