Get started
OPEN-SOURCE SCRIPT

Local Limit Lower

By Electrified
Updated
Displays recent higher and lower lows.

In it's simplicity is a lot more powerful than might appear at first glance.
  • Does not rely on volatility calculation.
  • Can be linked together to create an objective view of recent support levels.
  • Makes current trends more visible.
  • Excellent as a trailing stop algorithm.


Can be used with its sibling: Local Limit Upper
Release Notes
Reuse code from Local Limits.
Margin is now implemented properly.
Release Notes
Eliminated buggy bar sensitivity option as the indicator works as intended without it.
Release Notes
Code cleanup. Removed unused parameter.
Release Notes
Added trend change values for more reliable alerts.

ALERTING:
Simply select the "Change" value and alert on "Greater Than" or "Less Than" zero depending on which direction you want to detect.
Release Notes
Updated username/copyright.
Breadth IndicatorslimitLOWSupport and ResistancetrailingstopTrend Analysis

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.

Want to use this script on a chart?

Electrified

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.