informanerd

Stronger Classical Support/Resistance + Round Levels

I wrote some Support/Resistance scripts before this. In this new script, I implemented the logic of the code from the scratch, so it's very different from my previous S/R indicators and I think it's more advanced , accurate and efficient.
As the result it could do the followings for now:
- Draw more strong classical resistance/support levels by checking previous direction changes of the chart as far as Pine technically allows
- Colorize the levels based on the counted points of retracement/pullback (The darker the color is, the stronger the level is.)
- Show the number of reactions to each level
- Change the color of each level based on its main role as support, resistance or both
- Draw close round levels to current price for Forex pairs

I suggest all users of my previous S/R indicators to try this one.
Feel free to send me any issue or opinion!
Skrip open-source

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 a publication is governed by House Rules. You can favorite it to use it on a chart.

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