It also tells the strength of the lines calculated using a 4 times quicker and using its distance from the slower one.
The strongest plotted line has the maximum opacity and the weakest has the minimum opacity inside the given range.
This calculation results in an organic detection of the prices.
- You can set the distance range in percentage you want to have lines calculated around the current price.
- You can set the lines gravity distance inside which they are snapped together: the stronger line pulls the weaker to it by using strength weighted average for the new price value.
- You can increase the minimum opacity value in case you only see few lines (but the maximum is 15)
- You can change the used price for the lines to Close or High/Low but recommended is to use the average of those two (default)
The distances multiplier helps to get a birds eye view easily when using 4H (or higher) chart and a separate one to use on Daily / Weekly / Monthly for even broader view.
Lines and labels are drawn near the candles so you are still able to zoom in.
Labels are not drawn when their line is barely visible (transparency >= 80)
This indicator has been refined on the 15 minute and 1 hour charts of BTC and other cryptos but it works well in smaller markets as well if the distances are adjusted accordingly.
- Changed name to Organic Support and Resistance (OSR)
- Fixed minimum transparency setting
- Use EMA instead of SMA for volume average - only minor tweak but provides better values when there are sudden changes in volume
Sejalan dengan semangat TradingView, penulis skrip ini telah mempublikasikannya secara open-source, sehingga para trader dapat memahami dan memverifikasinya. Salut untuk sang penulis! Anda dapat menggunakannya secara gratis, tetapi penggunaan kembali kode ini dalam publikasi diatur oleh Tata Tertib. Anda dapat memfavoritkannya untuk dapat menggunakannya didalam sebuah chart.