The idea is the same like in my other S/R script to look for areas of potencial reversals
You can either use it as moving average as cheatcountry intended or you can add S/R lines. If you want to look at more detailed, please visit cheatcountry's script where explains idea behind his moving average.
@bunulu, and have you changed also timeframe because the lines are created when the indicator spends some amount of candles at the level, which means lower timeframe on chart and higher timeframe on indicator
bunulu
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@lmatl, yes, i even tried same tf from you screenshot here
lmatl
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@bunulu, can you dm me on which market have you tried?
vynxevainglory
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I also just tried this on AXSUSDTPERP on multiple timeframes, and support lines did not show even with the option ticked
vynxevainglory
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@vynxevainglory, Update: I got this to work by changing the time frame several times between charts and the indicator both. It seems that many combinations don't work, but some do.
It looks like the MA needs and extended flat period (gray line) to generate the S/R, as well. So make sure your MA settings aren't too smooth.
lmatl
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@vynxevainglory, indeed the S/R lines are generated after some time MA spends on some level this behavior is controled by Candle Count setting and default value is 40 candles which means that after MA spends 40 candles on the level line is generated