The next indicator draws support and resistance in up to three different timeframes on the same chart based on x bars each timeframe.
It has the next inputs:
- periods1: Number of bars to calculate support and resistance of timeframe1.
- periods2: Number of bars to calculate support and resistance of timeframe2.
- periods3: Number of bars to calculate support and resistance of timeframe3.
- timeframe1: First timeframe to calculate support and resistance.
- timeframe2: Second timeframe to calculate support and resistance.
- timeframe3: Third timeframe to calculate support and resistance.
- periods1: 100
- periods2: 100
- periods3: 100
- timeframe1: 1 Minutes
- timeframe2: 5 Minutes
- timeframe3: 15 Minutes
Based on above settings the indicator will plot supports and resistances based on 100 bars each timeframe that are M1, M5, M15. That means 100 bars calculated on M1, 100 bars calculated on M5 and 100 bars calculated on M15.
Every support and resistance can be customized in terms of colour, style, width.
Note: As this indicator is constantly updating as new bar forms it repaints past data when changing timeframe, changing symbol or updating chart so it makes no sense to backtest how price reacted to the levels.