Support n Resitance V2
- Indicators
- Version: 2.20
The Support n Resistance V2 is an advanced technical indicator that automatically calculates and plots highly accurate S/R channels based on Pivot Points . Upgraded with ATR volatility filtering and Smart Classification, this tool not only finds key levels but also analyzes historical price action and tick volume to validate the strength of each zone .
Key Features
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Smart Classification: Automatically analyzes historical wick rejections and price touches to classify levels strictly as Support (S), Resistance (R), or Both (B) .
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Volume/Smart Money Filter: Utilizes tick volume as an Open Interest (OI) proxy to detect and highlight high-volume institutional levels .
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ATR Volatility Filter: Dynamically adjusts channel widths and minimum level distances based on current market volatility (ATR) .
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Clean Chart Display: Plots neat lines with clear text labels showing the level type, strength, and a special [V] tag for high-volume zones . Optional display for raw Pivot Point arrows .
Main Input Parameters
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Setup: Configure Pivot Period, Source (High/Low or Close), and the maximum number of channels to display .
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ATR Filter: Toggle ATR filtering and set the minimum channel distance .
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Classification: Choose between Simple, Advanced (Historical Rejections), or Hybrid classification methods .
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Volume Filter: Toggle the Tick Volume proxy and set the High Volume Multiplier threshold .
