TAASA Lines of Support and Resistance
This is a simple TAASA indicator displaying support/resistance levels.
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Lines plotting principle
Support and resistance lines
- Based on extreme points sorted out by the Frames parameter (minimum distance between adjacent extreme points in bars).
Trading levels (the default is blue).
- The price crosses the level not more than InpIntersection times.
- After crossing the market, the volatility exceeds MinSSh points.
- Open and Close prices of the candle that crossed the level are located on different sides of the level.
- After crossing, the price did not approach the level closer than for MaxSNed points (the last Ignor_bar bars are not considered in this calculation).
- Frames - accuracy of fractals
- InpIntersection - number of permissible level crossings
- Ignor_bar - number of the last ignored bars when calculating the price approaching the level
- MinSSh - minimum market volatility for forming levels, in points
- MaxSNed - maximum price approach to the level for ignoring it, in points
- MaxBarsAnalize - number of bars for forming the levels (display depth)
- Resistance - color of resistance lines
- Support - color of support lines
- Strong level - color of important levels
- Line width - line width
- Line style - line style