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Draw Support and Resistance Levels

A move above the Pivot Point suggests strength with a target to the first resistance. A break above first resistance shows even more strength with a target to the further resistance levels.

A move below the Pivot Point suggests weakness with a target to the first Support level. A break below the first Support level shows even more weakness with a target to the further support levels.

This script will draw horizontal lines from the calculation of the PivotType based on the previous price bar for the chart period.

Parameters

  • PivotType - Standard, Fibonacci
Matthew Todorovski
12347
Matthew Todorovski 2018.06.12 16:29 
 

User didn't leave any comment to the rating

Ali irwan
5166
Ali irwan 2017.07.27 00:49 
 

good product

Francis Dogbe
10548
Francis Dogbe 2016.04.20 23:30 
 

Pivot points has always been my style. Great job

Version 150.803 2015.08.07
Added the new parameter ENUM_TIMEFRAMES FibPeriod=PERIOD_W1 - select the period for calculating the levels