Convex SR Rejection Levels
- Indicatori
- Versione: 1.10
Convex SR Rejection Levels is a clean, non-repainting indicator that highlights price rejections at swing support and resistance - the moments where price pierces a level and snaps back inside.
WHAT IT DOES
- Detects swing pivots and draws the active support (blue) and resistance (red) levels on your chart.
- Marks a SELL arrow when a narrow-body candle pierces a resistance with its upper wick and closes back below it (bearish rejection).
- Marks a BUY arrow when a narrow-body candle pierces a support with its lower wick and closes back above it (bullish rejection).
- Optional alert (popup, push notification and sound) when a new signal closes.
RECOMMENDED USE
Designed for M1-M15 on indices (US30, US500, USTEC, JP225) and major forex pairs, but it works on any symbol and timeframe. Use it to time entries on pullbacks to key levels and to keep your chart free of subjective hand-drawn lines.
KEY INPUTS
- PivotLR: bars on each side to confirm a swing pivot
- LevelExpiry: how long a level stays active (bars)
- BodyRatio / WickRatio: define the narrow-body, long-wick rejection candle
- AnchorATR: how far the wick may pierce the level (in ATR)
- UseSession + hours: restrict signals to your trading session
- DrawLevels, MaxLevels, colors and alert options
NOTES
If this indicator helps your trading, please leave a rating and a review. Your feedback helps us improve future versions and develop new tools.
This is a decision-support tool, not a buy/sell guarantee. Always combine the signals with your own analysis and risk management. The indicator does not place trades.
=== LIVE PERFORMANCE ===
This indicator marks the same support/resistance rejection entries that our automated Convex system trades on a live account. See the strategy working in real time, verified by MQL5:
