Support/Resistance MTF Merge Zones

28 Tem

Indicator Introduction
Support/Resistance MTF Merge Zones is an advanced technical analysis tool that automatically identifies and merges key support/resistance zones by analyzing highs and lows from multiple timeframes (15M, 1H, 4H, Daily).
Key Features

Multi-Timeframe Analysis: Integrates data from 15M, 1H, 4H, and Daily charts
Smart Zone Merging: Automatically consolidates levels within a specified percentage range into unified zones
Dynamic Color System: Distinguishes support/resistance zones based on position relative to current price
Strength Indication: Highlights zones where multiple levels converge as strong zones


Usage Guide
Configuration Parameters

Lookback Period (10): Period for calculating highs/lows

Adjustable range: 5-30
Higher values detect more long-term levels


Zone Merge % (0.5): Percentage threshold for zone merging

Range: 0.1-2.0%
Higher values merge levels across wider price ranges


Min Levels for Zone (2): Minimum number of levels required to form a zone

Range: 2-5 levels
Higher values display only more confirmed zones


Box Opacity (7): Transparency level of zone boxes

Range: 0-100%



Color Scheme

Red: Resistance zones above current price
Blue: Support zones below current price
Orange: Strong zones (3+ merged levels)

28 Tem

Sürüm Notları

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Use the numbers by changing them in different time zones

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