MTF ohlc S/R

14 Nis 2020

A very simple idea, a close (or high, low, ohlc4 or open) from a higher Time Frame
will give future Support/Resistance area's

In this example of BTC/USD we see:
- Yearly close 2017 gave Resistance in June 2019
- Yearly close 2018 gave Support in March 2020



We are now pushing to the Resistance of Yearly close 2019...

Since there is a limit for the amount of lines (since it is just too much if everything is plotted)
there are different options:
- 4 different Time Frames, each can be enabled/disabled,
- TF can be chosen,
- source can be changed (close, open, high, low, ohlc4)

- Period can be changed, for example TF Month:

You can choose just to show a particular year, Month,...




You also can choose between which prices you want to see lines,
for example Monthly close, since the beginning till now, but only between $6000 - $8000:


This helps to know the closest S/R around the present price

Other example:


- Lines can be extended to the right, or not
- Labels can be enabled/disabled:



- Linewidth and brightness of the line can be changed, also the style (solid, dashed or dotted line)

Default only 2 very high TF's are enabled (3 Month = one quarter, and 1 Year)
The 3 Month has a dotted line, which helps distinguish the line against the yearly line

- Prices above 1000 are rounded since it seems distracting to see for example 6478,878654,
seems better just to see 6479, prices below 1000 are just seen as intended

Have fun!

14 Nis 2020

Sürüm Notları

Added color choice (Color 1 or 2) with different brightness

29 Ağu 2024

Sürüm Notları

Updated to v5.
Elevated the line limit to 500.