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Güncellendi Support and Resistance with High Volume Candles + Touch Count

# **Indicator Notes: S& R with High Volume Candles + Touch Count - Mehta-**
## **Overview**
This indicator identifies potential **support** and **resistance** levels based on **high-volume candles** and tracks the number of times price touches these levels within a user-defined lookback period.
### **Key Features:**
1. **High-Volume Candle Detection:**
- **Support** is identified from high-volume **green (bullish)** candles.
- **Resistance** is identified from high-volume **red (bearish)** candles.
2. **Touch Count:**
- Tracks how many times price revisits a support/resistance level within a specified lookback period.
- Helps assess the strength of a level (more touches may indicate stronger significance).
3. **Customizable Parameters:**
- **Period:** Adjusts the lookback for average volume calculation.
- **Volume Multiplier:** Sets the threshold for high-volume detection.
- **Touch Count Lookback:** Defines how many bars back to count touches.
- **Line Colors & Label Position:** Customize visual appearance.
## **How to Use**
- **Support/Resistance Breakouts:** Watch for price closing beyond these levels with confirmation.
- **Bounce Trading:** Look for reactions (bounces/rejections) near identified levels.
- **Touch Count Insight:** Higher touch counts may indicate stronger levels.
---
## **Disclaimer**
### **Risk Warning:**
Trading involves substantial risk and may not be suitable for all investors. The use of this indicator does not guarantee profits or eliminate risks associated with trading.
### **Limitations:**
1. **Historical Performance ≠ Future Results:** Past price behavior does not ensure future outcomes.
2. **False Signals:** The indicator may generate levels that do not hold.
3. **Market Conditions:** Works best in trending markets; may produce less reliable signals in choppy conditions.
### **Recommendations:**
- Use in conjunction with other technical analysis tools (e.g., trendlines, moving averages).
- Always apply proper risk management (stop-loss, position sizing).
- Test in a demo account before live trading.
### **No Financial Advice:**
This indicator is for educational purposes only and should not be considered financial advice. Consult a licensed financial advisor before making trading decisions.
DO NOT TRADE BASED ON THIS INDICATOR. TRADING IS A RISK PROCESS
## **Overview**
This indicator identifies potential **support** and **resistance** levels based on **high-volume candles** and tracks the number of times price touches these levels within a user-defined lookback period.
### **Key Features:**
1. **High-Volume Candle Detection:**
- **Support** is identified from high-volume **green (bullish)** candles.
- **Resistance** is identified from high-volume **red (bearish)** candles.
2. **Touch Count:**
- Tracks how many times price revisits a support/resistance level within a specified lookback period.
- Helps assess the strength of a level (more touches may indicate stronger significance).
3. **Customizable Parameters:**
- **Period:** Adjusts the lookback for average volume calculation.
- **Volume Multiplier:** Sets the threshold for high-volume detection.
- **Touch Count Lookback:** Defines how many bars back to count touches.
- **Line Colors & Label Position:** Customize visual appearance.
## **How to Use**
- **Support/Resistance Breakouts:** Watch for price closing beyond these levels with confirmation.
- **Bounce Trading:** Look for reactions (bounces/rejections) near identified levels.
- **Touch Count Insight:** Higher touch counts may indicate stronger levels.
---
## **Disclaimer**
### **Risk Warning:**
Trading involves substantial risk and may not be suitable for all investors. The use of this indicator does not guarantee profits or eliminate risks associated with trading.
### **Limitations:**
1. **Historical Performance ≠ Future Results:** Past price behavior does not ensure future outcomes.
2. **False Signals:** The indicator may generate levels that do not hold.
3. **Market Conditions:** Works best in trending markets; may produce less reliable signals in choppy conditions.
### **Recommendations:**
- Use in conjunction with other technical analysis tools (e.g., trendlines, moving averages).
- Always apply proper risk management (stop-loss, position sizing).
- Test in a demo account before live trading.
### **No Financial Advice:**
This indicator is for educational purposes only and should not be considered financial advice. Consult a licensed financial advisor before making trading decisions.
DO NOT TRADE BASED ON THIS INDICATOR. TRADING IS A RISK PROCESS
Sürüm Notları
Just name changed so that it can be easily identified.Sürüm Notları
1. Key Features of the Indicator- Volume-Confirmed S/R Levels: Marks levels where price reversed on high-volume candles.
- Touch Count Tracking: Shows how many times price tested a level (more touches = stronger level).
- Dynamic Zones: Plots **historical S/R zones** based on pivot points, volume, and momentum.
- Customizable Sensitivity: Adjust parameters for different markets (stocks, forex, crypto).
2. How to Interpret the Signals
A. High-Volume S/R Lines (Solid Lines)
-Green Line (Support):
- Drawn when a **high-volume green candle** (bullish) forms.
- Price is likely to **bounce** at this level if tested again.
- Label shows: Price + Touch Count (e.g., `150.50 (T: 3) = tested 3 times).
- Red Line (Resistance):
- Drawn when a high-volume red candle (bearish) forms.
- Price is likely to reject at this level if tested again.
B. Historical S/R Zones (Dashed Areas)
- Red Dashed Zones: Clusters of historical resistance (price struggled to break higher).
- Green Dashed Zones: Clusters of historical support (price bounced multiple times).
- The opacity of zones reflects their strength (darker = stronger).
3. Parameter Adjustments for Better Accuracy
| Input | Recommended Setting | Purpose |
|------------------------|------------------------|-----------------------------------------------------------------------------|
| `Lookback Period` | 200 (default) | Increase for longer-term levels, decrease for short-term trading. |
| `Sensitivity` | 0.8–1.2 | Higher = fewer but stronger levels. Lower = more levels (but weaker). |
| `Volume Multiplier` | 1.5–2.0 | Higher = only extreme volume candles are considered. |
| `Zone Opacity` | 70–90 | Adjust visibility of historical zones. |
- For Intraday: Reduce `lookbackPeriod` to 20–50 and `volume_threshold` to 1.2–1.5.
- For Swing Trading: Use default settings.
THIS INFORMATION IS ONLY FOR EDUCATIONAL PURPOSE NOT FOR TRADING. ALWAYS TAKE THE ADVICE OF YOUR FINANCIAL EXPERT.
Korumalı komut dosyası
Bu komut dosyası kapalı kaynak olarak yayınlanmaktadır. Ancak, özgürce ve herhangi bir sınırlama olmaksızın kullanabilirsiniz – daha fazla bilgi burada.
Feragatname
Bilgiler ve yayınlar, TradingView tarafından sağlanan veya onaylanan finansal, yatırım, işlem veya diğer türden tavsiye veya tavsiyeler anlamına gelmez ve teşkil etmez. Kullanım Şartları'nda daha fazlasını okuyun.
Korumalı komut dosyası
Bu komut dosyası kapalı kaynak olarak yayınlanmaktadır. Ancak, özgürce ve herhangi bir sınırlama olmaksızın kullanabilirsiniz – daha fazla bilgi burada.
Feragatname
Bilgiler ve yayınlar, TradingView tarafından sağlanan veya onaylanan finansal, yatırım, işlem veya diğer türden tavsiye veya tavsiyeler anlamına gelmez ve teşkil etmez. Kullanım Şartları'nda daha fazlasını okuyun.