RSI Multi-Timeframe S/R - Mehta

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Multi-Timeframe Dynamic Support & Resistance Indicator

This tool automatically detects key support and resistance levels across multiple timeframes — including 1-Day, 15-Minute, and 5-Minute charts — using a refined momentum-based algorithm with trend and volume confirmation.

It’s designed to help traders quickly identify confluence zones where intraday and higher-timeframe structures align, improving timing and risk management.
Key Features

Detects dynamic support and resistance zones with a built-in strength filter.

Uses multi-timeframe confirmation to reduce false levels.

Integrates volume-based reliability checks.

Automatically updates only the latest active levels to keep charts clean.

Includes a touch counter panel that tracks how often price interacts with each level (a proxy for zone strength).
Color & Structure Guide

🟩 Support Zones: Indicate potential accumulation areas.

🔴 Resistance Zones: Indicate potential supply or reaction areas.

Solid lines = Higher timeframe (stronger zones)

Dotted lines = Lower timeframe (shorter-term zones)
Best Use

Combine with your price-action or volume analysis to confirm reactions.

Particularly useful in spotting multi-timeframe overlaps — where the strongest reactions tend to occur.
Touch Counter: A handy table on the chart tracks how many times the price has tested each level, helping you gauge its strength.
Combine with Your Strategy: This indicator works best when combined with your existing price action analysis, candlestick patterns, or other confirmation indicators.
STRONG DISCLAIMER & RISK WARNING
PLEASE READ THIS CAREFULLY BEFORE USING THE INDICATOR.

No Financial Advice: This indicator is a technical analysis tool for educational and informational purposes only. It is NOT financial, investment, or trading advice. The creator of this script is not a registered financial advisor.

Not a Guarantee: Past performance is not indicative of future results. The signals and levels generated by this indicator are based on historical data and mathematical formulas and are not a guarantee of future price movement. There is a high risk of loss in trading.

Use at Your Own Risk: You are solely responsible for any trading decisions you make and the resulting profits or losses. Always conduct your own due diligence and consult with a qualified financial professional before engaging in any trade.
Backtest First: It is highly recommended to backtest this indicator and understand its behavior in different market conditions (trending, ranging, volatile) before using it with real capital.

Lagging Nature: Like most technical indicators, this tool is lagging. It reflects past and current market data, which may not accurately predict future price action.

By using this indicator, you acknowledge that you understand and accept these risks entirely.
Feel free to leave feedback, report bugs, or suggest improvements in the comments below!

Happy Trading!

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Sürüm Notları

Table of "number of touches " is removed and it is almost non-repaint now (i did my level best)