OPEN-SOURCE SCRIPT
Support, Resistance and Median with Trend
"This Pine Script indicator, 'Support, Resistance and Median with Trend', offers traders a comprehensive view of market dynamics using key technical analysis principles.
Key Features:
Dynamic Support and Resistance: The script calculates and plots support and resistance levels based on the highest highs and lowest lows over a customizable historical period.
Median Line: A median line is plotted between support and resistance, serving as a key reference for price action.
Trend Detection: The indicator determines the current trend by comparing the closing price to the median line, offering a simple yet effective trend identification method.
Visual Trend Indicator: A color-coded box in the top-right corner displays the current trend (Uptrend, Downtrend, or Neutral), providing at-a-glance trend information.
Level Projections: The script projects support, resistance, and median levels into future periods, helping traders anticipate potential price movements.
Customization: Users can adjust the historical length for calculations, allowing for fine-tuning based on individual trading styles and timeframes.
Key Features:
Dynamic Support and Resistance: The script calculates and plots support and resistance levels based on the highest highs and lowest lows over a customizable historical period.
Median Line: A median line is plotted between support and resistance, serving as a key reference for price action.
Trend Detection: The indicator determines the current trend by comparing the closing price to the median line, offering a simple yet effective trend identification method.
Visual Trend Indicator: A color-coded box in the top-right corner displays the current trend (Uptrend, Downtrend, or Neutral), providing at-a-glance trend information.
Level Projections: The script projects support, resistance, and median levels into future periods, helping traders anticipate potential price movements.
Customization: Users can adjust the historical length for calculations, allowing for fine-tuning based on individual trading styles and timeframes.
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Feragatname
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