Support & Resistance Aries

8 Haz

Support & Resistance Aries
This indicator automatically identifies support and resistance levels based on the highest and lowest closing prices within a configurable period.

How it works:
The user sets a calculation period (default is 20 candles).

The indicator plots:

Green line = Support: lowest closing price within the period.

Red line = Resistance: highest closing price within the period.

Adjustable parameter:
Calculation Period (1 to 200): defines how many candles are used to find the price extremes.

Purpose:
Helps users quickly visualize dynamic support and resistance zones that adjust as price evolves, making it easier to identify areas for potential entries, exits, and stop placements.

Important:
This indicator should not be used as a standalone buy or sell signal, nor as a trend confirmation tool on its own.
It is recommended to use it in combination with other technical analysis tools such as MACD, RSI, Volume, Moving Averages, among others, for a more complete market view.

Disclaimer:
Investing involves financial risk. Be cautious with both profits and losses. Always define a stop loss to avoid larger losses if the trend reverses.
One of the golden rules in trading is: a trader should not lose more than 3% to 5% of their capital per trade. Protecting your capital should always be the priority.

9 Haz

Sürüm Notları

Thank you all.

11 Haz

Sürüm Notları

Update:
Improved line colors using custom RGB values.
Added customizable background color.
Included background offset setting (0 = normal, up to 20).
Recommended background offset: 4.

13 Haz

Sürüm Notları

update colors thanks

13 Haz

Sürüm Notları

update label colors

13 Haz

Sürüm Notları

Update labels without background, text only, with offset unlocked (allow zero offset)

13 Haz

Sürüm Notları

"Sound Alerts Update"