OPEN-SOURCE SCRIPT
Support, Resistance, MA, and ADX
Summary
This comprehensive script provides traders with a tool that highlights critical levels of support and resistance, detects significant price breakouts with volume confirmation, identifies potential reversals with wick analysis, and plots a moving average that changes color based on trend strength as indicated by the ADX. It is useful for spotting entry and exit points, confirming breakouts, and identifying trend direction and strength.
This comprehensive script provides traders with a tool that highlights critical levels of support and resistance, detects significant price breakouts with volume confirmation, identifies potential reversals with wick analysis, and plots a moving average that changes color based on trend strength as indicated by the ADX. It is useful for spotting entry and exit points, confirming breakouts, and identifying trend direction and strength.
Open-source script
In true TradingView spirit, the creator of this script has made it open-source, so that traders can review and verify its functionality. Kudos to the author! While you can use it for free, remember that republishing the code is subject to our House Rules.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Open-source script
In true TradingView spirit, the creator of this script has made it open-source, so that traders can review and verify its functionality. Kudos to the author! While you can use it for free, remember that republishing the code is subject to our House Rules.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.