OPEN-SOURCE SCRIPT
Cody Support and Resistance
Cody Support & Resistance - Automatic S/R levels based on Bill Williams Fractals. Identifies key support/resistance zones with breakout alerts.
Description (Full)
📊 Overview
This indicator automatically plots Support and Resistance levels using Bill Williams Fractal logic. It helps traders identify key price zones where reversals or breakouts are likely to occur.
🔑 Key Features
Automatic S/R Levels - Fractal-based support (green) and resistance (red) levels
Visual Fractals - Blue circles for down fractals, orange circles for up fractals
Breakout Alerts - Get notified when price breaks above resistance or below support
Customizable Periods - Adjust the fractal sensitivity with the "Periods" input (default: 2)
🎯 How It Works
Resistance (Red Line) - Forms when price makes a lower high on both sides (down fractal)
Support (Green Line) - Forms when price makes a higher low on both sides (up fractal)
Breakout Buy Alert - Triggers when price closes above resistance
Breakdown Sell Alert - Triggers when price closes below support
📈 How to Use
Add to your chart
Look for green (support) and red (resistance) horizontal levels
Price bouncing off support → potential long entry
Price rejecting resistance → potential short entry
Price breaking through → trend continuation signal
⚙️ Settings
Periods - Number of bars on each side of the fractal (higher = fewer, stronger levels)
📣 Alerts Available
Breakout Buy - Price broke resistance
Breakdown Sell - Price broke support
🙏 Credits
Original fractal logic: Matthew Spencer
Support/resistance adaptation: Kunal Patel
Compiled by: Cody
🔔 Tags (for TradingView publishing)
Support and Resistance Fractals Breakout Levels Swing Trading Price Action
Would you like me to adjust the tone (more technical, simpler, shorter) or add anything else?
Description (Full)
📊 Overview
This indicator automatically plots Support and Resistance levels using Bill Williams Fractal logic. It helps traders identify key price zones where reversals or breakouts are likely to occur.
🔑 Key Features
Automatic S/R Levels - Fractal-based support (green) and resistance (red) levels
Visual Fractals - Blue circles for down fractals, orange circles for up fractals
Breakout Alerts - Get notified when price breaks above resistance or below support
Customizable Periods - Adjust the fractal sensitivity with the "Periods" input (default: 2)
🎯 How It Works
Resistance (Red Line) - Forms when price makes a lower high on both sides (down fractal)
Support (Green Line) - Forms when price makes a higher low on both sides (up fractal)
Breakout Buy Alert - Triggers when price closes above resistance
Breakdown Sell Alert - Triggers when price closes below support
📈 How to Use
Add to your chart
Look for green (support) and red (resistance) horizontal levels
Price bouncing off support → potential long entry
Price rejecting resistance → potential short entry
Price breaking through → trend continuation signal
⚙️ Settings
Periods - Number of bars on each side of the fractal (higher = fewer, stronger levels)
📣 Alerts Available
Breakout Buy - Price broke resistance
Breakdown Sell - Price broke support
🙏 Credits
Original fractal logic: Matthew Spencer
Support/resistance adaptation: Kunal Patel
Compiled by: Cody
🔔 Tags (for TradingView publishing)
Support and Resistance Fractals Breakout Levels Swing Trading Price Action
Would you like me to adjust the tone (more technical, simpler, shorter) or add anything else?
开源脚本
秉承TradingView的精神，该脚本的作者将其开源，以便交易者可以查看和验证其功能。向作者致敬！您可以免费使用该脚本，但请记住，重新发布代码须遵守我们的网站规则。
免责声明
这些信息和出版物并非旨在提供，也不构成TradingView提供或认可的任何形式的财务、投资、交易或其他类型的建议或推荐。请阅读使用条款了解更多信息。
开源脚本
秉承TradingView的精神，该脚本的作者将其开源，以便交易者可以查看和验证其功能。向作者致敬！您可以免费使用该脚本，但请记住，重新发布代码须遵守我们的网站规则。
免责声明
这些信息和出版物并非旨在提供，也不构成TradingView提供或认可的任何形式的财务、投资、交易或其他类型的建议或推荐。请阅读使用条款了解更多信息。