OPEN-SOURCE SCRIPT
Support_V1
Credit: Concept by TradingLion · Pine Script v6 implementation
What it does
Plots horizontal support/resistance lines only at volatility-qualified pivot highs and lows — pivots where price moved at least ADR × Multiplier from the previous pivot. Shallow, noise-level swings are ignored. Nearby levels within Merge Within % are automatically collapsed into one. Only the most recent Max Pivots levels stay visible.
Settings
Setting What it controls
Max Pivots Max lines on chart at any time
Breakout Threshold ADR or fixed % used for breakout arrow signals
Merge Within % Collapses two levels that are closer than this % apart
Breakout % Threshold when using Percent mode for breakout signals
ADR Lookback Bars used to compute Average Daily Range
ADR Multiplier Scales the ADR — higher = only larger moves qualify as pivots
Extend Bars Right How far the line projects to the right of the current bar
How to use
Paste into TradingView Pine Editor → Add to chart
Start with defaults (ADR Lookback 20, Multiplier 1, Max Pivots 2)
Raise ADR Multiplier (e.g. 2) on volatile stocks to filter out noise
Raise Merge Within % (e.g. 5–10) in tight consolidations to keep one clean level
Extend Bars Right controls how far ahead the line projects — set to match your typical hold period in bars
What it does
Plots horizontal support/resistance lines only at volatility-qualified pivot highs and lows — pivots where price moved at least ADR × Multiplier from the previous pivot. Shallow, noise-level swings are ignored. Nearby levels within Merge Within % are automatically collapsed into one. Only the most recent Max Pivots levels stay visible.
Settings
Setting What it controls
Max Pivots Max lines on chart at any time
Breakout Threshold ADR or fixed % used for breakout arrow signals
Merge Within % Collapses two levels that are closer than this % apart
Breakout % Threshold when using Percent mode for breakout signals
ADR Lookback Bars used to compute Average Daily Range
ADR Multiplier Scales the ADR — higher = only larger moves qualify as pivots
Extend Bars Right How far the line projects to the right of the current bar
How to use
Paste into TradingView Pine Editor → Add to chart
Start with defaults (ADR Lookback 20, Multiplier 1, Max Pivots 2)
Raise ADR Multiplier (e.g. 2) on volatile stocks to filter out noise
Raise Merge Within % (e.g. 5–10) in tight consolidations to keep one clean level
Extend Bars Right controls how far ahead the line projects — set to match your typical hold period in bars
Script de código abierto
Fiel al espíritu de TradingView, el creador de este script lo ha convertido en código abierto, para que los traders puedan revisar y verificar su funcionalidad. ¡Enhorabuena al autor! Aunque puede utilizarlo de forma gratuita, recuerde que cualquier republicación del código está sujeta a nuestras Normas internas.
Exención de responsabilidad
La información y las publicaciones no constituyen, ni deben considerarse como, asesoramiento o recomendaciones financieras, de inversión, de trading u otro tipo, proporcionadas o respaldadas por TradingView. Obtenga más información en Condiciones de uso.
Script de código abierto
Fiel al espíritu de TradingView, el creador de este script lo ha convertido en código abierto, para que los traders puedan revisar y verificar su funcionalidad. ¡Enhorabuena al autor! Aunque puede utilizarlo de forma gratuita, recuerde que cualquier republicación del código está sujeta a nuestras Normas internas.
Exención de responsabilidad
La información y las publicaciones no constituyen, ni deben considerarse como, asesoramiento o recomendaciones financieras, de inversión, de trading u otro tipo, proporcionadas o respaldadas por TradingView. Obtenga más información en Condiciones de uso.