OPEN-SOURCE SCRIPT
IndicatorNeo_Support_Resistance_Alerts
## IndicatorNeo_Support_Resistance_Alerts
IndicatorNeo_Support_Resistance_Alerts is a breakout-focused TradingView indicator that identifies confirmed support and resistance levels using pivot highs and pivot lows. It helps traders monitor potential long and short breakout opportunities while providing structured alert messages containing the entry, stop-loss, and take-profit levels.
### Key Features
- Automatically detects support from confirmed pivot lows.
- Automatically detects resistance from confirmed pivot highs.
- Filters nearby levels to reduce chart noise and repeated level updates.
- Supports two minimum-distance calculation methods:
- Percentage-based distance
- ATR-based distance using `ta.atr(14) × ATR Multiplier`
- Displays support and resistance levels as extended horizontal lines.
- Generates long signals when price crosses above the latest resistance.
- Generates short signals when price crosses below the latest support.
- Uses confirmed bar-close signals to reduce intrabar noise.
- Calculates stop-loss and take-profit levels using ATR-based price distance.
- Provides independent Stop and Target multipliers.
- Supports machine-readable alert messages for automation and external systems.
### Alert Format
Long signal:
```
signal=long | entry=200.5 | stop=195.5 | target=210.5
```
Short signal:
```
signal=short | entry=200.5 | stop=205.5 | target=195.5
```
### How It Works
A support or resistance level is accepted only when the detected pivot is sufficiently far from the latest opposing level. The minimum distance can be calculated using either a percentage threshold or an ATR-based threshold.
When a confirmed candle closes across the latest resistance, the indicator generates a long signal. When a confirmed candle closes below the latest support, it generates a short signal.
Stop-loss and take-profit distances are based on:
```
ATR Distance = ta.atr(14) × ATR Multiplier
```
The configured Stop Multiplier and Target Multiplier independently scale the stop-loss and take-profit distances.
### Important Notes
This indicator is designed to detect breakout conditions and calculate reference risk levels. It does not place, manage, or close broker orders. Traders should combine the signals with their own market analysis, risk management, and trading plan. Past performance does not guarantee future results.
IndicatorNeo_Support_Resistance_Alerts is a breakout-focused TradingView indicator that identifies confirmed support and resistance levels using pivot highs and pivot lows. It helps traders monitor potential long and short breakout opportunities while providing structured alert messages containing the entry, stop-loss, and take-profit levels.
### Key Features
- Automatically detects support from confirmed pivot lows.
- Automatically detects resistance from confirmed pivot highs.
- Filters nearby levels to reduce chart noise and repeated level updates.
- Supports two minimum-distance calculation methods:
- Percentage-based distance
- ATR-based distance using `ta.atr(14) × ATR Multiplier`
- Displays support and resistance levels as extended horizontal lines.
- Generates long signals when price crosses above the latest resistance.
- Generates short signals when price crosses below the latest support.
- Uses confirmed bar-close signals to reduce intrabar noise.
- Calculates stop-loss and take-profit levels using ATR-based price distance.
- Provides independent Stop and Target multipliers.
- Supports machine-readable alert messages for automation and external systems.
### Alert Format
Long signal:
```
signal=long | entry=200.5 | stop=195.5 | target=210.5
```
Short signal:
```
signal=short | entry=200.5 | stop=205.5 | target=195.5
```
### How It Works
A support or resistance level is accepted only when the detected pivot is sufficiently far from the latest opposing level. The minimum distance can be calculated using either a percentage threshold or an ATR-based threshold.
When a confirmed candle closes across the latest resistance, the indicator generates a long signal. When a confirmed candle closes below the latest support, it generates a short signal.
Stop-loss and take-profit distances are based on:
```
ATR Distance = ta.atr(14) × ATR Multiplier
```
The configured Stop Multiplier and Target Multiplier independently scale the stop-loss and take-profit distances.
### Important Notes
This indicator is designed to detect breakout conditions and calculate reference risk levels. It does not place, manage, or close broker orders. Traders should combine the signals with their own market analysis, risk management, and trading plan. Past performance does not guarantee future results.
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.
PUSH(Persist-Until-Success-Happens)
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.
PUSH(Persist-Until-Success-Happens)
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.