OPEN-SOURCE SCRIPT
profitzonetrades S/R + Strength + Sweeps
profitzonetrades S/R + Strength + Sweeps
profitzonetrades S/R + Strength + Sweeps is a technical analysis indicator designed to identify dynamic support and resistance zones, liquidity sweep rejections, and market reaction strength using price structure, candle behavior, and optional trend confirmation filters.
The script combines several technical analysis concepts into a single workflow focused on liquidity behavior and market structure analysis.
Technical Components Used
This indicator uses the following concepts and calculations:
Pivot Highs & Pivot Lows
Support & Resistance analysis
Liquidity sweep / fake breakout detection
Candle wick rejection analysis
Volume confirmation
EMA200 trend filtering
Dynamic level strength tracking
Dynamic Support & Resistance
The script automatically detects support and resistance levels using pivot-based swing structure.
These levels are:
updated dynamically
extended with price action
ranked by reaction strength
automatically removed when no longer significant
This helps traders focus on active market reaction zones.
Strength-Based Level System
The indicator tracks how often price reacts to each level.
The script measures:
repeated touches
reaction persistence
level interaction frequency
Stronger levels are visually emphasized using:
stronger colors
thicker lines
optional percentage labels
This allows traders to quickly identify more significant support and resistance areas.
Liquidity Sweep Detection
The indicator includes a liquidity sweep detection model designed to identify potential fake breakouts above resistance or below support.
The script evaluates:
breakouts beyond recent highs or lows
wick rejection size
candle body structure
close position relative to previous liquidity zones
Bearish sweeps occur when:
price moves above previous highs
then rejects back below resistance
Bullish sweeps occur when:
price moves below previous lows
then rejects back above support
These conditions may help traders identify liquidity grabs or failed breakout behavior.
Wick Rejection Analysis
The script compares:
candle body size
upper wick size
lower wick size
This helps identify stronger rejection candles and filter weaker breakout attempts.
Volume Confirmation Filter
An optional volume filter compares current volume against average market volume.
This filter may help:
validate stronger rejection candles
reduce weaker signals
improve signal quality during active market participation
EMA200 Trend Filter
The script optionally uses the Exponential Moving Average 200 (EMA200) as a directional trend filter.
EMA200 may be used to:
identify broader trend direction
filter counter-trend sweep signals
align setups with higher timeframe market bias
Bullish sweep signals can be filtered above EMA200, while bearish sweep signals can be filtered below EMA200.
Alerts
Custom alert conditions are included for:
bullish liquidity sweeps
bearish liquidity sweeps
These alerts can be connected to TradingView notifications or external automation systems.
Suggested Usage
This indicator may be useful for:
support and resistance analysis
liquidity sweep identification
fake breakout detection
trend continuation analysis
discretionary intraday trading
swing trading workflows
Many traders may choose to combine the script with:
higher timeframe analysis
market structure confirmation
independent risk management strategies
additional technical confluence
Notes
This script is designed as a technical analysis and chart visualization tool.
The indicator does not guarantee future results or profitable performance.
Market conditions, volatility, and liquidity may affect signal quality.
Users should test settings and parameters according to their own trading approach and market preferences.
Signals and levels may update dynamically during live candle formation until candle close.
profitzonetrades S/R + Strength + Sweeps is a technical analysis indicator designed to identify dynamic support and resistance zones, liquidity sweep rejections, and market reaction strength using price structure, candle behavior, and optional trend confirmation filters.
The script combines several technical analysis concepts into a single workflow focused on liquidity behavior and market structure analysis.
Technical Components Used
This indicator uses the following concepts and calculations:
Pivot Highs & Pivot Lows
Support & Resistance analysis
Liquidity sweep / fake breakout detection
Candle wick rejection analysis
Volume confirmation
EMA200 trend filtering
Dynamic level strength tracking
Dynamic Support & Resistance
The script automatically detects support and resistance levels using pivot-based swing structure.
These levels are:
updated dynamically
extended with price action
ranked by reaction strength
automatically removed when no longer significant
This helps traders focus on active market reaction zones.
Strength-Based Level System
The indicator tracks how often price reacts to each level.
The script measures:
repeated touches
reaction persistence
level interaction frequency
Stronger levels are visually emphasized using:
stronger colors
thicker lines
optional percentage labels
This allows traders to quickly identify more significant support and resistance areas.
Liquidity Sweep Detection
The indicator includes a liquidity sweep detection model designed to identify potential fake breakouts above resistance or below support.
The script evaluates:
breakouts beyond recent highs or lows
wick rejection size
candle body structure
close position relative to previous liquidity zones
Bearish sweeps occur when:
price moves above previous highs
then rejects back below resistance
Bullish sweeps occur when:
price moves below previous lows
then rejects back above support
These conditions may help traders identify liquidity grabs or failed breakout behavior.
Wick Rejection Analysis
The script compares:
candle body size
upper wick size
lower wick size
This helps identify stronger rejection candles and filter weaker breakout attempts.
Volume Confirmation Filter
An optional volume filter compares current volume against average market volume.
This filter may help:
validate stronger rejection candles
reduce weaker signals
improve signal quality during active market participation
EMA200 Trend Filter
The script optionally uses the Exponential Moving Average 200 (EMA200) as a directional trend filter.
EMA200 may be used to:
identify broader trend direction
filter counter-trend sweep signals
align setups with higher timeframe market bias
Bullish sweep signals can be filtered above EMA200, while bearish sweep signals can be filtered below EMA200.
Alerts
Custom alert conditions are included for:
bullish liquidity sweeps
bearish liquidity sweeps
These alerts can be connected to TradingView notifications or external automation systems.
Suggested Usage
This indicator may be useful for:
support and resistance analysis
liquidity sweep identification
fake breakout detection
trend continuation analysis
discretionary intraday trading
swing trading workflows
Many traders may choose to combine the script with:
higher timeframe analysis
market structure confirmation
independent risk management strategies
additional technical confluence
Notes
This script is designed as a technical analysis and chart visualization tool.
The indicator does not guarantee future results or profitable performance.
Market conditions, volatility, and liquidity may affect signal quality.
Users should test settings and parameters according to their own trading approach and market preferences.
Signals and levels may update dynamically during live candle formation until candle close.
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.