OPEN-SOURCE SCRIPT
M&M Nifty Edge Level
Opening Price–Based Resistance Zones
Resistance zones (R1 & R2) are derived from the current day’s opening price using configurable percentage distances.
These zones highlight potential supply areas where upward price movement may slow down or reverse.
🟩 Opening Price–Based Support Zones
Support zones (S1 & S2) are also calculated from the opening price using adjustable percentage bands.
These areas mark potential demand zones where price may find support or bounce.
🎯 Visual Structure
Magic Line displayed as a customizable horizontal line
Resistance zones shown in orange
Support zones shown in green
Zones appear as shaded price areas between two levels
All levels are drawn as clean, non-connected lines for clear intraday structure
⚙️ Customization
Users can:
Adjust all percentage values for zones
Change line colors, widths, and styles
Modify zone transparency
Show or hide Magic Line and Zones independently
Resistance zones (R1 & R2) are derived from the current day’s opening price using configurable percentage distances.
These zones highlight potential supply areas where upward price movement may slow down or reverse.
🟩 Opening Price–Based Support Zones
Support zones (S1 & S2) are also calculated from the opening price using adjustable percentage bands.
These areas mark potential demand zones where price may find support or bounce.
🎯 Visual Structure
Magic Line displayed as a customizable horizontal line
Resistance zones shown in orange
Support zones shown in green
Zones appear as shaded price areas between two levels
All levels are drawn as clean, non-connected lines for clear intraday structure
⚙️ Customization
Users can:
Adjust all percentage values for zones
Change line colors, widths, and styles
Modify zone transparency
Show or hide Magic Line and Zones independently
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.