OPEN-SOURCE SCRIPT
Advanced Support & Resistance - Volume Zones
**Advanced Support & Resistance - Volume Zones**
This indicator identifies potential support and resistance areas by detecting high-volume pivot points and converting them into visual price zones. Zones are created when unusual volume appears near local highs or lows, helping highlight areas where buying or selling pressure may have previously been significant.
The script includes automatic zone tuning that adjusts volume sensitivity, merge range, zone age, and visual zone thickness based on current market conditions and chart timeframe. This helps keep the zones proportional across very small timeframes, such as 1-second charts, as well as larger timeframes, including daily charts.
Key features include:
* High-volume support and resistance zone detection
* Automatic zone-setting adjustment based on market activity
* Automatic zone-appearance scaling by chart timeframe
* Optional volume-based zone widths
* Zone role reversal when price breaks through support or resistance
* Optional price-action swing lines for important pivot highs and lows that do not already have nearby volume zones
* Current bar volume status table showing volume, average volume, relative volume, and volume condition
* Customizable zone colors, opacity, borders, label size, and swing-line appearance
This script is designed to provide a cleaner view of meaningful support and resistance areas by combining volume activity with price structure. It can be useful for identifying possible reaction zones, breakout areas, retest levels, and areas of market interest.
As always, this indicator is intended as a visual analysis tool and should be used alongside your own trading plan, risk management, and confirmation methods.
Refinement assistance: Blue Finch
This indicator identifies potential support and resistance areas by detecting high-volume pivot points and converting them into visual price zones. Zones are created when unusual volume appears near local highs or lows, helping highlight areas where buying or selling pressure may have previously been significant.
The script includes automatic zone tuning that adjusts volume sensitivity, merge range, zone age, and visual zone thickness based on current market conditions and chart timeframe. This helps keep the zones proportional across very small timeframes, such as 1-second charts, as well as larger timeframes, including daily charts.
Key features include:
* High-volume support and resistance zone detection
* Automatic zone-setting adjustment based on market activity
* Automatic zone-appearance scaling by chart timeframe
* Optional volume-based zone widths
* Zone role reversal when price breaks through support or resistance
* Optional price-action swing lines for important pivot highs and lows that do not already have nearby volume zones
* Current bar volume status table showing volume, average volume, relative volume, and volume condition
* Customizable zone colors, opacity, borders, label size, and swing-line appearance
This script is designed to provide a cleaner view of meaningful support and resistance areas by combining volume activity with price structure. It can be useful for identifying possible reaction zones, breakout areas, retest levels, and areas of market interest.
As always, this indicator is intended as a visual analysis tool and should be used alongside your own trading plan, risk management, and confirmation methods.
Refinement assistance: Blue Finch
Script open-source
Nello spirito di TradingView, l'autore di questo script lo ha reso open source, in modo che i trader possano esaminarne e verificarne la funzionalità. Complimenti all'autore! Sebbene sia possibile utilizzarlo gratuitamente, ricordiamo che la ripubblicazione del codice è soggetta al nostro Regolamento.
Declinazione di responsabilità
Le informazioni e le pubblicazioni non sono intese come, e non costituiscono, consulenza o raccomandazioni finanziarie, di investimento, di trading o di altro tipo fornite o approvate da TradingView. Per ulteriori informazioni, consultare i Termini di utilizzo.
Script open-source
Nello spirito di TradingView, l'autore di questo script lo ha reso open source, in modo che i trader possano esaminarne e verificarne la funzionalità. Complimenti all'autore! Sebbene sia possibile utilizzarlo gratuitamente, ricordiamo che la ripubblicazione del codice è soggetta al nostro Regolamento.
Declinazione di responsabilità
Le informazioni e le pubblicazioni non sono intese come, e non costituiscono, consulenza o raccomandazioni finanziarie, di investimento, di trading o di altro tipo fornite o approvate da TradingView. Per ulteriori informazioni, consultare i Termini di utilizzo.