Dimensional Support Resistance

Dimensional Support Resistance [JOAT]

Overview
Dimensional Support Resistance is an open-source overlay indicator that automatically detects and displays clean, non-overlapping support and resistance levels using pivot-based analysis with intelligent filtering. It identifies significant swing highs and lows, filters them by minimum distance to prevent visual clutter, and provides volume-confirmed bounce signals.

What This Indicator Does
The indicator calculates and displays:

Dynamic Pivot Levels - Automatically detected swing highs and lows based on configurable pivot strength
Distance Filtering - Ensures levels are spaced apart by a minimum percentage to prevent overlap
S/R Zones - Visual zones around each level showing the price area of significance
Bounce Detection - Identifies when price reverses at support or resistance levels
Volume Confirmation - Strong signals require above-average volume for confirmation

How It Works

Pivot detection scans for swing highs and lows using a configurable strength parameter. A pivot low requires the low to be lower than all surrounding bars within the strength period.

Signal Generation
The indicator generates bounce signals using TradingView's built-in pivot detection combined with candle reversal confirmation:

Support Bounce: Pivot low forms with bullish close (close > open)
Resistance Bounce: Pivot high forms with bearish close (close < open)
Strong Bounce: Bounce occurs with volume 1.5x above 20-period average

A cooldown period of 15 bars prevents signal spam.

Dashboard Panel
A compact dashboard displays:

Support - Count of active support levels
Resistance - Count of active resistance levels

Dashboard position is configurable (Top Left, Top Right, Bottom Left, Bottom Right).

Visual Elements

Support Lines - Green horizontal lines at support levels
Resistance Lines - Red horizontal lines at resistance levels
S/R Zones - Semi-transparent boxes around levels showing zone width
Price Labels - S: and R: labels showing exact price of nearest levels
BOUNCE Markers - Triangle shapes with text when price bounces at a level
STRONG Markers - Label shapes when bounce occurs with high volume

Input Parameters

Lookback Period (default: 100) - Historical bars to scan for pivots
Pivot Strength (default: 8) - Bars on each side required for valid pivot (higher = fewer but stronger levels)
Max Levels Each Side (default: 2) - Maximum support and resistance levels displayed
Zone Width % (default: 0.15) - Width of zones around each level as percentage of price
Min Distance Between Levels % (default: 1.0) - Minimum spacing between levels to prevent overlap
Show S/R Zones (default: true) - Toggle zone visualization
Show Bounce Signals (default: true) - Toggle signal markers
Support Color (default: #00ff88) - Color for support elements
Resistance Color (default: #ff3366) - Color for resistance elements

Suggested Use Cases

Identify key support and resistance levels for entry and exit planning
Use bounce signals as potential reversal confirmation
Combine with other indicators for confluence-based trading decisions
Monitor strong signals for high-probability setups with volume confirmation

Timeframe Recommendations
Works on all timeframes. Higher timeframes (4H, Daily) provide more significant levels with fewer signals. Lower timeframes show more granular structure but may produce more noise.

Limitations

Pivot detection requires lookback bars, so very recent pivots may not be immediately visible
Bounce signals are based on pivot formation and may lag by the pivot strength period
Levels are recalculated on each bar, so they may shift as new pivots form

Open-Source and Disclaimer
This script is published as open-source under the Mozilla Public License 2.0 for educational purposes. It does not constitute financial advice. Past performance does not guarantee future results. Always use proper risk management and conduct your own analysis before trading.

- Made with passion by officialjackofalltrades

릴리즈 노트

Dynamic Pivot Levels - Automatically detected swing highs and lows based on configurable pivot strength
Distance Filtering - Ensures levels are spaced apart by a minimum percentage to prevent overlap
S/R Zones - Visual zones around each level showing the price area of significance
Bounce Detection - Identifies when price reverses at support or resistance levels
Volume Confirmation - Strong signals require above-average volume for confirmation

Pine Script®

릴리즈 노트

Reduced default settings to be safer for all plans:

Lookback: 80 → 50 (max 80)
Pivot Strength: 5 → 3 (max 6)
Stricter bounds in findPivots:

Max offset capped at 35 (was 90)
Safe strength capped at 5 (was 10)
Added extra bounds checking before accessing historical data
Fixed plotshape offset:

Changed from variable offset=-i_pivotStrength to constant offset=-3
Pine Script requires offset to be a simple int (compile-time constant)
Added display=display.pane to remove 0.00 values from status line

Fixed signal detection to use fixed pivot strength of 3 for consistent behavior

really sorry for the people who were having issues on this indicator, SOON v2 will be coming out with EVEN GREATER things!

stay tuned!

릴리즈 노트

max_bars_back=500 for better buffer allocation
Increased input limits (lookback up to 100, pivot strength up to 8, max levels up to 5)
Smarter bounds checking that uses bar_index dynamically instead of hardcoded limits
Lookback capped at 50 for performance but respects available bars

Really sorry for the people who were having errors with this indicator. It won't happen again and I will be sure of that! v2 will be even better and greater with more features and will not have any errors!! Really sorry about this, and I hope everyone uses this greatly with there strategy!

오픈 소스 스크립트

트레이딩뷰의 진정한 정신에 따라, 이 스크립트의 작성자는 이를 오픈소스로 공개하여 트레이더들이 기능을 검토하고 검증할 수 있도록 했습니다. 작성자에게 찬사를 보냅니다! 이 코드는 무료로 사용할 수 있지만, 코드를 재게시하는 경우 하우스 룰이 적용된다는 점을 기억하세요.

officialjackofalltrades

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Get Full Access 👇

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면책사항

해당 정보와 게시물은 금융, 투자, 트레이딩 또는 기타 유형의 조언이나 권장 사항으로 간주되지 않으며, 트레이딩뷰에서 제공하거나 보증하는 것이 아닙니다. 자세한 내용은 이용 약관을 참조하세요.

오픈 소스 스크립트

officialjackofalltrades

The AI Trading Ecosystem, Built to win trades 📈

Get Full Access 👇

jackofalltrades.vip 🌐

t.me/jackofalltradesvip 🃏

또한 다음에서도: