Taught to Trade - Support & Resistance Touch Count
Most support and resistance tools draw zones. This one also counts how often price actually came back to them, and compares that count against plain round-number levels of the same width, over the same window, in the same price band.
If pivot zones get entered about as often as arbitrary round numbers, the zones are measuring price's general tendency to revisit places it has been - not anything special about pivots. This tool lets you check that on your own charts instead of taking anyone's word for it.
WHAT IT DRAWS
- Zones around the most recent confirmed pivot highs and lows. A pivot is only confirmed after the lookback has passed, so no zone uses information that did not exist when it was drawn.
- A readout table: the lookback and zone width in use, how many times price entered the zones, the entry rate per 100 bars, the same rate for round-number levels, the ratio between the two, and the window it was measured over.
WHAT COUNTS AS AN ENTRY
A bar that overlaps a zone when the bar before it did not. Sitting inside a zone for ten bars is one entry, not ten. Counting starts at the pivot's confirmation bar, and a zone that price is already inside at confirmation only counts once price has left and come back.
THE CONTROL
Round-number levels at an automatic step (about four ATRs, rounded to 1, 2 or 5 times a power of ten), or a step you choose. Same width rule as the zones, same window, and only the levels inside the band the zones occupy. Both rates are expressed per level per 100 bars, so they are directly comparable.
THE TWO FREE PARAMETERS, KEPT VISIBLE
Pivot lookback decides which swings become zones. Zone width decides how often anything gets entered - wider zones are entered more often purely because they are bigger. Both are shown in the table, and the width rule is applied identically to the control so the comparison stays fair.
ALERTS
Conditions you can arm yourself: price entered a zone drawn from a pivot high, or price entered a zone drawn from a pivot low. Nothing is sent unless you set it up.
WHERE IT FAILS
- An entry is not a reaction. The count says price came back to a zone, not that it turned there.
- The control is imperfect. Price spends more time near recent pivots than near arbitrary levels, which biases the comparison in favour of the zones. If zones still do not beat round numbers, that is informative; if they do, part of the margin is this bias.
- Overlapping zones are counted separately, so one bar can register entries into several zones.
- Only the most recent zones are kept. Older zones drop off and their history goes with them.
- The ratio depends on the window, the lookback, the width and the instrument. One chart is one sample.
- It describes where price traded. It does not predict where price will go, and nothing here is a signal.
This is an educational tool. It is not investment advice, and nothing in it is a recommendation to buy or sell anything. Trading involves substantial risk of loss.
If pivot zones get entered about as often as arbitrary round numbers, the zones are measuring price's general tendency to revisit places it has been - not anything special about pivots. This tool lets you check that on your own charts instead of taking anyone's word for it.
WHAT IT DRAWS
- Zones around the most recent confirmed pivot highs and lows. A pivot is only confirmed after the lookback has passed, so no zone uses information that did not exist when it was drawn.
- A readout table: the lookback and zone width in use, how many times price entered the zones, the entry rate per 100 bars, the same rate for round-number levels, the ratio between the two, and the window it was measured over.
WHAT COUNTS AS AN ENTRY
A bar that overlaps a zone when the bar before it did not. Sitting inside a zone for ten bars is one entry, not ten. Counting starts at the pivot's confirmation bar, and a zone that price is already inside at confirmation only counts once price has left and come back.
THE CONTROL
Round-number levels at an automatic step (about four ATRs, rounded to 1, 2 or 5 times a power of ten), or a step you choose. Same width rule as the zones, same window, and only the levels inside the band the zones occupy. Both rates are expressed per level per 100 bars, so they are directly comparable.
THE TWO FREE PARAMETERS, KEPT VISIBLE
Pivot lookback decides which swings become zones. Zone width decides how often anything gets entered - wider zones are entered more often purely because they are bigger. Both are shown in the table, and the width rule is applied identically to the control so the comparison stays fair.
ALERTS
Conditions you can arm yourself: price entered a zone drawn from a pivot high, or price entered a zone drawn from a pivot low. Nothing is sent unless you set it up.
WHERE IT FAILS
- An entry is not a reaction. The count says price came back to a zone, not that it turned there.
- The control is imperfect. Price spends more time near recent pivots than near arbitrary levels, which biases the comparison in favour of the zones. If zones still do not beat round numbers, that is informative; if they do, part of the margin is this bias.
- Overlapping zones are counted separately, so one bar can register entries into several zones.
- Only the most recent zones are kept. Older zones drop off and their history goes with them.
- The ratio depends on the window, the lookback, the width and the instrument. One chart is one sample.
- It describes where price traded. It does not predict where price will go, and nothing here is a signal.
This is an educational tool. It is not investment advice, and nothing in it is a recommendation to buy or sell anything. Trading involves substantial risk of loss.
Free Pine Script teardowns, a repaint checker and honest tools: taughttotrade.com (educational only, not financial advice)
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.
Free Pine Script teardowns, a repaint checker and honest tools: taughttotrade.com (educational only, not financial advice)
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.