OPEN-SOURCE SCRIPT
Cody Support and Resistance
Cody Support & Resistance - Automatic S/R levels based on Bill Williams Fractals. Identifies key support/resistance zones with breakout alerts.
Description (Full)
📊 Overview
This indicator automatically plots Support and Resistance levels using Bill Williams Fractal logic. It helps traders identify key price zones where reversals or breakouts are likely to occur.
🔑 Key Features
Automatic S/R Levels - Fractal-based support (green) and resistance (red) levels
Visual Fractals - Blue circles for down fractals, orange circles for up fractals
Breakout Alerts - Get notified when price breaks above resistance or below support
Customizable Periods - Adjust the fractal sensitivity with the "Periods" input (default: 2)
🎯 How It Works
Resistance (Red Line) - Forms when price makes a lower high on both sides (down fractal)
Support (Green Line) - Forms when price makes a higher low on both sides (up fractal)
Breakout Buy Alert - Triggers when price closes above resistance
Breakdown Sell Alert - Triggers when price closes below support
📈 How to Use
Add to your chart
Look for green (support) and red (resistance) horizontal levels
Price bouncing off support → potential long entry
Price rejecting resistance → potential short entry
Price breaking through → trend continuation signal
⚙️ Settings
Periods - Number of bars on each side of the fractal (higher = fewer, stronger levels)
📣 Alerts Available
Breakout Buy - Price broke resistance
Breakdown Sell - Price broke support
🙏 Credits
Original fractal logic: Matthew Spencer
Support/resistance adaptation: Kunal Patel
Compiled by: Cody
🔔 Tags (for TradingView publishing)
Support and Resistance Fractals Breakout Levels Swing Trading Price Action
Would you like me to adjust the tone (more technical, simpler, shorter) or add anything else?
Description (Full)
📊 Overview
This indicator automatically plots Support and Resistance levels using Bill Williams Fractal logic. It helps traders identify key price zones where reversals or breakouts are likely to occur.
🔑 Key Features
Automatic S/R Levels - Fractal-based support (green) and resistance (red) levels
Visual Fractals - Blue circles for down fractals, orange circles for up fractals
Breakout Alerts - Get notified when price breaks above resistance or below support
Customizable Periods - Adjust the fractal sensitivity with the "Periods" input (default: 2)
🎯 How It Works
Resistance (Red Line) - Forms when price makes a lower high on both sides (down fractal)
Support (Green Line) - Forms when price makes a higher low on both sides (up fractal)
Breakout Buy Alert - Triggers when price closes above resistance
Breakdown Sell Alert - Triggers when price closes below support
📈 How to Use
Add to your chart
Look for green (support) and red (resistance) horizontal levels
Price bouncing off support → potential long entry
Price rejecting resistance → potential short entry
Price breaking through → trend continuation signal
⚙️ Settings
Periods - Number of bars on each side of the fractal (higher = fewer, stronger levels)
📣 Alerts Available
Breakout Buy - Price broke resistance
Breakdown Sell - Price broke support
🙏 Credits
Original fractal logic: Matthew Spencer
Support/resistance adaptation: Kunal Patel
Compiled by: Cody
🔔 Tags (for TradingView publishing)
Support and Resistance Fractals Breakout Levels Swing Trading Price Action
Would you like me to adjust the tone (more technical, simpler, shorter) or add anything else?
Skrip sumber terbuka
Dalam semangat TradingView sebenar, pencipta skrip ini telah menjadikannya sumber terbuka, jadi pedagang boleh menilai dan mengesahkan kefungsiannya. Terima kasih kepada penulis! Walaupuan anda boleh menggunakan secara percuma, ingat bahawa penerbitan semula kod ini tertakluk kepada Peraturan Dalaman.
Penafian
Maklumat dan penerbitan adalah tidak bertujuan, dan tidak membentuk, nasihat atau cadangan kewangan, pelaburan, dagangan atau jenis lain yang diberikan atau disahkan oleh TradingView. Baca lebih dalam Terma Penggunaan.
Skrip sumber terbuka
Dalam semangat TradingView sebenar, pencipta skrip ini telah menjadikannya sumber terbuka, jadi pedagang boleh menilai dan mengesahkan kefungsiannya. Terima kasih kepada penulis! Walaupuan anda boleh menggunakan secara percuma, ingat bahawa penerbitan semula kod ini tertakluk kepada Peraturan Dalaman.
Penafian
Maklumat dan penerbitan adalah tidak bertujuan, dan tidak membentuk, nasihat atau cadangan kewangan, pelaburan, dagangan atau jenis lain yang diberikan atau disahkan oleh TradingView. Baca lebih dalam Terma Penggunaan.