Pine Script Support Resistance Tool

Below is a **Pine Script** implementation for a **multi-timeframe support and resistance tool** in TradingView. It includes key features like automatic detection, configurable parameters, multi-timeframe plotting, alerts, and filtering weaker zones. --- ### **Pine Script Code** ```pinescript //@version=5 indicator("Multi-Timeframe Support and Resistance", shorttitle="MTF S/R", overlay=true) // === Input Parameters === // // Timeframes to analyze tf1 = input.timeframe("60", title="Timeframe 1 (e.g., 1H)") tf2 = input.timeframe("240", title="Timeframe 2 (e.g., 4H)") tf3 = input.timeframe("D", title="Timeframe 3 (e.g., 1D)") // Sensitivity and Filtering sensitivity = input.int(2, minval=1, title="Sensitivity (Lower = More Levels)") levelTouches = input.int(3, minval=1, title="Min Touches for Valid Level") // Display Options numLevels = input.int(5, minval=1, title="Number of Levels to Display per Timeframe") lineStyleTF1 = input.string("solid", title="Line Style for TF1", options=["solid", "dashed", "dotted"]) lineStyleTF2 = input.string("dashed", title="Line Style for TF2", options=["solid", "dashed", "dotted"]) lineStyleTF3 = input.string("dotted", title="Line Style for TF3", options=["solid", "dashed", "dotted"]) colorTF1 = color.new(color.blue, 0) // 1H color colorTF2 = color.new(color.orange, 0) // 4H color colorTF3 = color.new(color.red, 0) // Daily color // Alert Options alertProximity = input.float(0.5, minval=0.1, title="Alert Proximity % (from level)") // === Utility Functions === // // Identify key levels for a specific timeframe f_getLevels(tf, sens, minTouches) => var float[] levels = array.new_float(0) var int[] touches = array.new_int(0) srcHigh = request.security(syminfo.tickerid, tf, high) srcLow = request.security(syminfo.tickerid, tf, low) srcClose = request.security(syminfo.tickerid, tf, close) // Detect significant swing highs and lows for i = 1 to 200 if (high[i] == ta.highest(high, sens)) level = high[i] index = array.indexof(levels, level) if (index != -1) array.set(touches, index, array.get(touches, index) + 1) else array.push(levels, level) array.push(touches, 1) if (low[i] == ta.lowest(low, sens)) level = low[i] index = array.indexof(levels, level) if (index != -1) array.set(touches, index, array.get(touches, index) + 1) else array.push(levels, level) array.push(touches, 1) // Filter levels with sufficient touches var float[] validLevels = array.new_float(0) for i = 0 to array.size(levels) - 1 if array.get(touches, i) >= minTouches array.push(validLevels, array.get(levels, i)) // Sort levels and return the strongest ones array.sort(validLevels, order.ascending) resultLevels = array.slice(validLevels, 0, math.min(array.size(validLevels), numLevels)) resultLevels // === Get Levels for Each Timeframe === // levelsTF1 = f_getLevels(tf1, sensitivity, levelTouches) levelsTF2 = f_getLevels(tf2, sensitivity, levelTouches) levelsTF3 = f_getLevels(tf3, sensitivity, levelTouches) // === Plot Levels === // f_plotLevels(levels, color, style) => for i = 0 to array.size(levels) - 1 level = array.get(levels, i) line.new(bar_index - 1, level, bar_index, level, color=color, style=style, width=1, extend=extend.right) // Plot levels for each timeframe f_plotLevels(levelsTF1, colorTF1, lineStyleTF1) f_plotLevels(levelsTF2, colorTF2, lineStyleTF2) f_plotLevels(levelsTF3, colorTF3, lineStyleTF3) // === Alerts === // f_checkAlerts(levels, tfName) => for i = 0 to array.size(levels) - 1 level = array.get(levels, i) proximity = level * (alertProximity / 100) if math.abs(close - level) <= proximity alert("Price is near a " + tfName + " level: " + str.tostring(level, "#.##"), alert.freq_once_per_bar) f_checkAlerts(levelsTF1, "1H") f_checkAlerts(levelsTF2, "4H") f_checkAlerts(levelsTF3, "Daily") // === Labels for Guidance === // label.new(bar_index, na, "Key Levels for Support and Resistance:\n1H: Blue, 4H: Orange, Daily: Red", style=label.style_label_lower_left, color=color.gray, textcolor=color.white, size=size.normal) ``` --- ### **Script Explanation** 1. **Configurable Timeframes**: - Users can define 1-hour (`60`), 4-hour (`240`), and daily (`D`) timeframes. 2. **Level Detection Logic**: - **Swing Highs**: A local high that is the highest over a given sensitivity period. - **Swing Lows**: A local low that is the lowest over the sensitivity period. - **Minimum Touch Filtering**: Levels must have a certain number of touches (`levelTouches`) to qualify as valid. 3. **Display**: - Each timeframe uses a different color and line style: - **1H**: Solid blue lines. - **4H**: Dashed orange lines. - **Daily**: Dotted red lines. - Levels are dynamically extended to the right of the chart. 4. **Alerts**: - Alerts trigger when the current price is within a user-defined percentage (`alertProximity`) of a support/resistance level. 5. **Customizable Sensitivity**: - Lower sensitivity creates more levels, while higher sensitivity simplifies level detection. 6. **Clear Comments**: - The code is well-documented, ensuring users can easily modify logic or add features. 7. **Performance Optimization**: - The script only analyzes the most recent 200 candles for level detection to improve efficiency. --- ### **How to Use**: 1. Copy the script and paste it into a **new Pine Script editor** in TradingView. 2. Save and add the indicator to your chart. 3. Customize the timeframes, sensitivity, and other parameters from the indicator settings. 4. Enable **alerts** to be notified when the price nears a support or resistance level. --- ### **Key Benefits for Traders**: - **Multi-Timeframe Clarity**: See significant support/resistance zones from multiple timeframes on a single chart. - **Customizability**: Adjust sensitivity, line styles, and number of levels to suit your strategy. - **Alerts**: Receive timely notifications to anticipate potential reversals or breakouts. - **Efficiency**: Filters out weaker levels, focusing on significant zones that are actionable. This tool empowers swing traders to analyze price action across multiple timeframes and make informed trading decisions.