Jigga - Support Resistance Lines
Hello Investors !!
This study will help many friends who are new to market and facing issue while drawing support and resistance trend line .
I have used inbuilt function PivotHigh and PivotLow to find high and low points for a stock. These points are used then to find support and resistance.
Resistance = Lower Pivot High
Support = Higher Pivot Low
Additionally,
1) plotted exponential moving average which you can change based on your requirement.
2) * will show volume spike => volume > highest volume of given period
How to use this study:
1) short term investor: can buy when price is around support line and sell around resistance line.
2) long term investor: can buy near support or breakout of resistance and sell based on swing high low.
Please note: Lines will be drawn only if change in pivot points . You may not see lines for bigger trend unless there is change.
Note: My previous indicator was removed by Trading view due to unintentional House rules violation. I do respect their decision.
This study will help many friends who are new to market and facing issue while drawing support and resistance trend line .
I have used inbuilt function PivotHigh and PivotLow to find high and low points for a stock. These points are used then to find support and resistance.
Resistance = Lower Pivot High
Support = Higher Pivot Low
Additionally,
1) plotted exponential moving average which you can change based on your requirement.
2) * will show volume spike => volume > highest volume of given period
How to use this study:
1) short term investor: can buy when price is around support line and sell around resistance line.
2) long term investor: can buy near support or breakout of resistance and sell based on swing high low.
Please note: Lines will be drawn only if change in pivot points . You may not see lines for bigger trend unless there is change.
Note: My previous indicator was removed by Trading view due to unintentional House rules violation. I do respect their decision.
Versionsinformation:
New version update
1) Added bar colour calculation
Bar colour will be changed only if High or low is changed compared to 3 days high and low. You can remove bar colour calculation from setting option.
2) Added EMA band
EMA Band = FILL(EMA,EMA of PIVOT_Support)
1) Added bar colour calculation
Bar colour will be changed only if High or low is changed compared to 3 days high and low. You can remove bar colour calculation from setting option.
2) Added EMA band
EMA Band = FILL(EMA,EMA of PIVOT_Support)
Versionsinformation:
Updated to @version=5
Versionsinformation:
Added new feature
1) Vertical lines to show range where stock shows strength against Nifty index
Removed feature
2) removed moving average cloud and volume spike
1) Vertical lines to show range where stock shows strength against Nifty index
Removed feature
2) removed moving average cloud and volume spike
Versionsinformation:
Added Price level at time of earnings.
Inspired from Earnings S/R Levels
Inspired from Earnings S/R Levels
Versionsinformation:
Note: Hide earning lines and displayed on circle.
Versionsinformation:
Changed code completely !