Unique live widget which provides information about support and resistance along with distance to immediate levels.
⬜ Custom Candle Source
Three options of candles available ▶ Regular OHLC candles ▶ Heikin-Ashi candles ( Taken leaf out of @Bjorgum's book - but, still could not do it as good as him :) ) ▶ Moving average candles
⬜ Multiple zigzags and choice of oscillator
Like any other zigzag based indicator, I prefer using 4 zigzag levels.
And select oscillator of your choice to identify divergence. Oscillator lengths are automatically calculated based on zigzag lengths. You can also chose external oscillator.
⬜ Support and resistance widget settings ▶ Max S/R per zigzag - this is the number of last S/R levels recorded for each zigzag ▶ Max S/R for stats - even though there can be many number of S/R levels, we cannot show all of them in the widget due to space constraint. Hence, this is set to minimal value of 3. Can be changed via this input. ▶ Max S/R for Alerts - When sending stats through alerts, users can decide how many immediate S/R levels to be sent in them. ▶ Alert Choices - Can chose to get alerts when new S/R levels formed and also when existing S/R levels broken.
Personally think it is a very handy widget to have!!
Thank you for this widget! Would it be possible for you to add the choice of showing (or not showing) the 3 resistances and support areas as boxes in the chart as well, maybe with added MTF also? I know you have a different DSR script that shows the graph, but maybe it’s possible for you to combine the two? I wish you many profitable trades