The script uses high/low/higher high/lower low for Support and Resistance identification but takes into account only pivots with wick making low/high opposite to candle body. Such candles point to hard market swings into during candle timeframe.
Price usually come bake to such levels and make double top/bottom, divergences on different osc or starts a new trend if this level is broken.
If Support lvl and Resistance lvl meets the movement of price in the direction from this combined lvl is much accelerated.
examples
Price usually come bake to such levels and make double top/bottom, divergences on different osc or starts a new trend if this level is broken.
examples
Versionsinformation:
added bar colors for better trend visualization - close over support and resistance = green, above = red