Fractal Support Resistance (Fixed Volume) 2

Fractal Support Resistance (Fixed Volume ) 2
Open-source script

In true TradingView spirit, the author of this script has published it open-source, so traders can understand and verify it. Cheers to the author! You may use it for free, but reuse of this code in a publication is governed by House Rules. You can favorite it to use it on a chart.

Want to use this script on a chart?
study("Fractal Support Resistance", shorttitle="FSR", overlay=true)
tf = input(title="Resolution", type=resolution, defval = "current")
vamp = input(title="VolumeMA", type=integer, defval=6)
vam = sma(volume, vamp)

up = high[3]>high[4] and high[4]>high[5] and high[2]<high[3] and high[1]<high[2] and volume[3]>vam[3]
down = low[3]<low[4] and low[4]<low[5] and low[2]>low[3] and low[1]>low[2] and volume[3]>vam[3]
fractalup =  up ? high[3] : fractalup[1] 
fractaldown = down ? low[3] : fractaldown[1]

fuptf = security(tickerid,tf == "current" ? period : tf, fractalup)
fdowntf = security(tickerid,tf == "current" ? period : tf, fractaldown)

plot(fuptf, "FractalUp", color=lime, linewidth=1, style=cross, transp=0, offset =-3, join=false)
plot(fdowntf, "FractalDown", color=red, linewidth=1, style=cross, transp=0, offset=-3, join=false)


Thankyou so much!! May i ask, what is the difference between Red line and Green Line?
+69 Svara
@tonyyunz, The red line is Demand, green line is Supply
+10 Svara
cubanamerican88 nguyenthimongtrinh
@nguyenthimongtrinh, thank you
+1 Svara
+11 Svara
how come this isnt showing up on my chart?How come it only work for certain pairs?
+1 Svara
lildean254 lildean254
@lildean254, nevermind i got it,i had to refresh the page.
+1 Svara
In these cases, the green and red lines show where people bought or sold in the wrong place and got stuck in operations. this talking about the futures market. Am I right? @synapticEx
Than you!
Does anyone have this indicator for metaTrader 4 ?
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