synapticEx

Fractal Support Resistance

Auto SR based on fractals and volume .

http://synapticex.com
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?
//@version=2
//synapticex.com
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>vam
down = low[3]<low[4] and low[4]<low[5] and low[2]>low[3] and low[1]>low[2] and volume>vam
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)

Kommentarer

Hey guys, can someone explain me how it works?
Svara
@DanielJeney, On the high side, a fractal is a high point, where the 2 candles before and the 2 candles after, are lower than that high. On the low side, a fractal is a low point, where the 2 candles before and the 2 candles after, are higher than that low.
Svara
v good imp
Svara
Hey @synapticEx great indi, been using it for a while now! Can I ask, is it possible to make an update to the indicator so that it does not affect the scaling of the chart? For example, if the indi is set up 4 hour timeframe S/R's.. and you're on say a <30m timeframe - the chart will squish up to fit the 4hour Resistance, for example. Hope this makes sense! Thanking you in advance
Svara
Thank you! What would be your settings for 5 min time frame? And does it matter the colour? The green sits on top..
Svara
cristian.d cristian.d
I mean for the VolumeMA cause I see you got the TF
Svara
synapticEx cristian.d
Thanks, the volume now should be fine. The green stand for a local maximum that has led to significant trading activity, the red is local minimum instead.
You can apply the script multiple times with a different time frame and change the colors based on your trading aims.
+4 Svara
Nice addition to the library!!!
Svara
synapticEx cooney_s
Thanks!
Svara
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