I have a chart and like the support resistance plots Ive changed the titled vixenator window to reflect risk/index seems it was written for forex trading but I dont see a reason to not use the pivots on everything. This pivot study was modified:
# Original codes created by Richard Houser and WillGrimmer # 11-16-12 and 1/22/13 respectively # I have modified them by joining the ideas together to give better S/R levels from Richard and dual aggregation from Will. # Shows support/resistance lines within some number of periods on two aggregations that you can select. You can also adjust the days to suit your style. # Keep in mind too few days and you'll get a bunch of false s/r lines, too many days and you'll miss some number of s/r days. (RH) # I found five days to be a good floor to start, in other words adjust upwards, but not less than five. (RH) # Also note that because the script uses the markPeriod to look backwards and to look forward, # the s/r lines will not adjust unless there's at least markPeriod number of bars to the right and left. (RH) # The joining the two allows you to trade on a shorter time frame chart and see the breaks of longer time frame S/R. # Longer time frame S/R are often considered more powerful. Hope you guys find this helpful.