Support/Resistance Zones for ThinkorSwim

[Bob007]

Support/Resistance or Supply/Demand whichever you prefer. Based on pivots and ATR. Change the n to get zones for the time you wish.

Update: ATR is now straight lines and user can input ATR multiple.
New share: https://tos.mx/Lv0FsZi

https://tos.mx/VeGhwv

# Support/Resistance Zones around pivot S/R points.
#Added the zones using ATR to the Theotrade Pivots study.
#Additions by Horserider 9/30/2019

input length = 252;
input averageType = AverageType.WILDERS;

def ATR = MovingAverage(averageType, TrueRange(high, close, low), length);

# User Inputs
input n = 21; #hint n: periods used for pivot calculations.
def Num_Dev_Dn = ATR;
def Num_Dev_up = -ATR;


# Internal Script Reference
script LinePlot {
    input BarID = 0;
    input Value = 0;
    input BarOrigin = 0;
    def ThisBar = HighestAll(BarOrigin);
    def ValueLine = if BarOrigin == ThisBar
                then Value
                else Double.NaN;
    plot P = if ThisBar - BarID <= BarOrigin
             then HighestAll(ValueLine)
             else Double.NaN;
}
# Variables
def o = open;
def h = high;
def l = low;
def c = close;
def bar = BarNumber();
def BBar = bar == HighestAll(bar);
# Parent High
def ParentHigh = HighestAll(h);
def ParentHBarOrigin = if h == ParentHigh
                       then bar
                       else ParentHBarOrigin[1];
def ParentHBarID = bar - HighestAll(ParentHBarOrigin);
# R1
def hh = fold i = 1 to n + 1
         with p = 1
         while p
         do h > GetValue(h, -i);
def PivotH = if (bar > n and
                 h == Highest(h, n) and
                 hh)
            then h
            else Double.NaN;
def PHValue = if !IsNaN(PivotH)
              then PivotH
              else PHValue[1];
def PHBarOrigin = if !IsNaN(PivotH)
                  then bar
                  else PHBarOrigin[1];
def PHBarID = bar - PHBarOrigin;
# R2
def R2PHValue = if PHBarOrigin != PHBarOrigin[1]
              then PHValue[1]
              else R2PHValue[1];
def R2PHBarOrigin = if PHBarOrigin != PHBarOrigin[1]
                  then PHBarOrigin[1]
                  else R2PHBarOrigin[1];
def R2PHBarID = bar - R2PHBarOrigin;
# R3
def R3PHValue = if R2PHBarOrigin != R2PHBarOrigin[1]
              then R2PHValue[1]
              else R3PHValue[1];
def R3PHBarOrigin = if R2PHBarOrigin != R2PHBarOrigin[1]
                  then R2PHBarOrigin[1]
                  else R3PHBarOrigin[1];
def R3PHBarID = bar - R3PHBarOrigin;
# R4
def R4PHValue = if R3PHBarOrigin != R3PHBarOrigin[1]
              then R3PHValue[1]
              else R4PHValue[1];
def R4PHBarOrigin = if R3PHBarOrigin != R3PHBarOrigin[1]
                  then R3PHBarOrigin[1]
                  else R4PHBarOrigin[1];
def R4PHBarID = bar - R4PHBarOrigin;

# Parent Low
def ParentLow = LowestAll(l);
def ParentLBarOrigin = if l == ParentLow
                       then bar
                       else ParentLBarOrigin[1];
def ParentLBarID = bar - HighestAll(ParentLBarOrigin);
# S1
def ll = fold j = 1 to n + 1
         with q = 1
         while q
         do l < GetValue(l, -j);
def PivotL = if (bar > n and
                 l == Lowest(l, n) and
                 ll)
             then l
             else Double.NaN;
def PLValue = if !IsNaN(PivotL)
              then PivotL
              else PLValue[1];
def PLBarOrigin = if !IsNaN(PivotL)
                  then bar
                  else PLBarOrigin[1];
def PLBarID = bar - PLBarOrigin;
# S2
def S2PLValue = if PLBarOrigin != PLBarOrigin[1]
              then PLValue[1]
              else S2PLValue[1];
def S2PLBarOrigin = if PLBarOrigin != PLBarOrigin[1]
                  then PLBarOrigin[1]
                  else S2PLBarOrigin[1];
def S2PLBarID = bar - S2PLBarOrigin;
# S3
def S3PLValue = if S2PLBarOrigin != S2PLBarOrigin[1]
              then S2PLValue[1]
              else S3PLValue[1];
def S3PLBarOrigin = if S2PLBarOrigin != S2PLBarOrigin[1]
                  then S2PLBarOrigin[1]
                  else S3PLBarOrigin[1];
def S3PLBarID = bar - S3PLBarOrigin;
# S4
def S4PLValue = if S3PLBarOrigin != S3PLBarOrigin[1]
              then S3PLValue[1]
              else S4PLValue[1];
def S4PLBarOrigin = if S3PLBarOrigin != S3PLBarOrigin[1]
                  then S3PLBarOrigin[1]
                  else S4PLBarOrigin[1];
def S4PLBarID = bar - S4PLBarOrigin;

# Plots
plot PR1 = LinePlot(BarID = ParentHBarID,
                    Value = ParentHigh,
                    BarOrigin = HighestAll(ParentHBarOrigin));
PR1.SetDefaultColor(Color.GREEN);
#addChartBubble(Bar == HighestAll(ParentHBarOrigin), ParentHigh, "High", color.yellow, 1);
plot R1 = LinePlot(BarID = PHBarID,
                   Value = PHValue,
                   BarOrigin = PHBarOrigin);
R1.SetDefaultColor(Color.GREEN);
#AddChartBubble(bar == HighestAll(PHBarOrigin), PHValue, "R1", Color.GREEN, 1);

plot LowerBandr1 = R1 + Num_Dev_Dn ;
plot UpperBandr1 = R1 + Num_Dev_up ;
AddCloud(UpperBandr1, R1, Color.GREEN, Color.RED );
AddCloud(LowerBandr1, R1, Color.GREEN, Color.RED );
lowerbandr1.hide();
upperbandr1.hide();


plot R2 = LinePlot(BarID = R2PHBarID,
                   Value = R2PHValue,
                   BarOrigin = R2PHBarOrigin);
R2.SetDefaultColor(Color.GREEN);
#AddChartBubble(bar == HighestAll(R2PHBarOrigin), PHValue, "R2", Color.GREEN, 1);

plot LowerBandr2 = R2 + Num_Dev_Dn ;
plot UpperBandr2 = R2 + Num_Dev_up ;
AddCloud(UpperBandr2, R2, Color.GREEN, Color.RED);
AddCloud(LowerBandr2, R2, Color.GREEN, Color.RED);
lowerbandr2.hide();
upperbandr2.hide();

plot R3 = LinePlot(BarID = R3PHBarID,
                   Value = R3PHValue,
                   BarOrigin = R3PHBarOrigin);
R3.SetDefaultColor(Color.GREEN);
#AddChartBubble(bar == HighestAll(R3PHBarOrigin), PHValue, "R3", Color.GREEN, 1);

plot LowerBandr3 = R3 + Num_Dev_Dn ;
plot UpperBandr3 = R3 + Num_Dev_up ;
AddCloud(UpperBandr3, R3, Color.LIGHT_GRAY, Color.LIGHT_ORANGE);
AddCloud(LowerBandr3, R3, Color.LIGHT_GRAY, Color.LIGHT_ORANGE);
lowerbandr3.hide();
upperbandr3.hide();

plot R4 = LinePlot(BarID = R4PHBarID,
                   Value = R4PHValue,
                   BarOrigin = R4PHBarOrigin);
R4.SetDefaultColor(Color.GREEN);
#AddChartBubble(bar == HighestAll(R4PHBarOrigin), PHValue, "R4", Color.GREEN, 1);

plot LowerBandr4 = R4 + Num_Dev_Dn ;
plot UpperBandr4 = R4 + Num_Dev_up ;
AddCloud(UpperBandr4, R4, Color.LIME, Color.PINK);
AddCloud(LowerBandr4, R4, Color.LIME, Color.PINK);
lowerbandr4.hide();
upperbandr4.hide();


plot PS1 = LinePlot(BarID = ParentLBarID,
                   Value = ParentLow,
                   BarOrigin = HighestAll(ParentLBarOrigin));
PS1.SetDefaultColor(Color.RED);
#AddChartBubble(bar == HighestAll(ParentLBarOrigin), ParentLow, "Low", Color.YELLOW, 0);
plot S1 = LinePlot(BarID = PLBarID,
                   Value = PLValue,
                   BarOrigin = PLBarOrigin);
S1.SetDefaultColor(Color.RED);
#AddChartBubble(bar == HighestAll(PLBarOrigin), PLValue, "S1", Color.RED, 0);

plot LowerBands1 = S1 + Num_Dev_Dn ;
plot UpperBands1 = S1 + Num_Dev_up ;
AddCloud(UpperBands1, S1, Color.GREEN, Color.RED);
AddCloud(LowerBands1, S1, Color.GREEN, Color.RED);
lowerbands1.hide();
upperbands1.hide();

plot S2 = LinePlot(BarID = S2PLBarID,
                   Value = S2PLValue,
                   BarOrigin = S2PLBarOrigin);
S2.SetDefaultColor(Color.RED);
#AddChartBubble(bar == HighestAll(S2PLBarOrigin), PLValue, "S2", Color.RED, 0);

plot LowerBands2 = S2 + Num_Dev_Dn ;
plot UpperBands2 = S2 + Num_Dev_up ;
AddCloud(UpperBands2, S2, Color.GREEN, Color.RED);
AddCloud(LowerBands2, S2, Color.GREEN, Color.RED);
lowerbands2.hide();
upperbands2.hide();

plot S3 = LinePlot(BarID = S3PLBarID,
                   Value = S3PLValue,
                   BarOrigin = S3PLBarOrigin);
S3.SetDefaultColor(Color.RED);
#AddChartBubble(bar == HighestAll(S3PLBarOrigin), PLValue, "S3", Color.RED, 0);

plot LowerBands3 = S3 + Num_Dev_Dn ;
plot UpperBands3 = S3 + Num_Dev_up ;
AddCloud(UpperBands3, S3, Color.LIGHT_GRAY, Color.LIGHT_ORANGE);
AddCloud(LowerBands3, S3, Color.LIGHT_GRAY, Color.LIGHT_ORANGE);
lowerbands3.hide();
upperbands3.hide();


plot S4 = LinePlot(BarID = S4PLBarID,
                   Value = S4PLValue,
                   BarOrigin = S4PLBarOrigin);
S4.SetDefaultColor(Color.RED);
#AddChartBubble(bar == HighestAll(S4PLBarOrigin), PLValue, "S4", Color.RED, 0);

plot LowerBands4 = S4 + Num_Dev_Dn ;
plot UpperBands4 = S4 + Num_Dev_up ;
AddCloud(UpperBands4, S4, Color.LIME, Color.PINK);
AddCloud(LowerBands4, S4, Color.LIME, Color.PINK);
lowerbands4.hide();
upperbands4.hide();

plot BearScan = if (close crosses below S1) or
                   (close crosses below S2)
                then close
                else Double.NaN;
plot BullScan = if (close crosses above R1) or
                   (close crosses above R2)
                then close
                else Double.NaN;
# End Code Fractal Array

Horserider, I just found this indicator and was hoping you could help me as I am pretty new at this. I put this on my chart and I cannot tell which is Supply/Demand and which is Support/Resistance. Is the Green/Red cloud Supply/Demand? Is there also a way to allow for Support/Resistance to be turned off and on? Thank you for your work and sharing this.

 

[MerryDay]

Horserider, I just found this indicator and was hoping you could help me as I am pretty new at this. I put this on my chart and I cannot tell which is Supply/Demand and which is Support/Resistance. Is the Green/Red cloud Supply/Demand? Is there also a way to allow for Support/Resistance to be turned off and on? Thank you for your work and sharing this.

No, there is no separate Supply/Demand and Support/Resistance.
@horserider was attempting to say that members use the terms:
Supply/Demand and Support/Resistance interchangeably and that he doesn't care what you call this indicator.

It is beyond the scope of this thread to provide all the information about how to use S&R indicators.
It is always recommended that you do some research and gain a thorough understanding of the concepts before implementing them on your charts.
1. Every strategy should take into account support/resistance.
2. If the price is below then the zone represents resistance
3. If the price is above then the zone represents support.
4. S&R indicators have minimal value on lower timeframes.

 

[jthoele]

@horserider is there a way to make this a MTF script? I use a 2m chart but would like to see the zones based off the 15m chart on the 2m chart. Can this be achieved?

 

[MerryDay]

@horserider is there a way to make this a MTF script? I use a 2m chart but would like to see the zones based off the 15m chart on the 2m chart. Can this be achieved?

Support & Resistance repaint on purpose. If an instrument breaks through the Support or Resistance, it is important to draw the new levels.

But because, it is a repainter, you don't want to make it a multi-time frame.
MTF repaint until the upper timeframe bar closes.
Making a repainter of a repainter. Is not a good idea.
There are no repainting repainters on the forum.

 

[majidg]

Horserider, I just found this indicator and was hoping you could help me as I am pretty new at this. I put this on my chart and I cannot tell which is Supply/Demand and which is Support/Resistance. Is the Green/Red cloud Supply/Demand? Is there also a way to allow for Support/Resistance to be turned off and on? Thank you for your work and sharing this.

Can someone write the code to scan for PR1 and PS1?

 

[MerryDay]

Can someone write the code to scan for PR1 and PS1?

anybody can help on scanning the support and resistance pivots?

This script is too complex for the scanner, watchlists, or conditional orders.