๐งฑSupport and Resistance
The Support & Resistance indicator automatically identifies key price levels where buying pressure (support) and selling pressure (resistance) are most likely to occur. These levels are drawn directly on your chart, giving you a clear visual map of where price may bounce, reverse, or break through.
Support and resistance levels are foundational to technical analysis. This tool eliminates the guesswork of manually drawing levels, saving you time and helping you make more confident trading decisions.
What Are Support & Resistance Levels?
Support is a price level where buying interest is strong enough to prevent price from falling further. Think of it as a "floor" beneath price.
Resistance is a price level where selling pressure is strong enough to prevent price from rising further. Think of it as a "ceiling" above price.
When price is above a level, it acts as support (displayed in your chosen support color โ cyan/blue by default). When price is below a level, it acts as resistance (displayed in your chosen resistance color โ pink/red by default).
These colors update dynamically as price moves, so you always know whether a level is currently acting as support or resistance.
Adding the Indicator to Your Chart
Open your chart on TradingView.
Click the Indicators button (or press
/on your keyboard).Search for "Support and Resistance" in your invite-only scripts or indicator library.
Click the indicator name to add it to your chart.
The indicator will overlay directly on your price chart with default settings.
Settings Breakdown
To access settings, click the gear icon (โ๏ธ) next to the indicator name on your chart, or double-click the indicator.
Support & Resistance Settings
SR On/Off
Master toggle โ enables or disables all support and resistance lines on the chart.
On
Support Color
Color used for levels acting as support (price is above the level).
Cyan (#00DBFF)
Resistance Color
Color used for levels acting as resistance (price is below the level).
Pink (#E91E63)
Show Price Labels
Displays the exact price value at each SR level, positioned to the right of the chart.
On
Show Zones
Draws shaded zones around each SR level, representing an area of influence rather than a single line.
On
High Low Zones On/Off
Draws shaded zones around the highest and lowest detected levels specifically.
On
Style
Line style for SR lines โ Solid, Dotted, or Dashed.
Dotted
Width
Thickness of the SR lines (1โ4).
2
Strength
Controls how many times price must have reacted at a level for it to qualify as significant. Higher values = fewer but stronger levels. Lower values = more levels shown.
2
Expand Lines
Direction to extend SR lines โ Right, Left, or Both.
Right
Zone Settings
Zone Width
Controls the thickness of the shaded zone around each SR level. Higher values create wider zones. The width is calculated as a percentage of the price range, so it adapts to the asset you're viewing.
2
Zone Transparency
Controls how transparent the zone shading is. 0 = fully opaque, 100 = fully transparent.
80
Advanced Settings
Period
The number of bars used to detect pivot highs and pivot lows. Larger values detect more significant turning points but may lag. Smaller values are more responsive.
10
Lookback Period
How far back (in bars) the indicator analyzes to find SR levels. Larger values consider more historical data.
284
Channel Width
Controls the tolerance for grouping nearby pivots into a single SR level. Higher values merge levels that are close together.
10
Label Position
How far to the right of the current bar the price labels are placed.
55
Pivot Zones
Display Pivots?
Toggles the display of individual pivot zone lines on the chart.
On
Pivot Line Color
Two color pickers โ the first sets the color for pivot levels below price, and the second for pivot levels above price.
Blue / Red
Show Pivot Price Labels
Displays the exact price at each detected pivot point.
On
Pivot Label Color
Background color of the pivot price labels.
Dark Blue
Understanding the Chart Display
Once the indicator is active on your chart, you'll see several visual elements:
SR Level Lines
Horizontal lines drawn at each detected support or resistance level. Lines change color dynamically based on whether price is currently above (support) or below (resistance) the level.
Zones
Shaded areas surrounding each SR line. These zones represent a range rather than an exact price, which is often more realistic โ price doesn't always bounce at an exact number but rather within a zone.
High & Low Level Labels
Two specially labeled levels marked "High Level" and "Low Level" represent the highest resistance and lowest support detected within the lookback window. These are the outer boundaries of the current price structure.
Pivot Zone Lines
Shorter horizontal lines that mark individual pivot highs and lows. These are color-coded to show whether the pivot level is above or below the current price. Unlike the SR lines which consolidate multiple pivot reactions, pivot zones show each individual detected turning point.
Last updated