Support Resistance

The Support Resistance indicator identifies potential institutional entry zones by analyzing fund flow trends and generating visual support levels based on banker entry signals.

Usage

The tool can be used to identify key market turning points and institutional interest areas.

• Trend Identification: Users can monitor the relationship between the Fund Flow Trend and the Bull Bear Line to determine market momentum.
• Banker Entry Signals: Specific signals are generated when the fund flow crosses above the Bull Bear Line while the line is below a threshold of 25, suggesting a potential bottom or entry phase.
• Dynamic Support Zones: The indicator automatically draws dashed lines at the last five entry signal prices. A dynamic rectangle is formed between the two most recent entry levels; if the price closes above this zone, the box turns green, indicating a confirmed support area. If the price remains below, it stays red.

Details

This script is inspired by the Banker Fund Flow Trend Oscillator concept. It utilizes a combination of smoothed oscillators and moving averages to track institutional activity.

• Fund Flow Trend: Calculated using weighted moving averages of a normalized price oscillator (based on a 27-period lookback).
• Bull Bear Line: An EMA of the typical price relative to its high-low range over 34 periods, acting as a baseline for trend strength.
• Visual Logic: The script maintains an array of the five most recent signal prices and indices to project historical levels onto the current price action.

Settings

• Oscillator Periods: Internal calculations use a 27-period lookback for the price oscillator.
• MA Lengths: The indicator uses a 5-period and 3-period smoothing for the fund flow, and a 13-period EMA for the Bull Bear Line.
• Lookback Range: A 34-period range is used to determine the relative position of the typical price for trend baseline calculations.

FAQ

How do I access Support Resistance?

You can get access on the LuxAlgo Library for charting platforms like TradingView, MetaTrader (MT4/MT5), and NinjaTrader for free.

What does the green box represent?

The green box represents a potential support zone where price has successfully traded above the most recent institutional entry levels.

When is a banker entry signal triggered?

A signal is triggered when the Fund Flow Trend crosses above the Bull Bear Line while the Bull Bear Line is in a "low" zone (below 25), indicating an oversold condition being met with positive momentum.