Sloped Support & Resistance (No REPAINT)

The Sloped Support & Resistance indicator identifies key pivot points and projects dynamic trendlines based on average historical price movement to provide evolving price targets and zones.

Usage

The Sloped Support & Resistance indicator can be used to identify potential breakout points, trend exhaustion zones, or trailing support and resistance levels that adapt to the market's trajectory. Unlike static horizontal levels, these lines account for the slope of recent price action.

• Bullish Scenarios: Look for ascending sloped lines as dynamic support levels during uptrends.
• Bearish Scenarios: Monitor descending sloped lines as dynamic resistance levels during downtrends.
• Breakouts: Price breaking through a sloped resistance or support line can signal a potential shift in market momentum.
• Inverse Slopes: When enabled, the indicator also projects the average "opposite" slope from a pivot (e.g., a bullish slope projected from a resistance pivot), helping to visualize potential channel boundaries.

Details

The script operates using a non-repainting methodology. Once a Pivot High or Pivot Low is confirmed (after the "Right Bars" lookback period), the slope is calculated and the line is projected. These lines are never recalculated or moved once placed.

The "Calculation Window" determines how many previous slopes are averaged to create the projection. This smoothing process ensures that the resulting lines represent the broader trend rather than single outlier movements. An optional ATR filter is available to filter out minor price fluctuations, ensuring only significant pivots generate support and resistance levels.

Settings

Logic

• Left Bars: The number of bars to the left of a candle required to identify a pivot.
• Right Bars: The number of bars to the right of a candle required to confirm a pivot (defines the lag).
• Calculation Window: The number of previous segments used to calculate the average slope.

ATR Filter

• Use ATR Filter: Enables a volatility-based filter for pivot detection.
• ATR Length: The period used for the ATR calculation.
• ATR Multiplier: The minimum distance (relative to ATR) a pivot must be from the surrounding price action to be valid.

Display & Style

• Max History: The maximum number of historical support/resistance levels to keep on the chart.
• Projection Length: The number of bars into the future the lines extend.
• Show Price Labels: Toggles the display of price levels at the pivot points.
• Show Inverse Slopes: Displays both bullish and bearish average slopes from every identified pivot.
• Color/Transparency: Customization options for the main lines, glow effects, and dimmed historical levels.

FAQ

How do I access Sloped Support & Resistance?

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

Does this indicator repaint?

No, the lines are projected once a pivot is confirmed and do not change their position or slope after the confirmation bar has closed.

Why are the lines shorter or longer on my chart?

You can adjust the "Projection Length" in the settings to control how far into the future the sloped lines are drawn.