SuperTrend Support & Resistance

The SuperTrend Support & Resistance indicator provides an automated framework for identifying and labeling key price structures across multiple timeframes based on momentum shifts. By integrating SuperTrend logic with dynamic support and resistance detection, the tool allows traders to visualize market structure severity and trend shifts directly on their primary chart.

Usage

The indicator can be used to categorize the strength of price levels based on their timeframe of origin. Higher timeframe levels are represented with distinct colors and sizes to signify greater severity.

• Trend Identification: Use the "Trend or Basic" toggle to color-code support and resistance based on market structure (HH, HL, LH, LL) or simple high/low identification.
• Multi-Timeframe Analysis: Monitor up to three different timeframes simultaneously to create a cohesive narrative of market behavior without switching charts.
• Dynamic S&R: When the SuperTrend signals a bullish shift (price closes above), a support level is established at the lowest point of the preceding bearish condition. Conversely, a resistance level is set at the highest point of a previous bullish condition when a bearish shift occurs.
• Breakout & Target Planning: Use the severity of levels to identify potential breakout zones or logical areas for profit-taking and stop-loss placement.

Details

The script utilizes the SuperTrend formula (Factor and ATR-based) to define momentum. A shift in momentum—defined by a price close crossing the SuperTrend line—triggers the calculation of a new supply or demand level.

To ensure calculation accuracy, the script includes a [BAR_INDEX] buffer. This prevents errors with dynamic lookback lengths by ensuring enough historical data is available before the script begins plotting levels. Lower timeframes generally require a larger buffer (e.g., 5000 bars for a 30-second chart).

Settings

Smart Momentum

• Factor: Adjusts the multiplier for the SuperTrend calculation. Higher values decrease signal frequency.
• ATR Period: Sets the lookback for the Average True Range.
• [BAR_INDEX]: The number of bars the script waits before starting calculations to ensure data stability.
• [High & Low] / [Close]: Determines if levels are calculated using candle wicks or bodies.

Display Inputs (Per Timeframe)

• Trend or Basic: Toggles between structure-based coloring (Trend) and simple high/low coloring (Basic).
• Colors & Styles: Customize line length, width, style, and label size for each timeframe to visually differentiate "severity."

Higher Time Frame [S & R]

• Amount of Time Frames: Select how many HTF displays to show (up to 3).
• TimeFrame #1-3: Defines the specific timeframes used for scanning momentum shifts.

Trend Chart

• Chart [On/Off]: Toggles an on-screen dashboard showing the current trend across selected timeframes.
• Position & Size: Customizes the location and scale of the trend dashboard.

FAQ

How do I access SuperTrend Support & Resistance?

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

Why are levels not appearing on the monthly timeframe?

The current chart's timeframe must be lower than one month to ensure the correct calculation and plotting of HTF supply and demand levels.

How do I reduce the number of levels on my chart?

You can increase the Factor and ATR Length in the Smart Momentum settings to decrease signal frequency, or reduce the Amount of Time Frames displayed.