Support/Resistance x3

The Support/Resistance x3 indicator identifies and displays support and resistance levels across three different timeframes simultaneously, utilizing volume-confirmed fractal points to highlight significant market structures.

Usage

The Support/Resistance x3 tool is designed to help traders visualize multi-timeframe market structure on a single chart. By plotting levels from the current chart period alongside two higher custom timeframes, users can identify "confluence zones" where multiple levels overlap, often indicating stronger areas of price reaction.

The script identifies fractal peaks and troughs that are accompanied by a volume spike (relative to a Simple Moving Average of volume). These levels appear as circles on the chart. Traders typically use these levels as:

• Target Areas: Identifying potential exit points for existing trades.
• Entry Zones: Looking for price action reversals or breakouts at these volume-confirmed levels.
• Trend Context: Understanding where higher timeframe barriers exist while trading on lower timeframes.

Details

The indicator calculates support and resistance based on a specific fractal pattern: a 5-bar sequence where the middle bar is the highest or lowest, further filtered by volume. A level is only plotted if the volume at the fractal peak/trough is greater than the Simple Moving Average (SMA) of volume for that timeframe.

This volume requirement ensures that only significant price turns—those backed by market participation—are considered. The higher timeframe levels are fetched using the request.security function, providing a top-down perspective without needing to switch tabs.

Settings

• Show Current Support / Resistance: Toggles the visibility of levels calculated from the chart's current timeframe.
• Current - Volume MA: Sets the length of the SMA used to filter volume for current timeframe fractals.
• Show Custom 1/2 Support / Resistance: Toggles the visibility of the first and second custom timeframe levels.
• Custom 1/2 - Timeframe: Allows the user to select the specific timeframe (e.g., 4H, 1D) for the additional levels.
• Custom 1/2 - Volume MA: Sets the length of the SMA used to filter volume for the respective custom timeframe fractals.
• Invert Colors: Swaps the default colors for support and resistance to match different chart themes or preferences.

FAQ

How do I interpret the circles on the chart? The circles represent the most recent volume-confirmed fractal levels. Brighter circles typically represent the current timeframe, while slightly more transparent circles represent the chosen higher timeframes.

Can I set alerts for these levels? Yes, the script includes built-in alert conditions that trigger when the price crosses above a resistance level or below a support level on any of the three tracked timeframes.

How can I access Support/Resistance x3? You can get access on the LuxAlgo Library for charting platforms like TradingView, MetaTrader (MT4/MT5), and NinjaTrader for free.