support and resistance on multi timeframe with trends

The support and resistance on multi timeframe indicator is a comprehensive charting tool designed to identify and display key horizontal levels and trend lines across two user-selected timeframes simultaneously. By combining current timeframe data with higher timeframe (HTF) perspectives, it allows traders to monitor price structure and trend direction more effectively for entry and exit signals.

Usage

The indicator provides a dual-layered approach to market structure. Horizontal support and resistance levels are automatically calculated based on pivot points; levels from the current timeframe are displayed with thin lines, while levels from a selected higher timeframe are rendered with thicker lines to highlight their increased significance.

Trend identification is handled by two distinct types of trend lines:

• Trend 1 (Long-Term): Solid lines representing significant multi-pivot structural trends.
• Trend 2 (Short-Term): Dashed lines representing more immediate, localized price movements.

A built-in logic ensures that if multiple levels are too close together, the script prioritizes the "deeper" or more significant pivot to keep the chart clean. Traders often use bounces off these levels or breaks of the trend lines as primary triggers for trade execution.

Details

The script utilizes a pivot-based detection algorithm to locate local highs and lows. It employs the request.security function to fetch data from the user-defined higher timeframe, ensuring that HTF levels are anchored correctly to the chart's timeline. The distinction between "Trend 1" and "Trend 2" allows for a multi-layered analysis of market momentum, helping users distinguish between minor corrections and major trend shifts.

Settings

General Settings

• Show trend lines?: Toggles the visibility of the automated trend lines.
• Show sup & res?: Toggles the visibility of horizontal support and resistance levels.
• Number of current TF pivots: Determines how many historical levels from the current timeframe are maintained on the chart.
• Number of higher TF pivots: Determines how many historical levels from the HTF are maintained.

Support & Resistance

• Choose higher time frame: Sets the timeframe used for the thicker, higher-priority levels.
• Pivot Length (Current/HTF): Sets the left and right-hand side bar counts required to confirm a pivot point for both timeframes.
• Line Width (Current/HTF): Adjusts the visual thickness of the horizontal lines.

Trend Lines

• Pivot Source: Choose whether to use high/low prices or other sources for trend line calculation.
• Left/Right Bars for Pivot: Defines the "depth" or confirmation period for the long-term (Trend 1) and short-term (Trend 2) trend lines.

FAQ

How do I differentiate between current and higher timeframe levels? Levels from your current timeframe appear as thin lines, whereas levels from your chosen higher timeframe are significantly thicker to indicate higher structural importance.

Can I change how sensitive the trend line detection is? Yes, by increasing the "left bars" and "right bars" in the trend pivot settings, the script will only detect more significant, longer-term trend lines. Decreasing these values makes the detection more sensitive to recent price action.

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