Multi Timeframe Support & Resistance

The Multi Timeframe Support & Resistance indicator identifies and plots critical pivot-based price levels from two user-defined timeframes simultaneously to provide a comprehensive view of market structure.

Usage

This tool is designed to help traders stay grounded in the broader market context while executing trades on lower timeframes. By visualizing higher timeframe resistance and support, users can avoid entering long positions near major supply zones or short positions near established demand zones.

The indicator displays horizontal lines for support (pivot lows) and resistance (pivot highs). When price breaks through these levels, the lines remain static until a new pivot point is confirmed based on the lookback and lookahead settings. Optionally, users can enable "Ranges" to see shaded areas around these levels, representing a percentage-based zone of interest rather than a single price point.

Details

The script utilizes the ta.pivotlow() and ta.pivothigh() functions to identify structural turning points. It employs request.security() to fetch these calculations from external timeframes, ensuring that traders can view 1-hour or 4-hour levels while charting on a 5-minute timeframe. The "lookback" and "lookahead" parameters determine the strength and frequency of the pivots; higher values result in more significant but less frequent levels, while lower values react more quickly to local price action.

Settings

Support & Resistance Settings

• Support Look Back/Ahead: Defines the number of bars required to the left and right of a low to confirm it as a support pivot.
• Resistance Look Back/Ahead: Defines the number of bars required to the left and right of a high to confirm it as a resistance pivot.

Support & Resistance 1 & 2

• Timeframe: Selects the specific timeframe (e.g., 60m, 240m, Daily) from which to derive the levels.
• Enable Support & Resistance Ranges: Toggles the visibility of shaded zones around the pivot lines.
• Support/Resistance Range (%): Determines the vertical width of the shaded zone as a percentage of the price.
• Color Selectors: Customizes the visual appearance of the lines and range fills for each timeframe.

FAQ

How do I access Multi Timeframe Support & Resistance?

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

Why are the lines not moving immediately when price breaks them?

The lines are based on confirmed pivots. A new line will only appear once the price has formed a new pivot high or low that satisfies the lookback and lookahead requirements.

Can I use this on any timeframe?

Yes, you can apply this indicator to any chart timeframe and configure the two internal timeframe settings to display any higher (or lower) intervals as needed.