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Support Resistance Classification (VR)

By LuxAlgoMay 30, 2023147 chart adds

Support Resistance Classification (VR) is an indicator on Vela, our next-generation charting platform, written in Pine Script®.

Static chart image
S/R ZoneLevel Clustering Algorithms
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Support Resistance Classification (VR) ranks the SR levels on your screen from 1 upward, strongest (fewest breaks) first, using higher-timeframe data confined to the visible range. Adjust the view and the indicator recalculates, grading whatever history is displayed, an exploratory way of asking, for any period, which levels deserved respect. Its scoring pass is a close relative of level clustering algorithms, which rank groups of nearby prices by their historical significance.

How to Trade the Support Resistance Classification (VR)?

  • Lean on rank 1: a level classified 1 is the strongest in the visible range, the first place to look for reactions and potential reversals.
  • Scan history by scrolling: pan across past data and let the levels recalculate, a fast way to audit how classified levels behaved.
  • HTF context on any chart: because levels derive from higher-timeframe data, lower-timeframe traders inherit the bigger picture automatically.
  • Swings use the whole line: whichever value/line option is active, swing levels are always checked for breaks across the full visible range.

Support Resistance Classification (VR) Settings

  • Fade: makes lines invisible after a set number of breaks.
  • Value / line: 'line' counts breaks against the latest level extended across the visible range; 'value' counts them against the reference's own value on each bar (SMA, upper/lower Bollinger band) or only within the current higher-timeframe period (Fibonacci pivot point levels, previous high/low). Swings always use the whole line.
  • Left/Right & Show: swing pivot calculation on the chart timeframe, with optional pivot display.
  • Number, Type, Length, MULT, HTF: configure each reference set: its type, calculation length, deviation multiplier, and higher timeframe.
  • A–E displays: show up to five chosen values (swings excepted) to verify which configuration fits your market.

Frequently Asked Questions

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Also works on

TradingView
Original indicatorBuilt in-house by LuxAlgo

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