Support & Resistance Ultimate Solid S R Lines No Repaint

The Support & Resistance Ultimate Solid S R Lines No Repaint indicator provides a streamlined and systematic approach to identifying key market levels using pivot-based logic. It automatically plots non-repainting solid horizontal lines representing major support and resistance zones, helping traders visualize potential bounce or rejection points without chart clutter.

Usage

This tool is designed to highlight recent price interaction zones based on swing highs and lows. Users can leverage these levels for several trading scenarios:

• Reversal Trading: Monitor for price rejections at "R" (Resistance) labels or bounces at "S" (Support) labels.
• Trend Confirmation: Use the integrated Status Table to view the alignment of EMA 10, 20, 50, and 200. Trading in the direction of the long-term trend (e.g., price above EMA 200) can increase the reliability of support bounces.
• Intraday Levels: The tool automatically calculates and displays the Previous Day High (PDH) and Previous Day Low (PDL), which serve as critical daily benchmarks for breakout or mean-reversion strategies.
• Confluence: Combine the solid S/R lines with the built-in RSI and MACD status indicators. For instance, a support touch accompanied by an oversold RSI reading may signal a higher-probability long entry.

Details

The script utilizes confirmed pivot points (based on a user-defined number of bars to the left and right) to ensure that the levels are non-repainting. Once a pivot is confirmed, a horizontal line is projected forward. To maintain chart clarity, the indicator uses an automated cleanup mechanism that only displays the most recent set of levels (adjustable via settings).

In addition to horizontal S/R, the script includes a multi-indicator dashboard that tracks EMA crossovers, MACD momentum, RSI positioning, and ADX trend strength, providing a comprehensive overview of the market environment in a single glance.

Settings

Pivot Settings

• Pivot Left/Right Bars: Determines the strength of the pivot. Higher values result in more significant, but fewer, levels.
• Max Support/Resistance Levels: Controls the number of recent levels displayed on the chart to prevent clutter.
• Line Width: Adjusts the thickness of the horizontal S/R lines.

Previous Day Levels

• Gap Offset %: Sets the vertical spacing between the PDH/PDL labels and the candle.
• Show Previous Day High/Low: Toggles the visibility of the previous day's extreme levels.

Table Display

• Show EMA/MACD/RSI/ADX Table: Toggles the visibility of the status dashboard.
• ADX Length: Sets the lookback period for the Average Directional Index calculation.
• ADX Strong Trend Threshold: Defines the value above which a trend is considered "Strong" in the status table.

FAQ

How do I use this tool for alerts? The indicator includes built-in alert triggers for new level detection and crosses of the Previous Day High/Low. You can set these up by clicking the "Alerts" icon in TradingView and selecting this script as the condition.

Does this indicator repaint? No, the script uses confirmed pivot points based on the "Right Bars" setting, meaning the levels only appear once the price action has confirmed the swing point.

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