Support/Resistance Lines

The Support/Resistance Lines tool allows users to visualize custom support and resistance levels by manually inputting price data into the settings. Designed to streamline the display of external analysis, it provides a clean, organized way to track key price points across various tickers without cluttering the chart with manual drawings.

Usage

The tool is designed for users who have a list of price levels from external analysis and want to project them onto their charts automatically.

• Custom Levels: Users can input specific price values for support and resistance.
• Symbol Specificity: The indicator allows you to specify a ticker symbol for the levels; if you switch to a different symbol, the lines will automatically hide to prevent confusion.
• Visual Organization: Users can choose to display or hide price labels, adjust line styles (solid, dashed, dotted), and modify text sizes for better readability.
• SPY/SPX/ES Conversions: Specialized inputs are available for converting levels between SPY, SPX, and ES based on user-defined conversion rates.

Details

This script does not calculate support or resistance levels automatically. Instead, it serves as a sophisticated drawing manager. By parsing text blocks or manual inputs, it handles the visual rendering of lines and labels. This is particularly useful for traders who follow specific analysts or daily market reports and need those levels plotted precisely on their TradingView charts. The script includes logic to differentiate between standard S/R levels and "Macro" levels, allowing for two distinct visual styles on the same chart.

Settings

Levels Configuration

• Copy OM SPY S/R Levels Here: A text area to paste formatted levels for SPY/SPX/ES symbols.
• Copy OM Weekly ES Macro Levels Here: A text area for longer-term macro levels.
• Other Ticker Symbol: Define a specific symbol (e.g., AAPL) for the "Other" level category.

Conversions

• SPY/SPX: The conversion factor used to adjust SPY levels for the SPX index.
• SPY/ES: The conversion factor used to adjust SPY levels for S&P 500 Futures.

Layout for S/R and Macro Levels

• Show lines/labels/prices: Individual toggles to control the visibility of each element.
• Text Size / Offset: Controls the font size and horizontal placement of price labels.
• Line Size / Style: Customizes the thickness and pattern of the horizontal lines.
• Color (Support/Resistance/Strong): Sets specific colors for different types of levels, including "Strong" variants for highlighted zones.

FAQ

How do I input my own levels? You can enter your specific price levels into the input text boxes or individual value fields within the indicator settings menu.

Why are the lines not showing up on my chart? Ensure that the "Other Ticker Symbol" matches your current chart exactly, or that you are using the supported SPY/SPX/ES symbols if using the primary input blocks. Also, check that the "Show lines" toggle is enabled.

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