1-2-3 Pivots Support and Resistance Lines

v10.3
1-2-3 Pivots Support and Resistance Lines

This indicator draws support and resistance lines that are an extension of the last three swing highs and last three swing lows (or fractal points). It is an updated version of my indicator that can be found here:

https://www.prorealcode.com/prorealtime-indicators/last-two-pivots-support-and-resistance-lines/

Whenever a new pivot point is formed a new support or resistance line starts to be drawn that lines up with previous pivot points.

In this new version the last three swing highs and last three swing lows are used. By ticking or unticking the relevant box various support and resistance lines can be displayed or removed as follows:

  • Pivots12 – Lines that are a continuation of a line connecting the last two high and low pivots.
  • Pivots13 – Lines that are a continuation of a line connecting the last and the second to last high and low pivots.
  • Pivots23 – Lines that are a continuation of a line connecting the second to last and third to last high and low pivots.
  • Avg12 – Lines that are an average of the Pivots12 and Pivots13 lines.
  • Avg123 – Lines that are an average of the Pivots12, Pivots13 and Pivots23 lines.
  • Avg12Mid – A line that is mid way between the Avg12 support and resistance lines.
  • Avg123Mid – A line that is mid way between the Avg123 support and resistance lines.
  • Connected – All  lines are drawn connected when a new pivot high or pivot low is formed

The pivot/fractals definition can be adjusted by changing the number of bars before and the number of bars after the high or low. So for example you can have a new pivot whenever a high has one candle lower either side of it or when it has two candles lower either side of it.

This indicator can be used to easily see if price is either bouncing off of support and resistance or if it is breaking out from support or resistance.

Download and import the ITF file to get full functionality.

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Risk disclosure:

No information on this site is investment advice or a solicitation to buy or sell any financial instrument. Past performance is not indicative of future results. Trading may expose you to risk of loss greater than your deposits and is only suitable for experienced investors who have sufficient financial means to bear such risk.

ProRealTime ITF files and other attachments : How to import ITF files into ProRealTime platform?

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  1. Vonasi • 01/19/2019 #

    There is another version of this indicator that can plot the same lines but onto an indicator rather than on to price. It can be found here:
    https://www.prorealcode.com/topic/1-2-3-pivots-support-and-resistance-lines-on-any-indicator/

  2. Martin35 • 01/19/2019 #

    Hello Vonasi, do you think it is possible with PRT to code with the same principle as on this indicator of :

    – Bullish and bearish triangles
    – Ascending and descending bees
    – Bullish and downside breakouts

    I do not know if technically, the platform could allow this kind of code.

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