RB-SR Dynamic supports resistances

Oscillator based on two moving averages: The first is a weighted moving average and the second one a simple average that detect the sensitivity of the movement of the price.

The indicator marks “dynamic supports” when MA crossing, making a channel in the price.

BUY conditions:

• When the SR (green) line is crossed up with the SR-Signal line (red line) it is called a continuation signal, a BUY signal is given.
• When the SR line (green) is outside the channel and crosses upwards with the Lower Limit (blue line) and this line with the SR-Signal line, a strong buy signal is given.

SELL conditions:

• When the SR (green) line crosses down with the SR-Signal line (red line) it is called a bearish cross, a sell signal is given.
• When the SR (green) line is outside the channel and crosses down with the Upper Limit (blue line) and this line with the SR-Signal line, a strong sell signal is given.

This indicator is accurate in 1 hour timeframe or higher timeframes and is adaptable as a separate indicator or next to the price.

Attached channel configuration add a color zone and select Upper channel and Lower channel as shown in the picture.

//RB-SR | indicator
//22.12.2017
//RB @ www.tiburonesdealetacorta.com
//Sharing ProRealTime

SRL=weightedaverage[8](close)
SRR = average[8](close)
SR = 2*srl - srr

SRSL=weightedaverage[20](close)
SRSR = average[20](close)
srsignal = 2*srSl - srSr

if sr>srsignal THEN
 UP = highest[round(150)](sr)
 NUP = highest[round(20)](srsignal)
ELSE
 UP = highest[round(150)](srsignal)
 NUP = highest[round(20)](sr)
ENDIF

if sr<srsignal THEN
 Lowl = lowest[round(150)](sr)
 NIN = lowest[round(20)](srsignal)
ELSE
 Lowl = lowest[round(150)](sr)
 NIN = lowest[round(20)](srsignal)
ENDIF

RETURN sr COLOURED(0,255,0) as "SR", srsignal COLOURED(255,0,0) as "SR-Signal", up COLOURED(51,51,255) as "Upper limit",lowl COLOURED(51,51,255) as "Lower limit",nup COLOURED(51,51,255) as "Neuronal Upper",nin COLOURED(51,51,255) as "Neuronal Lower"