divergence software, inc.
Development & Consulting Services
Product Detail
S/R Trendlines for TradingView
TradingView indicators will be activated for your TradingView account and no installation is required. eSignal indicators will be delivered to you via email in zip files. Some of the more complex indicators have installer programs. In most cases we will require your eSignal username so that we can set up the entitlement for the indicator(s) you have purchased.
The majority of our indicators are licensed for a one-time fee (i.e., non-recurring). However, we do have some subscription-based products, including marketDirection Monitor, Harmonic Pattern Collection, and S/R Analyst Pro.
Description
This is a TradingView adaptation of our flagship S/R Analyst Pro support/resistance indicator. S/R Trendlines will automatically calculate and plot up to three upper and three lower trendlines based on pivots in the price data. The trendlines are ranked by a series of weightings (see below) and the highest-ranking trendline is always displayed as a thicker line.
You can specify the lookback, pivot size, minimum trendline length, minimum required touchpoints, a tolerance factor, and a series of user-defined weightings (i.e., touchpoint, length, gap, and proximity) that will allow you to control the characteristics of the trendlines identified by the software. The cosmetics are fully customizable as well.
S/R Trendlines will also identify and highlight the two most recent active gaps in the price data (i.e. Gap Up or Gap Down situations). Recent gaps tend to act as price magnets, particularly in stocks and futures, so this is a very useful feature. And, finally, S/R Trendlines will identify and highlight up to 4 support/resistance levels in the price action. These are displayed as dashed lines and the strength of each s/r level is displayed to the right of each line. You can specify the minimum required strength as well as a tolerance factor to be used specifically for support/resistance level checking.
User Guide should be ready in a few days.
Specifications
- Product ID: TV0010
- Study only, no source code provided
- Requires TradingView