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MSnR Lines

60 USD

Demo downloaded: 18

Published: 5 June 2024

Current version: 1.5

MSnR Lines

Indicators
Pierre Paul Amoussou
Version: 1.5
Updated: 12 June 2024
Activations: 5

MSnR Lines is a custom indicator designed to display Support and Resistance levels on a chart. These levels are based on Malaysian Support and Resistance theory, which defines levels not as areas but as specific price levels derived from line chart peaks and valleys.

Features:

Three types of levels: A-Level, V-Level, and Gap Level.
Freshness indication for levels: Fresh levels are more significant than unfresh levels.
Customizable color and style for fresh and unfresh levels.
Option to display only fresh levels or all levels.
Adjustable lookback period and number of levels above and below the current price.
Supports multiple timeframes.

Usage:
Traders can use MSnR Lines to identify potential support and resistance levels for trading decisions. Fresh levels are considered more significant and may present better trading opportunities.

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Version 1.5 2024.06.12

Gap levels are ignored if displayGaps is set to false.

Version 1.4 2024.06.09

Bug fix: The number of periods defined in lookbackBars will no longer increase by 1.

Version 1.3 2024.06.08

Fresh levels are now correctly detected and all levels are displayed according to the timeframe set in the parameters.

Version 1.2 2024.06.08

The indicator works with the specified timeframe and updates accordingly.

Version 1.1 2024.06.08

Bug correction in the detection of all MSnR levels.