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Malaysian Levels

Malaysian Levels 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 2025.01.04
Gap levels are ignored if displayGaps is set to false.