Dilip Zone's
This indicator allows you to specify price zones in which to detect basic candlestick patterns.
In the example above, I have specified the most immediate support and resistance zones on Bank nifty and set the script to detect price action. If a price action occurs within the resistance zone a signal will be generated; likewise for price action within the support zone .
The purpose of this indicator is to generate trading alerts when these patterns occur in order to reduce the screen-time required to monitor setups. This indicator is intended for structure traders primarily, although it could be used by anyone who uses zones and candlestick patterns to enter trades.
If you leave either zone set to 0 then that zone will not be used, meaning that you can use this to detect both support and resistance signals, or only signals at support, or only signals at resistance.
Settings:
R1: First Resistance Price
R2: Second Resistance Price
S1: First Support Price
S2: Second Support Price
I find, with the standard settings, it works best on the 5 minutes timeframe as shown, but again, can be used on any time frame.
For access, send me a DM on TradingView
In the example above, I have specified the most immediate support and resistance zones on Bank nifty and set the script to detect price action. If a price action occurs within the resistance zone a signal will be generated; likewise for price action within the support zone .
The purpose of this indicator is to generate trading alerts when these patterns occur in order to reduce the screen-time required to monitor setups. This indicator is intended for structure traders primarily, although it could be used by anyone who uses zones and candlestick patterns to enter trades.
If you leave either zone set to 0 then that zone will not be used, meaning that you can use this to detect both support and resistance signals, or only signals at support, or only signals at resistance.
Settings:
R1: First Resistance Price
R2: Second Resistance Price
S1: First Support Price
S2: Second Support Price
I find, with the standard settings, it works best on the 5 minutes timeframe as shown, but again, can be used on any time frame.
For access, send me a DM on TradingView