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XAUUSD
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SmartTrend Support & Resistance Lines
"SmartTrend Support & Resistance Lines" logo
03/09/2025
283
Desktop
"SmartTrend Support & Resistance Lines" uploaded image"SmartTrend Support & Resistance Lines" uploaded image"SmartTrend Support & Resistance Lines" uploaded image"SmartTrend Support & Resistance Lines" uploaded image"SmartTrend Support & Resistance Lines" uploaded image

 Pinescritlabs
Ctrader Store indicators:                        🤖Pinescritlabs Ctrader Store cBots:

 Fair Value Gap Sessions                         Gold & BTC Breakout Session Pivots(new)

ZigZag

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Dynamic Market Structure
Analysis of Turning Points

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Fibonacci Linear
Regression Multi-timeframe

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Dynamic RSI

Momentum Fair Value Gap

Market Flow Projection

Dynamic Trend Gradient

Multi-Level Candle Bias
Tracker

Zig-Zag Extremity Tracker

Reactive Moving Average

Auto-Trend Channel

Auto Support and
Resistance Trend Lines

All Support and
Resistance Levels

Leverage Liquidation Map

Zones Supply Demand

Dynamic Range Momentum


Auto Support and Resistance Trend Lines:

This algorithm is a powerful tool 🛠️ designed to automatically identify support and resistance levels on a price chart. Not only does it draw horizontal lines, but it also traces diagonal channels ↗️↘️ that represent market trends. These levels and channels are key areas where the price has struggled to move higher (resistance 🚧) or lower (support 🛡️), making them crucial points for trading decisions. 📈📉

How Are the Calculations Done? 🔍

The algorithm uses a price history analysis approach 📊 to identify support and resistance levels. Here’s how it works:

  1. Identification of Local Lows and Highs ⬇️⬆️
    • The algorithm analyzes the price over a specific range of bars (candles) to find local lows (the lowest prices in that range) and local highs (the highest prices in that range).
    • These local lows and highs are potential candidates to become support and resistance levels.
  2. Validation of Levels ✔️
    • Once local lows and highs are identified, the algorithm checks whether these levels have been respected by the price in the past.
    • If the price has touched a level multiple times without clearly breaking it, it is considered a valid support or resistance level.
  3. Drawing Lines and Channels ✏️
    • Support levels are drawn as horizontal (or diagonal) lines at validated local lows.
    • Resistance levels are drawn as horizontal (or diagonal) lines at validated local highs.
    • Additionally, the algorithm connects these levels to form diagonal channels ↗️↘️, which represent bullish or bearish trends in the market.
  4. Dynamic Updates 🔄
    • The indicator automatically updates with each new bar, recalculating and redrawing support and resistance levels based on the most recent price behavior.

How Does This Algorithm Help Traders? 💡

This algorithm is a game-changer for traders because:

  1. Provides a Macro View of the Market 🌐
    • By drawing diagonal channels, the algorithm shows the main market trends, helping traders identify whether the price is in an uptrend 📈, downtrend 📉, or sideways movement ↔️.
  2. Identifies Key Support and Resistance Areas 🎯
    • Support and resistance levels are zones where the price may bounce or break. These levels are useful for:
      • Setting entry and exit points for trades.
      • Placing stop-loss 🛑 and take-profit ✅ orders.
      • Identifying breakouts 🚀 or reversals 🔄 in price.
  3. Simplifies Technical Analysis 🕒
    • The algorithm automates the process of identifying support and resistance, saving time for traders who perform manual analysis.
    • By clearly displaying levels and channels, it helps traders make more informed decisions.
  4. Customizable 🎨
    • Traders can adjust parameters such as the number of historical bars analyzedline thickness, and colors, allowing the indicator to be tailored to different trading styles and visual preferences.

Practical Example 📌

Imagine you’re analyzing a price chart, and the algorithm has drawn:

  • diagonal support line ↗️ connecting several local lows, indicating an uptrend.
  • diagonal resistance line ↗️ connecting several local highs, showing an upward channel.
  • Several horizontal lines representing key support and resistance levels.

With this information, you can:

  • Identify that the price is in an uptrend 📈.
  • Look for buying opportunities near the diagonal support line or horizontal support levels.
  • Set a stop-loss 🛑 below the nearest support level.
  • Observe whether the price breaks the resistance to confirm a continuation of the trend or a potential reversal 🔄.


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