Pine Scripters Network

Hi ,

I am trying to read support and resistance high and lows which are around current price from array. But I am not able understand. Can someone help me.I am using study("Support Resistance Channels", "SRchannel" by LonesomeTheBlue.

// This source code is subject to the terms of the Mozilla Public License 2.0 at https://mozilla.org/MPL/2.0/
// © LonesomeTheBlue

//@version=4
study("Support Resistance Channels", "SRchannel", overlay = true, max_bars_back = 501)
prd = input(defval = 10, title="Pivot Period", minval = 4, maxval = 30, group = "Settings ", tooltip="Used while calculating Pivot Points, checks left&right bars")
ppsrc = input(defval = 'High/Low', title="Source", options = ['High/Low', 'Close/Open'], group = "Settings ", tooltip="Source for Pivot Points")
ChannelW = input(defval = 5, title = "Maximum Channel Width %", minval = 1, maxval = 8, group = "Settings ", tooltip="Calculated using Highest/Lowest levels in 300 bars")
minstrength = input(defval = 1, title = "Minimum Strength", minval = 1, group = "Settings ", tooltip = "Channel must contain at least 2 Pivot Points")
maxnumsr = input(defval = 6, title = "Maximum Number of S/R", minval = 1, maxval = 10, group = "Settings ", tooltip = "Maximum number of Support/Resistance Channels to Show") - 1
loopback = input(defval = 290, title = "Loopback Period", minval = 100, maxval = 400, group = "Settings ", tooltip="While calculating S/R levels it checks Pivots in Loopback Period")
res_col = input(defval = color.new(color.red, 75), title = "Resistance Color", group = "Colors ")
sup_col = input(defval = color.new(color.lime, 75), title = "Support Color", group = "Colors ")
inch_col = input(defval = color.new(color.gray, 75), title = "Color When Price in Channel", group = "Colors ")
showpp = input(defval = false, title = "Show Pivot Points", group = "Extras ⏶⏷")
showsrbroken = input(defval = false, title = "Show Broken Support/Resistance", group = "Extras ⏶⏷")
showthema1en = input(defval = false, title = "MA 1", inline = "ma1")
showthema1len = input(defval = 50, title = "", inline = "ma1")
showthema1type = input(defval = "SMA", title = "", options = ["SMA", "EMA"], inline = "ma1")
showthema2en = input(defval = false, title = "MA 2", inline = "ma2")
showthema2len = input(defval = 200, title = "", inline = "ma2")
showthema2type = input(defval = "SMA", title = "", options = ["SMA", "EMA"], inline = "ma2")

ma1 = showthema1en ? (showthema1type == "SMA" ? sma(close, showthema1len) : ema(close, showthema1len)) : na
ma2 = showthema2en ? (showthema2type == "SMA" ? sma(close, showthema2len) : ema(close, showthema2len)) : na

plot(ma1, color = not na(ma1) ? color.blue : na)
plot(ma2, color = not na(ma2) ? color.red : na)

// get Pivot High/low
float src1 = ppsrc == 'High/Low' ? high : max(close, open)
float src2 = ppsrc == 'High/Low' ? low: min(close, open)
float ph = pivothigh(src1, prd, prd)
float pl = pivotlow(src2, prd, prd)

// draw Pivot points
plotshape(ph and showpp, text = "H", style = shape.labeldown, color = na, textcolor = color.red, location = location.abovebar, offset = -prd)
plotshape(pl and showpp, text = "L", style = shape.labelup, color = na, textcolor = color.lime, location = location.belowbar, offset = -prd)

//calculate maximum S/R channel width
prdhighest = highest(300)
prdlowest = lowest(300)
cwidth = (prdhighest - prdlowest) * ChannelW / 100

// get/keep Pivot levels
var pivotvals= array.new_float(0)
var pivotlocs= array.new_float(0)
if ph or pl
array.unshift(pivotvals, ph ? ph : pl)
array.unshift(pivotlocs, bar_index)
for x = array.size(pivotvals) - 1 to 0
if bar_index - array.get(pivotlocs, x) > loopback // remove old pivot points
array.pop(pivotvals)
array.pop(pivotlocs)
continue
break

//find/create SR channel of a pivot point
get_sr_vals(ind)=>
float lo = array.get(pivotvals, ind)
float hi = lo
int numpp = 0
for y = 0 to array.size(pivotvals) - 1
float cpp = array.get(pivotvals, y)
float wdth = cpp <= hi ? hi - cpp : cpp - lo
if wdth <= cwidth // fits the max channel width?
if cpp <= hi
lo := min(lo, cpp)
else
hi := max(hi, cpp)

numpp := numpp + 20 // each pivot point added as 20
[hi, lo, numpp]

// keep old SR channels and calculate/sort new channels if we met new pivot point
var suportresistance = array.new_float(20, 0) // min/max levels
changeit(x, y)=>
tmp = array.get(suportresistance, y * 2)
array.set(suportresistance, y * 2, array.get(suportresistance, x * 2))
array.set(suportresistance, x * 2, tmp)
tmp := array.get(suportresistance, y * 2 + 1)
array.set(suportresistance, y * 2 + 1, array.get(suportresistance, x * 2 + 1))
array.set(suportresistance, x * 2 + 1, tmp)

if ph or pl
supres = array.new_float(0) // number of pivot, strength, min/max levels
stren = array.new_float(10, 0)
// get levels and strengs
for x = 0 to array.size(pivotvals) - 1
[hi, lo, strength] = get_sr_vals(x)
array.push(supres, strength)
array.push(supres, hi)
array.push(supres, lo)

// add each HL to strengh
for x = 0 to array.size(pivotvals) - 1
h = array.get(supres, x * 3 + 1)
l = array.get(supres, x * 3 + 2)
s = 0
for y = 0 to loopback
if (high[y] <= h and high[y] >= l) or
(low[y] <= h and low[y] >= l)
s := s + 1
array.set(supres, x * 3, array.get(supres, x * 3) + s)

//reset SR levels
array.fill(suportresistance, 0)
// get strongest SRs
src = 0
for x = 0 to array.size(pivotvals) - 1
stv = -1. // value
stl = -1 // location
for y = 0 to array.size(pivotvals) - 1
if array.get(supres, y * 3) > stv and array.get(supres, y * 3) >= minstrength * 20
stv := array.get(supres, y * 3)
stl := y
if stl >= 0
//get sr level
hh = array.get(supres, stl * 3 + 1)
ll = array.get(supres, stl * 3 + 2)
array.set(suportresistance, src * 2, hh)
array.set(suportresistance, src * 2 + 1, ll)
array.set(stren, src, array.get(supres, stl * 3))

// make included pivot points' strength zero
for y = 0 to array.size(pivotvals) - 1
if (array.get(supres, y * 3 + 1) <= hh and array.get(supres, y * 3 + 1) >= ll) or
(array.get(supres, y * 3 + 2) <= hh and array.get(supres, y * 3 + 2) >= ll)
array.set(supres, y * 3, -1)

src += 1
if src >= 10
break

for x = 0 to 8
for y = x + 1 to 9
if array.get(stren, y) > array.get(stren, x)
tmp = array.get(stren, y)
array.set(stren, y, array.get(stren, x))
changeit(x, y)


get_level(ind)=>
float ret = na
if ind < array.size(suportresistance)
if array.get(suportresistance, ind) != 0
ret := array.get(suportresistance, ind)
ret

get_color(ind)=>
color ret = na
if ind < array.size(suportresistance)
if array.get(suportresistance, ind) != 0
ret := array.get(suportresistance, ind) > close and array.get(suportresistance, ind + 1) > close ? res_col :
array.get(suportresistance, ind) < close and array.get(suportresistance, ind + 1) < close ? sup_col :
inch_col
ret

var srchannels = array.new_box(10)
for x = 0 to min(9, maxnumsr)
box.delete(array.get(srchannels, x))
srcol = get_color(x * 2)
if not na(srcol)
array.set(srchannels, x,
box.new(left = bar_index, top = get_level(x * 2), right = bar_index + 1, bottom = get_level(x * 2 + 1),
border_color = srcol,
border_width = 1,
extend = extend.both,
bgcolor = srcol))

resistancebroken = false
supportbroken = false

// check if it's not in a channel
not_in_a_channel = true
for x = 0 to min(9, maxnumsr)
if close <= array.get(suportresistance, x * 2) and close >= array.get(suportresistance, x * 2 + 1)
not_in_a_channel := false

// if price is not in a channel then check broken ones
if not_in_a_channel
for x = 0 to min(9, maxnumsr)
if close[1] <= array.get(suportresistance, x * 2) and close > array.get(suportresistance, x * 2)
resistancebroken := true
if close[1] >= array.get(suportresistance, x * 2 + 1) and close < array.get(suportresistance, x * 2 + 1)
supportbroken := true

alertcondition(resistancebroken, title = "Resistance Broken", message = "Resistance Broken")
alertcondition(supportbroken, title = "Support Broken", message = "Support Broken")
plotshape(showsrbroken and resistancebroken, style = shape.triangleup, location = location.belowbar, color = color.new(color.lime, 0), size = size.tiny)
plotshape(showsrbroken and supportbroken, style = shape.triangledown, location = location.abovebar, color = color.new(color.red, 0), size = size.tiny)


This is the source code.

Thanks

Can you please explain more on what you are trying to figure out? Your question is not clear. Maybe an example would help also.