i suggest to make exetnsion based on the bb or kelneter channel outer H/L to extent till the first breakout or reversal price .. i try this way and get good result..styan01 wrote: Mon Feb 07, 2022 11:58 pm We added the “Extend Only The Nearest High/Low Lines” function to True S/R Level Indicator.
This function is similar to the "Triangle Mode" in True Trendline Indicator where the indicator draws only two trendlines. The result is a less confusing chart. Ideal, for example, if You only use Support and Resistance levels as confirmation for an entry with divergences.
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sal wrote: Tue Feb 08, 2022 12:54 am i suggest to make exetnsion based on the bb or kelneter channel outer H/L to extent till the first breakout or reversal price .. i try this way and get good result..
any free version !!
no sirstyan01 wrote: Tue Feb 08, 2022 7:44 pm Hi, The current version of BB has the customizable color mode and color settings. You can change the color (or set to none) if the price broke the outer BB lines. I marked the settings. Did You think for this?
Keltner Channel is a good idea for a free indicator (with similar abilites) in the near future, thanks.
nice and expecting a new version !!..styan01 wrote: Wed Feb 09, 2022 6:31 am Ahhh I understand...
Great approach. The trendline, level, and divergence filtering is a very important thing.
The fractal indicator simply analyzes 4 candles to find a specified pattern and the ZigZag collects the highest and lowest fractals in a fixed period. However the True SR Level Indicator's peak/bottom recognition analyzes the complete price movements. 80% of points are the same but my indicator analyzes with a refined method.
Two or more touches peaks/bottoms are always stronger of course and I think it's a more important filtering method. That's why I'm working on the two or more touches SR Level showing option (similarly to the 3 touches trendline recognition in True Trendline Indicator).
In any case I will think about a BB or Keltner channel or other filtering methods.
Of course, I sent the answersudhindragk wrote: Sun Feb 13, 2022 9:19 pm Hi Styan
Can you please check your info@ email id for my message.
Regards
Sudhindra
