//@version=4 study("Support Resistance - Dynamic", overlay = true, max_bars_back = 600) rb = input(10, title = "Period for Pivot Points", minval = 10) prd = input(284, title = "Loopback Period", minval = 100, maxval = 500) nump = input(2, title ="S/R strength", minval = 1) ChannelW = input(10, title = "Channel Width %", minval = 5) label_location = input(10, title = "Label Location +-", tooltip = "0 means last bar. for example if you set it -5 then label is shown on last 5. bar. + means future bars") linestyle = input('Dashed', title = "Line Style", options = ['Solid', 'Dotted', 'Dashed']) LineColor = input(color.blue, title = "Line Color", type = input.color) drawhl = input(true, title = "Draw Highest/Lowest Pivots in Period") showpp = input(false, title = "Show Point Points")   ph = pivothigh(rb, rb) pl = pivotlow(rb, rb) plotshape(ph and showpp, text="PH",  style=shape.labeldown, color=color.new(color.white, 100), textcolor = color.red, location=location.abovebar, offset = -rb) plotshape(pl and showpp, text="PL",  style=shape.labelup, color=color.new(color.white, 100), textcolor = color.lime, location=location.belowbar, offset = -rb) // S/R levels sr_levels = array.new_float(21, na) // if number of bars is less then the loop then pine highest() fundtion brings 'na'. we need highest/lowest to claculate channel size // so you cannot see S/R until the number of bars is equal/greater then the "Loopback Period" prdhighest =  highest(prd) prdlowest = lowest(prd) cwidth = (prdhighest - prdlowest) * ChannelW / 100 //availability of the PPs aas = array.new_bool(41, true) // last privot points have more priority to be support/resistance, so we start from them // if we met new Pivot Point then we calculate all supports/resistances again u1 = 0.0, u1 := nz(u1[1]) d1 = 0.0, d1 := nz(d1[1]) highestph = 0.0 lowestpl = 0.0 highestph := highestph[1] lowestpl := lowestpl[1] if ph or pl     //old S/Rs not valid anymore     for x = 0 to array.size(sr_levels) - 1         array.set(sr_levels, x, na)     highestph := prdlowest     lowestpl := prdhighest     countpp = 0 // keep position of the PP     for x = 0 to prd         if na(close[x])             break         if not na(ph[x]) or not na(pl[x]) // is it PP?             highestph := max(highestph, nz(ph[x], prdlowest), nz(pl[x], prdlowest))             lowestpl := min(lowestpl, nz(ph[x], prdhighest), nz(pl[x], prdhighest))             countpp := countpp + 1             if countpp > 40                 break             if array.get(aas, countpp) // if PP is not used in a channel                 upl = (ph[x] ? high[x+rb] : low[x+rb]) + cwidth                 dnl = (ph[x] ? high[x+rb] : low[x+rb]) - cwidth                 u1 := countpp == 1 ? upl : u1                 d1 := countpp == 1 ? dnl : d1                 // to keep the PPs which will be in current channel                 tmp = array.new_bool(41, true)                                 cnt = 0  // keep which pivot point we are on                 tpoint = 0 // number of PPs in the channel                 for xx = 0 to prd                     if na(close[xx])                         break                     if not na(ph[xx]) or not na(pl[xx])                         chg = false                         cnt := cnt + 1                         if cnt > 40                             break                         if array.get(aas, cnt) // if PP not used in other channels                             if not na(ph[xx])                                 if high[xx+rb] <= upl and high[xx+rb] >= dnl // PP is in the channel?                                     tpoint := tpoint + 1                                     chg := true                                                             if not na(pl[xx])                                 if low[xx+rb] <= upl and low[xx+rb] >= dnl   // PP is in the channel?                                     tpoint := tpoint + 1                                     chg := true                         // set if PP is used in the channel                         if chg and cnt < 41                             array.set(tmp, cnt, false)                                             if tpoint >= nump // met enough PP in the channel? mark the PP as used for a channel and set the SR level                     for g = 0 to 40                         if not array.get(tmp, g)                             array.set(aas, g, false)                                                 if ph[x] and countpp < 21                         array.set(sr_levels, countpp, high[x+rb])                     if pl[x] and countpp < 21                         array.set(sr_levels, countpp, low[x+rb]) setline( level) =>     LineStyle = linestyle == 'Solid' ? line.style_solid :        linestyle == 'Dotted' ? line.style_dotted :        line.style_dashed     _ret = line.new(bar_index - 1 , level, bar_index , level, color = LineColor, width = 2, style = LineStyle, extend = extend.both)   if ph or pl     var line highest_ = na     var line lowest_ = na     line.delete(highest_)     line.delete(lowest_)     if drawhl         highest_ := line.new(bar_index - 1 , highestph, bar_index , highestph, color = color.blue, style = line.style_dashed, width = 1, extend = extend.both)         lowest_ := line.new(bar_index - 1 , lowestpl, bar_index , lowestpl, color = color.blue, style = line.style_dashed, width = 1, extend = extend.both)         var sr_lines = array.new_line(21, na)     for x = 0 to array.size(sr_lines) - 1         line.delete(array.get(sr_lines, x))         if array.get(sr_levels, x)             array.set(sr_lines, x, setline(array.get(sr_levels, x))) // set new labels if changed var sr_levs = array.new_float(21, na) if ph or pl     for x = 0 to array.size(sr_levs) - 1         array.set(sr_levs, x, array.get(sr_levels, x)) // define and delete old labels label hlabel = na label llabel = na label.delete(hlabel[1]) label.delete(llabel[1]) var sr_labels = array.new_label(21, na) bool resistance_broken = false bool support_broken = false float r_s_level = na // set labels for x = 0 to array.size(sr_labels) - 1     label.delete(array.get(sr_labels, x))     if array.get(sr_levs, x)         if close[1] <= array.get(sr_levs, x) and close > array.get(sr_levs, x)             resistance_broken := true             r_s_level := array.get(sr_levs, x)         if close[1] >= array.get(sr_levs, x) and close < array.get(sr_levs, x)             support_broken := true             r_s_level := array.get(sr_levs, x)         lab_loc = (close >= array.get(sr_levs, x) ? label.style_labelup : label.style_labeldown)         array.set(sr_labels, x,                   label.new(x = bar_index + label_location, y = array.get(sr_levs, x), text = tostring(round_to_mintick(array.get(sr_levs, x))), color = color.lime, textcolor = color.black, style = lab_loc)) hlabel := drawhl ? label.new(x = bar_index + label_location + round(sign(label_location)) * 20, y = highestph, text = "Highest PH " + tostring(highestph), color = color.silver, textcolor=color.black, style=label.style_labeldown) : na llabel := drawhl ? label.new(x = bar_index + label_location + round(sign(label_location)) * 20, y = lowestpl, text = "Lowest PL " + tostring(lowestpl), color = color.silver, textcolor=color.black, style=label.style_labelup) : na plot(r_s_level, title = "RS_level", display = display.none) alertcondition(resistance_broken, title='Resistance Broken', message='Resistance Broken, Close Price: {{close}}, Resistance level = {{plot("RS_level")}}') alertcondition(support_broken, title='Support Broken', message='Support Broken, Close Price: {{close}}, Support level = {{plot("RS_level")}}')