Support, Resistance and Median with Trend

Table of Contents

Support, Resistance and Median with Trend

About the Indicator

Based on a user-defined historical lookback period, the Support, Resistance and Median with Trend indicator is a market structure tool designed to identify key horizontal price zones - specifically the most recent support, resistance, and median levels. This tool helps traders:

It is ideal for range-bound and trending markets where horizontal levels serve as reversal zones or breakout triggers.

Usage Strategy

Use this indicator to:

Trend Conditions:

A visual label indicates trend direction, enabling fast market scanning.

Input Parameters

Parameter Description Type Default Options
length Historical period to calculate levels Integer 22 22, 44, 66

Formula

resistance = highest(high, length)
support = lowest(low, length)
median = (resistance + support) / 2

is_uptrend = close[0] > median and close[1] > median
is_downtrend = close[0] < median and close[1] < median

Visualization & Interpretation

Interpretation Guide:

Strategy Tips

Pine to Indie Comparison

Feature PineScript v5 Indie v5
Plotting lines plot(..., style=plot.style_line) @plot.line(..., color=...)
Trend condition check close > median self.close[0] > median_level
Historical series ta.highest(high, length) Highest.new(self.high, length)[0]
Future projections Manual with line.new and arrays Use MutSeriesF and draw_line
Label rendering table.cell(...) draw_text(...) or Label (planned)

Indie Benefits

Key Code Logic (Indie v5)

highest_high = Highest.new(self.high, length)[0]
lowest_low = Lowest.new(self.low, length)[0]
median_level = (highest_high + lowest_low) / 2

is_uptrend = self.close[0] > median_level and self.close[1] > median_level
is_downtrend = self.close[0] < median_level and self.close[1] < median_level

return highest_high, lowest_low, median_level

Limitations

Ideal Use Cases

Educational Value for Developers

This indicator is perfect for developers transitioning from Pine to Indie. It:

Full Source Code (Indie)

#education purpose
# indie:lang_version = 5
from indie import indicator, param, plot, color, MainContext
from indie.algorithms import Highest, Lowest

@indicator("Support, Resistance and Median with Trend", overlay_main_pane=True)
@param.int("length", default=22, min=1, title="Historical Length")
@plot.line("resistance", color=color.RED, line_width=2, title="Resistance")
@plot.line("support", color=color.GREEN, line_width=2, title="Support")
@plot.line("median", color=color.WHITE, line_width=1, title="Median")
class Main(MainContext):
    def calc(self, length):
        # Calculate support and resistance levels
        highest_high = Highest.new(self.high, length)[0]
        lowest_low = Lowest.new(self.low, length)[0]
        
        # Adjust levels
        resistance_level = highest_high
        support_level = lowest_low
        
        # Calculate median
        median_level = (resistance_level + support_level) / 2
        
        # Trend detection
        is_uptrend = self.close[0] > median_level and self.close[1] > median_level
        is_downtrend = self.close[0] < median_level and self.close[1] < median_level
        
        return resistance_level, support_level, median_level

Full Source Code (Pine v5)

//education purpose
//@version=5
indicator("Support, Resistance and Median with Trend", overlay=true)

// Parameters
length = input.int(22, title="Historical Length", options=[22, 44, 66])
projectionPeriods = 8 // Number of periods for projection

// Calculate support and resistance levels
highestHigh = ta.highest(high, length)
lowestLow = ta.lowest(low, length)

// Adjust levels based on sensitivity
resistanceLevel = highestHigh * 1
supportLevel = lowestLow * 1

// Calculate median
medianLevel = (resistanceLevel + supportLevel) / 2

// Trend detection
isUptrend = close > medianLevel and close[1] > medianLevel[1]
isDowntrend = close < medianLevel and close[1] < medianLevel[1]

// Plot support, resistance, and median levels for current periods
plot(resistanceLevel, title="Resistance", color=color.red, linewidth=2, style=plot.style_line)
plot(supportLevel, title="Support", color=color.green, linewidth=2, style=plot.style_line)
plot(medianLevel, title="Median", color=color.white, linewidth=1, style=plot.style_line)

// Trend box in top right corner
var table trendTable = table.new(position.top_right, 1, 1)
table.cell(trendTable, 0, 0, 
           isUptrend ? "Uptrend" : 
           isDowntrend ? "Downtrend" : "Neutral", 
           bgcolor=isUptrend ? color.green : 
                   isDowntrend ? color.red : color.gray)

// Create arrays to store projected values
var float[] resistanceArray = array.new_float(projectionPeriods, resistanceLevel)
var float[] supportArray = array.new_float(projectionPeriods, supportLevel)
var float[] medianArray = array.new_float(projectionPeriods, medianLevel)

// Update arrays with new values
for i = 0 to projectionPeriods - 1
    array.set(resistanceArray, i, resistanceLevel)
    array.set(supportArray, i, supportLevel)
    array.set(medianArray, i, medianLevel)

// Plot projections with lines to extend levels
for i = 0 to projectionPeriods - 1
    offset = i + 1
    if bar_index >= length - 1
        line.new(x1=bar_index, y1=array.get(resistanceArray, i),
                 x2=bar_index + offset, y2=array.get(resistanceArray, i),
                 color=color.red, width=2)
        line.new(x1=bar_index, y1=array.get(supportArray, i),
                 x2=bar_index + offset, y2=array.get(supportArray, i),
                 color=color.green, width=2)
        line.new(x1=bar_index, y1=array.get(medianArray, i),
                 x2=bar_index + offset, y2=array.get(medianArray, i),
                 color=color.white, width=1)

License

MIT License