SR Levels Documentation
- Required Confirmations: Sets the minimum number of significant levels that need to occur within users preselected price range in order to draw a significant price level.
- Confirmation Test Range (Ticks): The test range in which the indicator will look for similar significant price levels. If set to 2 the indicator will look above and bellow by 2 ticks for other similar levels.
- Days Levels Are Saved For: How many days ago do you want to indicator to check for significant price levels. For example, if the user only wants to use price levels from that day, or from the day prior, or maybe they want to use the last 5 days. Current day is zero days ago.
- Only Display Top n Levels: Sometimes charts will have a large number of significant price levels occuring. It can cause the chart to get a little messy. You can choose to only display the top 10, 5, 2 levels (or any number).
- Required Seperation of Levels (Ticks): prevents two levels from forming right next to each other.
- Draw Level Touches: This will display the number of times a significant price level is hit.
- Ignore After Hours Data: The user can choose to ignore all data that comes in between certain hours. This is important for some time charts.
- Check to Use Z Score SR Levels: Utilizes z scores as a method for identifying significant price levels.
- Check to Use Dericative SR Levels: Utilizes derivatives as a method for identifying significant price levels.
- Check to Use Quadratic SR Levels: Utilizes quadratics as a method for identifying significant price levels.
- After Hours Start Hour: The last hour of regular trading hours / the start of after hours.
- After Hours Start Minute: The last minute within the last hour of regular trading hours / the start of after hours.
- After Hours End Hour: The first hour of regular trading hours / the end of after hours.
- After Hours End Minute: The first minute within the first hour of regular trading hours / the end of after hours.
- Line Colors: Change the line color.
- Line Style: Change the style of the line, for example dashes or solid.
- Line Width: Change the thickness of the lines.
- Standard Deviation Input Type: User can choose between SMA or RSI inputs.
- Lookback: The number of inputs/bars that will be used as inputs for standard deviation.
- Threshold: The minimum Z Score required to mark a significant price level.
- SMA Period: The period of SMA inputs, if user wants each individual bars close to be used then set SMA Period to 1. (only applicable if SMA input method is selected)
- RSI Smooth: Smoothing period for RSI input. (only applicable if RSI input method is selected)
- RSI Period: Period for RSI input. (only applicable if RSI input method is selected)
- SMA Period: Smooth for the derivative inputs. Removes noise.
- Price Hits Range (Bars): The indicator checks for where the most accurate significant price point is within a small range. If user selects 1, then it will look 1 bar forwards and backwards to dertermine the best price point.
- Reversal Strength: Required minimum reversal strength to qualify as a significant derivative price movement.
- SMA Period: Smooth for the quadratic inputs. Removes noise.
- Reversal Strength: The minimum reversal strenght required to mark as a quadratic significant price level.
- Reliability Factor: The minimum R^2 value required to mark as a quadritic significant price level.
Auto Strategy Compatibility Data:
See example strategy in code repository.
Levels: Are the top 10 significant price levels the indicator has found given the set parameters. If there are less than 10 levels then it will set the levels starting at 0 and leave the rest blank. These are exact prices of the levels.
LevelStrength: Are the corresponding number of significant price touches to each Level series.