Share
Presenting AlgoBot Malaysian SNR, the quintessential support and resistance tool on TradingView tailored for traders who utilize Malaysian methodology in their technical analysis. This indicator is designed to identify significant support and resistance levels precisely, offering a clearer roadmap for entry and exit points with narrow stop-loss and potential big Risk-to-Reward ratio.
Key Features
Multi-Timeframe Analysis:
Choose the desired higher timeframe for identifying Malaysian Support and Resistance levels. The most commonly used timeframes are 1D and 4H, but you can also use weekly or 1H – the indicator supports them all.
Historical Depth:
With ‘HTF Bars lookback’, delve into historical price action to uncover key levels, with an adjustable range for a comprehensive or focused analysis.
Fresh Level Insights:
Opt for ‘Show Fresh levels only’ to concentrate on untested support and resistance lines with the most potential for significant price reactions.
Gap Level Display:
Activate ‘Display Gap levels’ (light purple) to track crucial gap areas, which can offer additional insights into market sentiment and potential reversal zones.
Concentrated Level View:
Adjust the ‘Levels Above/Below Price’ to filter and focus on the most pertinent support and resistance levels surrounding current price action.
Timeframe Specificity:
Set a limit for the lowest timeframe on which levels will be displayed, avoiding clutter on your chart with the ‘Do not show below’ feature.
Visual Customization:
Personalize your chart with ‘A & V Level color’, ‘Gap Level color’, and ‘Line width’, enhancing the visual distinction between different types of levels.
Informative Labels:
Enable ‘Show MSNR Timeframe Labels’ and ‘Add level price to the Label’ for detailed and immediate reference points on the chart.
Alert System with Sensitivity Adjustment:
Utilize the ‘Alert on Fresh level touch’ to receive notifications when the price touches a fresh level, keeping you abreast of critical market movements. Fine-tune the ‘MSNR level margin in +/- ticks’ to set the exactness of alerts and level recognition according to your preference to get notification when the price approaches the MSNR level.
Candle Separator:
With ‘Show HTF candles separator’, visually distinguish the first candle of the new higher time frame candlesticks corresponding to your selected MSNR timeframe for better structural analysis.
AlgoBot Malaysian SNR isn’t just another support and resistance indicator; it’s a comprehensive system that provides clarity on price levels that matter. By integrating this tool into your TradingView, you’ll enhance your ability to make strategic decisions based on well-defined and visually compelling chart information and precise levels.
AlgoBot Malaysian SNR Key Features Summary:
- Multi-timeframe functionality: trade on 1m chart MSNR levels from daily or 4H
- Define the lookback period to search for MSNR levels – analyze the recent price action or incorporate history levels.
- Show only Fresh levels to focus on the most important levels.
- Mark Gap levels that are often as efficient as the A and V-shape levels.
- Levels and labels are customizable to meet your chart style.
- A sophisticated alert system with an optional margin will inform you about any Fresh level touched by price. Don’t miss any opportunity even if the price reversed one tick before the level.
