MEET THE INDICATOR
The meaning behind the numbers.
Student Wyckoff Support / Resistance Strength builds a map of price levels from identified turning points. Nearby prices are grouped to calculate a common level and a relative strength score. The tool helps you identify areas of previous reactions more quickly and compare them across two timeframes, while keeping control over how much detail appears on the chart.
- Automatic levels from turning points
- Current and selected higher timeframes, separately or together
- Separate strength and line-count filters
- Display settings and alert conditions
From individual turns to a price area
The indicator finds local highs and lows by comparing a selected number of bars on the left and right. A turn becomes known with a delay: the bars on its right must first form. This identifies a completed section, but does not mean that the level was known on the earliest bar of the turn.
Nearby turning prices are grouped, and the group's level is calculated as the average of its prices. The allowed distance between them is set using ATR, the average range of price movement, or a percentage of price. A wider tolerance groups more neighboring points; a narrower one preserves separate areas.
What the strength percentage means
The score combines three components: the number of identified turning points in the group, the recency of the latest such point, and the level's proximity to the price-rounding grid used in the code. In the current model, their weights are 60%, 25% and 15%. The result is shown as a number from 0 to 100.
This is an internal rating, not a statistical probability that the level will hold. A higher score helps you compare areas using the same settings and data source. It does not guarantee a bounce or automatically account for every cause of price movement. Changing the analysis window, tolerance or timeframe can change both the groups and their scores.
Two timeframes and two sets of filters
You can display only the current chart's levels, only those of the selected higher timeframe, or both sets. Each has separate settings for the analysis window, minimum strength and maximum number of lines. Levels are ranked by their scores, so limiting the number retains the strongest levels that pass the filter.
The current default settings use an 800-bar window, a strength threshold of 40 and up to ten lines for the main chart; the selected higher timeframe uses a 500-bar window, a threshold of 60 and up to five lines. These parameters can be changed. Check that the interval selected in the menu matches the scale you need: calling it higher does not select the timeframe for you.
How to read lines and touch notifications
An area below the current price can be considered possible support, and an area above it possible resistance. The score reflects the identified history; price itself confirms the area's subsequent role through a reaction, a move through the area, or holding after that move. The line represents the group's common level, so it should not be read as a promise of a reaction at exactly one minimum price increment.
Two alert approaches are available: the bar's range includes the level, or the closing price crosses it. The first records that the level lies within the bar's range, not necessarily that price moved from one side to the other. Conditions for the current and selected higher timeframes are separate. Alerts are created separately in TradingView; you can choose the frequency of an additional built-in notification, including at the bar close.
Adjust readability and account for updates
Each set has separate controls for line color, thickness, style and length, as well as label placement. Labels can show the strength percentage, price with the percentage, or price alone. Unwanted labels can be hidden, and different colors and styles help distinguish the two timeframes.
The map is recalculated as new turns appear and old points leave the window. Data from the selected higher timeframe can also develop until that timeframe closes. This version should therefore not be treated as fixed markings or a map known in advance. Start with a moderate number of lines, then add detail for your chosen analysis scale.
What you receive
Access to the indicator in your TradingView account for your chosen subscription period, calculation and display settings, and email support. Source code is not included in the subscription. You need your own TradingView account; any TradingView features or paid plan required for your chosen way of working are paid for separately.
This is a custom STUDENT WYCKOFF model. The strength percentage is a calculated score for the selected dataset, not a probability of a reversal, a level holding, or a successful trade.
