Great MTF SR indicator! Can you make the SR lines infinite? I use it to see if it coincide with the SupportResistance indi, the one i was asking for alerts. U can check out this thread https://www.forexfactory.com/showthread.php?t=713593 where they use the SR indicator trying to make a good EA. I see they abandoned the EA idea for now but are still using it for alerts. The point of that strategy is to see if a resistance was hit, then when price comes back and meets some criteria, like an oscilator, MA, news are in line, an alert is given to sell.
They use it for D1 charts, but i’ve been somehow succesfull on M5 chart with H4 SR lines.
Also, on your indi, if i put False on display_period_1 (2,3,4), it still shows. Can you fix that?
Maybe if you want to develop this indi further u can add MTF fibo lines. Some ppl call this fibbo marriage, a place where 2 or more fibo lines coincide and a SR line line is also there, making the SR more in to take into consideration. For example, have a resistance line called D1 resistance line 50 monthly fibo line on the same line.
I use the EA on that thread on M5 chart with H4, D1, W1 SR and with your indi also set to H4, D1, W1 TF.
That EA is multi pair scanner and only need 2 charts open, the one with the EA for alerts and another one where i check if alert is good.
1st screenshort = me on M15 chart showng a D1 resistance and a 50 monthly fibo being hit and price bounced back
2nd screenshot = H4 chart showing how an older D1 support can become a D1 resistance. Is the same line from M15 chart.