S/R Levels with Breaks: Automated Market Structure
The Concept: A sophisticated script that identifies and draws historical support and resistance zones while highlighting when a “Breakout” or “Retest” occurs.
Strategic Advantage: It removes the human error and bias of drawing lines manually, giving you objective levels where the price is likely to react.
The Survival Rule: A “Break” signal is strongest when accompanied by high volume. Don’t chase a break that happens with low market participation.
Link: LuxAlgo S/R Levels