Jigga - Support Resistance Lines

Hello Investors !!

This study will help many friends who are new to market and facing issue while drawing support and resistance trend line .

I have used inbuilt function PivotHigh and PivotLow to find high and low points for a stock. These points are used then to find support and resistance.

Resistance = Lower Pivot High
Support = Higher Pivot Low

Additionally,
1) plotted exponential moving average which you can change based on your requirement.
2) * will show volume spike => volume > highest volume of given period


How to use this study:
1) short term investor: can buy when price is around support line and sell around resistance line.
2) long term investor: can buy near support or breakout of resistance and sell based on swing high low.


Please note: Lines will be drawn only if change in pivot points . You may not see lines for bigger trend unless there is change.

Note: My previous indicator was removed by Trading view due to unintentional House rules violation. I do respect their decision.

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New version update
1) Added bar colour calculation
Bar colour will be changed only if High or low is changed compared to 3 days high and low. You can remove bar colour calculation from setting option.
2) Added EMA band
EMA Band = FILL(EMA,EMA of PIVOT_Support)

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Updated to @version=5

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Added new feature
1) Vertical lines to show range where stock shows strength against Nifty index
Removed feature
2) removed moving average cloud and volume spike

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Added Price level at time of earnings.
Inspired from Earnings S/R Levels

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Note: Hide earning lines and displayed on circle.

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Changed code completely !