What is Volume-weighted S/R?
Volume-weighted S/R draws support and resistance as lines rather than boxes. Each line's thickness shows how much volume traded at that level, so a thick line is a high-traffic level and a thin one a light one, readable without labels.
It is the lightweight sibling of Supply & Demand Zones and uses the same level finding and volume counting. Levels price is above are coloured as support, levels price is below as resistance, and a level that has held from both sides as flipped.
This is a closed-source premium script. It runs on Altrady's servers, so only its output reaches your chart and its code is not published.
How to use Volume-weighted S/R
- Thick lines. Levels where a lot of volume traded. Traders expect these to matter most when price returns.
- Thin lines. Levels price turned at with little volume behind them, which may give way more easily.
- Flipped levels. A level that has worked as both support and resistance, coloured on its own.
- Price crossing a line. A close across a level is a test, and the alert lets you watch how price behaves there.
Settings
Swings
| Setting | Default | Range | What it changes |
|---|---|---|---|
| Timeframe | Chart | Chart, 15m, 30m, 1h, 4h, 1D | Read levels from a higher timeframe. |
| Swing Length | 5 | 1 or more | Bars either side of a pivot. |
| Significance (ATR x) | 1 | 0 to 10 | Minimum leg size for a swing. |
Levels
| Setting | Default | Range | What it changes |
|---|---|---|---|
| Cluster Within (ATR x) | 0.5 | 0.01 to 5 | How close swings must be to form one level. |
| Min Touches | 2 | 1 to 20 | Touches before a level is drawn. |
| Max Levels | 8 | 1 to 50 | How many levels stay on the chart. |
Volume
| Setting | Default | Range | What it changes |
|---|---|---|---|
| Volume Lookback | 200 | 10 to 1000 | How many bars of volume to scan for weighting. |
Display
| Setting | Default | Range | What it changes |
|---|---|---|---|
| Min Width | 1 | 1 to 10 | Line width for the lightest-volume level. |
| Max Width | 5 | 1 to 10 | Line width for the heaviest-volume level. |
| Show State Pane | Off | A sub-pane counting drawn levels. |
Colours
| Setting | Default | Range | What it changes |
|---|---|---|---|
| Support | #089981 | A level price is above. | |
| Resistance | #f23645 | A level price is below. | |
| Flipped | #ff9800 | A level that has held from both directions. |
Alerts: level_test.
How it works
Swings are clustered into levels the same way as the suite's zone tools. A swing joins a level when it lies within a set multiple of the average true range of its centre, and a level is drawn once it has Min Touches, two by default. Up to eight levels are kept.
Over the Volume Lookback, 200 bars by default, the script adds up the volume traded around each level. The lightest level is drawn at Min Width and the heaviest at Max Width, with the rest in between.
The level_test alert fires when a bar closes across a level's line.
Limitations
- Width is relative. Thickness compares the levels on the chart with each other. The heaviest level is always the thickest, even on a quiet chart.
- Confirmation lag. Levels are built from confirmed swings, so a level gains a touch Swing Length bars after the swing happened.
- Volume can come from before the level. A long lookback can count volume traded at a price before the level formed there.
- Volume is per exchange. The volume is that of the market on your chart, which only covers trading on that exchange.
- Lines, not zones. A line marks the level's centre. Where price actually turned may be spread around it.
Get Volume-weighted S/R
Premium scripts are a one-time purchase in the Altrady marketplace and need a paid Altrady plan to run.
- Volume-weighted S/R $7 This script on its own.
- Volume Profile & Zones bundle $19 4 premium scripts, Volume-weighted S/R included.
- Altrady Complete Suite $109 All 36 premium scripts.
Frequently asked questions
Both use the same levels and volume counting. This script draws lines whose width shows volume, while Supply & Demand Zones draws boxes whose colour shows it.
How much volume traded at that level compared with the other levels on the chart. Min Width and Max Width set the thinnest and thickest line.
Yes. The Timeframe setting reads the swings from a higher timeframe while you trade a lower one.
One, level_test. It fires when a bar closes across one of the levels.
Yes. Volume-weighted S/R is a closed-source premium script. It runs on Altrady's servers, so only its output reaches your chart and the code is never shared. You buy it once in the Altrady marketplace, on its own, in the Volume Profile & Zones bundle or in the Altrady Complete Suite, and it needs a paid Altrady plan to run. It is also included with your first annual Premium subscription.
Use the Get it in Altrady button on this page to open its listing in the Altrady marketplace. Once it is in your account, open the indicator picker on any chart in Altrady Charts and add Volume-weighted S/R like any other indicator. Its settings are in the indicator's settings panel.