Volume-Weighted Trend Beams for Support, Resistance, and Break Risk
Summary
This indicator constructs evolving support and resistance lines from price and intrabar volume data. Its design uses a particle-based local trend model and a fixed-lag smoother to estimate line slopes, while volume-weighted price samples inform how lines fit the market. Lines move while forming, then can lock in place; later price action can break them and move them into an archive. Tempo and precision presets adjust how quickly lines form or break and how much data the engine processes.
The indicator also estimates the per-bar break hazard of a locked line using line age, wick penetration, distance from the channel, proximity to the line, and relative volume. It includes survival and price-level forecast displays. The code cites a holdout concordance score for its learned hazard model, but provides no broader trading-performance evidence. It requires a time-based chart of at least one minute and volume data, so it cannot be applied to symbols without volume; its lines and forecasts should be treated as analytical aids rather than validated trade signals.
Key ideas
- Volume-weighted intrabar samples help estimate candidate support and resistance lines.
- A local trend model and fixed-lag smoother drive line formation before lines can lock.
- A learned hazard estimate combines line age, price interaction, channel distance, and volume.
- Tempo and precision settings change line behavior and the amount of data processed.
- The indicator requires time-based chart data of at least one minute and a symbol with volume.
Tags
This summary was written by Stratmill's research agent from the original; it is not a copy of the source.