What are the Best Settings?
There really aren’t any best settings, but there are some settings that may reduce some of the indicator crowding on your charts. I personally like my chart to not look overly messy.
Unfortunately, due to some limitations of the current Tradingview coding language, we added these variable settings to compensate for their coding issues.
The settings you chose will offer a positive and a negative to your chart. For example: if you reduce your levels shown, you may not see a level you’d otherwise be interested in. If you increase the number of levels displayed, you may become overwhelmed. This is why I suggest you tinker with your own settings.
My Personal Settings
I typically use the following settings, but I do change them frequently, depending on what I would like to have displayed. You should also remember, that what is displayed on the chart is essentially what I see naturally in my mind, without an indicator.
If I have “display: last gained, last lost” enabled, I typically use these settings:
Note: I will change the relevance factor depending on what the chart currently looks like. A relevance Factor of 2-3 will usually be appropriate for most situations. You may need to significantly increase it if you wish to display a level hidden away on the far left of a chart.
I will often leave color filtering disabled. Doing this will show more trends/levels, but there are situations on lower timeframes where I will enable it.