Resistancezones — Indicators and Strategies

Support Resistance Major/Minor [TradingFinder] Market Structure 🔵 Introduction Support and resistance levels are key concepts in technical analysis, serving as critical points where prices pause or reverse due to the interaction of supply and demand. These foundational elements in price action and classical technical analysis assist traders in understanding market behavior and making better trading decisions. Support levels are zones where demand is strong enough to prevent further price declines, while resistance levels act as barriers that hinder price increases. Support and resistance levels are divided into two main types: static and dynamic. Static levels are fixed horizontal lines on charts, formed based on historical price points, and are crucial due to repeated price reactions in these areas. Dynamic levels, on the other hand, move with market trends and are often identified using tools like moving averages and trendlines. These levels are particularly useful for analyzing dynamic trends and identifying potential reversal points in financial markets. The importance of support and resistance in technical analysis lies in their ability to pinpoint price reversal or continuation points. Professional traders use these levels to determine optimal entry and exit points and combine them with tools such as Fibonacci retracements or moving averages for precise strategies. Detailed analysis of price behavior at these levels provides insights into trend strength and the likelihood of price breaks or reversals. By understanding these concepts, technical analysts can forecast future price movements and optimize their trading decisions using tools such as indicators and price action. Support and resistance levels, as a cornerstone of technical analysis, form the foundation for many trading strategies. 🔵 How to Use The Static Support and Resistance Indicator is a vital tool for identifying significant price zones in financial markets. It automatically detects major and minor support and resistance levels in both short-term and long-term intervals, enabling traders to analyze price behavior accurately and develop optimal entry and exit strategies. 🟣 Major Long-Term Support and Resistance Major Long-Term Support : The lowest price points recorded over long-term intervals that prevent further declines. Major Long-Term Resistance : The highest price points in long-term intervals that limit further price increases. 🟣 Minor Long-Term Support and Resistance Minor Long-Term Support : Temporary halts in price decline within a downtrend over long-term intervals. Minor Long-Term Resistance : Short-term zones within long-term intervals where prices react negatively in an uptrend. 🟣 Major Short-Term Support and Resistance Major Short-Term Support : The lowest price points in short-term intervals that act as barriers against sharp price drops. Major Short-Term Resistance : The highest points in short-term intervals that prevent further price surges. 🟣 Minor Short-Term Support and Resistance Minor Short-Term Support : Temporary halts in price decline within short-term downtrends. Minor Short-Term Resistance : Zones where price reacts quickly and reverses in short-term uptrends. 🔵 Settings Long Term S&R Pivot Period : Defines the interval for identifying long-term support and resistance levels (default: 21). Short Term S&R Pivot Period : Defines the interval for identifying short-term support and resistance levels (default: 5). 🟣 Long-Term Lines Major Line Display : Enable/disable major long-term lines. Minor Line Display : Enable/disable minor long-term lines. Major Line Colors : Green for support, red for resistance (long-term major levels). Minor Line Colors : Light green for support, light red for resistance (long-term minor levels). Major Line Style : Choose between solid, dotted, or dashed lines for major long-term levels. Minor Line Style : Choose between solid, dotted, or dashed lines for minor long-term levels. Major Line Width : Adjust the thickness of major long-term lines. Minor Line Width : Adjust the thickness of minor long-term lines. 🟣 Short-Term Lines Major Line Display : Enable/disable major short-term lines. Minor Line Display : Enable/disable minor short-term lines. Major Line Colors : Gray-green for support, gray-red for resistance (short-term major levels). Minor Line Colors : Dark green for support, dark red for resistance (short-term minor levels). Major Line Style : Choose between solid, dotted, or dashed lines for major short-term levels. Minor Line Style : Choose between solid, dotted, or dashed lines for minor short-term levels. Major Line Width : Adjust the thickness of major short-term lines. Minor Line Width : Adjust the thickness of minor short-term lines. 🔵 Conclusion Static support and resistance levels are among the most critical tools in technical analysis, helping traders identify key reversal or continuation points. This indicator simplifies and enhances the analysis process by automatically detecting major and minor levels in both short-term and long-term intervals. It allows traders to customize settings to suit their trading strategies and analyze different market levels effectively. Using this indicator improves price action analysis, enhances market understanding, and identifies trading opportunities. Applicable to all trading styles, from day trading to long-term investing, it is an essential tool for technical analysis. Combining this indicator with other tools like trendlines, Fibonacci retracements, and moving averages enables comprehensive analysis and allows traders to navigate financial markets with greater confidence.

Volume Weighted Reversal Bands This is a vwap & vwma hybrid with upper & lower deviation bands that provide excellent price channels and reversal areas. It can be used on lower & higher timeframes, just increase the deviation % for higher timeframes. Try out the 1 minute timeframe with .5% deviation for great scalping levels. Here is the calculation used for the main line. (VWMA100 + VWMA500 + VWMA1000 + VWAP) / 4 So it combines 3 VWMAs with the VWAP and divides that number by 4 to give us a moving average. Then we add new levels above and below that moving average to get our channels. The channels are separated by the % deviation you choose in the settings. For tighter bands, lower the percentage deviation and for wider bands, increase the percentage deviation. The fattest line in the middle is the main moving average and you can expect price to regularly return to this level. The thick lines are the main moving average plus or minus the percentage deviation you have set. There are 10 levels in each direction from the main moving average. The is also a thin short term moving average as well with a custom calculation. It takes 4 different length moving averages that are weighted and 4 more that are volume weighted and divides the total by 8.The lines will be green when price is above the line and red when price is below the line. The thin white line is the VWAP on its own. These lines will act as dynamic support and resistance so you can scalp them back and forth. These levels work so well because they are volume weighted and the algos hedge their positions back and forth constantly. For best results, use this indicator on tickers with the highest volume and trading action as the price will stick to these levels better when the big money players are hedging. Some great tickers for this indicator are APPL, SPY, BTC, ETH. All colors and linewidths can be customized in the settings easily as well as turning off the VWAP or short moving average and adjusting the percentage deviation for the channels. ***MARKETS*** This indicator can be used on all markets, including stocks, crypto, futures and forex. ***TIMEFRAMES*** This indicator can be used on all timeframes. ***TIPS*** Try using numerous indicators of ours on your chart for extra confirmation. Our favorites to pair with these bands are the Scalper Ribbon and Trend Friend Signals. The 3 combined give you a lot of extra confirmation on whether the market is going to reverse at these levels.

Auto Support & Resistance With Wick Signals & Percentage Gaps This auto support and resistance indicator uses percentage deviations from the previous session close to calculate levels. It provides arrows as signals when it detects 2 wicks in the last 5 bars from a support or resistance level. Includes alerts for price crossing any level as well as real time percentage gaps from current price to the next closest support and resistance level. You also have the option to set up to 3 major levels of your own for any levels that are very important on longer timeframes that you want included. Those will show on the chart as well as within your percentage gap table with color coded background. All features can be customized or turned off to suit your preferences. SOURCE This indicator uses the previous session close as a source by default but can be adjusted to use the previous session high or the previous session low. I find the close setting to provide the most accurate levels. SESSION The default setting for the previous session used is the daily session but can be adjusted to use the daily, weekly, monthly, quarterly or yearly session. Use longer sessions when looking at longer time frame charts. SIGNALS The signals by default are set to only show an arrow if there have been 2 bullish or bearish wicks off of a support or resistance level in the last 5 bars. This can be changed to one bullish wick off of support and one bearish wick off of resistance or it can be set to give a signal anytime a bar crosses a support or resistance level. This can be controlled in the indicator settings. PERCENTAGE DEVIATION LEVELS The default percentage deviation is set to 1% but can and should be adjusted according to whatever ticker you are using. For example use .25% or .5% when looking at forex intraday charts since they are not as volatile as other markets. For leveraged etfs used 1% multiplied by the leverage on the etf, so for SQQQ use 3% as it is a 3x leveraged etf. When looking at longer timeframes or highly volatile charts, set the percentage deviation to 2%, 5%, 10%, etc. LINE COLORS The color of the lines will change from red to green depending on if the price is above or below that level. You can customize these colors in the settings. MAJOR LEVELS If you have major levels of support and resistance from longer timeframes and your own charting, you can add up to 3 major levels that will show on the chart as well as show the percentage gaps in the table. The label for each major level will be colored to match the color of the line on the chart individually. PERCENTAGE GAP TABLE The gap table will update live with percentages to go from current price to the next closest support and resistance levels so you don’t have to calculate them manually. The position of the percentage gap table can also be changed within the indicator settings. TURN FEATURES ON/OFF There are 3 toggle switches so you can easily turn on or off certain features such as: the support and resistance lines, the percentage gaps table and the arrow signals. LINE WIDTHS You can also set the line width of all levels and the line width of the starting level within the indicator settings. ***MARKETS*** This indicator can be used as a signal on all markets, including stocks, crypto, futures and forex. ***TIMEFRAMES*** This automatic support and resistance indicator can be used on all timeframes as long as there is enough data for the session used. ***TIPS*** Try using numerous indicators of ours on your chart so you can instantly see the bullish or bearish trend of multiple indicators in real time without having to analyze the data. Some of our favorites are our Volume Spike Scanner, Volume Profile, Momentum and Trend Friend in combination with this auto support and resistance indicator. They all have real time Bullish and Bearish labels as well so you can immediately understand each indicator's trend.

Support Resistance Interactive Hello All, Using this "Support Resistance Interactive" script you can set the Support/Resistance levels interactively by clicking on the chart. Using the SR levels you set, the indicator creates Support Resistance zones. The width of the zones are calculated by using Threshold option and Threshold is the percent of the distance between Highest/Lowest levels in last 300 bars. if you set Threshold = 1 then it means 1% of the distance between Highest/Lowest levels. You can change SR levels by moving the level up/down by using your mouse anytime you want. Now lets see it step by step; After you added the indicator it will ask 5 Support/Resistance Levels and when you click any point then it's kept as S/R level and it asks another SR levels. if you want to use only 3 SR levels then last 2 SR levels are not important and you can click anywhere on the chart; After you set all SR levels, it will ask "Number of Support/Resistance" . if you want to activate first 3 SR lines then set it 3. by default it's 5. when you set it click "Apply" and see the SR zones. that's it. You can enable/disable alerts and set frequency, then create alerts. as it's interactive tool, the SR levels you set are specific for the current/active symbol. if you open another symbol then you better delete the indicator and add it again Three Alerts exist in the script: Support Broken, Resistance Broken and Price in SR zone . you can enable/disable the alerts as you wish and you can set frequency for each one as "Once Per Bar" or "Once Per Bar Close" by default Green/Red/Gray colors are used but You can change the colors using the options. according to the Price moves, SR zone colors are changed automatically. when we have "Reset" feature to run the script interactively (like we added it for first time) I can update the script, then you will not need to delete/re-add each time you changed the symbol :) In this example "Threshold" is 2 and "Number of Support/Resistance" is 4. in this example "Threshold" is 0 and "Number of Support/Resistance" is 5. Last example; Labels are shown for each zone, you can set location of the labels. SR order and Upper/lower band of each zone are shown in each label. Enjoy!

Support Resistance Channels Hello All, For Long time I was planning to make Support/Resistance Channels script, finally I had time and here it is. How this script works? - it finds and keeps Pivot Points - when it found a new Pivot Point it clears older S/R channels then; - for each pivot point it searches all pivot points in its own channel with dynamic width - while creating the S/R channel it calculates its strength - then sorts all S/R channels by strength - it shows the strongest S/R channels, before doing this it checks old location in the list and adjust them for better visibility - if any S/R channel was broken on last move then it gives alert and put shape below/above the candle - The colors of the S/R channels are adjusted automatically You can set/change following settings: - Pivot Period - Source : High/Low or Close/Open can be used - Maximum Channel Width %: this is the maximum channel width rate, this is calculated using Highest/Lowest levels in last 300 bars - Number of S/R to show : this is the number of Strongest S/R to show - Loopback Period: While calculating S/R levels it checks Pivot Points in LoopBack Period - Show S/R on last # Bars: To see S/R levels only on last N bars - Start Date: the script starts calculating Pivot Point from this date, the reason I put this option is for visuality. Explained below - You can set colors/transparency - and You can enable/disable shapes for broken S/R levels Examples: You can change colors as you wish: here " Show S/R on last # Bars " set 100: Sometimes visuality may corrupt because of old S/R levels, to solve it you need to set "Start Date" in the options to start the script in visual part (last 292 bars) here in first screenshot it doesn't look good (shrink), then on second screenshot I set the "Start Date" it looks better, if you change time frame don't forget to set it again :) Enjoy!