Support and Resistance lines by PeterOAs all seasoned traders know, there's no better trading tactics than Price Action. Price Action understood not as some fancy candlestick formations, but as horizontal lines called Support and Resistance, generated by the market in the past - where the price reacted and reversed, showing which levels were strongly defended by traders around the world.
Price very often reverses again and again from these lines and once it finally breaks through them, very often returns for a retest before continuing its journey, very juicy for the trader. Support becomes Resistance and Resistance becomes Support - surely you have heard those rules before.
Support and Resistance lines are a map to the market. They are best entry spots out there. You might want to add more tools and techniques to your trading analysis, but truth is, moves will always start on some Support or Resistance line. Very often to the tick. People not seeing these lines trade blindfolded.
Difficulty is when it comes to removing those lines. You cannot hold them forever, as the chart would get completely blurred. So this script not only automaticaly draws lines, but also deletes those which become irrelevant. It also shows lines created by 4 tiers of pivot points, by default: 2 bars, 10 bars, 60 bars and 240 bars. So on one-minute chart it would present even 4h Support and Resistance levels, perfect for finding entries even for scalpers. All configurable.
I mostly trade Forex, but S/R rules are applicable to all markets out there.
This is invite-only script, PM me for access.
Resistances
Iconik Trading Suite: Auto Support/Resistance - DailyAutogeneration of support and resistance lines. Posts a horizontal line of the open/close for the past 40 daily candles.
DM for a PowerPoint describing this indicator and the rest of Iconik in detail.
Iconik Trading Suite Indicator List:
ITS-OSC: Oscillators (v2)
ITS-PAA: Price Action Alerts (v2)
ITS-ASR: Auto Support/Resistance
-> Daily (v2)
-> 3 Day (v2)
-> Weekly (v2)
ITS-4TFC: 4 Time Frame Confirmation (v1)
ITS-DIV: Divergence Seeker (v1)
[AN] OrderBlocksEases the find of possible support and resistance areas.
The Orderblock finder allows overlaying blocks from another timeframe
Customizable strength of previous move and extended info pane.
Support/Resistance Zones x3Support and Resistance Levels + Zones for 3 time frames, based on volume at fractal levels with Zones based on wick size which is a true reflection of a Zone when compared to other S/R Zone scripts which only use a thick line not based on anything.
Original script is thanks to synapticex I have just migrated to version 3, heavily modified it and added Support and Resistance Zones.
[IE] Multiple price indicators + SCALPERDetect divergences in price and RSI + pivot points (with alert option). Credits to @Libertus for this, I only reproduced it and after that he pointed me to his work.
Has ChartVamp and EricChoe MAs with prediction.
Displays Support and Resistance areas
Detects momentum changes.
Custom scalper with alert option.
DYNAMIC SUP/RESDynamic Support / Resistance Indicator.
Dynamic volume based support/resistance levels.
Plots also4 EMA and 2 SMA.
Best used for scalping ranging price but can also help find trade entries for trending market.
White area represents current range. Red lines are Stop Loss levels based on range and Risk to Reward ratio which you can change in settings.
Trade Safe and DYOR!
DYNAMIC SUP/RES 1.0Dynamic Support / Resistance Indicator. Good for scalping ranging price action and detecting breakouts.
White area represents current range. Red lines are Stop Loss levels based on range and Risk to Reward ratio of choice.
Free to use for Cryptosurge discord members: discord.gg
Trade safe and DYOR.
