Support and Resistance
This powerful tool is designed to identify key price levels in the market, providing traders with a clear visual representation of potential support and resistance areas. It goes beyond simple level identification by incorporating a ranking system and adjustable sensitivity.
How to use
This support and resistance tool helps traders identify key price levels where the market might react. It highlights important zones where price could reverse, pause, or break through, making it easier to spot potential trading opportunities.
Reversal Points: It marks areas where price might change direction, ideal for setting entry and exit points.
Breakouts: When price moves beyond a major level, it may signal a strong move, helping you catch breakouts.
Settings
This support and resistance tool has customizable settings that allow you to fine-tune how levels are displayed on the chart:
Enable S/R
Turns the support and resistance indicator on or off.
Sensitivity
Controls how many levels are displayed. Higher sensitivity will show more levels, which can be useful in volatile markets or on shorter timeframes, while lower sensitivity focuses on the strongest levels.
Strength
Adjusts the strength of levels based on past price reactions. Higher values highlight more established, stronger levels, while lower values allow weaker levels to be shown.
Level Buffer
Label
Adds a small buffer around each level, creating a "zone" instead of a single line.
Toggles on/off price labels for each level
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