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Support and Resistance Indicator [CTH]
Support and Resistance Indicator: User Guide
Our Support and Resistance Indicator is a powerful tool designed to help traders identify key price levels where market movements are likely to reverse or stall. By highlighting unbroken support and resistance levels, it simplifies price action analysis and provides actionable insights for both new and experienced traders.
How the Indicator Works
Identifying Support and Resistance Levels
The indicator identifies pivot highs and lows to plot key support (green zones) and resistance (red zones) levels on the chart. It focuses on unmitigated levels, meaning that once a level is breached (mitigated), it is automatically removed from the chart to ensure clarity.
Price Reaction to Levels
Support (Green Zones): When the price approaches a support level, it suggests a potential upward bounce.
Resistance (Red Zones): When the price approaches a resistance level, it indicates a potential downward rejection.
Dynamic Updates
As new price action unfolds, the indicator updates to reflect the most relevant unbroken levels, helping traders focus on actionable areas of interest.
Key Features
Inputs for Customization
Sensitivity
Adjust the sensitivity to control how the indicator identifies swing lengths.
The value ranges from 0 (least sensitive) to 100 (most sensitive).
Default Setting: 50, which works effectively across most time frames.
Historical Zones to Show
Define how many previous support and resistance levels you wish to display on your chart.
This feature helps you focus only on levels within your desired price range, decluttering the chart for better analysis.
Visual Adjustments
Color Customization
Customize the colors of support and resistance zones to suit your charting preferences.
Default settings: Green for support, Red for resistance.
Opacity Control
Adjust the opacity of the zones to make them more or less prominent based on your visual preference.
Practical Tips
Fine-tune Sensitivity based on your trading style and the time frame you are analyzing. For shorter time frames, slightly higher sensitivity may help identify closer levels.
Use the Historical Zones setting to tailor the chart view to your trading horizon. Fewer levels may suit scalpers, while more levels might be helpful for swing traders.
Combine the indicator with other tools or strategies for enhanced decision-making. For instance, use it alongside volume analysis or candlestick patterns to confirm potential reversals.
Our Support and Resistance Indicator is a powerful tool designed to help traders identify key price levels where market movements are likely to reverse or stall. By highlighting unbroken support and resistance levels, it simplifies price action analysis and provides actionable insights for both new and experienced traders.
How the Indicator Works
Identifying Support and Resistance Levels
The indicator identifies pivot highs and lows to plot key support (green zones) and resistance (red zones) levels on the chart. It focuses on unmitigated levels, meaning that once a level is breached (mitigated), it is automatically removed from the chart to ensure clarity.
Price Reaction to Levels
Support (Green Zones): When the price approaches a support level, it suggests a potential upward bounce.
Resistance (Red Zones): When the price approaches a resistance level, it indicates a potential downward rejection.
Dynamic Updates
As new price action unfolds, the indicator updates to reflect the most relevant unbroken levels, helping traders focus on actionable areas of interest.
Key Features
Inputs for Customization
Sensitivity
Adjust the sensitivity to control how the indicator identifies swing lengths.
The value ranges from 0 (least sensitive) to 100 (most sensitive).
Default Setting: 50, which works effectively across most time frames.
Historical Zones to Show
Define how many previous support and resistance levels you wish to display on your chart.
This feature helps you focus only on levels within your desired price range, decluttering the chart for better analysis.
Visual Adjustments
Color Customization
Customize the colors of support and resistance zones to suit your charting preferences.
Default settings: Green for support, Red for resistance.
Opacity Control
Adjust the opacity of the zones to make them more or less prominent based on your visual preference.
Practical Tips
Fine-tune Sensitivity based on your trading style and the time frame you are analyzing. For shorter time frames, slightly higher sensitivity may help identify closer levels.
Use the Historical Zones setting to tailor the chart view to your trading horizon. Fewer levels may suit scalpers, while more levels might be helpful for swing traders.
Combine the indicator with other tools or strategies for enhanced decision-making. For instance, use it alongside volume analysis or candlestick patterns to confirm potential reversals.
僅限邀請腳本
只有經作者批准的使用者才能訪問此腳本。您需要申請並獲得使用權限。該權限通常在付款後授予。如欲了解更多詳情，請依照以下作者的說明操作，或直接聯絡CryptoTradesHub。
請注意，此私人、僅限邀請的腳本尚未經過腳本管理員審核，其是否符合社群規範尚無定論。 除非您完全信任其作者並了解腳本的工作原理，否則TradingView不建議您付費或使用腳本。您也可以在我們的社群腳本中找到免費的開源替代方案。
作者的說明
See website for more details.
免責聲明
這些資訊和出版物並不意味著也不構成TradingView提供或認可的金融、投資、交易或其他類型的意見或建議。請在使用條款閱讀更多資訊。
僅限邀請腳本
只有經作者批准的使用者才能訪問此腳本。您需要申請並獲得使用權限。該權限通常在付款後授予。如欲了解更多詳情，請依照以下作者的說明操作，或直接聯絡CryptoTradesHub。
請注意，此私人、僅限邀請的腳本尚未經過腳本管理員審核，其是否符合社群規範尚無定論。 除非您完全信任其作者並了解腳本的工作原理，否則TradingView不建議您付費或使用腳本。您也可以在我們的社群腳本中找到免費的開源替代方案。
作者的說明
See website for more details.
免責聲明
這些資訊和出版物並不意味著也不構成TradingView提供或認可的金融、投資、交易或其他類型的意見或建議。請在使用條款閱讀更多資訊。