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• Archive: Tired of plotting support and resistance lines?
• The Support Resistance is a multi-timeframe indicator that auto-detects and plots supports and resistance lines in the chart with a very interesting twist: as price levels are tested over time and its importance raises, the lines become thicker and darker.Boost your technical analysis overnightDetect important price levels without browsing through chartsRecognize the relative strength of all price levels at a glanceSave up to half an hour of plotting lines for every tradeThe indicator displays the age of all price levelsThe indicator is non-repaintingPast and present price levels are collapsed by proximity and adjusted to the current market action.
• Lines are drawn where the action is and not necessarily at the peaks.Price levels get darker and wider as they get rejected over timeUnimportant price levels are cleared regularly to avoid noiseCustomizable timeframe selection and collapse factorIt implements email/sound/push alerts for breakoutsA brief introductionResistance and support lines are price levels which temporarily halt or reverse the continuous movement of the trend.
• When the trend is bearish, support lines are created where sellers are temporarily (or sometimes permanently) exhausted and cannot press the quote any lower.
• Conversely, during a bullish trend, the price level where buyers are checked is called a resistance line.How are support and resistance levels created?When a dealer enters a buy order, the broker has the order filled by executing as many offers as possible until the amount the customer desires is reached.