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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.
仅限邀请脚本
只有经作者批准的用户才能访问此脚本。您需要申请并获得使用权限。该权限通常在付款后授予。如需了解更多详情，请按照以下作者的说明操作，或直接联系CryptoTradesHub。
请注意，此私密的、仅限受邀者使用的脚本尚未经过脚本管理员的审核，并且不确定它是否符合网站规则。 除非您完全信任其作者并了解脚本的工作原理，否則TradingView不建议您付费或使用脚本。您还可以在我们的社区脚本中找到免费的开源替代方案。
作者的说明
See website for more details.
免责声明
这些信息和出版物并不意味着也不构成TradingView提供或认可的金融、投资、交易或其它类型的建议或背书。请在使用条款阅读更多信息。
仅限邀请脚本
只有经作者批准的用户才能访问此脚本。您需要申请并获得使用权限。该权限通常在付款后授予。如需了解更多详情，请按照以下作者的说明操作，或直接联系CryptoTradesHub。
请注意，此私密的、仅限受邀者使用的脚本尚未经过脚本管理员的审核，并且不确定它是否符合网站规则。 除非您完全信任其作者并了解脚本的工作原理，否則TradingView不建议您付费或使用脚本。您还可以在我们的社区脚本中找到免费的开源替代方案。
作者的说明
See website for more details.
免责声明
这些信息和出版物并不意味着也不构成TradingView提供或认可的金融、投资、交易或其它类型的建议或背书。请在使用条款阅读更多信息。