Strong Retracement Points
SRP (Strong Retracement/Reversal Points) is a powerful and unique support and resistance indicator.
It displays the closest important levels which we expect the price retracement/reversal!
If all level are broken from one side, it recalculates and draws new support and resistance levels, so the levels might be valid for several days depending on the market!
- You can use it in all time-frames smaller than daily!
- Displays closest significant support and resistance levels
- Update the levels if all levels are clearly broken
- The levels are time independent means that these levels are valid in all time-frames which make this indicator very unique!
- It can be very helpful as a complementary tool for your own trading system to adjust the stop-loss or take-profit, and can also be a helpful stand-alone tool for scalpers!
• So unless all the levels are broken from one side the levels are valid and will not be updated.
• If you want to update them manually (before all the levels are broken) you should close the chart and load the indicator again.