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Lines Resistance and Support

The indicator displays the resistance/support levels based on the history data of price action. It requires a depth of history to calculate the levels.

The tool has been developed using an original proprietary technique.

The resistance and support levels indicate the accumulations of orders.

Indicator Parameters

  • Start Data/Time - initial date/time of the history data for calculation of levels
  • Width of Lines Resistance/Support in Points - thickness (density) of lines in points, it is recommended to set a value commensurate to the spread
  • Coefficient of number of lines, 0.5-2.0 - coefficient of the number of lines. Set a lower value if there are too many lines. Increase it, if there are too few lines.
  • Color Resistance Line - color of resistance lines
  • Color Support Line - color of support lines
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Version 1.1 2017.08.02
Added the ability to view resistance/support lines with a lower (almost any) amount of quotes.