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Auto Dynamic Levels

The indicator plots support and resistance levels with consideration of the movement preceding the level formation.

A strong movement is formed by positions that are in the same direction at the same time. After the movement fades, open positions may be left. When the price approaches this level, a breakout or a rebound may occur. Also, the price approaching the level may not be enough to break the level on its own, as the traders with positions open during such a movement may want to close the positions or to reverse them.

Horizontal lines show the levels that have not been broken (by the Close price). Levels broken by the price (Close price) are removed and marked by a "cross" mark. But even a broken level, especially their congestion, may also provide support or resistance for the price.

The indicator performs calculations after a candle closes.

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