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KFX Support and Resistance modified

The indicator will help you find support and resistance levels, increase the number of confirmations for stronger levels.

This is not a multi-timeframe indicator that refers to the information from other timeframes.

But it allows to show strong levels of support and resistance where the price respects a mark two or more times.

How to trade:

  • For smaller timeframes up to M30 I recommend at least 3 confirmations. This filters stronger levels with subsequent strong movements.
  • For larger timeframes of H1 I recommend 2 confirmations. In these timeframes, subsequent strong movements are often seen after 2 confirmations.


Parameters

  • range - range is a lookback window, number of bars. within those 10 bars must be at least 3 with low below the level, high above the level and close below the level.
  • confirmations - number of confirmations
  • res line color - adjustable color for the resistance line
  • sup line color - adjustable colcor for the support line
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Marcel Kirchhof
5 (1)
The KFX Bulls and Bears indicator consolidates the Bulls and Bears Power sample indicators in one indicator. This indicator is a modification of a known Bulls/Bears power indicator by Elder. It measures distance between extreme price and moving averages. Parameters Source - choose between Close, Open, High, Low, Median, Typical or Weighted Price. Periods - period for calculating the moving averages. MA Type - Select between Simple, Exponential, Smoothed or Linear Weighted. Verbose - Allows the
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