RTS Mach lines
When,we talk about support and resistance line in fact talk about one of very important objects on all market , base of this indicator is good looking to activity of support Resistance ,Close and logically relative between them ,
First of all I explain base of calculate support resistance:
After a candle close, we have several support and resistance depend on High, Low, close and open on calculate so!
In our indicator every candle have 5 line (Usually base is default up trend for sup & Res)
2 support (L4 & L3)
, 2 Resistance (H3, H4)
And One Pivot
every time have itself line ( H4 ,H3 , Pivot , L3 ,L4 ) and in many indictor usually user can see just sup and res belong itself time ,
RTS advantage! Show you all time at a glance in any chart free of exclusively a time chart s!
When close a Candle is in Upper pivot and H3 line
Means this candle close in Side way up, SWU = (trend is up but no strong and move is side way direction tendency up depend prior candle)
When close a Candle is in Upper H4, STU (trend is strong up and move up till price and close upper H4 depend prior candle)
When close a time place in below pivot and L3 line,
This candle close in Side way Down SWD = (trend is Down but no strong and move is side way direction tendency to down depend prior candle)
When close a time and Candle place Below L4 STD (trend is strong down till price and close below L4 depend prior candle)
When Close between L3 & H3 = (trend is Side way, move in direction depend prior candle)
In left upper corner chart all of this direction show with summarize word and separate colors.
In Corner of Right Upper chart Set close of all-time Series in two Row (on close series versions)
please keep in mind this indicator Designed on Chart event Calculated ! and may be have little delay on live ,
if you want work on real markets !