Market stalker is an indicator for auto plotting support and resistance lines. It sends an alert if the price comes close to a support or to a resistance line.
With this indicator, you don't have to watch your charts all the time, you just wait for an alert. When an alert appears, you check the chart and decide to trade or not to trade according to your entry strategy. I recommend both style breakouts and bounces.
- DaysHistory—Number of past days with displayed supports and resistances.
- BarsLeft—Number of closed candles on the left side from the high or the low.
- BarsRight—Number of closed candles on the right side from the high or the low.
- MinSwing—Minimum size of swing.
- MaxBarsCheck—Maximum length of supports and resistances.
- SrMainTF—Timeframe for supports and resistances.
- SrBreakTF—Timeframe for completion of plotting supports and resistances. Level stops plotting when a candle closes below support and later closes above that level. The same applies for resistances.
- SRbreakMin—Tolerance for re-closing of a candle above/below supports and resistances.
- AlertDistance—Distance from supports and resistances for alerts.