ChartistArea Support Resistance

This indicator will draw Support Resistance based on previous high/low on higher timeframe based ZigZag. You will need to have ZigZag indicator.

Parameter Explanation

• Resistance Name: Resistance level line name prefix, can be useful for Fxpod Smart Tools, the tools will automatically recognize the line and take action based on the analysis.
• Resistance Upper: Upper level above Resistance in ATR. The indicator will draw a line above calculated Resistance Level. If the value is 5, the line will be placed 5 ATR above resistance.
• Resistance Lower: Lower level below Resistance in ATR. The indicator will draw a line below calculated Resistance Level. If the value is -0.5, the line will be placed 0.5 ATR below resistance.
• Support Name: Support level line name prefix, can be useful for Fxpod Smart Tools, the tools will automatically recognize the line and take action based on the analysis.
• Support Upper: Upper level above Support in ATR. The indicator will draw a line above calculated Support Level. If the value is 0.5, the line will be placed 0.5 ATR above support.
• Support Lower: Lower level above Support in ATR. The indicator will draw a line below calculated Support Level.  If the value is -5 mean the line will be placed 5 ATR below support.
• Previous High Low Index: Default value is 1, which means it will draw Support/Resistance from the previous High/Low price. If the value is 2, it will draw Support/Resistance from previous previous high/low
• Timeframe: Specific timeframe for calculation.