Minor Medium Major Swing Channel and SR Levels

This Indicator breaks down the movement into 3 waves:

• The primary wave suitable for long-term trading
• The intermediate wave suitable for intraday trading
• The minor wave for short-term trading

Supports and resistances:

Each wave is defined by major highs and minor lows. According to Dow's theory, an uptrend will be defined by minor lows higher and higher and a downtrend by major highs lower and lower.The indicator plots the next supports and resistances for each wave.

Trend channels (primary wave):

The indicator draw two trend channels for the underlying trend (primary wave):

• a long-term channel which represents the previous confirmed movement 
• a short-term channel for the movement being formed 

These channels are updated at each low or high of the primary or intermediate wave

Indicator configuration:

You can enable or disable the following elements individually, in the properties of the indicator:

• display of supports/resistances 
• display of the long-term trend channel 
• display of the short term trend channel