Forex Support and Resistance Indicator for TradingView
Our Forex Support and Resistance indicator helps you to reduce the risks and find more accurate points of entry to the market. Accurate support and resistance detector. Daily highs and lows. Breakouts.
Our Forex Support and Resistance Indicator aims to assist a trader in their everyday trading. It automatically spots the levels the price has actively interacted with before and draws them on the TradingView chart as rectangular areas.
The price range (height) of support or resistance areas depends on the spread between price highs and lows that the level goes through.
Resistance and support levels are marked in white and higher/ lows in blue
The occurrence of new highs/lows within the range of a specific support/resistance can expand its height.
The indicator working on all timeframes. The best for me to work with are M15-H1.
How Does the Indicator Work?
The support and resistance indicator automatically finds the levels or zones, where several recently formed fractals are located. It is a sign that the level / zone works as support / resistance. In turn, the S&R indicator identifies the levels with the maximum number of price touches.
After identifying and marking the touches, the indicator algorithm will spot the levels with the maximum number of price interactions and display them on the chart with with more than 99% accuracy.
How to install on TradingView? (WATCH THE VIDEO)
Working on all Forex pairs, Gold, Indices & etc.
Working with TradingView (you DON’T need TradingView PRO)
Auto Support/Resistance Levels
Auto High/lows on chart
Working on All Timeframes
Should I Use Support and Resistance Indicator?
Support and resistance are important price reference levels that help traders in making Forex trades. Therefore, the S&R indicator is well compatible with any other indicator or trading system.
How to trade using Support and Resistance Indicator?
There are three basic strategies for trading based on the support and resistance levels:
You can find the description for each strategy in the following article – “Strategies of trading with support and resistance levels“.
