This tool can be used for Analysis , of Identifying SUPPORT and Resistance based in FIBONACCI Calculation . The default Pivots points provides with brokers only show 3 levels of support and resistance . But this tool includes 6 levels of resistance and support .Along with CPR .
I have customized this tool to work NSE bank nifty index, and have includes a floating panel to display . RSI values of top 5 stock.
PLEASE USE THIS TOOL IN ADDITION TO YOUR SETUP. It has been tested to run in 15m time frame , it can be used on a small TF like 1,3,5,10 . And it provides good results . DONT USE IT ON A LARGER TIME FRAMES LIKE 1hr . 4 hr and 1 day or more . if you want to use , please change the default setting.
EMA , 20 & 50 period -- can be used for identifying trend and the strength of the trend.
if price are below 20 and 50 it mean trend is bearish - and bearish trading strategies to be used. if price are above 20 and 50 it means trend is bullish - and bullish trading strategies to be used.
if the difference in 20 and 50 period EMA line is increasing , that means trend is very strong if the difference in 20 and 50 period EMA line is stable , that means trend is very strong if the difference in 20 and 50 period EMA line is decreasing , that means trend is weak if the 20 and 50 period lines are inter twisted , that means its sideways