INVITE-ONLY SCRIPT
S&R
The S&R is a simple support and resistance indicator that will plot green dots below a candle for support and red dots above a candle for resistance. It is also a part of my stock analysis software trading package.
The indicator will look for various types of support that I like to use on a consistent basis.
1. Whole number support and resistance. We know that solid whole numbers will often have S&R so this indicator will plot that on the chart. For example. If price is rising in a bullish trend and the high on the candle was 30 dollars even and closes at 29.80. The indicator would plot a red dot above the candle for possible resistance at the whole number 30.
2. If price comes within a % of the whole number and pulls back.
3. The indicator will plot red and green dots above and below the candles if an exact price is hit 2 or more candles in a row highlighting the S&R.
4. If a candles low is within a certain percent of the previous candles low a green dot will plot showing the support.
I will teach you this indicator as part of the stock analysis software package and provide you videos on how to use it for best results.
Invite-only script
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