ORTI Swing High Low / Support Resistance (Static TFM)
The "ORTI Swing High Low / Support Resistance (Static Timeframe Multi-Period)" is based into existing studies that shows support and resistance levels taking as reference the highest and lowest points of certain periods, as a redesigned and recalculated set of the common plotted lenght.
The cherry on the top for this version is, when you want to get a predetermined count in (ranges) units of time, as: minutes, hours or days, in any a intraday graph you could get a static lenght, and this count will be automatically respected. For example, an average could be configured to know a high or low levels per hour, day, week or month ... or whatever comes to mind, and at every single chart that you move through (5m, 15m, 1h, 4h, etc), you will see the same lenght to make your own "support and resistance analysis" into a micro / macro market view.
Remember that part of analyzing chart patterns, the support and resistance levels are undoubtedly two of the most highly discussed attributes of technical analysis. Part of analyzing chart patterns, these terms are used by traders to refer to price levels on charts that tend to act as barriers, preventing the price of an asset from getting pushed in a certain direction.
With the new features, you will get a little help to identify in your technical analysis some signals to identify price points on a chart where the probabilities favor a pause or reversal of a prevailing trend. Support and resistance areas can be identified on your charts using this indicator.
For more technical information look at Investopedia.
Note: The previous calculation example is not the default, the parameters can be adjusted according to the criteria of the merchant.
The cherry on the top for this version is, when you want to get a predetermined count in (ranges) units of time, as: minutes, hours or days, in any a intraday graph you could get a static lenght, and this count will be automatically respected. For example, an average could be configured to know a high or low levels per hour, day, week or month ... or whatever comes to mind, and at every single chart that you move through (5m, 15m, 1h, 4h, etc), you will see the same lenght to make your own "support and resistance analysis" into a micro / macro market view.
Remember that part of analyzing chart patterns, the support and resistance levels are undoubtedly two of the most highly discussed attributes of technical analysis. Part of analyzing chart patterns, these terms are used by traders to refer to price levels on charts that tend to act as barriers, preventing the price of an asset from getting pushed in a certain direction.
With the new features, you will get a little help to identify in your technical analysis some signals to identify price points on a chart where the probabilities favor a pause or reversal of a prevailing trend. Support and resistance areas can be identified on your charts using this indicator.
For more technical information look at Investopedia.
Note: The previous calculation example is not the default, the parameters can be adjusted according to the criteria of the merchant.
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Bug fixed.