Support and Resistance
S/R displays up to 10 different support/resistance lines. It’s shamefully accurate!
Source: You can choose between High/Low and Close/Open. Simply put, this means that the S/R will be calculated and displayed according to your choice of source.
Maximum Number of Lines: As the name suggests, the maximum number of S/R to display.
Minimum Strength: The minimum number of pivot points hitting the same value to display an S/R
Line Style: Whether dotted, dashed, or solid, you have a choice of design for your S/R.
Line Width: The width of S/R lines
Reading
Support and resistance are two foundational concepts in technical analysis. Technical analysts use support and resistance levels to identify price points on a chart where the probabilities favor a pause or reversal of a prevailing trend.
Support occurs when a downtrend is expected to pause due to a concentration of demand.
Resistance occurs when an uptrend is expected to pause (temporarily) due to a concentration of supply.
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