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What method do you use to draw past support and resistance levels?
Please discuss ways to draw past support and resistance levels and Fibonacci if you have any ideas or methods.
TradeWizards posted:Please discuss ways to draw past support and resistance levels and Fibonacci if you have any ideas or methods.
I look at swing highs & lows for support and resistance then apply Fibonacci to retracement. What your go to method?
The validity of supports and resistances is directly related to the number of their collisions, and they should be checked carefully for the past periods, which is a difficult task.These levels are not a specific line but an area in terms of market volatility.Sometimes missing one of them can cause you to exit or enter a wrong trade.
Brenda13 posted:How do you confirm their strength?
The number of times a price range is touched.The more times it is touched, the more important it is.If these levels are on the H1 and H4 timeframes, they are more important.They are more powerful if they coincide with fibo nachi.If they form candlestick and harmonic patterns on the M30 and M15 timeframes, they are important.If they are at the bottom and top of the channel, they are also important.And.....
TradeWizards posted:Brenda13 posted:How do you confirm their strength?
The number of times a price range is touched.The more times it is touched, the more important it is.If these levels are on the H1 and H4 timeframes, they are more important.They are more powerful if they coincide with fibo nachi.If they form candlestick and harmonic patterns on the M30 and M15 timeframes, they are important.If they are at the bottom and top of the channel, they are also important.And.....
Understood, the more times a level is test the stronger it gets. How'd you spot level in trades?
matt88819 posted:TradeWizards posted:Please discuss ways to draw past support and resistance levels and Fibonacci if you have any ideas or methods.
I draw it by checking for key price levels.
Do you have a specific pattern or method for choosing these levels?
Brenda13 posted:TradeWizards posted:Brenda13 posted:How do you confirm their strength?
The number of times a price range is touched.The more times it is touched, the more important it is.If these levels are on the H1 and H4 timeframes, they are more important.They are more powerful if they coincide with fibo nachi.If they form candlestick and harmonic patterns on the M30 and M15 timeframes, they are important.If they are at the bottom and top of the channel, they are also important.And.....
Understood, the more times a level is test the stronger it gets. How'd you spot level in trades?
I designed a computational code that identifies these levels based on the maximum and minimum points of the zigzag and examining past waves in several time frames.I am currently looking for other ways to improve it.
TradeWizards posted:Brenda13 posted:TradeWizards posted:Brenda13 posted:How do you confirm their strength?
The number of times a price range is touched.The more times it is touched, the more important it is.If these levels are on the H1 and H4 timeframes, they are more important.They are more powerful if they coincide with fibo nachi.If they form candlestick and harmonic patterns on the M30 and M15 timeframes, they are important.If they are at the bottom and top of the channel, they are also important.And.....
Understood, the more times a level is test the stronger it gets. How'd you spot level in trades?
I designed a computational code that identifies these levels based on the maximum and minimum points of the zigzag and examining past waves in several time frames.I am currently looking for other ways to improve it.
Cool. Have you tried incorporating liquidity zones to refine those levels?
Brenda13 posted:TradeWizards posted:Brenda13 posted:TradeWizards posted:Brenda13 posted:How do you confirm their strength?
The number of times a price range is touched.The more times it is touched, the more important it is.If these levels are on the H1 and H4 timeframes, they are more important.They are more powerful if they coincide with fibo nachi.If they form candlestick and harmonic patterns on the M30 and M15 timeframes, they are important.If they are at the bottom and top of the channel, they are also important.And.....
Understood, the more times a level is test the stronger it gets. How'd you spot level in trades?
I designed a computational code that identifies these levels based on the maximum and minimum points of the zigzag and examining past waves in several time frames.I am currently looking for other ways to improve it.
Cool. Have you tried incorporating liquidity zones to refine those levels?
We just calculated the hits of each level.The Fibonacci tubes shown in the front of the chart are very powerful if they meet high-hit resistance levels.
Brenda13 posted:TradeWizards posted:Please discuss ways to draw past support and resistance levels and Fibonacci if you have any ideas or methods.
I look at swing highs & lows for support and resistance then apply Fibonacci to retracement. What your go to method?
I also rely heavily on support and resistance levels from HFM autochartist, but I combine them with moving averages and RSI to confirm trends and overbought/oversold conditions. This helps me filter out false signals and time entries more effectively.
I prefer using a mix of horizontal levels and Fibonacci retracements. Horizontal S/R levels help identify key price reaction zones, while Fibonacci retracements add confluence for potential reversals. Simple, effective, and works well across different timeframes.
bardachok posted:Brenda13 posted:TradeWizards posted:Please discuss ways to draw past support and resistance levels and Fibonacci if you have any ideas or methods.
I look at swing highs & lows for support and resistance then apply Fibonacci to retracement. What your go to method?
I also rely heavily on support and resistance levels from HFM autochartist, but I combine them with moving averages and RSI to confirm trends and overbought/oversold conditions. This helps me filter out false signals and time entries more effectively.
Does autochartist level are correct most of the times?
TradeWizards posted:Brenda13 posted:TradeWizards posted:Brenda13 posted:TradeWizards posted:Brenda13 posted:How do you confirm their strength?
The number of times a price range is touched.The more times it is touched, the more important it is.If these levels are on the H1 and H4 timeframes, they are more important.They are more powerful if they coincide with fibo nachi.If they form candlestick and harmonic patterns on the M30 and M15 timeframes, they are important.If they are at the bottom and top of the channel, they are also important.And.....
Understood, the more times a level is test the stronger it gets. How'd you spot level in trades?
I designed a computational code that identifies these levels based on the maximum and minimum points of the zigzag and examining past waves in several time frames.I am currently looking for other ways to improve it.
Cool. Have you tried incorporating liquidity zones to refine those levels?
We just calculated the hits of each level.The Fibonacci tubes shown in the front of the chart are very powerful if they meet high-hit resistance levels.
Do you use it for entry or exits?
I like plain vanilla type of trades.I use the highest and lowest ends as support/resistance. I'd love to see 2 - 3 times where it was previously rejected/supported to validate those levels. If you're on TradingView, search for this indicator "Support Resistance by LonesomeTheBlue"
Brenda13 posted:TradeWizards posted:Brenda13 posted:TradeWizards posted:Brenda13 posted:TradeWizards posted:Brenda13 posted:How do you confirm their strength?
The number of times a price range is touched.The more times it is touched, the more important it is.If these levels are on the H1 and H4 timeframes, they are more important.They are more powerful if they coincide with fibo nachi.If they form candlestick and harmonic patterns on the M30 and M15 timeframes, they are important.If they are at the bottom and top of the channel, they are also important.And.....
Understood, the more times a level is test the stronger it gets. How'd you spot level in trades?
I designed a computational code that identifies these levels based on the maximum and minimum points of the zigzag and examining past waves in several time frames.I am currently looking for other ways to improve it.
Cool. Have you tried incorporating liquidity zones to refine those levels?
We just calculated the hits of each level.The Fibonacci tubes shown in the front of the chart are very powerful if they meet high-hit resistance levels.
Do you use it for entry or exits?
These levels are very important for determining entry and exit and I use them a lotYou can test the indicator "TW Support Resistance Level" on the MQL5 Site.
blufxnet posted:I like plain vanilla type of trades.I use the highest and lowest ends as support/resistance. I'd love to see 2 - 3 times where it was previously rejected/supported to validate those levels. If you're on TradingView, search for this indicator "Support Resistance by LonesomeTheBlue"
Does it worked for you in a high volatile market?
TradeWizards posted:Brenda13 posted:TradeWizards posted:Brenda13 posted:TradeWizards posted:Brenda13 posted:TradeWizards posted:Brenda13 posted:How do you confirm their strength?
The number of times a price range is touched.The more times it is touched, the more important it is.If these levels are on the H1 and H4 timeframes, they are more important.They are more powerful if they coincide with fibo nachi.If they form candlestick and harmonic patterns on the M30 and M15 timeframes, they are important.If they are at the bottom and top of the channel, they are also important.And.....
Understood, the more times a level is test the stronger it gets. How'd you spot level in trades?
I designed a computational code that identifies these levels based on the maximum and minimum points of the zigzag and examining past waves in several time frames.I am currently looking for other ways to improve it.
Cool. Have you tried incorporating liquidity zones to refine those levels?
We just calculated the hits of each level.The Fibonacci tubes shown in the front of the chart are very powerful if they meet high-hit resistance levels.
Do you use it for entry or exits?
These levels are very important for determining entry and exit and I use them a lotYou can test the indicator "TW Support Resistance Level" on the MQL5 Site.
How do you confirm the direction of the price movements?
ChelseaR posted:TradeWizards posted:Brenda13 posted:TradeWizards posted:Brenda13 posted:TradeWizards posted:Brenda13 posted:TradeWizards posted:Brenda13 posted:How do you confirm their strength?
The number of times a price range is touched.The more times it is touched, the more important it is.If these levels are on the H1 and H4 timeframes, they are more important.They are more powerful if they coincide with fibo nachi.If they form candlestick and harmonic patterns on the M30 and M15 timeframes, they are important.If they are at the bottom and top of the channel, they are also important.And.....
Understood, the more times a level is test the stronger it gets. How'd you spot level in trades?
I designed a computational code that identifies these levels based on the maximum and minimum points of the zigzag and examining past waves in several time frames.I am currently looking for other ways to improve it.
Cool. Have you tried incorporating liquidity zones to refine those levels?
We just calculated the hits of each level.The Fibonacci tubes shown in the front of the chart are very powerful if they meet high-hit resistance levels.
Do you use it for entry or exits?
These levels are very important for determining entry and exit and I use them a lotYou can test the indicator "TW Support Resistance Level" on the MQL5 Site.
How do you confirm the direction of the price movements?
Support and resistance levels only identify important areas for a pullback.The higher the number of hits to that level and the more they match the Fibonacci levels of the last swing, the higher the probability of returning to the previous Fibonacci level.Having important areas and combining them with other strategies reduces your risk.I introduced a new product on MQL5 Market that you can also test and combine with resistance levels.
