X-Day Critical S/R indicator plots critical levels from the last X days (not including today), where X is any integer between 2 and 100 (inclusive). Popular values that traders often use are 3 and 5.
The last X days is a solid reference for today's trading. The market often rests, retraces, or reverses around X-day high, low, center - which therefore becomes critical support/resistance levels for today's session.
An upper mid & a lower mid based on X-day range are also added because of their high values as support/resistance. You will be astonished when seeing them in action.
How many times have you bought near X-day high or sold near X-day low, and then got stuck in bull/bear traps? The market frequently bounces or reverses around X-day high and low (at least temporarily) but you are tempted to make innocent trades there - just because you don't recognize these critical levels. Our prime indicator plots X-day critical support/resistance levels onto today's session, helping you never forget these important zones.
The market breaking above X-day high or below X-day low is an important event, on which the indicator will trigger alerts to notify you. The price regions above the high and below the low are optionally shaded for you to easily monitor.
There are as many as 5 plots. If you don't need one, please set its color to "transparent" to hide it from the chart.
Key features:
- Plot X-day high, low, center
- Plot an upper mid & a lower mid based on X-day range (fully configurable)
- Paint price regions above X-day high and below X-day low in 2 different colors
- Trigger alerts on X-day range breach
- Print markers on X-day range breach
- Be NinjaScript ready for advanced usage, only restricted by your imagination
- Expose dedicated NinjaScript signals
Dedicated NinjaScript signals:
- Signal_State:
- 2 = above high
- 1 = between center and high (inclusive)
- 0 = at center
- -1 = between center and low (inclusive)
- -2 = below low
- 24 Sep 2020 - Massive changes, fixes, and improvements were made (DPI, display name, Z order, alert properties, marker string, bar painting, chart info, property naming/positioning/grouping); alert popup was visually enhanced; all plot values were rounded to the nearest tick size; signal state was revised.
- 07 Jan 2020 - The indicator was released (built new).
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