Where is the correct entry point? Where to place an adequate stop? What is the potential of the planned transaction? These questions can
be answered by support / resistance levels. But how to determine them correctly? The answer to this question is given by the algorithm
underlying the program.
The algorithm visually displays adequate support / resistance levels and possible price gaps, giving a reliable foothold in making
trading decisions.
For the successful application of this solution, it is necessary to have an understanding of the principles of using support /
resistance levels - how the price behaves at these levels.
To use the support / resistance levels built by the algorithm in trading, you should choose one of three possible periods or use a
combination of all three periods depending on the trading style - short, medium or long term.
The youngest period involves short-term trading with a working period of up to 15 minutes, medium-term with a working period of up to an
hour and long-term above an hour.
When using more than one period, you should install more than one program (up to three) on the chart using different periods and level
display styles to avoid confusion.
The algorithm has two modes for constructing levels - classic and advanced, which one to use depends on the type of instrument and the
scale of trade.
By default, the levels of the beginning of the opening of the period and the possible price gap (Gap)
are displayed in yellow, in lighter tones the levels are located above the opening price of the period, in the darker lower. Also, color marks
the levels located at 50% and 100% of the calculated volatility of the instrument, in various colors relative to the opening price of the
period.
All settings have an intuitive designation and allow you to choose the appropriate ones.
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