Resistance and support line

[Painfultrader]

Yes. S/R line is much more important in big time frame like month and week than smaller time frame. I use them to confirm fundamental factor.

 

[BoyBrutus]

Support and Resistance are an illusion, the market runs on stops. If you want to trade think like a trader. If you want to win think like a market maker.

 

[Painfultrader]

Support and Resistance are an illusion, the market runs on stops. If you want to trade think like a trader. If you want to win think like a market maker.

Thanks, buddy. Everything is illusion except price and volume.

 

[Painfultrader]

Some automatically drawn random lines, improved.

 

[SunTrader]

Some automatically drawn random lines, improved.

What time frame is that?

 

[Painfultrader]

What time frame is that?

It's one hour frame.

 

[MotiveWave]

MotiveWave has a built in Support/Resistance Study. This is an example of it on AAPL 1 hour time frame. You can add signals too.

 

[SunTrader]

Either way just a lot of lines, most that are meaningless.

 

[WealthSignals]

Wealth-Lab has a strategy that highlights Support and Resistance Zones producing output like on this chart:

-Eugene

 

[misterkel]

Is there a software or indicator that could automatically draw resistance and support line, like moving average? Thanks very much.

Uh - is there a software that CAN'T do that?