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14_Price Pivot Levels

How it Works: The OTS Support/Resistance Levels Indicator dynamically identifies and displays support and resistance levels on trading charts, facilitating the recognition of areas with significant buying or selling pressure.

Key Features:

  1. Cyclewave Integration: Utilizes the Cyclewave indicator to pinpoint market highs and lows. When a cycle high occurs and the market retraces from this peak, it leaves a wick on top. The length of this wick is interpreted as resistance at that time, displayed in a reddish color.

  2. Real-Time Level Adjustments: Continuously updates support and resistance levels in real time, ensuring accuracy and relevance to current market conditions. This feature provides traders with up-to-date insights into potential buying or selling opportunities.

  3. Color Coding: Automatically adjusts the color of the support/resistance levels based on market behavior. If the market moves above a resistance level, indicating a shift in sentiment, the color changes to greenish, indicating support. This visual cue helps traders identify potential entry or exit points with ease.

By incorporating the OTS Support/Resistance Levels Indicator into their trading analysis, traders gain valuable assistance in identifying key price levels and making informed trading decisions based on real-time market dynamics.

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