The OTS Support/Resistance Levels reflect X cycle lengths, using cycle lows as support lines and cycle highs as resistance lines. These lines are plotted in real-time and adjusted as they break. For instance, if a support line below the market is breached, it transforms into resistance above, and vice versa. With a lookback of X cycles, say 10, the indicator reveals support/resistance lines beyond the current chart display, exposing historical levels of market support or resistance previously unnoticed — a unique insight brought to light by the OTS Indicator Support/Resistance Lines.
Support / Resistance Settings
The Support/Resistance indicator is elegantly straightforward. Its inputs offer the flexibility to utilize the Open, Medium Level, or Close for calculations. Users can specify the number of bars to establish Trading Cycle Lows and Greek Cycles, forming the basis for support or resistance. Additionally, you have the option to determine how many cycle counts back to display on the screen, distinctly highlighting support or resistance. This indicator effectively brings attention to the obvious in real-time, providing live insights for enhanced decision-making.
- Source: 3 Modes (Open, Medium, Close)
- Period: 15
- Start TC Count: 15
- End Cycle Count: 3
- Show Last X Support Windows: 5
- Show Last X Resistance Windows: 5
- Support Window Color: Lime Green
- Support Window Outline Color: Gray
- Support Window Opacity: 20
- Resistance Window Color: Red
- Resistance Window Outline Color: Gray
- Resistance Window Opacity: 20