Support/Resistance Entry Conditions
In this page, you will learn about the ‘Support/Resistance’ entry conditions.
.png?apiToken=eyJhbGciOiJIUzI1NiIsImtpZCI6IjIwMjMtMDUtMDQifQ.eyJzY29wZSI6Im5vdGUtZXhwb3J0IiwibmlkIjoiVElsc1dCd0lPMVFxRVQiLCJpYXQiOjE3MTk5MDMzMTksImlzcyI6Imh0dHBzOi8vc2xpdGUuY29tIiwianRpIjoieE8yTVoyTGpVNVdKT3kiLCJleHAiOjE3MjI0OTUzMTl9.ooNz01OM4C05mL-3BARRyWZPqb8O-_AmhQ2532Ri7YQ)
If you would like to visually see the support/resistances that the chart is plotting, you can toggle them on with the ‘Plot Support and Resistance’ option at the bottom of the indicator’s settings.
You can also change the settings of the Support/Resistance at the top of the indicator:
.png?apiToken=eyJhbGciOiJIUzI1NiIsImtpZCI6IjIwMjMtMDUtMDQifQ.eyJzY29wZSI6Im5vdGUtZXhwb3J0IiwibmlkIjoiVElsc1dCd0lPMVFxRVQiLCJpYXQiOjE3MTk5MDMzMTksImlzcyI6Imh0dHBzOi8vc2xpdGUuY29tIiwianRpIjoieE8yTVoyTGpVNVdKT3kiLCJleHAiOjE3MjI0OTUzMTl9.ooNz01OM4C05mL-3BARRyWZPqb8O-_AmhQ2532Ri7YQ)
Assuming left bars lookback is 15 and right bars lookback is 15:
Support is plotted when the low of a candle is lower than the low of the last 15 bars before it, and remains the lowest low for the next 15 bars after. So a support is plotted 15 bars after the low actually happened.
Resistance is plotted when the high of a candle is higher than the high of the last 15 bars before it, and remains the highest high for the next 15 bars after. So a resistance is plotted 15 bars after the high actually happened.
Example: If you wanted to code a strategy where one of the entry conditions was:
Only enter if price is above the latest Support
You would input it like this:
.png?apiToken=eyJhbGciOiJIUzI1NiIsImtpZCI6IjIwMjMtMDUtMDQifQ.eyJzY29wZSI6Im5vdGUtZXhwb3J0IiwibmlkIjoiVElsc1dCd0lPMVFxRVQiLCJpYXQiOjE3MTk5MDMzMTksImlzcyI6Imh0dHBzOi8vc2xpdGUuY29tIiwianRpIjoieE8yTVoyTGpVNVdKT3kiLCJleHAiOjE3MjI0OTUzMTl9.ooNz01OM4C05mL-3BARRyWZPqb8O-_AmhQ2532Ri7YQ)
Date & Time Filters