Support & Resistance | EMILIANO MESA

5 thg 7, 2019

After months of studying, and lots of coding I figured out support & resistance levels are much more complicated than what we thought. After hundreds of failed trials using price(close) as the main source of information for my S/R indicators, after modifying certain values, and creating an effective method to define S/R levels, which does not include price a huge advanced was made. Today I introduce, and make public "Support & Resistance | Emiliano Mesa" by Emiliano Mesa. This indicator uses my method to find support and resistance levels, which again isn't based in price, but other factors.

Furthermore it creates areas rather than simple lines. As they are more precise. When price enters an area a range movement can be expected.

Key:
Blue Fill --> Support/Resistance Areas
Yellow Background --> New S/R Area Created

This indicator works extremely well in 2H, I suggest length value as 314, however you can play with it.


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Sincerely,
Emiliano Mesa Uribe