Percentage S&R

This indicator can be used to provide "hidden" Support and Resistance levels, which can be useful for profit-taking and stop-loss levels on swing trades.

The middle white line is the midpoint of the range of the previous 60 candles.

The grey lines above equal the midpoint line +5%, +10%, +15% and +20%.

The grey lines below equal the midpoint line -5%, -10%, -15% and -20%.

This indicator is similar to a Moving Average Envelope, but without the lag.

Doesn't work as well on the extreme low or high time frames. 1 hour - Daily charts seem to be best.