Support & Resistance Indicator

Based on swing levels and price levels rather than volume. This separates it from the current ATAS support & resistance indicator. The ProfitPro's indicator calculates support and resistance levels based on prominent swing points and employs a similar calculation method to the zig-zag. Levels are not drawn live; instead, only after swing points are evident. 

Users can adjust the sensitivity of this indicator to see support & resistance levels on a short-term or long-term basis. It can be utilized on any timeframe, but there are no alerts. Users may also customize the color and visuals of the levels. Users can apply the Support & Resistance indicator to spot price zones where markets often react. For example, if price repeatedly bounces at a support level, traders may look for buying opportunities, while resistance levels can signal areas to take profit or prepare for potential reversals. These zones help guide entries, exits, and risk management by highlighting where momentum may pause or shift.

Indicator type: Custom Script