Number 1: Intraday support and resistance levels
Number 2: Swing Support and Resistance levels
There are 3 types of intraday levels to consider.
For Intraday S/R we will use the following parameters to identify those levels.
The London and Frankfurt Open Price serves as intra-day Support and Resistance.
Draw a Line at The London and Frankfurt and New York Equities Open Price Horizontal Line should run for the Day only. An Option for a vertical line showing Open time is also required. By default set to false.
The highs and lows of the range of the immediate previous session also serve as good intra-day support resistance. The highs and lows of the range of Each of the 3 sessions should be marked with horizontal lines. The lines should terminate at the end of date.
There are 3 Types of Swing Levels we need to Consider
The High and Low of the 5 Days
The High and Low of the Week
Highs and Lows of Yesterdays Session highs and Lows. (Most Important)
And tha’t# it.