Summary of "馃幆Add Support and Resistance Major/Minor Indicator in TradingView -馃摜Download Free | Tradingfinder"
The video presents a tutorial on the Support and Resistance Major/Minor Indicator available for free on TradingView via the Tradingfinder site. This indicator helps traders identify key price reaction levels by automatically drawing primary and secondary Support and Resistance Lines on price charts, including both long-term and short-term levels.
Main Financial Strategies and Business Trends:
- Utilizing automated tools to identify critical support and resistance levels in trading.
- Enhancing Technical Analysis accuracy by distinguishing between major and minor support/resistance lines.
- Customizing indicator settings to fit individual trading strategies and timeframes.
Methodology / Step-by-Step Guide to Using the Indicator:
- Access the indicator on TradingView by searching its name in the indicator section.
- Add the indicator to your favorites for quicker access.
- Apply the indicator to your price chart, which will display:
- Primary (main) long-term Support and Resistance Lines.
- Secondary (minor) long-term Support and Resistance Lines.
- Primary and secondary short-term Support and Resistance Lines.
- Customize the indicator settings under the input section:
- Adjust the Long-term Pivot Period (default 21).
- Adjust the Short-term Pivot Period (default 5).
- Enable/disable display of main and minor long-term lines.
- Change colors for Support and Resistance Lines.
- Select line styles (solid, dotted, dashed) for main and minor lines.
- Adjust line thickness/size.
- Enable/disable display of main and minor short-term lines with color and style customization.
- Confirm and save changes by clicking the confirm button.
The indicator is designed to be a practical tool for traders to easily spot significant price levels and improve trading decisions based on support and resistance analysis.
Presenter / Source:
- The tutorial is provided by Tradingfinder.
Category
Business and Finance
