TC2000 Support and Resistance Indicator

Description

Horizontal support and resistance levels are the foundation of technical analysis. They represent clear levels of institutional buying and selling across markets and our TC2000 Support and Resistance Indicator is designed to highlight those exact areas.

How it works

This indicator is built to identify horizontal support and resistance levels based exclusively on price action.

We’ve adopted the logic of pivot points where we look for turning points in a price series by constantly comparing the prices before and after new lows or highs are made. This helps us programmatically identify notable turning points in the market without any ambiguity or discretion.

These turning points are significant because they represent the price levels at which buyers finally overwhelmed sellers (or vice versa), thus leaving behind important clues around the value at specific price levels.

The indicator displays two sets of values on your charts: minor support/resistance levels and major support/resistance levels. We do this to provide greater context about how influential a particular area is likely to be.

Requirements

• An active TC2000 Premium or Premium+ subscription is required to use this scan
• You must be running Version 20 or higher of TC2000 to use this scan

How to use this indicator

There are many ways to apply the TC2000 Support and Resistance Indicator, some of which include:

• A clean and objective way to measure prior supply and demand areas
• A clear and efficient way to visualize trends
• Plan and inform your trades around key levels

Features

• Purchase includes exact indicator PCF code and video setup instructions
• Coded to work seamlessly for all time-frames

Add to cart

Please note: all sales are final. This is an instant digital download and you will receive the source code immediately upon purchase. We encourage you to contact us prior to check out if you have any questions or if you would like to see more indicator examples. Thank you for your understanding!