TC2000 Support and Resistance Indicator
The TC2000 Support and Resistance Indicator is a wonderful tool to highlight exactly where prior supply and demand levels exist for any stock or ETF.
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 does it work
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.
How to use it
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
- Purchase includes exact indicator PCF code and video setup instructions
- Coded to work seamlessly for all time-frames
- Worden TC2000 gold subscription running software version 20.0 or higher
Any questions? Contact us.