Support and Resistance Indicators
Support and resistance indicators in trading evaluate the performance and outcomes of trading strategies by identifying key price levels where markets may reverse or consolidate. Here are some of the most commonly used support and resistance indicators:
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- Trendlines: Drawn lines connecting price highs or lows to highlight support or resistance zones and trend direction.
- Pivot Points: Calculated levels based on previous price action, identifying potential support and resistance for the current period.
- Fibonacci Retracement: Uses Fibonacci ratios to mark potential support and resistance levels after a price move.
- Trend Based Fib Extension: Extends Fibonacci levels beyond the initial move to project future support or resistance in a trending market.