AZ Capital S & R
Overview
- The algorithm endeavours to robotize the identification of support and resistance levels by recognizing enormous swings/turns in authentic value activity.
- These tops and bottoms in value activity shows where the bunches of buyers or sellers came into the market and may go about as future degrees of support or resistance.
- The code identifies the last 3 huge swing highs and the last 3 swing lows. It at that point places lines on the outline to feature those levels.
- In support and resistance hypothesis, frequently the support becomes resistance and the other way around. Along these lines, the algorithm doesn't just sort swings lows as "support" and swing highs as "resistance". All things considered, the algorithm takes a gander at the swing position comparative with the current close cost.
- In the event that the price is over the level, the algorithm thinks of it as support. On the off chance that the price is beneath the level, the algorithm believes it to be resistance.
- In light of this, the lines are naturally shaded by whether the prices are above or beneath the current close cost. At the point when any of the levels are beneath the nearby value, the lines are shaded green. Then again, at whatever point they are over the nearby, they are shaded red.