FRB Support and Resistance

Understanding FRB Support and Resistance

Dynamic Role Reversal

• When a resistance level is breached, it often transforms into a support level.
• Conversely, if the price falls below a support level, it can become a resistance level.
• This dynamic interplay adds depth to market analysis, aiding traders in anticipating potential trend reversals.

Horizontal Levels

• Our indicator focuses on horizontal support and resistance levels, identified by straightforward horizontal lines on the chart.
• Support levels are represented by red lines, indicating potential areas where buying pressure may emerge.
• Resistance levels are depicted by green lines, signifying zones where selling pressure might intensify.

Identification of Price Halting Zones

• By pinpointing support and resistance levels, traders gain insights into areas where the prevailing trend in price is likely to pause or potentially change direction.
• These levels can serve as strategic entry or exit points, enhancing trading precision and risk management.

Adaptability to Time Frames

• The significance of support and resistance levels can vary based on the trader's time frame.
• Whether you're a short-term scalper or a long-term investor, our indicator accommodates different trading styles by offering customizable time frames for analysis.

Visual Representation

• Support levels are represented by red lines on the chart, indicating potential areas where buying pressure may emerge, halting downward price movements.
• Resistance levels are depicted by green lines, signifying zones where selling pressure might intensify, impeding upward price movements.

Universal Compatibility

• No matter what you're trading – be it forex, cryptocurrencies, indices, or commodities – PR Support and Resistance seamlessly integrates with all pairs.
• Its versatile design ensures that traders can harness its power across diverse markets without limitations.

Flexible Timeframes

• While optimized for the H1 and H4 timeframes, PR Support and Resistance remains effective across all timeframes.
• Whether you're a short-term scalper or a long-term investor, this indicator adapts to your preferred trading style, providing valuable insights at any interval.

Alert Generation

• Stay informed and never miss a critical market event with PR Support and Resistance's alert generator feature.
• Receive timely notifications via pop-up alerts, push notifications, or other customizable alert mechanisms.
• With this capability, you can react swiftly to emerging opportunities or changing market conditions.

Completely Free

• In an industry where access to quality tools often comes at a premium, PR Support and Resistance breaks the mold by offering its full suite of features at absolutely no cost.
• Experience the benefits of this powerful indicator without any financial barriers, empowering you to elevate your trading strategy without breaking the bank.

Key Features

• Dynamic Support and Resistance Level: Adjust as new important key points unfold on the chart.
• Multi-timeframes Support and Resistance Levels: Ability to display any timeframes levels on any other timeframe.
• Smart algorithm that incorporates historical data sets it apart from other S&R indicators, ensuring a comprehensive analysis.
• Customizable colors of support and resistance levels individually, creating a personalized visual experience.
• Alert features to notify traders when the price is approaching crucial levels, enhancing timely decision-making.
• Convenient functionalities like a hide and show button, as well as a hotkey for quick toggling of levels' visibility.

Practical Application

• Just open a deal on the signal that formed after a rebound from a strong support-resistance zone - the probability of profit will increase many times.
• Close the deal at the nearest border of the opposite zone.
• It perfectly complements the candle analysis - it strengthens the reversal candle models of the Hammer/Shooting Star, Engulfing type.
• Perfectly combined with other elements of the Price Action: Pin-bar, Outside Bar, the Pattern-123.

Recommendations for Trading

• Do not use the first reaction of the price to the level for immediate entry into the trade!
• This may be a minor correction, after which the price will break through the zone and the old trend will continue.
• Be sure to wait for the zone retest.
• The price can react not only to the current active zones, but also to the old zones that were broken earlier.

Conclusion

• Support and resistance levels are essential for identifying key price points where the trend in price has a greater probability of halting and possibly changing direction.
• Understanding and utilizing these levels can significantly enhance trading precision and risk management.
• Whether you're a newbie or an expert trader, incorporating support and resistance analysis into your trading strategy can provide valuable insights and improve your trading outcomes.