Q-SR - Quaderr S https://quaderr.com/q-sr/

Support and Resistance (Q-SR)

Learn how Q-SR works:

Support and Resistance (SR) levels are levels where the market found it hard to move beyond that level. These levels often determine ranges where the markets will move within or between. When the market breaks above or below these significant levels we can generally expect a big move. When the markets fail to break these levels we can generally expect the market to revert from these levels back to some other level.

How to Trade it?

Entries

When the market approaches a SR level we wait to see whether the market pulls back from this level or breaks out through this level. So when the market breaks above the resistance level you have a break out and you go long. When the market fails to break a resistance level you have a reversion trade and you can short the market. The opposite is true for support levels.

Exits

Support and Resistance levels provides us with good profit target levels. Exit a long trade at a resistance level above your entry level and exit a short trade at a support level below your entry price.

Stoplosses

It works well to place your stoploss at your SR level below your entry price for a long and at a level above your entry price for a short.

You can trail this stoploss upwards in a long trade as the market breaks above resistance levels by moving your stoploss level upwards along with the break outs of these resistance levels.

Settings

The larger you make the settings the further apart your SR levels will be. Generally the larger the setting the more significant the levels become. Lower settings will provide you with more SR levels with lesser significance.

Generally values between 0.5 – 2 provides good ranges.

Example of Trade Set-ups

Here we find Break-Outs

The Indicator detects Major Support and Resistance Levels in real time

The Indicator detects Minor Support and Resistance Levels

Great Trade Setups when the market bounces of Support and Resistance Levels

There are generally quite a bit of noise around SR levels as the markets fight the level, our Ninjatrader Indicator plots bands with the band representing the noise around these levels. a break above or below the band signals the trade entries.

We have done a lot of research in this regard and have developed an Indicator called Q-Scalper to trade these levels. Click the link below for more info on Q-Scalper

Q-Scalper