Looking for Indicator for support/resistence levels

[elitetradernyc]

Hey guys, I am looking for a good indicator to use for intraday trading that displays major support and resistance levels for the past few days/weeks/hours. What would you guys recommend from the forum?

[Harry]

I use this indicator, which I have coded.

http://www.ninjatrader.com/support/forum/local_links.php?action=sendtofriend&catid=4&linkid=343

I prefer floor pivots or the symmetrical version of floor pivots, which is called Jackson Zones. Also have a look at the noise bands as breakout points and the average daily range expectation.

[td_910]

Price Action rules

Hi,

Here is a more reliable way to find S/R (as everybody can see them), but also more time consuming .

If you trade RTH, just use prior day H/L/C, current week H/L and prior week H/L/C. On Friday's/towards end of week can also use Open of current week as S/R.
Indicators for that available.

In addition mark gaps on daily RTH chart. Like C of prior day and L of gap day (if gap up).

If prior day is trend or reversal bar on daily chart, 33,50 and 66% retraces work well too as pullback traders enter around these levels.

If you're more into price action, when you see spike and channel pattern, the start of the channel is almost always S/R.

Can trade plenty of breakout pullbacks and failed breakouts off that.

Cheers

Thomas

[Harry]

Hi,

Here is a more reliable way to find S/R (as everybody can see them), but also more time consuming .

If you trade RTH, just use prior day H/L/C, current week H/L and prior week H/L/C. On Friday's/towards end of week can also use Open of current week as S/R.
Indicators for that available.

In addition mark gaps on daily RTH chart. Like C of prior day and L of gap day (if gap up).

If prior day is trend or reversal bar on daily chart, 33,50 and 66% retraces work well too as pullback traders enter around these levels.

If you're more into price action, when you see spike and channel pattern, the start of the channel is almost always S/R.

Can trade plenty of breakout pullbacks and failed breakouts off that.

Cheers

Thomas

I also do gap analysis, but it is a little bit more complex than prior highs, lows and closes or the floor pivots. Attached is a sample chart with open gaps for GC.

[td_910]

Hi,
its as simple as HLC of Y, see ES 2000 tick ETH chart from 5/29. I marked LOY (low of Yesterday) and channels. Can take plenty of S trades at LOY.

http://screencast.com/t/MNtEU4sTy

Same today on ES 2000t chart, just put COY and HOY line on ETH chart, there are countless examples every day.

Or NQ 5min RTH chart today, Brs at COY and breakout test HOY.

http://screencast.com/t/MDu0gUZkpl

Cheers

Thomas

[hasaan]

Hi,
i am looking for an indicator that show the support / resistance level if you please tell me.
Thanks

[NinjaTrader_Matthew]

Hello Hasaan,

Have you tried the "Swing" indicator that comes default with NinjaTrader? This should give you some recent levels which you can use as support /resistance.