NexusFi: Find Your Edge


Home Menu

 





evaluate Support/Resistance through momentum indicators?


Discussion in Traders Hideout

Updated
    1. trending_up 2,394 views
    2. thumb_up 0 thanks given
    3. group 1 followers
    1. forum 1 posts
    2. attach_file 0 attachments




 
Search this Thread

evaluate Support/Resistance through momentum indicators?

  #1 (permalink)
bgeorge
Thessaloniki
 
Posts: 29 since Jun 2010
Thanks Given: 4
Thanks Received: 8

Hi

I am trying to evaluate the Price Action around a Support/Resistance line. For example:

1) After touching a support line, price shoots up. Then the Support line gets high marks.
2) If price drops and stalls for several bars, before penetrating the line, it still holds some value as future Resistance. Whereas if it provided 0 support, if price did not slow down at all, the line is invalidated.
3) If price drops rapidly and then slows down a little before penetrating the support line with a big down candle, it still shows there was a lot of buying in the area.

I am thinking of using momentum indicators, maybe cross of fast over slower indicators. I did some tests, they looked promissing but did not cover all cases.

I don't have much experience with indicators. So, what do you guys think? Could you recommend some indicators to try out for this purpose?

Reply With Quote

Can you help answer these questions
from other members on NexusFi?
Exit Strategy
NinjaTrader
New Micros: Ultra 10-Year & Ultra T-Bond -- Live Now
Treasury Notes and Bonds
Futures True Range Report
The Elite Circle
Deepmoney LLM
Elite Quantitative GenAI/LLM
NexusFi Journal Challenge - April 2024
Feedback and Announcements
 
Best Threads (Most Thanked)
in the last 7 days on NexusFi
Get funded firms 2023/2024 - Any recommendations or word …
61 thanks
Funded Trader platforms
39 thanks
NexusFi site changelog and issues/problem reporting
26 thanks
Battlestations: Show us your trading desks!
26 thanks
The Program
18 thanks




Last Updated on May 3, 2015


© 2024 NexusFi™, s.a., All Rights Reserved.
Av Ricardo J. Alfaro, Century Tower, Panama City, Panama, Ph: +507 833-9432 (Panama and Intl), +1 888-312-3001 (USA and Canada)
All information is for educational use only and is not investment advice. There is a substantial risk of loss in trading commodity futures, stocks, options and foreign exchange products. Past performance is not indicative of future results.
About Us - Contact Us - Site Rules, Acceptable Use, and Terms and Conditions - Privacy Policy - Downloads - Top
no new posts