Support / Resistance

May 19th, 2020, 09:15 AM

Hello everybody. hope I'm right here with my question. I am looking for a way to show resistance and support levels and an indicator that shows how strong it is. Is there such a thing on sierra chart? thank u!

May 19th, 2020, 09:56 AM

It does not exist.

You can use built in study " Zig Zag " study to plot horizontal lines from previous swing high and low.
There may or may not be stronger support / resistance at pivot points, yesterdays high / low or round numbers.
When pivot point + yesterdays H or L + round number forms tight zone it may or may not be stronger support / resistance level.

May 19th, 2020, 11:45 AM

lemons

It does not exist.

You can use built in study " Zig Zag " study to plot horizontal lines from previous swing high and low.
There may or may not be stronger support / resistance at pivot points, yesterdays high / low or round numbers.
When pivot point + yesterdays H or L + round number forms tight zone it may or may not be stronger support / resistance level.

Thank you for your prompt reply. I am already using your suggestion. Speculated on a third party add-on. Too bad. Would be too nice. Thanks again and have a successful day

May 20th, 2020, 11:42 AM

Swing high/lows are not what support/resistance is

Support/resistance are zones where aggressive buyers or sellers are stepping in to the market OR the zones where excessive amounts of liquidity are being provided on one side

No point in drawing a line, this will shift in time

For me it can be best seen on a footprint chart, especially with delta shading

Support / Resistance

Discussion in Sierra Chart

Support / Resistance