Support and resistance levels are well-known concepts in trading, yet many people find it challenging to identify them accurately, often confusing them with liquidity areas. For instance, equal highs and lows might appear as support and resistance, but in reality, they aren't. Our Support and Resistance Indicator ensures that only genuine support and resistance zones are displayed, factoring in both volume calculation and key level measuring. Furthermore, our Multi Trend Tool incorporates a revolutionary Multi Timeframe Support and Resistance feature that will significantly enhance your trading analysis. This article will guide you through the process of activating it.
To enable the Support and Resistance feature simply head over to the indicator settings.
When you are inside the MTT settings - locate the Support and Resistance box and enable it.
The Support and Resistance indicator incorporates a built-in strength computation. It assigns a numerical value to the zones, labeled as 'Str: 1', 'Str: 2', and so forth. Within the settings, you have the option to filter out weaker zones and display only those of a certain strength or above. For instance, setting the filter at '3' will exclusively present you with zones marked 'Str: 4' or higher.
As the description implies, this feature lets you control the number of zones displayed on your chart. Similar to other features that have both bullish and bearish aspects, each display limit counts as one, even though it includes two zones - one for bullish and one for bearish.
The Support and Resistance feature is multi-timeframe, enabling you to select up to three different timeframes simultaneously. This multi-timeframe capability allows you to conduct a more comprehensive analysis, helping you identify stronger zones of support and resistance.
We always keep our chart clean, so we can locate our higher timeframe zones. We are looking to trade the pullback in this example. In this case we are on the 1H and inside a daily support zone, which gives us the chance to look for lower timeframe confirmations.
We shift to the lower timeframe (15M) and enable the SMC Indicator. On the 15M we see a I-CHoCH that confirms we are going up. What we can also see is that we are inside an Order Block, this will give the support zone more strength. We take our entry from the 0.5.
An additional strategy you might consider is waiting for further confirmation by utilizing the trailing stop loss feature. Notice how the purple line transitions to blue and then the price retraces back to the purple line (indicating a retest), before resuming its upward trajectory. This pattern provides an extra level of assurance for your trading decisions.