ATR Support and Resistance Indicator
The new TradersHelpDesk ATR Support and Resistance indicator identifies average true range support and resistance on three different timeframes. This makes trading multiple timeframes easier than ever. The different colors represent the three different timeframes and are inputs so you can change them to the colors you want:
- White identifies the support and resistance on the lowest timeframe
- Cyan identifies the support and resistance on the middle timeframe
- Red identifies the support and resistance on the highest timeframe
By following the multiple timeframes you can actually decipher which support and resistance level will most likely be tested and identify the “sweet spots”. The sweet spots are areas where there is nothing in the way of price moving to a new area.
The indicator comes with the indicator file, workspace and documentation.