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 prefer:
- White identifies the s/r on the lowest timeframe
- Cyan identifies the s/r on the middle timeframe
- Red identifies the s/r 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 new ATR Support and Resistance indicator is currently available for TradeStation and Multicharts. The indicator comes with the indicator file, workspace and documentation and is on special until October 31, 2017 for only $345.01.