I trade the e-mini SP500. I use an indicator offered by TraderSmarts | Trading Plans and Trade Alerts for Futures Traders (, which provides support and resistance lines to tell me where to buy/sell. See attached picture of the indicator in action for the past week. This indicator has been extremely accurate and I made some good money with it.
I have one question: What are the calculations behind these support/resistance zones so that I can calculate these numbers by myself? There must be some universal and simple calculation this indicator is using. Been searching high and low for this and wanted to turn to the pros here if anyone has an idea. I think it uses Fibonacci lines somehow?
Here is the "TradePlan" for this past Wednesday:
The tradeplan as illustrated by red and green support/resistance zones for the past week.
Thanks!
Note: I posted this in the Ninjatrader forum earlier today, but as a new elite member just realized I had access to this forum as well. Sorry for the double post if that's not allowed.