Welcome to NexusFi: the best trading community on the planet, with over 150,000 members Sign Up Now for Free
Genuine reviews from real traders, not fake reviews from stealth vendors
Quality education from leading professional traders
We are a friendly, helpful, and positive community
We do not tolerate rude behavior, trolling, or vendors advertising in posts
We are here to help, just let us know what you need
You'll need to register in order to view the content of the threads and start contributing to our community. It's free for basic access, or support us by becoming an Elite Member -- see if you qualify for a discount below.
-- Big Mike, Site Administrator
(If you already have an account, login at the top of the page)
Would there be an indicator that does the following?
On a given chart, let's say a 5 day, 5 minute chart, the indicator will draw lines based on all candles that closed or opened at the same price. Or the same for wicks. So a horizontal line would be drawn based on X number of times a wick touches the same spot. Let's say in a 5 day period on a 5 minute chart, wicks hit multiple times at $2700.25. It was both support and resistance throughout the 5 day period. It hit 8 times during this five day period for example, so a line is generated. This could be for any chart or time frame. It just seeks to find prices that hit many times in the same spot, doesn't matter which way it reverses, it only finds touches of the same price. I feel like there has to be an indicator that scans for multiple closes/opens throughout the chart. Or perhaps a way to fine tune the Pivots indicator already included to where I can set the number of times a price has to be touched?
Can you help answer these questions from other members on NexusFi?