Support and Resistance Indicators with a Trading Strategy

Support and Resistance Indicators with a Trading Strategy
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Support and Resistance
The point at which a trend stops or makes a pause is a support or resistance, depending upon the direction of the move. If it is not confined to a singular point, and reverses from a series of points, in a vicinity, then it is a support zone or resistance zone. The higher highs, higher lows, lower highs and lower lows in a trend move are the support and resistance zone of the market. There isn’t any indicator in default as support and resistance indicator to identify the dynamic supports and resistances, which are created at unchartered territories. However, specific indicators functionalities can be extrapolated to a support and resistance indicator. Support
When the price is in a free fall state, it makes a pause or completely reverses its course of action at a certain point known as support. The demand will be higher than supply at support, and hence the price tends to turnaround its course of action. Simply put, support is any price point which prevents the price from falling further. How to identify support?
When the price reverses a bearish move, at a certain point three or more times, it can be designated as valid support. The number of times it has reversed from a certain point, the more robust the support is. A straight line is drawn connecting the bullish reversal points to identify it.

Resistance
When the price is on the rise, it tends to make a pause or change its course of action at a certain point known as resistance. The supply will be more than the demand at resistance. How to identify a resistance?
A valid resistance point is the one which makes the price action pause or reverses its course of action at a certain point three or more times. The number of times it has reversed is directly proportional to its strength. A straight line can be drawn connecting the bearish reversal points to identify the resistance.Resistance Zone
Similar to the support zone, the resistance zone identifies the cluster of resistance points amid fluctuations. The reasons for the price to be resisted by a bunch of points differ based on fundamentals. But, the occurrence is comparatively higher in long-term charts.

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