Support and Resistance Depth of Market
- Indicators
- Antonio Augusto Barreto De Melo
- Version: 1.0
- Activations: 5
We often look for support and resistance points on the chart. One of the techniques that can be used is through the quantity of lots offered in the order book. This indicator searches for the largest lots in the order book and draws them on the graph in the form of lines, thereby obtaining where is the greatest concentration of lots offered on the centralized stock market at that time, thus configuring possible support and resistance lines.
- The number of lines to draw can be defined by the user;
- Line width;
- Line update time;
- Line style;
- Line colors.
NOTE: This indicator only works on assets with an Order Book, such as a centralized stock exchange.
DOES NOT WORK IN FOREX !!!
Any doubts I am available!