AlgoPro Support & Resistance
Tutorial of our Trend and Volume SR Tools
Our AlgoPro Trend SR is a tool that automatically detects points of support and resistance based on past/present trends, pivots, and order block volume. Once these areas of support and resistance are broken, they become new areas of support and resistance.
Support Broken = New Area of Resistance
Resistance Broken = New Area of Support
When price is correlating within these support and resistance zones, you can adjust your settings to notify when a break through/ break down of a zone occurs - and other similar functions. Settings can also be adjusted within to make detecting of zones more stronger and weaker. Fewer stronger zones - as well as more weaker zones of support/resistance.
Our AlgoPro Volume SR is a tool that uses past, present, retail, and institutional volume of an asset to detect potential areas of support and resistance. Using volume profiling, areas of more volume directly correlate for possible areas where price can hold or be rejected. The values of the volume are labled on the volume profile and strength/weakness of these areas have a color gradient assigned to them. The brighter, the strong the volume is for a support/resistance - and vice versa for a weak colored area.
Areas of high volume are then labeled on your chart with our volume heatmap, areas of your chart where volume is high and suitable for a support or resistance will glow brighter/weaker on your chart so you can visually see where you should be watching for the price action to hold or be rejected.
Combine these two tools together with our AlgoPro V1.2 or Reversal Trader to provide you the most complete, intuitive trading experience on the market.
Last modified 5mo ago