Auto Support & Resistance
Automatically Plot Accurate Support & Resistance Lines
Last updated
Automatically Plot Accurate Support & Resistance Lines
Last updated
The Auto Support & Resistance feature is an extremely useful tool for recognizing general levels that a stock price may have trouble breaking above or below. Support is typically recognized as a level where the price of a stock may cruise along or bounce off of in order to reach new heights. Resistance on the other hand is recognized as a level where a stock price has trouble breaking above, and may reject the level and bounce downwards. Identifying these levels is very important to all traders, as it can assist in locating entry and exits points, as well as doing proper technical analysis.
Red lines indicate resistance while green lines indicate support.
Below is an example of what these support & resistance lines look like when activated.
Auto Support & Resistance settings can be customized through the Origami Algo settings menu. Here you can turn the lines on or off, choose whether they draw from the wick or body of the candles, and alter the sensitivity. Higher sensitivity leads to less lines, while lower sensitivity leads to more lines.
