Chapter 3 · Lesson 33 min
Support and resistance bands
S/R means support and resistance. The indicator draws price areas to compare with the candles.
This example shows one resistance line, R5, and one support line, S5. Find the current price, then compare it with the two lines. They are areas to watch, not guaranteed turning points.
The numbers in each pane title are for the latest candle. Move over the chart to read the values of any other candle.
A band above the current price is a possible resistance area. A band below price is a possible support area. The R and S labels help you tell them apart.
Watch what price does near a band. It can slow down, turn back or pass through. A band does not guarantee a reaction.
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Support and resistance bands: S/R means support and resistance. The indicator draws price areas to compare with the candles.