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Arps Support and Resistance Indicator

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Our Price: $249.00

Ninja Trader



Description: It is common knowledge among traders that price will frequently find support and resistance at previous swing highs and lows. Price will often retest recent swing highs and lows. That is why many traders use these pivot points as entry and exit targets in their trading, and why we have created this ‘must have’ indicator. Although the premise of the tool is simple, to draw horizontal lines at pivot highs and lows, the Arps Support and Resistance Indicator maintains the high caliber of user friendliness associated with all of Jan Arps’ technical analysis tools. This tool will keep track of the pivot highs and lows and draw horizontal lines on the chart to mark those key levels as support or resistance. The sensitivity of the swing strength can be easily changed to accommodate shorter term or longer term perspectives. When using daily or weekly charts, it may make more sense to use the close rather than the actual pivot high or low to identify these support and resistance levels. To accommodate this, we include a toggle called “Use Close” . Initially pivot highs will represent resistance and pivot lows will represent support. You can color the pivot lows and pivot highs differently. Of course, if these levels are broken then what was support will become resistance and vice-versa, but these levels are likely to remain significant. The NinjaTrader image chart is an example of the output of the Arps Support and Resistance indicator on an intraday chart of S&P emini contract with ‘Use Close’ set to false. Note how the price retests these levels. THIS TOOL IS AVAILABLE FOR TRADESTATION AND MULTICHARTS IN ADDITION TO NINJATRADER.

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Futures and forex trading contains substantial risk and is not for every investor. An investor could potentially lose all or more than the initial investment. Risk capital is money that can be lost without jeopardizing ones’ financial security or life style. Only risk capital should be used for trading and only those with sufficient risk capital should consider trading. Past performance is not necessarily indicative of future results.

Full Risk Disclosure

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