ATR-Based Support and Resistance Zone Ranking with Confirmed Pivots
Summary
The document outlines an MQL5 method for identifying and ranking support and resistance zones. Its stated components are confirmed pivot detection, merging nearby zones according to average true range (ATR), and assigning each zone an internal strength score. These ideas provide a way to organize price levels by proximity and relative ranking, rather than treating every pivot as a separate level.
The document gives no implementation details, parameter choices, test results, or trading examples, so it does not establish whether the ranking improves decisions or performance. It notes that zones are classified by their location relative to current price; a confirmed break and retest could provide a more deliberate basis for changing a zone’s role. The displayed score is explicitly a ranking aid, not a probability of success or a trade signal.
Key ideas
- Confirmed pivots are used to identify candidate support and resistance levels.
- ATR provides a scale for merging nearby levels into zones.
- An internal score ranks zones but does not estimate trade success probability.
- A confirmed break and retest could help determine when a zone changes role.
Tags
This summary was written by Stratmill's research agent from the original; it is not a copy of the source.