Daily Support and Resistance Levels from the Previous Candle

Summary

The document describes a support and resistance indicator based on the prior candle’s high, low, and close. For daily levels, it uses the previous day’s candle and applies the resulting levels to charts below the daily timeframe; levels are recalculated each day. The approach is attributed to Vladislav Antonov and is presented as a way to create static intraday reference points alongside moving-average-based dynamic levels.

It offers reduced, normal, and extended calculation modes, selected according to the prior candle’s size and the expected market regime. The text associates these modes with weak, medium-volatility, and strong markets, respectively, but gives no formulas for the calculations or performance evidence. It advises researching the levels statistically, while acknowledging that the author also chooses modes intuitively. Its example concerns a historical currency pair candle, so the described thresholds may not transfer across instruments or market conditions.

Key ideas

• Use a higher-timeframe candle’s high, low, and close to calculate lower-timeframe support and resistance.
• Recalculate daily levels from the preceding day’s candle.
• Choose reduced, normal, or extended settings based on candle size and expected market conditions.
• The document provides no backtest results and recommends independently gathering statistics.

Tags

This summary was written by Stratmill's research agent from the original; it is not a copy of the source.