ResSup Indicator: Trading Breaks of Local Price Extremes

Summary

ResSup is a chart indicator that plots two lines derived from local price extremes. Its described trading rule is to buy when price crosses above the upper line and sell when price falls through the lower line. The lookback period controls how many bars are used to find the extremes, while a separate bar index sets where the search begins. The source says the indicator is intended for hourly charts and longer timeframes.

The description explains the signal construction but supplies no performance results, instrument-specific guidance, stop or position-sizing rules, or treatment of false breakouts. It does not clarify whether the plotted levels update in a way that could change historical signals. Traders would need to assess these implementation details and test the rule with realistic costs and execution assumptions before drawing conclusions about its usefulness.

Key ideas

• The indicator derives upper and lower lines from local price extremes over a configurable lookback.
• A move above the upper line signals a buy, while a break below the lower line signals a sell.
• A separate bar-index setting determines where the extreme search begins.
• The description recommends hourly or higher charts but provides no validation or risk-management rules.

Tags

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