Support and Resistance Levels from Period Highs and Lows

Summary

This indicator plots possible support and resistance levels using the maximum and minimum prices over a chosen lookback period. It derives support by reflecting the period minimum around the maximum, and resistance by reflecting the maximum around the minimum. A separate input controls how long the plotted levels extend on the chart.

The document names example settings on hourly, four-hour, and five-minute charts, including a default period for the latter. These examples describe configuration rather than demonstrate predictive performance. No market, test results, entry or exit rules, or guidance for choosing parameters is provided, so the levels should be treated as chart references rather than a validated standalone strategy.

Key ideas

• The indicator estimates support and resistance from the lookback period’s minimum and maximum prices.
• The support and resistance calculations reflect each extreme around the other.
• The lookback period and plotted line length are configurable inputs.
• The document gives chart timeframe examples but no performance evidence or parameter-selection method.

Tags

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