Using Daily Support and Resistance Pivots to Study Last Structure Breaks

Summary

This document describes an experimental indicator for studying the Last Structure Break concept. It identifies support and resistance pivots within each logical trading day, using configurable wick-based or body-based structure definitions and pivot strength based on bars to the left and right. A level is retained only if price does not break it before the day ends, then projected forward as a trendline into the next session.

The indicator detects day boundaries from chart separators and normalized timestamps instead of relying on daily timeframe data, with the stated aim of keeping results consistent across chart timeframes and brokers. These mechanics support visual analysis of whether session-ending structure levels matter to later price action. The document presents design features and an intended research question, but no code, backtest, predictive measurements, or live trading results. It therefore establishes an exploratory framework, not evidence that the projected levels forecast price behavior.

Key ideas

• The indicator detects trading days independently of daily timeframe bars by using separators and timestamps.
• It finds support and resistance pivots using configurable wick or candle-body definitions.
• A level is considered valid only if it remains unbroken through the rest of its session.
• Valid session levels are projected into the following day for Last Structure Break analysis.
• The document describes an experimental tool and provides no evidence of predictive performance.

Tags

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