Support And Resistance Indicator For NinjaTrader 8
Description
Support levels refer to price levels where buying pressure is expected to emerge, preventing further price declines. Resistance levels, on the other hand, refer to price levels where selling pressure is expected to emerge, preventing further price increases.
To the note
All autostrategies have been developed and tested on history and have not been applied in real trading. This is first of all an idea, a good training example. You can change or modify the script to meet your requirements.
Installation instructions
In the NinjaTrader 8 trading terminal, using standard functions, we import the purchased archive SupportResistance.zip through the tools to import the addon. Next, in the chart window, click on the indicator icon, select our indicator from the list, set the parameters and click ok.
Futures, foreign currency and options trading contains substantial risk and is not for every investor. An investor could potentially lose all or more than the initial investment. Risk capital is money that can be lost without jeopardizing one’s financial security or lifestyle. Only risk capital should be used for trading and only those with sufficient risk capital should consider trading. Past performance is not necessarily indicative of future results.
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