[VIP] Multi Timeframe Pivot Support Resistance (MTPSR)

24 февр. 2020 г.

MTPSR provides 6 boards to watch pivots, supports, and resistances in cross timeframes. By default, timeframes are 15m, 30m, 1hr, 2hr, 4hr, and 1D with the current ticker, but they are changeable on indicator setting.

The Pivot, Support, and Resistances have 2 algorithms; Fibonacci or Classic. Default is Classic, but you can change on indicator setting.

MTPSR has 2 additional boards with BitMex Long and Short Liquidation algorithm, this logic can be used for any ticker especially if you want to have tight control with margin liquidation.

MTPSR provides KDJ charts in cross timeframes with the last 3 candles for every board. The default does not appear, but you can enable it on indicator setting. If Greenline crossover Redline, that is a good position to the long or indicating uptrend. But if Greenline crossunder Redline, that is good position to the short or indicating downtrend.

MTPSR has DI/ADX for every board, DI is a difference between DI+ and DI-, if the value is negative means downtrend, if the value is positive means uptrend.

HOW TO USE

Long Trading

• The Support will be a good position to entry
  
• The Resistance will be a good position to take profit
  
• If in lower time frames, the candle keeps cross over the resistances, that means uptrend rally is happening.
  

Short Trading

• The Support will be a good position to take profit
  
• The Resistance will be a good position to entry
  
• If in lower time frames, the candle keeps cross over the resistances, that means uptrend rally is happening, it is not good for short
  

Scalping Advice

• If you scalp in day trading, it is recommended to watch Pivot/Support/Resistance on Timeframes 1D, 4D, and 1W
  
• If the chart is sideways on the 1D pivot and the direction from support to pivot, that means the market wants to have a correction to closer support
  
• If the chart is sideways on the 1D pivot and the direction from resistance to pivot, that means the market wants to have retest to closer resistance before another drop or breakout to continue the rally
  
• Use can scalp on TF 15m or TF30m, the Pivot/Support/Resistance in lower timeframes can be so dynamic, so you have to pay more attention on trading strategy, you can use 2H and 4H Pivot/Support/Resistance as the target
  
• You can also use Liquidation Long/Short boards for scalping trading strategy to take profit or cut lost
  

ALERTS

• Every pivot board has alert which condition: if candle cross over or under support, resistance or pivot even KDJ cross over or under
  
• Every liquidation board has alert which condition: if candle cross over or under every margin level
  
• Example alert title for every board when candle cross over: Over Support TF 1, Over Resistance TF 1, Over Pivot TF 1, KDJ Up TF1
  
• Example alert title for every board when candle cross under: Under Support TF 1, Under Resistance TF 1, Under Pivot TF 1, KDJ Down TF1
  

Feedback

• Please drop a comment or send a direct message for any bugs or request new feature
  
• I dont sell source codes, please not DM me about it