Support & Resistance

As a Day Trader horizontal Support and Resistance from the current and prior day are your main concern.
You can use the “Day Trading Support/Resistance” indicator for NinjaTrader 7/8 to show them on your trading chart. Check out our free indicators section.

always draw the shallowest trend lines from yesterday as part of my Pre-Open routine.
We’ve added the “Yesterday’s shallowest Trend Lines” indicator to our portfolio of free indicators. Check out our free indicators section. Read more here.

On instruments with RTH (regular trading hours) you often have gaps on a chart, that stay open for more than a day.
Use the “Open Gaps from Prior Days indicator for NinjaTrader 7/8 to show them on a daily chart. Check out our free indicators section. Read more here.

Also check out measured move(s) (MM). They are often used for profit taking, e.g. buy the breakout of a trading range and take profits at 1 x the high of it (or a MM of a PBTRI or spike), examples see here

HOY = High of Yesterday
LOY = Low of Yesterday
COY = Close of Yesterday
OOD = Open of the Day
OOW = Open of the Week (especially on Friday’s)