Support and Resistance – Day Trading S/R Pro
Indicator for NinjaTrader® 8

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Support / Resistance (S/R) levels and features (new features)

• Open/High/Low of Today
• High/Low/Close of Yesterday, Yesterday – 1 and Yesterday – 2
• 4pm Close of Yesterday
• Filter overlapping S/R levels
• Open of Yesterday, Open of the Week, Open of the Month, Open of the Quarter, Open of the Year
• Highlight S/R levels and alert when price is close to a level (only for OoD and HLC of Yesterday)
• Price Action around the Open of the Day and High/Low/Close of Yesterday
• Breakout and failed Breakout of the High/Low of Yesterday
• Highest and Lowest One Hour Close from Yesterday (minute chart only)
• Hourly RTH or ETH Opens (on a 5 minute chart only)
• Reversals, Pullbacks, Breakouts and Tails around the Hourly Open Price (on a 5 minute chart only)
• Touch of EMA 20 (Al Brooks – Moving Average 20 Gap Bar)
• Gap Bar with EMA 20 (Al Brooks – Moving Average Gap Bar)
• Price Action around the EMA 20
• Possible Opening Setups on the 1st three bars of the day (up to 15 minute RTH chart only)
• Possible Reversal Times for the E-mini (on a 5 minute RTH chart only)
• Highlight Outside & Inside Bars (also Inside Bar variant)
• Time Frame Continuity for higher time frames (on minute chart only)
• Real-time signals (Calculate: On price change)
• certain features do not work on:
  Volumetric, Range, Tick, Volume, Second, HeikenAshi, Kagi, Renko, PointAndFigure and LineBreak charts
  Please try before you buy!

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Example Charts

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Download a 30 day trial version

 

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Please contact us for a discount if you’re going to buy more than one indicator.

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Support / Resistance

As a Day Trader horizontal Support and Resistance from the current and prior days are your main concern.
> Open/High/Low of today
> High/Low/Close of yesterday
> High/Low/Close of the day before yesterday
> Open of the week, the month, the quarter and the year
> Highest and Lowest One Hour Close from Yesterday

If price is close to the High/Low/Close of Yesterday, the Open of the Day and the Open of the Week Price Action at the corresponding support/resistance level can be highlighted.

Failed Breakout
At support/resistance levels one can often observe failed breakouts, where price penetrates the level, but then fails to continue in that direction and instead reverses.

Breakout Test or Pullback
If price continues through a support level, that level often becomes a new resistance level. The opposite is true; a broken resistance level often becomes a new support level.

Whipsaw
A whipsaw is highly volatile price action, that mostly forms around important support/resistance levels. Price is making sharp movements (multiple reversals) often in a tight trading range.

Dynamic Support/Resistance
If there are no daily support/resistance levels around the current price range (e.g. on a large gap) one can use the Hourly Open levels and/or the EMA 20 as dynamic support/resistance levels.

Below are a couple of examples of price action at support/resistance. I used these colors for Open of the Day, High of Yesterday, Low of Yesterday, Close of Yesterday.

I’ve added the dots and diamonds to highlight the tails and 2BR the indicator is marking up. Tails and 2BR are marked up / highlighted with the same color as the Support/Resistance line.

	Failed Breakout of the OOD there are no two consecutive Closes below the level, two higher lows		Failed Breakout of the OOD and LOY, Tails at the OOW, three tails and two with a higher low Breakout of the COY and Breakout Pullback/Test about an hour later
	Failed Breakout of the OOD and Close back below HOY Breakout Test HOY Breakout Test COY		Two nice Breakouts with following Breakout Test OOD and LOY
	Large gap down, below the LOY use the Hourly Open as Breakout Pullback/Test levels		Wedge reversal below LOY Breakout Test of the Hourly Open
	Large gap down, below the LOY use the EMA 20 as a variable resistance level		Whipsaw around the LOY micro Wedge just before the breakout lower

Hourly Open

Every Open is support and resistance. The Open of today as well as the Opens from the lower time frames like the 60/120/240 minute charts. Traders from these time frames are often active just before/at or after a new bar opens.
The horizontal lines for the closed one hour bars have the colors of the corresponding one hour bars.  The line for the current one hour bar changes color according to the color of the current one hour bar until that closes.
Either use the Globex (XX:00) or the RTH Open (XX:30) for the Open of the one hour bars.

The indicator tries to find Reversals or Breakouts that happen around the Open of one hour bars. Pullbacks or Tails at these levels can be highlighted also.

Reversal Bar or 2BR (Dots) just before, at and just after the Hourly Open

Pullback (small triangle up/down) to the Hourly Open

Breakout Bar (Square) at and just after the Hourly Open

“Head Fake” a strong breakout bar followed by a counter trend bar of similar size

If such a signal occurs at a local extreme a larger red or green triangle is added to the signal (1st and 3rd chart below).

the RVB is at a local extreme (large green triangle)

(diamond changed to square)

the 2BR is at a local extreme (large red triangle)

EMA 20 (20 bar Exponential Moving Average)

Al Brooks uses the EMA 20 on his 5-minute charts as support and resistance to find pullbacks in a trend.
In strong trends a Pullback to the EMA 20 is often a high probability trade for a test of the extreme of the trend. Sometimes a 2nd or 3rd attempt of a Moving Average Gap Bar is necessary to continue the trend.

If price is close to the EMA 20, Price Action at that support/resistance level can be highlighted also.

The indicator tries to find the following setups:

• Touch of EMA 20 after 20 or more bars (Al Brooks – Moving Average 20 Gap Bar)
  Adjust the minimum number of bars away from EMA 20 as well as an envelope to front run and set an alert.
  After the set condition is met (e.g. price isn’t touching the EMA for more than 20 bars) the EMA changes color. A bar that touches the EMA or the set envelope after that is marked with “E”.
  “E” was changed to “ET”.

 

• Gap Bar with EMA 20 (Al Brooks – Moving Average Gap Bar)

 

Read more here:
2 HM: If Away from EMA for Two or More Hours, Then Fade EMA and First EMA Gap Bar

https://www.brookstradingcourse.com
https://www.brookspriceaction.com/
https://www.brookspriceaction.com/portal.php?page=4

Bars / Opening Setups

The indicator tries to find Reversals (RVB, 2BR), Trend Attempts and Breakout setups (IB2, IOI, II) on the 1st three bars of the day.

Indicator name: PADayTradingSRPro

Support/Resistance	Show Last SR Only – Show support/resistance for the last day only Show HoD/LoD – Show High/Low of Day Show OoD – Show Open of Day Show H/L/C of Y – Show High/Low/Close of yesterday Show COY 4pm – Show 4pm Close from yesterday (enter the number of bars back from the 1st bar of the new session or set 0 for no show) Show OoD of Y – Show Open of Yesterday Show H/L/C of Y-1 – Show High/Low/Close of the day before yesterday Show H/L/C of Y-2 – Show High/Low/Close of two days before yesterday Filter H/L/C of Y -1-2 – Filter yesterday-1 S/R lines if they are close to today’s S/R (distance in points, 0 = no filter) Show OoW – Show Open of the Week Show OoM – Show Open of the Month Show OoQ – Show Open of the Quarter Show OoY – Show Open of the Year Show H/L 1h C of Y – Show highest/lowest 1h Close from Yesterday Show Tails – Show Price Action at the OOD and High/Low/Close of yesterday Tail Thickness – Width of tail More/Less Signals (1-10) – 1=less and 10=more signals (increase sensitivity) Show Last Tails Only – Show for last 400 bars only
Hourly Open	Show Last Only – Show for last 400 bars only Show Hourly Open on 5m chart – Show a horizontal line at XX:00 Open for Globex and XX:30 Open for RTH (regular trading hours) (needs to be set to show any of the signals below) Use Globex Open on RTH – Use Globex Open (XX:00) on RTH chart Show Reversals – Reversal around the Open of the 1h Bar Show Breakout – Breakout around the Open of the 1h Bar Show Pullback – Pullbacks to the Opening level of the 1h Bar Show Reversal at Extreme – Reversal/Breakout/Pullback at a local extreme of the chart (a red or green triangle is added to the signal) Show Rectangle on Breakout – instead of a square Alert on Hourly Open – Alert, if a new hourly bar opens with custom wav file Alert Sound File Show Tails – Price Action at the Opening level of the 1h Bar Tail Thickness – Width of line to color the tail (set color of tail in “Colors and Text”) More/Less Signals (1-10) – 1=less and 10=more signals (increase sensitivity) The line style for the closed one hour bars can be set in the “Plots” section.
EMA 20	Show Last Only – Show for last 400 bars only Show Touch – Bar that touches the EMA 20 (or envelope) Show Gap Bar – Bar with a gap between it’s H/L and EMA 20 Minimum Bars Away – Minimum number of bars away from EMA 20 to show a touch Envelope for Touch (Ticks) – (above/below EMA) used only, if envelope in percent of yesterday’s range is zero set both envelopes to zero for a perfect touch Envelope for Touch (Y Range %) – (above/below EMA) envelope in percent of yesterday’s range set both envelopes to zero for a perfect touch Alert  – Sound alert Alert Sound File Show Tails – Price Action at the EMA 20 Tail Thickness – Width of line to color the tail (set color of tail in “Colors and Text”) More/Less Signals (1-10) – 1=less and 10=more signals (increase sensitivity) The line style for the EMA 20 can be set in the “Plots” section.
Bars & Time Frame Continuity	Show Last Only – Show for last 400 bars only Show Open Bars – Show Reversals, Trend Attempts/Bars, IB2 and Outside Bars on the 1st couple of bars of the RTH day Show Breakout HoY/LoY – Show breakout and failed breakout of HoY/LoY Alert Breakout HoY/LoY – Sound alert Alert Sound File Show Gap as Trend Bar – Draw a large gap as a trend bar on the RTH chart Show Reversal Times (E-mini RTH) – Show possible reversal times 10:30am and 2pm &/or 3pm EST Show Outside and Inside Bar Show Inside Bar Variant – Inside bars with a small overshoot of the prior bar Show Time Frame Continuity – Show higher time frame bar colors Show TFC of Day – Show higher time frame bar colors of day Color TFC 1h/Day in Sync – Color background if hourly and day time frames are in sync
Colors and Text	Colors – Colors of the daily levels, the levels from yesterday and the Opens of the higher time frames Line Styles – Line styles of the daily levels, the levels from yesterday and the Opens of the higher time frames Opacity of Yesterday -1 / -2 Opacity of levels from the day before yesterday-1 and -2 (20-255) Line Thickness – For all support/resistance levels Line Highlight – When price is near a level the level is highlighted Line Highlight Opacity – Opacity for the highlighted level Line Highlight ATR – ATR Divisor (ATR 10) for distance of price from a level to highlight the level (set “Line Highlight Ticks” to zero to use ATR) Line Highlight Ticks – Number of ticks distance of price from a level to highlight the level (set to zero to use ATR) Line Highlight Alert – Sound alert Line Highlight Alert Sound File S/R Text – Show level name at the right border of the chart S/R Text Shift Right – Shift name to the right n bars (set right side margin in NT Chart Properties) S/R Text Highlight Color – Color to highlight the S/R name (if price is close) Font – For support/resistance level text Color of Outside Bar / Inside Bar – Color for inside and outside bars (set in “Bars” whether to show them or not) Reversal Times Color – Reversal times background color Bull Color – Color for bull signal Bear Color – Color for bear signal Hourly Tail Color – Color for Price action at the hourly opens) EMA Tail Color – Color for Price action at the EMA 20)

“Show Last Only”

 

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