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  • Hello.

  • And welcome to the NinjaTrader Indicator Warehouse.

  • Today we are going to cover the support and resistance

  • lines or SnR lines for short, a new subscription service

  • from Indicator Warehouse.

  • SnR lines give you the highest probability support and

  • resistance levels for the most popular

  • futures and 4X markets.

  • It works in all time frames and is a complimentary system,

  • which can be used as a standalone trading system or

  • to enhance your current trading strategy.

  • In this short video, we will show you how to set up your

  • SnR lines as well as a few ways that you can implement

  • their trading strategy.

  • Because the support and resistance lines are unique to

  • the market traded, the support and resistance service is

  • broken into the different markets

  • which are called widgets.

  • Therefore if you would like to trade the E-mini S&P, you will

  • need the E-mini S&P widget.

  • If you would like to trade the 4X Pound US dollar pairing,

  • then you will need the Pound US dollar widget.

  • When you make your purchase from Indicator Warehouse for

  • whichever widget you have subscribed for, you will get a

  • download email with your download information.

  • It is important for you to make note of where you

  • download the file to.

  • By default, most systems will download the file to either

  • the desktop or your download folder.

  • Once you have downloaded your widget, go to your control

  • center in NinjaTrader.

  • From here, click on the File menu.

  • And pull down to the Utilities icon.

  • From here, move over to Import NinjaScript.

  • And now you need to locate where you've

  • downloaded your widget.

  • I've downloaded mine to my desktop.

  • And I've subscribed for the euro US dollar and the E-mini.

  • And when Ninja displays this box, you have successfully

  • uploaded the widget to your Ninja Trading system.

  • Do this for each of the widgets you

  • have subscribed for.

  • To load the widget onto your chart, first open the market

  • you're interested in.

  • In this particular instance, I'm going to be trading the

  • E-mini S&P. And I want to locate my E-mini S&P widget

  • from my indicator assortment.

  • So I go to my Indicator tab.

  • And from here in the assortment, I can find my IW

  • S&R lines E-mini widget.

  • Click on that.

  • Click to apply.

  • Click OK.

  • And depending on how your charts are formatted, you may

  • end up getting an error message similar to this.

  • What this is telling you is that your data series needs to

  • be configured slightly differently.

  • Go to your Data Series tab.

  • Click on that.

  • By default, your Ninja charts are usually set up with only

  • three days of data.

  • Ideally you want to at least 10 days of data.

  • I'll set mine to 30.

  • And in order to get the indicator to display

  • correctly, we recommend that you change your session

  • template to 24/7.

  • Click Apply and OK.

  • And now you have your S&R lines on your chart.

  • Let's take a quick look at the setting for the S&R lines.

  • By going back to our Indicator tab, we can see that our S&R

  • lines are highlighted.

  • Let's take a look to the various features that we have

  • available here.

  • Because the S&R lines are a proprietary system from

  • Indicator Warehouse, there really isn't too much open to

  • adjustment.

  • You can change the calculation setting from the Calculate bar

  • on close to true, in which case the line will paint a

  • little bit earlier.

  • But it will still be the same line.

  • The line does not change from one minute to the next.

  • The other settings have to do with how the lines look.

  • You will notice that there are 21 support and resistance

  • lines painted for each widget that you have purchased.

  • And the balance point is painted in a fuchsia color

  • where is all the other lines are painted in a blue color.

  • And you can adjust these colors to your own personal

  • preference.

  • You can also change the way the lines look.

  • The level style you have a choice of painting either a

  • straight line or a zone.

  • Or by default they are set to both.

  • You can also show the labels in the margin.

  • But by default, those are turned off.

  • The zone height--

  • this refers to how wide the zone is painted.

  • You can adjust that.

  • And the opacity of the zone refers to how dark

  • the zone will look.

  • So let's take a look at all this on the chart.

  • And you can see that for the current session the lines are

  • painted with a line and a zone.

  • If we scroll back into the chart, you will see that the

  • past sessions paint only a line.

  • And that's just for your convenience sake, so that you

  • always know that you are trading

  • in the current session.

  • There are several ways to use your new support and

  • resistance lines.

  • You can use them either as a standalone system or part of

  • your current trading system.

  • The nice thing about the support and resistance lines

  • is that they show you the high probability areas where the

  • market is likely to do something.

  • Sometimes the market will hit the line bang on as it did

  • over here and again down here.

  • And then other times the market will be a little

  • delayed in its reaction when it hits a support and

  • resistance area and fudge the line ever so slightly.

  • What I like to see with the support and resistance is I

  • like to see the market break through a support or

  • resistance area and then come back and retest it, as we are

  • seeing right now.

  • The market has broken this area of support, has come

  • back, and is now retesting it.

  • And this support should now act as resistance.

  • If this price holds, I will place an order to sell below

  • these recent lows.

  • If the price fails and breaks through the upside, then I'll

  • look for a test of the area as support, which will give me an

  • opportunity to buy.

  • Well it looks as though the price is going to hold.

  • So I will place an order to sell below the recent lows.

  • And we'll see if the market will bring us in.

  • Now that we're short the market, I'll

  • place my exit stop.

  • And now we'll anticipate that the market will trade down to

  • the next area of support where once again, we will expect the

  • market to do something and be on the alert to possibly take

  • profit or maybe even add to our position.

  • We're in our trade for about 45 minutes.

  • And you can see that we've broken through this next area

  • of support.

  • And once again the market is coming up to test it as

  • resistance.

  • So what I'm going to do is I'm going to use that as an area

  • actually to place our protective stop to try to lock

  • in a little bit more profit.

  • And we're currently up about $1,100 on our position.

  • So, so far a very nice trade for us, simply trading off of

  • this retest of the broken support area and following the

  • market down to the next area of support.

  • All right.

  • So the market has violated this area of support, which

  • should have been resistance.

  • We got out of our trade with approximately $1,000 profit.

  • Now that the market is breaking through this area of

  • resistance, because the market is coming from underneath, we

  • would anticipate to see some sort of support form here on a

  • possible retest, in which case that would actually give us an

  • opportunity to buy.

  • Prices made a very fast move once they broke this area of

  • resistance and rallied right back to former support and

  • resistance, only to come back and once again start trading

  • off of this support line.

  • So I'm hoping you can see how incredibly powerful these

  • support and resistance levels are.

  • If this area continues to hold as support, then I will look

  • for an opportunity to buy and trade the market back to the

  • next area of resistance, and after that followed by the

  • next there is resistance and so on.

  • It looks as though this support is going to hold.

  • So I'm going to get ready to place an order to

  • buy above the highs.

  • And we'll see if the market brings us in, as we're

  • anticipating a bounce off of the support level.

  • All right.

  • We're currently long.

  • I'll place my stop loss order.

  • And I've placed my stop below the support area, which should

  • now hold the market up.

  • | looks like we've caught a very good trending market.

  • And we've just hit our other support and resistance line.

  • And the market has come back.

  • It's started to look a little bit bearish.

  • So I've quickly rolled up my exit stops.

  • And it looks like it was just in time as we got stopped out

  • with about $2,000 in profit on that particular trade.

  • This is how you can use support and resistance lines

  • as a standalone system.

  • Another advantage of using these support and resistance

  • lines is that they can be used in conjunction with other

  • trading systems to enhance their effectiveness.

  • A very simple demonstration would be to take just a

  • regular indicator of any sort.

  • Let's say we're going to use an RSI.

  • We'll add RSI to the mix.

  • We'll just go with the standard settings.

  • And now we can use RSI and support and resistance lines

  • together to help us improve the efficiency of our trade.

  • The traditional way of trading RSI is to wait for the market

  • to become over-bought or oversold and to buy when the

  • market comes out of the oversold region, and to sell

  • when it comes out of the over-bought region.

  • Now with the addition of the support and resistance lines,

  • we can improve the effectiveness of the RSI

  • indicator by looking for a confluence between the

  • indicator and the support and resistance levels.

  • This is the euro US dollar 4X pairing.

  • And right now, I'm just waiting for the market to do

  • just that, to give me some confluence between the RSI and

  • the support and resistance line.

  • Right now you can see we're trading off of support.

  • But RSI is relatively neutral, and in

  • fact is slightly bearish.

  • So we'll just let this unfold and see how it plays out.

  • Prices actually broke through the support area and traded

  • down to our next support line, where we're also starting to

  • see support.

  • But notice that RSI became oversold and now is starting

  • to head a little bit higher.

  • So if we continue to see this support area hold, I will

  • place a buy above the high of the candle, given that RSI has

  • been oversold and now is looking to rally.

  • And that coincides very nicely with the touch on the support

  • and resistance line.

  • It looks as though that level's going to hold.

  • So I'll place an order to buy.

  • And now we'll see whether or not the support area holds, in

  • which case we'll go long.

  • And we'll see what happens with our RSI as well.

  • All right.

  • The market brought us into this trade.

  • I'll place my exit order.

  • And my first profit target will be this area of

  • resistance.

  • And I'll also be watching my RSI to see if it becomes

  • over-bought, which will indicate that the particular

  • resistance line is going to be more likely to hold, just like

  • we saw this support area hold as things coincided

  • with our RSI line.

  • Well, our trade is progressing very nicely.

  • We've just been in this trade for a matter of minutes.

  • And we're currently up nearly $4,000.

  • So I'm going to be very aggressive with my stop, bring

  • it down here below the support and resistance line, and try

  • to lock in as much of that profit as possible.

  • If this resistance area now it turns into resistance and

  • forces the market lower, then I'll be able to get out at the

  • earliest possible opportunity.

  • So that's how you can use simple indicators, whether it

  • be RSI, Stochastics, MacD, or whatever your favorite

  • combination in conjunction with support and resistance

  • levels to make them that much more effective.

  • And remember, whether you are day trading the E-mini S&P,

  • other futures contracts, or 4X, Indicator Warehouse will

  • help you get more profit from your online trading and

  • technical analysis efforts.

  • Thank you again for joining me.

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究極のSnRスイート - 毎日のサポートラインとレジスタンスラインのレベルとゾーン (Ultimate SnR Suite - Daily Support and Resistance Lines Levels & Zones)

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    Shang Kuo Chang に公開 2021 年 01 月 14 日
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