What is it about ?
Anybody who is serious about trading and who understands that the relevant supports and resistances depends on the TimeFrame you are trading in.
For which assets?
PowerZones is an universal indicator and works fine on all assets and all time-frames.
Why we made these innovations?
Because as traders, we needed a tool much more adaptative and precise than the PRT Lines; beside we believe that zones are more relevant than lines in trading; lines can be very subjective (do you draw it on the closing price or the high of the day?) and often the market will play with them to chase the Stops.
So better be above or under a zone if you don’t want to be an easy target.
How does it work?
We innovated on the basic Supports and Resistances concept by adding new features with:
- zones: that correspond better to real life trading than lines
- strength: we bring a simple option of how many times the Support/Resistance have been touched in the past
- density of the Zones: which is the distance you want to have between 2 zones; the higher density, the more zones
- and lastly for convenience the zones change color depending of their position vs price: they turn red is the price is below them and blue if they are above.
Please note that our product BladeSCALPER contains the PowerZONES indicator but without the TP option.
Here are some adjustments you can take to make PowerZONES perfectly yours: