What Support/Resistance indicators do you use

Discussion in 'Trading' started by zoan, Feb 14, 2013.

  1. zoan


    Hey guys,

    What support/resistance indicators you think are best for swing trading (buy n sell within a few days)? I draw my support/resistance lines manually by visually looking at the chart and identifying horizontal levels of S/R and as well as any trendlines. But as we know, the eye only sees what we want to see. And often, I seem to get caught by a resistance i didn't see. And my trade turns from a slight profit into a loss.

    Lately I've been experimenting with Pivot Points which is more commonly used for day trading but i still use them on my daily charts (so pivot points r calculated base on previous month's data) n so far quite ok (haven't collated much results yet). I don't use them as entry points (i.e. if price is at Support n fit other criteria then buy) but rather if the next resistance level is a distance away n fits my other criteria, i will buy, else if the resistance level is too close, i will skip this.

    I'm curious to know if any others use Pivot Points and how useful they are on daily charts for equities - if u could share your experiences and knowledge on this. If not, what other S/R indicators do you use and how do u use them?